Defense Metals Invited By U.S. Embassy, Ottawa to Attend 2021 SelectUSA Investment Summit As a Canadian Delegation Member

VANCOUVER, BC, March 17, 2021 /PRNewswire/ - Defense Metals Corp. ("Defense Metals") (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce that it has recently been invited by the U.S Embassy in Ottawa, to attend the 2021 SelectUSA Investment Summit to be held virtually June 7-11, 2021.

Defense Metals is currently advancing the road accessible Wicheeda Critical Rare Earth Element (REE) Property, which is located close to infrastructure approximately 80 kilometres northeast of Prince George, British Columbia (BC). The Wicheeda project has indicated mineral resources of 4,890,000 tonnes averaging 3.02% LREO (Light Rare Earth Elements) and inferred mineral resources of 12,100,000 tonnes averaging 2.90% LREO¹.

Craig Taylor, CEO of Defense Metals, stated: "Defense Metals looks forward to attending the 2021 SelectUSA Investment Summit.  At the Summit, Defense Metals will have the opportunity to meet with worldwide investors and engage with U.S. economic developers and service providers who can advise on a potential United States growth strategy. In addition, Defense Metals will continue its engagement with U.S. Interagency players, including the U.S. Department of Energy, the Export-Import Bank of the United States, and the Department of Defense, to reassert its position as a critical player in the U.S. industrial metals industry."

The signing of the U.S.-Canada Action Plan on Critical Minerals Cooperation has fostered dialogue between Canada and U.S.A like no other time before. Together Canada and the USA continue identifying vulnerabilities and challenges in supply chains and facilitating discussions between Canadian mining producers of critical minerals and rare earth elements and U.S. Interagency groups to create a more resilient and safe North American supply chain.

With a renewed U.S.-Canada bilateral dialogue underway, and given the geographic proximity,  the 2021 SelectUSA Investment Summit will take a closer look at opportunities for Defense Metals to localize its potential upstream operations near a U.S. end-user to create more resilient access to various North American end users and make the operation less susceptible to trade disruptions, while adopting responsible sourcing and sustainable practices in our industries.  

To learn more about SelectUSA, visit https://www.selectusa.gov/ or go to www.selectusasummit.us.

Engages Xander Capital Partners

The Company is also pleased to announce that it has engaged Xander Capital Partners Inc. ("Xander") for corporate consulting and marketing services. In connection with the engagement, the Company has entered into a consulting agreement (the "Agreement") with Xander dated effective March 17, 2021, pursuant to which they will primarily provide services, including, among other things, assistance with the introduction to industry partners, analysts and banks, digital marketing, native ads, digital podcasts and content development. Pursuant to the Agreement, the engagement will last for approximately three months for a total cost of US$150,000, which includes direct costs for digital marketing and native ads. Xander Capital Partners has over 30 years of cumulative industry specific experience. Xander is headquartered in Orlando, with their reach expanding internationally. Their services include digital marketing and introductions to high net worth individuals, and corporate sponsorship.

The Agreement remains subject to the approval of the TSX Venture Exchange.

About the Wicheeda REE Property

The 1,708 hectare Wicheeda REE Property, located approximately 80 km northeast of the city of Prince George, British Columbia, is readily accessible by all-weather gravel roads and is nearby to infrastructure, including power transmission lines, the CN railway and major highways.

Geologically, the property is situated in the Foreland Belt and within the Rocky Mountain Trench, a major continental geologic feature. The Foreland Belt contains part of a large alkaline igneous province, stretching from the Canadian Cordillera to the southwestern United States, which includes several carbonatite and alkaline intrusive complexes hosting the Aley (niobium), Rock Canyon (REE), and Wicheeda (REE) deposits.

Qualified Person

The scientific and technical information contained in this news release as it relates to the Wicheeda REE Property has been reviewed and approved by Kristopher J. Raffle, P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of Edmonton, AB, a director of Defense Metals and a "Qualified Person" as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Raffle verified the data disclosed which includes a review of the analytical and test data underlying the information and opinions contained therein.  

About Defense Metals Corp.

Defense Metals Corp. is a mineral exploration company focused on the acquisition of mineral deposits containing metals and elements commonly used in the electric power market, military, national security and the production of "GREEN" energy technologies, such as, high strength alloys and rare earth magnets. Defense Metals has an option to acquire 100% of the 1,708 hectare Wicheeda Rare Earth Element Property located near Prince George, British Columbia, Canada. Defense Metals Corp. trades in Canada under the symbol "DEFN" on the TSX Venture Exchange, in the United States, under "DFMTF" on the OTCQB and in Germany on the Frankfurt Exchange under "35D".

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Cautionary Statement Regarding "Forward-Looking" Information

This news release contains "forward–looking information or statements" within the meaning of applicable securities laws, which may include, without limitation, statements relating to the SelectUSA Investment Summit and the expected outcomes and engagement with U.S. agencies, plans for its Wicheeda Property, the advancement and development of the Wicheeda Property, the agreement with Xander, the technical, financial and business prospects of the Company, its project and other matters and statements that address the Agreement and the approval by the TSX Venture Exchange. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of rare earth elements, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner, that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company's views with respect to future events and is subject to risks, uncertainties and assumptions, including those filed under the Company's profile on SEDAR at www.sedar.com. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, adverse weather conditions, failure to maintain or obtain all necessary government permits, approvals and authorizations, failure to maintain community acceptance (including First Nations), decrease in the price of rare earth elements, the impact of Covid-19 or other viruses and diseases on the Company's ability to operate increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.

SOURCE Defense Metals Corp.