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News Update

TICKERS: DEFN; DFMTF; 35D

Explorer Reports Positive Initial Test Results at Rare Earth Elements Property
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Defense Metals reported its flotation pilot plant registered positive sample results from its Wicheeda Rare Earth Element property in British Columbia.

In a news release, Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTCQB; 35D:FSE), which focuses on discovering high strength alloys, rare earth materials and magnets for the electric power, green energy, military and national security markets, provided "an update with respect to ongoing flotation pilot plant processing of its 30 ton Wicheeda Rare Earth Element (REE) Property bulk sample underway at the SGS Canada Inc. Lakefield, Ont. metallurgical test facility."

The company reported that pilot plant testwork began on June 11, 2020, and since then a total of 14 processing runs have been completed. The firm advised that to date 16 tons bulk sample feed has been processed at its bulk sample flotation pilot plant, which produced about 750 kg of flotation concentrate.

Defense Metals highlighted that it recorded "process run concentrate grades ranging from 45.4% up to 56.7% (averaging 51.6%) LREO (light rare earth oxide expressed as the sum of light rare earth elements expressed as oxides) with process recovery ranging from 53.8% up to 79.1% (averaging 70.2%) LREO."

The company's CEO Craig Taylor commented, "We are exceedingly pleased with these initial flotation pilot plant test results. The Wicheeda REE Deposit mineralization continues to deliver exceptional metallurgical performance. We have shown that in a pilot plant setting we are able to exceed concentrate grades achieved during bench-scale flowsheet development. Defense Metals believes the results released today demonstrate the viability of large-scale bulk sample flotation processing of Wicheeda REE Deposit material."

CEO Taylor further stated that the company expects to finish up the remaining pilot plant testwork this week and plans to release the final results along with a full summary in the coming months.

The firm stated that the Wicheeda REE Property is located about 80 km northeast of Prince George, B.C., covers 1,708 hectares, is accessible by all-weather gravel roads and is situated near desired infrastructure such as power transmission lines, major highways and the CN railway. The property is located in the Foreland Belt within the Rocky Mountain Trench. The firm pointed out that the Foreland Belt stretches from the Canadian Cordillera to the southwestern U.S. and includes several carbonatite and alkaline intrusive complexes hosting the Aley (niobium), Rock Canyon (REE) and Wicheeda (REE) deposits.

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Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Defense Metals. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Defense Metals, a company mentioned in this article.




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