Rare Earth Breaking News -
Defense Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) and The Saskatchewan Research
Council Enter into a MOU to Enhance the Domestic Rare Earth Element Supply
Chain; @defensemetals
VANCOUVER,
BC - September 27, 2024 (Investorideas.com Newswire) Defense Metals Corp.
("Defense Metals" or the "Company") (TSX-V:DEFN / OTCQB:DFMTF/ FSE: 35D) is pleased to announce the signing of a Memorandum
of Understanding ("MOU") with The Saskatchewan Research Council
("SRC") that will benefit both parties by promoting a collaborative
and strategic approach to help strengthen the rare earth element
("REE") supply chain within Canada.
This news is paid advertisement/ news disseminated
on behalf of/issued on behalf of Defense Metals Corp.
Read this news, featuring DEFN in full at https://www.investorideas.com/news/2024/09271DEFN-Saskatchewan-Research-Council-Domestic-REE-Supply-Chain.asp
Guy de Selliers, Executive Chairman
of Defense Metals, commented:
"We are excited to collaborate
with The Saskatchewan Research Council, a recognized leader in rare earth
processing and technology development. This MOU represents a significant step
forward in our goal of becoming part of a secure and sustainable supply chain
for rare earth elements in North America. By working together with SRC, we
believe we can make substantial progress toward closing the rare earth supply
chain loop and ensuring the availability of these critical materials for green
energy and defence applications that are essential for national security."
The MOU outlines a framework for
Defense Metals and SRC to leverage their respective capabilities and interests
in the supply and processing of rare earth materials that are especially
critical to the production of rare earth magnets. The proposed objectives of
this collaboration include:
- Exploring potential collaborations using each Participant's
respective capabilities and interests in the process and supply of rare
earth products used in the rare earths magnet value chain;
- Enabling discussions in connection with the separation of the
Defense Metal's mixed rare earth carbonates into separated rare earth
oxides employing SRC's separation technology design, installation, and
operational expertise; and
- Facilitating negotiations of a long-term agreement with SRC for the
sale and purchase of Defense Metal's mixed rare earth carbonate.
This collaboration aligns with the
broader Canadian Critical Minerals Strategy, which is focused on developing a domestic
industry, reducing reliance on foreign sources of critical minerals and
bolstering national security. Furthermore, it supports broader North American
goals for economic competitiveness and technological innovation in clean energy
and defence technologies.
About The Saskatchewan Research
Council
SRC is Canada's second-largest
research and technology organization, providing services and products to its
1,400 clients in 22 countries around the world for more than 77 years
Since 2020, SRC's Rare Earth
Processing Facility in Saskatoon has received $71 million in funding from the
Government of Saskatchewan, as well as $30 million in combined funding from the
Government of Canada. This funding has been instrumental in helping SRC
construct a vertically and laterally integrated "minerals to metals"
facility equipped with state-of-the-art, proprietary technology developed by
SRC. Development of the facility continues ahead of schedule, producing rare
earth metals at a commercial scale in the summer of 2024 - making Saskatchewan
the first and only jurisdiction to do so in North America.
About Defense Metals Corp. and its
Wicheeda Rare Earth Element Deposit
Defense Metals Corp. is focused on
the development of its 100% owned Wicheeda REE deposit, for which a mineral
resource estimate was reported in 2023 in a Technical Report prepared in
accordance with the Canadian Securities Administrators' National Instrument
43-101 Standards of Disclosure for Mineral Projects ("NI 43-101"),
which is available for review on the Company's profile on SEDAR+ at
www.sedarplus.ca and the Company's website at www.defensemetals.com.
The 8,301-hectare (~20,534-acre)
Wicheeda Project, located approximately 80 kilometres (~50 miles) northeast of
the city of Prince George on the traditional territory of the McLeod Lake
Indian Band in British Columbia, Canada, is readily accessible by a paved
highway and all-weather gravel roads. Nearby, superior infrastructure includes
hydro power transmission lines, gas pipelines, the Canadian National Railway
and major highways that allow easy access to the port facilities at Prince
Rupert, the closest major North American port to Asia.
Defense Metals is a proud member of
Discovery Group. For more information please visit: www.discoverygroup.ca.
For further information, please
visit www.defensemetals.com or contact:
Alex Heath
Senior Vice President, Corporate Development & Interim CFO
Tel: +1 604-354-2491
Email: alex@defensemetals.com
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.
Notice Regarding the Wicheeda REE
Deposit Mineral Resource Estimate
The mineral resource estimate for the
Wicheeda rare earth element (REE) deposit is disclosed in a Technical Report
dated October 27, 2023, effective August 28, 2023, entitled "Technical
Report on the Wicheeda Property, British Columbia, Canada", which was
prepared by APEX Geoscience Ltd. The results of the 2023 MRE were previously
disclosed in summary form in the Company's news release dated September 12,
2023. The Technical Report was prepared in accordance with the Canadian
Securities Administrators' National Instrument 43-101 Standards of Disclosure
for Mineral Projects ("NI 43-101") and is available for review on the
Company's profile on SEDAR+ at www.sedarplus.ca and the Company's website
at www.defensemetals.com. Readers are encouraged to read the Technical
Report in its entirety, including all qualifications, assumptions, and
exclusions.
Cautionary Statement Regarding
"Forward-Looking" Information
This news release contains
"forward-looking information" or "forward-looking
statements" within the meaning of applicable securities laws. 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. 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 anticipated costs
and expenditures, 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 the
risks and uncertainties relating to the interpretation of exploration and
metallurgical results, risks related to the inherent uncertainty of exploration
and development and cost estimates, the potential for unexpected costs and
expenses and those other risks filed under the Company's profile on SEDAR+
(www.sedarplus.ca/). 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 and climate conditions, failure to maintain or
obtain all necessary government permits, approvals and authorizations, failure
to maintain or obtain community acceptance (including First Nations), risks
relating to unanticipated operational difficulties (including failure of
equipment or processes to operate in accordance with specifications or
expectations, cost escalation, unavailability of personnel, materials and equipment,
government action or delays in the receipt of government approvals, industrial
disturbances or other job action, and unanticipated events related to health,
safety and environmental matters), risks relating to inaccurate geological,
metallurgical, engineering and pricing assumptions, decrease in the price of
rare earth elements, the impact of viruses and diseases on the Company's
ability to operate, restriction on labour and international travel and supply
chains, loss of key employees, consultants, officers or directors, increase in
costs, delayed results, 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.
Defense Metals Corp. (TSX-V:DEFN
/OTCQB:DFMTF) is a featured mining stock on Investorideas.com
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