DEFN - Breaking News: Defense Metals Attends U.S. Embassy Ottawa 2021 SelectUSA Virtual Investment Summit As A Canadian Delegation Member

Defense Metals Corp. (OTCQB: DFMTF) (TSX-V: DEFN) (FSE: 35D) is pleased to announce that having been invited by the U.S Embassy in Ottawa , it will be attending 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% LREO ¹ .

The Company continues to rapidly advance the Wicheeda REE deposit on multiple fronts. Highlights of current, ongoing and planned work during 2021 include:

• Plans for a minimum 2,000 metre and up to 5,000 metre resource expansion and definition drill campaign ( see Defense Metal news release dated May 26, 2021 )
• Continuation of ongoing environmental baseline monitoring program initiated approximately one year ago (see Defense Metal news release dated July 8, 2020 )
• Nearing completion of infill hydrometallurgical optimisation test-work ( see Defense Metal news release dated May 11, 2021 )
• Preparation of high-grade REE mineral concentrate samples for shipment and evaluation by multiple potential future offtake partners or refineries ( see Defense Metal news release dated April 12, 2021 )
• Resource optimization and economic scoping studies preparatory to a Preliminary Economic Assessment (PEA)( see Defense Metal news release dated March 30, 2021 )

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.

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1} Technical Report on the Wicheeda Property, British Columbia , effective June 27, 2020 and prepared by APEX Geoscience Ltd. ( Steven J. Nicholls , B.A. Sc., MAIG and Kristopher J. Raffle, B.Sc., P.Geo.) is available under Defense Metals Corp.’s profile on SEDAR ( www.sedar.com )

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

Craig Taylor , CEO of Defense Metals, stated: “Defense Metals is excited to attend the 2021 SelectUSA Investment Summit. We will take full advantage of this unique opportunity to meet with advance a potential United States growth strategy and advance conversations 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 continue to develop its place as a critical player in the U.S. industrial metals industry.”

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”.

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