VANCOUVER, July 9, 2019 /CNW/ - Defense Metals Corp.
("Defense Metals") (TSX-V:DEFN / OTCQB:DFMTF / FSE:35D) is pleased
to announce the filing of an amended technical report titled
"Wicheeda Rare Earth Element Project, British Columbia, Canada" dated effective
June 20, 2019 (the "Technical
Report"), prepared by Sue Bird,
P. Eng., Gary Giroux, P.Eng. and
Tracey Meintjes, P.Eng, all of whom
are independent "qualified persons" within the meaning of NI 43-101
(defined herein). The Technical Report has been prepared to correct
deficiencies, identified by the British Columbia Securities
Commission ("BCSC"), in the technical report filed
December 24, 2018, dated effective
December 17, 2018. These deficiencies
have been addressed and corrected in the Technical Report and a
copy has been filed on SEDAR at www.sedar.com and posted on Defense
Metals' website at www.defensemetals.com.
The Technical Report was prepared in accordance with National
Instrument 43-101 - Standards for Disclosure for Mineral
Projects ("NI 43-101").
About Defense Metals Corp.
Defense Metals Corp. is a mineral exploration company focused on
the acquisition, exploration and development of mineral deposits
containing metals and elements commonly used in electric power
markets, the military and for national security concerns 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 1,780 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".
The scientific and technical information contained in this news
release has been reviewed and approved by Kristopher J. Raffle,
P.Geo. (BC) Principal and Consultant of APEX Geoscience Ltd. of
Edmonton, AB, a "Qualified Person"
as defined in NI 43-101.
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.
Forward Looking Information
This news release includes certain statements that constitute
"forward-looking information" within the meaning of applicable
securities law, including without limitation, the Defense Metals'
plans for its properties/projects, other statements relating to the
technical, financial and business prospects of Defense Metals, and
other matters.
Forward-looking statements address future events and conditions
and are necessarily based upon a number of estimates and
assumptions. These statements relate to analyses and other
information that are based on forecasts of future results,
estimates of amounts not yet determinable and assumptions of
management. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but
not always, using words or phrases such as "expects" or "does not
expect", "is expected", "anticipates" or "does not anticipate",
"plans", "estimates" or "intends", or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved), and variations of such words, and
similar expressions are not statements of historical fact and may
be forward-looking statements. Forward-looking statement are
necessarily based upon a number of factors that, if untrue, could
cause the actual results, performances or achievements of Defense
Metals to be materially different from future results, performances
or achievements express or implied by such statements. Such
statements and information are based on numerous assumptions
regarding present and future business strategies and the
environment in which Defense Metals will operate in the future,
including the price of metals, anticipated costs and the ability to
achieve 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, and that
third party contractors, equipment and supplies and governmental
and other approvals required to conduct Defense Metals' planned
exploration activities will be available on reasonable terms and in
a timely manner. While such estimates and assumptions are
considered reasonable by the management of Defense Metals, they are
inherently subject to significant business, economic, competitive
and regulatory uncertainties and risks.
Forward-looking statements are subject to a variety of risks and
uncertainties, which could cause actual events, level of activity,
performance or results to differ materially from those reflected in
the forward-looking statements, including, without limitation: (i)
risks related to gold, copper, uranium, rare earth elements, and
other commodity price fluctuations; (ii) risks and uncertainties
relating to the interpretation of exploration results; (iii) risks
related to the inherent uncertainty of exploration and cost
estimates and the potential for unexpected costs and expenses; (iv)
that resource exploration and development is a speculative
business; (v) that Defense Metals may lose or abandon its property
interests or may fail to receive necessary licences and
permits; (vi) that environmental laws and regulations may
become more onerous; (vii) that Defense Metals may not be
able to raise additional funds when necessary; (viii) the
possibility that future exploration, development or mining results
will not be consistent with Defense Metals' expectations; (ix)
exploration and development risks, including risks related to
accidents, equipment breakdowns, labour disputes or other
unanticipated difficulties with or interruptions in exploration and
development; * competition; (xi) the potential for delays in
exploration or development activities or the completion of geologic
reports or studies; (xii) the uncertainty of profitability based
upon Defense Metals' history of losses; (xiii) risks related to
environmental regulation and liability; (xiv) risks associated with
failure to maintain community acceptance, agreements and
permissions (generally referred to as "social licence"), including
local First Nations; (xv) risks relating to obtaining and
maintaining all necessary government permits, approvals and
authorizations relating to the continued exploration and
development of Defense Metals' projects; (xvi) risks related to the
outcome of legal actions; (xvii) political and regulatory risks
associated with mining and exploration; (xix) risks related to
current global financial conditions; and (xx) other risks and
uncertainties related to Defense Metals' prospects, properties and
business strategy. These risks, as well as others, could cause
actual results and events to vary significantly.
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, the loss of key
directors, employees, advisors or consultants, adverse weather
conditions, increase in costs, equipment failures, litigation,
failure of counterparties to perform their contractual obligations
and fees charged by service providers. Investors are cautioned that
forward-looking statements are not guarantees of future performance
or events and, accordingly are cautioned not to put undue reliance
on forward-looking statements due to the inherent uncertainty of
such statements. The forward-looking statements included in this
news release are made as of the date hereof and Defense Metals
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as expressly required by
applicable securities legislation.
SOURCE Defense Metals Corp.