VANCOUVER, BC, Dec. 2, 2020 /CNW/ - Defense Metals Corp.
("Defense Metals" or the "Company") (TSXV: DEFN)
(OTCQB: DFMTF) (FSE: 35D) is pleased to announce the
appointment of Mr. Jamie Spratt as a
Strategic Advisor to the Company.
Mr. Spratt is Principal at Walmsley Capital Inc., a focused
mining corporate finance and advisory business that he founded in
2019. Over the past 14 years, Jamie has developed extensive
mining capital markets and investment sector experience. He
has built a strong reputation as an analyst and advisor having
built deep partnerships with mining CEOs and institutional
investors. Jamie was a Partner and Equity Research Analyst at
Clarus Securities Inc., a small and mid capitalization focused
boutique investment bank for 10 years, where he was instrumental in
building one of the leading mining practices in Canada.
Based on his track record, Jamie became a highly rated mining
analyst and attracted top institutional investors to many of his
investment ideas. Jamie started his career in investment
banking at an independent investment bank where he advised on
M&A, merchant banking and corporate finance mandates primarily
in the metals and mining sector and achieved valuable transaction
experience. He has an MBA from the Rotman School of Management, a
B.A. in Applied Economics from Queen's University and a CFA
Charterholder. He is also a registered dealing representative at
Belco Private Capital Inc., an exempt market dealer.
Craig Taylor, CEO comments:
"Mr. Spratt brings a wealth of corporate finance,
capital markets, and M&A experience to bear on
Defense Metals efforts to advance the Wicheeda REE Deposit.
We look forward to Mr. Spratt's contributions in light of
sustained upward price pressures on critical magnet metals,
principally neodymium and praseodymium. Over the past six months we
have seen an 80% increase in neodymium oxide spot prices from
approximately USD$40/kg in early June
to most recently USD$72/kg as of
December 1, 20201. Defense
Metals believes these price increases represent real future demand
trends triggered as a result of the beginning of a fundamental
shift towards the green energy-electric vehicle
sector"
Wicheeda REE Project
The Wicheeda REE 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% LREO2.
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.
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
Company's plans for its Wicheeda project, the technical, financial
and business prospects of the Company, its project and other
matters. 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. 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 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.
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Source:
http://www.asianmetal.com accessed December 1, 2020
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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)
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SOURCE Defense Metals Corp.