VANCOUVER, BC, Jan. 19, 2021 /CNW/ - Defense Metals Corp.
("Defense Metals" or the "Company") (TSXV: DEFN)
(OTCQB: DFMTF) (FSE: 35D) is pleased to announce its support
as a Founding Member of the recently launched Canadian
Critical Minerals and Materials Alliance (C2M2A). Defense
Metals and nine other C2M2A founders reflect a broad knowledge base
across the suite of critical material supply chains; including
current & prospective producers and processors, commercial
& national laboratories, academia and innovation hubs, and
engineering & business experts.
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Defense Metals support of the C2M2A initiative, representing a
clear industry voice to guide Government of Canada policy towards establishing
Canadian-based critical material supply chains, will greatly
benefit the advancement of its 1,708 hectare (4,220 acre) Wicheeda
Rare Earth Element (REE) Property ("Wicheeda") located near
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% LREO1.
Launched on January 14,
2021 the Canadian Critical Minerals and Materials
Alliance is an industry association aimed at advancing resilient
critical materials supply chains for Canada's cleantech economy. The
launch of C2M2A builds on the earlier
establishment of the Canadian Rare
Earth Elements Network (CREEN) in 2013 and
its success in building awareness on the
growing importance of rare earth elements.
Recent geopolitical developments have underscored the
importance of the critical materials supply
chains necessary for clean energy, electric vehicles,
communications, medical and aerospace
applications. A coordinated supply chain
consortium, which represents both upstream and
downstream critical materials producers (e.g., rare
earth elements, lithium, cobalt, graphite and
others) will help support policymakers and
industry players implement strategies that will enable full
Canadian participation in the sector.
Other international jurisdictions including the
European Union, Japan, the
United States and Australia have
already made announcements on their critical materials strategy. Alliance members
agree that it is time
for Canada to step up and
move forward with its own strategy.
Canada is well
positioned to implement its vision
for a clean energy future because of its enormous
critical minerals resource wealth; however, the
country must implement a strategy to use
this wealth to establish the
downstream processing capacity to create the
refined materials needed in
electric vehicle and battery technologies.
Recent announcements by the
federal government with Ford Motors and
General Motors on their
plans to establish more electric vehicle manufacturing capacity in Canada confirm Canada's
commitment to a low-carbon future. C2M2A will help
support further investments in this rapidly
advancing sector of the
economy, particularly in outlining the
effort and costs to build value-
creating materials chains in Canada.
Craig Taylor, CEO comments:
"With the support of the C2M2A initiative Defense Metals
continues to establish itself as one of the industry leaders in the
advancing Canadian-based critical material supply chains. As
North America and the world move
toward widespread adoption of electric vehicles and other green
technologies there will be upward demand pressure on critical REE
magnet-metals, principally NdPr. Defense Metals is well-positioned
to meet demand for North American-sourced critical REE's with one
of the highest-grade road accessible deposits, with potential to
reduce the political and strategic risk of current reliance on
Chinese REE sources."
About C2M2A
C2M2A is a non-profit, independent organization with
a mission to foster and enhance Canada's role
as a leader in the
production of critical materials manufacturing in support of the
global
transition to a low-carbon, clean-growth economy. By focusing on rapidly advancing the
establishment of economic critical materials production and
manufacturing capacity, Canada will
grow its economy, compete globally and
continue to protect the
environment. C2M2A will enable
stakeholders around the
country to collaborate on shared priorities while respecting each
jurisdiction's needs and plans, including the
need to ensure the
continued competitiveness and
viability of businesses.
For more information, please visit
www.C2M2A.org.
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, XRT study and the
expected benefits and results therefrom, 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 or obtain 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.
_____________________________
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)
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SOURCE Defense Metals Corp.