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May 11, 2020

Vancouver, British Columbia – May 11, 2020: Defense Metals Corp. (“Defense Metals” or the “Company”) (TSX-V: DEFN/ DFMTF: OTCQB / 35D: FSE) is pleased to announce the appointment of Mr. Karl T. Wagner as a Strategic Advisor to the Company.

Mr. Wagner brings over 31 years of worldwide experience to Defense Metals including work in Latin America, East Asia, South Asia, the Middle East and North Africa. Mr. Wagner will advise Defense Metals on government relations and business development opportunities worldwide.

Mr. Wagner previously served as Senior Director, Global Security at Tesla. His last position at the Central Intelligence Agency (CIA) was Chief of Counter-Intelligence (CI) Operations. He also served as Executive Assistant to CIA’s Executive Director, Chief of the CIA’s Special Middle East Task Force and in leadership positions in CIA stations overseas including a large station in North Africa, multiple war zones in the Middle East and South Asia, and high CI threat stations in Latin America and East Asia.

Mr. Wagner has an M.A. Security Studies from Georgetown University and a bachelor’s degree in Political Science from University of Illinois. He is a recipient of the National Intelligence Exceptional Achievement Medal (November 2013), the DO Excellence in Leadership Award (2012), 4 Meritorious Unit Citations and 20 Exceptional Performance Awards. Karl has near native fluency in Spanish and professional fluency in Mandarin.

Craig Taylor, Chief Executive Officer and Director of Defense Metals comments: “Karl brings a wealth of experience, strategic know-how, and global awareness to Defense Metals. As former Chief of Counter- Intelligence for the CIA and the head of Global Security for Tesla, his familiarity in working with high-level government and military personnel as well as corporate and technology executives will provide an enormous advantage for Defense Metals moving forward. We are excited to work with Karl and know he will add tremendous value to our team.”

About Defense Metals Corp.

Defense Metals Corp. is an advanced 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”.

For further information, please contact:

Todd Hanas, Bluesky Corporate Communications Ltd. Vice President, Investor Relations Tel: (778) 994 8072 Email:

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 contains “forwardlooking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements that address the appointment of the strategic advisor, and other statements relating to the technical, financial and business prospects of the Company 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 metals, 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 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), increase in costs, litigation, and failure of counterparties to perform their contractual obligations. The Company does not undertake to update forwardlooking statements or forwardlooking information, except as required by law.

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