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Defense Metals Corp. Drills 2.50% Total Rare Earth Oxide Over 176 Metres; Including 6.14% Over 20 Metres From Surface at Wicheeda

Mar 10, 2022

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VANCOUVER, BC, March 10, 2022 /CNW/ - Defense Metals Corp. ("Defense Metals" or the "Company") (TSX-V: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased to announce results for an additional four diamond drill holes totalling 615 metres from the Company's 29 hole, 5,349 metre diamond drill program completed during fall 2021. Drill holes WI21-45 through WI21-48 were collared from the same site and within the northern area of the Wicheeda Rare Earth Element (REE) deposit.

Drill hole WI21-48 returned 2.50% TREO (total rare earth oxide) over 176 metres; including 6.14% TREO over 20 metres from surface1. The drill hole terminated on the east side of the deposit 30 metres beyond the mineral resource block model.

The Company continues to receive additional assay results from the 2021 Wicheeda REE Deposit resource expansion and delineation campaign that will be released in the next days and weeks. Luisa Moreno, President, and Director of Defense Metals commented: "Drilling within the north central area of the Wicheeda Deposit has returned some of our most significant intercepts of REE mineralization on a grade X width basis in WI21-48 while also yielding some of the highest grade REE mineralization to date near surface." Delineation drill holes WI21-45 (-75o dip / 240o azimuth) and WI21-47 (-45o dip / 145o azimuth) established the northwest margin of the Wicheeda Deposit in the near surface intercepting mixed syenite and xenolithic carbonatite rocks above resource cut-off grade averaging 1.46% TREO over 116 metres; including 2.27% TREO over 42 metres1; and 0.58% TREO over 81 metres1, respectively (Table 1 and Figure 1). Infill drill holes WI21-46 (-50o dip / 190o azimuth) and WI21-48 (-60o dip / 280o azimuth) targeting the north central area of the deposit both yielded broad REE mineralized dolomite carbonatite intercepts consistent with nearby drill holes. WI21-46 drilling southwest and exiting the interpreted structural footwall of the deposit returned 1.66% TREO over 116 metres; including 2.27% TREO over 42 metres, and 2.32% TREO over 18 metres1. Drilling southeast WI21-48 returned 2.50% TREO over 176 metres; including 6.14% TREO over 20 metres1 from surface (Figure 2).

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