DFMTF Overview

Government Support: Defense Metals Corp. has received continued support from the Government of Canada and the McLeod Lake Indian Band for the development of its Wicheeda Rare Earth Project, highlighting the importance of critical minerals for Canada's economy and Indigenous partnerships.

Project Significance: The Wicheeda Project aims to enhance Canada's domestic supply of rare earth elements, which are crucial for electric vehicles, renewable energy, and national security, while also creating economic opportunities for local communities.

Private Placement Announcement: Defense Metals Corp. plans to raise up to $15 million through a private placement, consisting of a brokered offering of up to 33,334,000 units and a non-brokered offering of up to 16,666,667 units, with proceeds aimed at advancing their Wicheeda Rare Earth Element project.

Warrant Details and Agent Compensation: Each unit includes a common share and a warrant, with an exercise price of $0.45. The company will pay agents a 7% commission on the brokered offering and provide compensation options for additional shares, while also allowing for potential insider participation in the offering.

Project Development Update: Defense Metals Corp. is advancing its Wicheeda Rare Earth Element project, with plans to initiate a Definitive Feasibility Study in early 2026 following a successful Pre-Feasibility Study that highlighted its potential as the only REE project in North America with proven reserves.

Engagement with Stakeholders: The company is actively collaborating with the McLeod Lake Indian Band and engaging with Canadian and US authorities to secure support for the project, which is crucial for the North American supply of rare earth elements for various industries.

Debt Settlement Agreement: Defense Metals Corp. has entered into a shares-for-debt settlement agreement with HCF International Advisers Limited to settle $158,200 in outstanding payables by issuing 988,750 common shares and 494,375 common share purchase warrants.

Wicheeda Project Development: The company is advancing its Wicheeda Rare Earth Element project, which is in the Feasibility Stage and has shown robust economics in a recent Preliminary Feasibility Study, highlighting its strategic location and infrastructure support.

Debt Settlement Agreement: Defense Metals Corp. has entered into a shares-for-debt settlement agreement with Hatch Ltd., settling $846,547.31 in outstanding payables by issuing 5,290,920 common shares and 2,645,460 warrants.

Future Collaboration: The agreement includes a side letter indicating Defense Metals' intention to engage Hatch for engineering services related to the feasibility study of its Wicheeda Rare Earth Element Project, reflecting a commitment to work with reputable engineering partners.

Appointment of New CFO: Defense Metals Corp. has appointed David Baker as CFO and Head of Strategy, effective August 1, 2025. Baker brings over 20 years of experience in the mining sector, including roles at Ivanhoe Mines and Camino Mineral Resources.

Wicheeda Project Development: The company is focused on advancing its Wicheeda Rare Earth Element project in British Columbia, which has shown robust economics in a recent Preliminary Feasibility Study and is considered strategically important for North America.