Defense Metals Corp. announced Rare Earth Element assay results from an additional eight core drill holes, totalling 2,104 metres, completed during 2022 at its 100% owned Wicheeda REE Deposit. These assay results are from two exploration, three resource delineation, and three pit slope geotechnical core drill holes, one of which (hole WI22-73) returned the second longest REE-mineralized intercept of the 2021 and 2022 Wicheeda drilling campaigns (10,859 metres in 47 core holes).

Pit slope geotechnical drill hole WI22-74 (-65o dip at azimuth 139o) drilled into the south pit wall intersected high-grade mineralized dolomite carbonatite that assayed 3.77% total rare earth oxide ("TREO") over 30 metres ("m") from surface and 2.52% TREO over 59 m at mid-hole depths, within a broader zone averaging 2.03% TREO over a 192 m interval. Resource delineation drill holes WI22-71 (-50o dip at 163o azimuth) and WI22-73 (-60o dip at azimuth 134o) drilled within the central area of the deposit similarly intersected mineralized dolomite-carbonatite, from surface, assaying 2.83% TREO over 66 m and 2.35% TREO over 81 m, respectively; within broader mineralized zones yielding 1.47% TREO over 207 m, and 1.42% TREO over 222 m, respectively. High-wall pit slope geotechnical drill hole WI22-75 (-60o dip at 110o azimuth), collared 100 m east of the Wicheeda Deposit, and greenfield exploration drill holes WI22-65 (-60o dip at 140o azimuth) and WI22-66 (-60o dip at 140o azimuth), which targeted REE soil geochemical anomalies 500 m southwest and 1,000 m northwest of the Wicheeda Deposit, did not return significant REE mineralization.

Geotechnical drill hole data collected will support future pre-feasibility level mine planning studies. The 2022 Wicheeda REE Deposit resource delineation and pit slope geotechnical drill program comprised 18 core drill holes totalling 5,510 m (~18,077 feet). Assay results have been announced for a total of 16 holes to date, with results of the remaining two holes expected shortly.