Defense Metals Secures Critical Funding for Wicheeda Rare Earth Project

Defense Metals Corp. (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) has received a significant boost for its Wicheeda Rare Earth Element (REE) Project, with the announcement of conditional funding approval for up to C$853,825 from Natural Resource Canada's Critical Minerals Infrastructure Fund (CMIF). This funding will support an economic study assessing the construction of a 46km transmission line connecting Wicheeda to the provincial hydroelectric power grid, a crucial step towards ensuring a reliable and sustainable power supply for the project.

The CMIF funding will enable Defense Metals to undertake studies for the proposed 46km transmission line, which will connect the Wicheeda Project to British Columbia's provincial hydroelectric power grid. This initiative represents a critical step toward ensuring a reliable, sustainable power supply for the project while reducing reliance on alternative energy sources. The scope of work under this funding includes powerline engineering, environmental studies, archaeological assessments, and ongoing Indigenous engagement with the McLeod Lake Indian Band (MLIB).



As announced on January 17, 2024, Defense Metals and MLIB have an established co-design agreement, ensuring that Indigenous perspectives are integrated into the project assessment and development. MLIB's equity partnership in the project further reinforces their involvement in decision-making processes. The CMIF funding builds on the recently completed Pre-Feasibility Study (PFS), which confirmed the Wicheeda Project's strong economic viability and potential to become a significant North American supplier of critical rare earth elements.

The Wicheeda Project is a strategically significant asset for Canada's critical minerals sector, aiming to contribute to the domestic supply of rare earths essential for clean energy, defense, and advanced technology applications. The funding from the CMIF is a testament to the project's potential and the Canadian government's commitment to supporting the development of critical mineral infrastructure.

In conclusion, the funding from Natural Resource Canada's Critical Minerals Infrastructure Fund is a significant milestone for the Wicheeda Rare Earth Element Project, bringing it one step closer to becoming a reality. With the support of the McLeod Lake Indian Band and the Canadian government, Defense Metals is well-positioned to advance the project and contribute to the domestic supply of critical rare earth elements. As the demand for rare earth elements continues to grow, the Wicheeda Project has the potential to play a crucial role in securing Canada's position as a global leader in critical minerals production.