VANCOUVER, Aug. 19, 2019 /CNW/ - Defense Metals Corp. ("Defense Metals" or the "Company") (DEFN: TSX-V / DFMTF: OTCQB / 35D: FSE) is pleased to announce that Mr. Alex W. Knox has agreed to consult for Defense Metals as a technical advisor to its Wicheeda Rare Earth Element ("REE") Project located 80 kilometres (50 miles) northeast of the city of Prince George, British Columbia.
Mr. Knox has worked in the exploration and development of carbonatite and REE deposits since 1984, first with Molycorp Inc., at the time the owner of the producing Mountain Pass, California, light REE mine, and later as an independent consultant for various public and private companies and projects throughout North America. Mr. Knox was part of the team that discovered the Kipawa heavy-enriched REE deposit in southwest Quebec, as well as the Ashram light-enriched REE deposit in northern Quebec. He has extensive experience in carbonatite/REE geological environments and has also worked on the Oka carbonatite complex near Montreal and the Prairie Lake carbonatite in northwestern Ontario, among others.
His duties as technical advisor to Defense Metals will include site visits during the current drill program (see Defense Metals news release dated August 12, 2019), reviewing existing drill core from previous drill programs and new drill core generated from the current diamond drill program. Mr. Knox will also provide his extensive carbonatite-hosted REE deposit expertise to assist Defense Metals in the development of a detailed geologic model for the Wicheeda REE deposit.
Craig Taylor, CEO of Defense Metals, stated; "We are extremely pleased to have Mr. Knox agree to come on board as technical advisor with respect to the Wicheeda REE Project. Defense Metals looks forward to leveraging Mr. Knox' significant REE experience to advance its geologic understanding of the Wicheeda REE deposit".
About Defense Metals
Defense Metals is a 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, light weight, rare earth magnets. Defense Metals primary focus is to exercise its option to acquire 100% of the 1,780 hectare Wicheeda REE Project. Defense Metals Corp. trades in Canada under "DEFN" on the TSX Venture Exchange, The United States, under "DFMTF" on the OTCQB and the German, Frankfurt Exchange under the symbol of "35D".
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 includes certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the development of a geological model of the Wicheeda REE deposit, drilling on the Wicheeda REE Project, comments regarding the timing and content of current and upcoming work programs, the technical advisor's relationship and work with the Company and on its projects, and other statements relating to the business and technical prospects of the Company. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "estimates" or "intends", or stating that certain actions, events or results "may", "could", "might" or "will" be taken, occur or be achieved), and variations of such words, and similar expressions are not statements of historical fact and may be forward-looking statements. Forward-looking statement are necessarily based upon a number of factors that, if untrue, could cause the actual results, performances or achievements of the Company to be materially different from future results, performances or achievements express or implied by such 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, anticipated costs and the ability to achieve 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, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company's planned exploration activities will be available on reasonable terms and in a timely manner. Forward-looking statements are subject to a variety of risks and uncertainties, which could cause actual events, level of activity, performance or results to differ materially from those reflected in the forward-looking statements, including, without limitation: (i) risks related to rare earth elements, and other commodity price fluctuations; (ii) risks and uncertainties relating to the interpretation of exploration results; (iii) risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses; (iv) that resource exploration and development is a speculative business; (v) that the Company may lose or abandon its property interests or may fail to receive necessary licences and permits; (vi) that environmental laws and regulations may become more onerous; (vii) that the Company may not be able to raise additional funds when necessary; (viii) the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; (ix) exploration and development risks, including risks related to accidents, equipment breakdowns, labour disputes or other unanticipated difficulties with or interruptions in exploration and development; * competition; (xi) the potential for delays in exploration or development activities or the completion of geologic reports or studies; (xii) risks related to environmental regulation and liability; (xiii) risks associated with failure to maintain community acceptance, agreements and permissions (generally referred to as "social licence"), including local First Nations; (xiv) risks relating to obtaining and maintaining all necessary government permits, approvals and authorizations relating to the continued exploration and development of the Company's projects; (xv) risks related to the outcome of legal actions; (xvi) political and regulatory risks associated with mining and exploration; (xvii) and risks related to current global financial conditions. These risks, as well as others, could cause actual results and events to vary significantly. 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, the loss of key directors, employees, advisors or consultants, volatility in metals prices, adverse weather conditions, equipment failures, failure of counterparties to perform their contractual obligations and fees charged by service providers. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
SOURCE Defense Metals Corp.
For further information: please visit https://defensemetals.com/ or contact: Todd Hanas, Bluesky Corporate Communications Ltd., Vice President, Investor Relations, Tel: (778) 994 8072, Email: [email protected]