Defense Metals Secures Significant Financial Interest for REE Project Development

Vancouver, BC – On June 4, 2025, Defense Metals Corp. announced it has received a formal Letter of Interest (LOI) from Export Development Canada (EDC). This LOI indicates EDC's potential involvement as a Mandated Lead Arranger for a financing package that could go up to USD 250 million. This funding would specifically target the development and construction of the notable Wicheeda Rare Earth Element (REE) Project located in British Columbia, Canada.

This LOI from EDC is a response to Defense Metals' previous request for financing support, relying on detailed information shared by the company and ongoing discussions with EDC, combined with relevant publicly accessible data. Guy de Selliers, Executive Chairman of Defense Metals, expressed satisfaction regarding this development, calling it a robust endorsement of the strategic relevance of the Wicheeda REE Project. He emphasized the role the project would play in advancing various priorities for Canada, such as clean energy transitions and ensuring a reliable supply of critical minerals.

Mark Tory, the company's President and CEO, also remarked on the positive implications of the LOI. He pointed out that the recently released pre-feasibility study on April 7, 2025, confirmed the strong economic viability of the Wicheeda project. Tory reiterated that EDC’s potential financial support could catalyze a comprehensive debt package. Moreover, he noted the formation of several large government-backed equity funds in Canada and Europe aimed at financing such strategically significant projects like Wicheeda. With the project's economic stability, Tory expressed confidence that secure funding would be accessible.

EDC operates as a financially self-sustaining Crown corporation, boasting a strong track record over the past 25 years in structured and project financing. They have participated in over 540 transactions, amounting to an impressive total of USD 40 billion. However, the planned financing from EDC is contingent upon the successful completion of all required due diligence processes.

About the Wicheeda REE Project

Defense Metals Corp. is dedicated to the advancement of its 100% owned, 11,800-hectare (approximately 29,158 acres) Wicheeda Rare Earth Element property. This site is situated on the traditional lands of the McLeod Lake Indian Band in British Columbia, approximately 80 kilometers (about 50 miles) northeast of Prince George. The project is conveniently accessible due to a paved highway and all-weather gravel roads, ensuring proximity to infrastructure such as power transmission lines and gas pipelines. Additionally, the Canadian National Railway and the major highways facilitate easy transport to the port facilities at Prince Rupert, the nearest major North American port serving Asia.

The completion of a Preliminary Feasibility Study (PFS) recently corroborated the significant financial promise of the Wicheeda project, adding to the optimism surrounding its future.

For more information about Defense Metals or the Wicheeda REE Project, visit defensemetals.com or contact:
Mark Tory
President and CEO
Tel: +1 604-445-8179
Email: [email protected]

Neither the TSXV nor any related regulatory services accept responsibility for the accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

It is important to note that this news release includes forward-looking statements, referring to anticipated events and potential developments regarding EDC’s funding for the Wicheeda Project. While these projections are made based on reasonable assumptions, they are not guaranteed outcomes. Actual results may materially differ due to numerous factors like market conditions, availability of financing, and other uncertainties inherent in the business and economic environments in which Defense Metals operates.

The company does not undertake to update forward-looking statements except as required by law.