#Canada #Defense Metals #Wicheeda Project #Rare Earths #Prince George

Defense Metals Receives Conditional Approval for C$1.88 Million in Funding

Defense Metals Corp. has officially announced its conditional approval for a funding package of up to C$1,878,250 under the Critical Minerals Infrastructure Fund (CMIF). Situated near Prince George, British Columbia, this funding is aimed at advancing the Wicheeda Rare Earth Elements (REE) Clean Energy and Transportation Infrastructure Project. The approval marks a pivotal moment in developmental efforts for the Wicheeda Project, which emphasizes sustainable energy solutions and efficient infrastructure to support the growing demand for rare earth elements used in modern technologies and clean energy systems.

The funding announced on March 4, 2026, is subject to final due diligence. Its primary focus will be on enhancing critical infrastructure for energy and transportation necessary for the Wicheeda Project. Among the critical components to be developed is a new 60-kilometer transmission line that will connect the BC Hydro grid directly to the mining site, providing up to 35 megawatts (MW) of electricity. This transition to a reliable, hydroelectric power source represents a significant step for the project, allowing for reduced carbon emissions and improved operational efficiency.

In addition to the electrical transmission line, funded improvements will extend to upgrading the existing 43-kilometer forest service road that links Highway 97 to the mine site. By enhancing road access, the upgrades will facilitate better logistics and safety during construction and operations, which are crucial for the project's success.

The Wicheeda REE Clean Energy and Transportation Infrastructure Project is set to kick off in 2026, with completion anticipated by 2028. This timeline aligns with several initiatives, including:

• - Integration studies for the rail network
• - Engineering designs for infrastructure upgrades
• - Engagement programs with Indigenous communities to ensure collaborative participation in the project

Mark Tory, the CEO of Defense Metals, commented on the significance of this approval, stating, “Securing access to clean low-carbon hydroelectric power and optimizing transportation networks are crucial elements that position Wicheeda as a key domestic source of rare earth elements vital for both clean energy technologies and modern transport systems.”

Tim Hodgson, Canada’s Minister of Energy and Natural Resources, emphasized the importance of this investment, expressing that the Wicheeda Project exemplifies how strategic infrastructure can unlock the potential of the country’s mineral resources, ultimately benefiting Canadian families and businesses.

As global demand for renewable energy solutions increases, rare earth elements are becoming increasingly important, notably in electric vehicles and renewable energy technologies. Defense Metals remains steadfast in its commitment to advancing the Wicheeda Project through responsible resource development, aiming to create sustainable long-term value for stakeholders and the wider community.

Looking ahead, additional updates on the project will be provided as it progresses into the implementation phase following due diligence. Defense Metals Corp. continues its proactive approach in ensuring that the Wicheeda Rare Earth Element Project not only meets market demand but does so with a focus on sustainability and community engagement. With ongoing efforts and strategic initiatives, the company aims to solidify itself as a leading supplier of essential rare earth elements that support both national security and advanced manufacturing.

For more information about Defense Metals and the Wicheeda Project, visit www.defensemetals.com.