$DFMTF) Advances Pre-feasibility Research; @defensemetals

October 8, 2023

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#REE #Inventory Information- Protection Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) Advances Pre-feasibility Research; @defensemetals

Vancouver, British Columbia – August 16, 2023: Investorideas.com Newswire, –Mining/Metals/ Inexperienced Power Inventory news- Protection Metals Corp. (“Protection Metals” or the “Firm”) (TSX-V:DEFN / OTCQB:DFMTF/ 35D: FSE) is happy to supply a progress replace with respect to its 2023 website infrastructure geotechnical investigations. The work, with help of the Protection Metals’ technical workforce and APEX Geoscience Ltd., is being accomplished by SRK Consulting (Canada) Inc. (“SRK”) one of many principal consultants for the preliminary feasibility examine (“PFS”) concerning the Firm’s Wicheeda Uncommon Earth Ingredient (REE) Challenge positioned close to Prince George, Canada.

Learn this information, that includes DEFN in full at https://www.investorideas.com/information/2023/mining/08161DEFN-Pre-Feasibility-Research.asp

Craig Taylor, CEO of Protection Metals, commented:

“It’s nice to see our technical consulting groups making important headway with the Wicheeda website investigations. Defence Metals has assembled a world class workforce of consultants who’ve each the expertise and technical expertise to convey this mission by pre-feasibility.”

The SRK geotechnical investigation consists of the next scopes:

· Geotechnical engineering (waste rock, tailings, contact water pond, and website infrastructure geotechnical investigation),

· Tailings different evaluation previous to advancing into PFS-level design of a most well-liked different,

· Geochemical characterization (to help mine planning/waste administration and to develop preliminary water chemistry predictions for the primary mine amenities).

The work accomplished up to now included area website inspections from SRK personnel: Principial Advisor – Mining Rock Mechanics, Ed Saunders, P.Eng. (waste storage facility geotechnical); Principal Advisor – Geochemistry, Kirsty Ketchum, Ph.D., P.Geo. (metallic leaching and acid/alkaline rock drainage geochemical characterization); and Senior Advisor- Mining Rock Mechanics, Aton Bloem (open pit geotechnical).

Web site infrastructure geotechnical investigations deliberate embody a collection of excavated take a look at pits, and sonic overburden drill holes designed to help the preliminary characterization of the shallow soil subsurface and bedrock foundations of potential future waste rock storage (WSF), mineralization stockpile, contact water pond (CWP), crusher, processing plant (INF), and tailings storage facility (TSF) places.

Up to now a complete of 13 excavated exams pits and 4 sonic overburden geotechnical holes for a complete of 93 metres have been accomplished to characterize surficial materials circumstances throughout the proposed WSF, CWP, and TSF areas (Photographs 1 and a couple of). Web site geotechnical investigations encountered shallow overburden circumstances (nil or <1 metre overburden depth), excavated take a look at pit depths starting from 1 to five metres; and sonic overburden drill holes in areas of thicker surficial materials starting from 7 metre to >36.6 metre depth to bedrock.

SRK on website engineering consultants supervised the investigations and carried out soil geotechnical logging, direct testing, sampling, pictures of recovered supplies, standpipe set up, and coordination of laboratory testing. SRK will course of the info collected from the sonic drilling and take a look at pit investigations, and laboratory testing outcomes will probably be included into the QA/QC dataset.

Picture 1: SRK engineering personnel logging WSF sonic overburden materials

Picture 2: Excavated take a look at pit sampling underway

Along with infrastructure geotechnical investigations, SRK has commenced a tailings alternate options evaluation previous to advancing into PFS-level design of a most well-liked different. It will embody tailings characterization and growth of design standards, a siting analysis, and an alternate options trade-off.

As a part of the geochemical characterization scopes SRK has accomplished a overview and compilation of website geological and geochemical information and drill core logs which have been acquired for the reason that 2021 preliminary financial evaluation (PEA). These information will probably be used to develop a sampling plan of the present drill core for geochemical characterization of the proposed mine amenities, and future set-up of on-site kinetic leach exams (barrel exams). Knowledge will probably be interpreted to help mine planning/waste administration and to develop preliminary water chemistry predictions for the primary mine amenities (supply phrases). Supply phrases are an enter to the positioning water and cargo stability mannequin.

Excavated take a look at pit and sonic overburden drilling is at present paused and is anticipated to renew as a part of the WSF, CWP, INF, and TSF (and TSF different) geotechnical investigations throughout September at the side of the deliberate drilling of an extra 4 (4) pit geotechnical core holes totalling 820 metres.

Certified Particular person

The scientific and technical data contained on this information launch because it pertains to the Wicheeda REE Challenge has been reviewed and authorised by Kristopher J. Raffle, P.Geo. (B.C.), Principal and Advisor of APEX Geoscience Ltd. of Edmonton, Alberta, who’s a director of Protection Metals and a “Certified Particular person” as outlined in NI 43-101.

In regards to the Wicheeda REE Property

Protection Metals 100% owned, 6,759-hectare (~16,702-acre) Wicheeda Challenge is positioned roughly 80 km northeast of town of Prince George, British Columbia; inhabitants 77,000. The Wicheeda REE Challenge is quickly accessible by all-weather gravel roads and is close to infrastructure, together with hydro energy transmission strains and fuel pipelines. The close by Canadian Nationwide Railway and main highways enable quick access to the port amenities at Prince Rupert, the closest main North American port to Asia.

The 2021 Wicheeda REE Challenge Preliminary Financial Evaluation technical report outlined a sturdy after-tax internet current worth (NPV@8%) of $517 million and an 18% IRR. This PEA contemplated an open pit mining operation with a 1.75:1 (waste:mill feed) strip ratio offering a 1.8 Mtpa (“million tonnes per yr”) mill throughput producing a median of 25,423 tonnes REO yearly over a 16 yr mine life. A Section 1 preliminary pit strip ratio of 0.63:1 (waste:mill feed) would yield speedy entry to increased grade floor mineralization in yr 1 and payback of $440 million preliminary capital inside 5 years.

About Protection Metals Corp.

Protection Metals Corp. is a mineral exploration and growth firm targeted on the event of its 100% owned Wicheeda Uncommon Earth Ingredient Deposit positioned close to Prince George, British Columbia, Canada. Protection Metals Corp. trades on the TSX Enterprise Change underneath the image “DEFN”, in america, buying and selling image “DFMTF” on the OTCQB and in Germany on the Frankfurt Change underneath “35D”.

Protection Metals is a proud member of Discovery Group. For extra data please go to: http://www.discoverygroup.ca/

For additional data, please contact:

Todd Hanas, Bluesky Company Communications Ltd.

Vice President, Investor Relations

Tel: (778) 994 8072

Electronic mail: todd@blueskycorp.ca

Neither the TSX Enterprise Change nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Change) accepts accountability for the adequacy or accuracy of this information launch.

Cautionary Assertion Relating to “Ahead-Wanting” Info

This information launch incorporates “ahead‐wanting data or statements” throughout the which means of relevant securities legal guidelines, which can embody, with out limitation, statements regarding advancing the Wicheeda REE Challenge, completion of extra geotechnical work together with pit geotechnical core holes and the anticipated timelines, the anticipated completion of the PFS, the technical, monetary and enterprise prospects of the Firm, its mission and different issues. All statements on this information launch, apart from statements of historic information, that deal with occasions or developments that the Firm expects to happen, are forward-looking statements. Though the Firm believes the expectations expressed in such forward-looking statements are based mostly on affordable assumptions, such statements usually are not ensures of future efficiency and precise outcomes could differ materially from these within the forward-looking statements. Such statements and knowledge are based mostly on quite a few assumptions concerning current and future enterprise methods and the atmosphere through which the Firm will function sooner or later, together with the worth of uncommon earth parts, the anticipated prices and expenditures, accuracy of assay outcomes, efficiency of obtainable laboratory and different associated providers, future working prices, interpretation of geological, engineering and metallurgical information, the power to realize its objectives, that basic enterprise and financial circumstances won’t change in a fabric antagonistic method, that financing will probably be obtainable if and when wanted and on affordable phrases. Such forward-looking data displays the Firm’s views with respect to future occasions and is topic to dangers, uncertainties and assumptions, together with the dangers and uncertainties regarding the interpretation of exploration, engineering and metallurgical outcomes, dangers associated to the inherent uncertainty of exploration, metallurgy and growth and value estimates, the potential for sudden prices and bills and these different dangers filed underneath the Firm’s profile on SEDAR at www.sedarplus.ca. Whereas such estimates and assumptions are thought of affordable by the administration of the Firm, they’re inherently topic to important enterprise, financial, aggressive and regulatory uncertainties and dangers. Components that would trigger precise outcomes to vary materially from these in ahead wanting statements embody, however usually are not restricted to, continued availability of capital and financing and basic financial, market or enterprise circumstances, antagonistic climate and local weather circumstances, failure to take care of or get hold of all obligatory authorities permits, approvals and authorizations, failure to take care of group acceptance (together with First Nations), dangers regarding unanticipated operational difficulties (together with failure of kit or processes to function in accordance with specs or expectations, value escalation, unavailability of personnel, supplies and tools, authorities motion or delays within the receipt of presidency approvals, industrial disturbances or different job motion, and unanticipated occasions associated to well being, security and environmental issues), dangers regarding inaccurate geological, metallurgical and engineering assumptions, lower within the worth of uncommon earth parts, the influence of Covid-19 or different viruses and illnesses on the Firm’s skill to function, an incapacity to foretell and counteract the results of COVID-19 and different viruses and illnesses on the enterprise of the Firm, the worth of commodities, capital market circumstances, restriction on labour and worldwide journey and provide chains, lack of key workers, consultants, or administrators, improve in prices, delayed outcomes, litigation, and failure of counterparties to carry out their contractual obligations. The Firm doesn’t undertake to replace ahead‐wanting statements or ahead‐wanting data, besides as required by regulation.

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