Renewable Power Shares- Perception Into World Inexperienced Investing: #REE #Inventory Information for Protection Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF)

September 30, 2023

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#REE #Inventory Information for Protection Metals (TSX-V: $DEFN.V) (OTCQB: $DFMTF) – New Exploration Targets; @defensemetals

Potential to Broaden Wicheeda #REE Deposit Outlined by Protection Metals

Vancouver, British Columbia – September 5, 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 announce {that a} lately accomplished floor radiometric geophysical survey over the Wicheeda Uncommon Earth Component (REE) deposit, situated close to Prince George, Canada, has recognized new anomalies which will symbolize beforehand unknown REE mineralized carbonatite situated largely inside the present mineral useful resource pit shells, as set forth within the 2021 preliminary financial evaluation (PEA).

Learn this information, that includes DEFN in full at https://www.investorideas.com/information/2023/mining/09051DEFN-New-Exploration-Targets.asp

Highlights:

· Based mostly on intensive core drilling and floor geologic mapping accomplished to advance Protection Metals’ ongoing preliminary feasibility examine (PFS), the survey outcomes intently map and additional outline the floor extent of outcropping REE mineralization.

· Two beforehand unknown linear radiometric anomalies had been recognized, every roughly 40 metres in width and lengthening roughly 250 metres northwest from the principle physique of the Wicheeda REE deposit (Determine 1).

· Floor truthing confirmed that the anomalies are overlain completely by surficial cowl which happens at decrease elevations, alongside the western portion of the Wicheeda deposit.

Kristopher Raffle, P.Geo., Director of Protection Metals and a Certified Individual acknowledged:

“We’re excited to have recognized two new exploration targets so near the Wicheeda deposit. The radiometric surveys had been initially designed to help our geologic mapping groups and it got here as a shock after we recognized new anomalies underneath cowl having the same geophysical expression to identified drilled and outcropping uncommon earth mineralization. After reviewing the geophysical information within the context of our up to date Wicheeda 3D geological mannequin we acknowledged the potential for undiscovered near-surface, east-dipping carbonatite our bodies. We look ahead to drill testing these anomalies.”

A number of useful resource definition drill holes undercut the southern half of the japanese anomaly at >150 metre vertical depth beneath floor and preclude a subvertical or steeply east dipping supply. Drill gap WI21-39 intersected comparatively higher-grade carbonatite at depth returning 2.91% whole uncommon earth oxide (TREO) over 45 metres from a depth of 69 metres downhole that’s believed to symbolize the downdip projection of the japanese radiometric anomaly.

Determine 1: 2023 Floor Radiometric Survey Outcomes

Nearly all of the japanese and the whole lot of the western radiometric anomaly stay untested by core drilling. Protection Metals plans to check the western geophysical anomaly throughout fall 2023 as a part of an expanded program of pit geotechnical drilling comprising a deliberate 915 metres in 4 holes (see Determine 1), with further drilling topic to preliminary outcomes.

Particulars of the Radiometric Surveys

The lately accomplished Wicheeda floor radiometric survey comprised a complete of 20 line-km alongside 50 metre spaced, and domestically 25 metre infill, east-west oriented survey traces accomplished over an space of roughly 800 x 900 metres. A NUVIA Dynamics PGIS-2 Gamma-ray spectrometer, geared up with a 0.347 Litre NaI detector and 512-channel decision ADC was used and information was robotically synchronized with GPS, making certain each time and placement accuracy. The spectrometer’s self-stabilizing capabilities on pure radioactive parts similar to Ok, U, and Th eradicated the necessity for frequent recalibration, assuring dependable and correct gamma-ray measurements. On condition that gamma rays are extremely attenuated by overburden (roughly 90% attenuation at 20-30cm overburden depth) floor radiometric surveys are solely prone to detect outcropping or very close to floor sources.

Certified Individual

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

In regards to the Wicheeda REE Property

Protection Metals 100% owned, 6,759-hectare (~16,702-acre) Wicheeda Venture is situated roughly 80 km northeast of town of Prince George, British Columbia; inhabitants 77,000. The Wicheeda REE Venture is instantly accessible by all-weather gravel roads and is close to infrastructure, together with hydropower transmission traces and fuel pipelines. The close by Canadian Nationwide Railway and main highways permit quick access to the deep-water port services at Prince Rupert, the closest main North American port to Asia.

The 2021 Wicheeda REE Venture Preliminary Financial Evaluation technical report outlined an 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 mean of 25,423 tonnes REO yearly over a 16-year mine life. A Part 1 preliminary pit strip ratio of 0.63:1 (waste: mill feed) would yield speedy entry to greater 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 improvement firm centered on the event of its 100% owned Wicheeda Uncommon Earth Component Deposit situated close to Prince George, British Columbia, Canada. Protection Metals Corp. trades on the TSX Enterprise Alternate underneath the image “DEFN”, in america, buying and selling image “DFMTF” on the OTCQB and in Germany on the Frankfurt Alternate underneath “35D”.

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

For additional info, please go to: https://www.defensemetals.com or contact:

Todd Hanas, Bluesky Company Communications Ltd.

Vice President, Investor Relations

Tel: (778) 994 8072

Electronic mail: todd@blueskycorp.ca

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

Cautionary Assertion Concerning “Ahead-Wanting” Data

This information launch incorporates “ahead‐trying info or statements” inside the that means of relevant securities legal guidelines, which can embrace, with out limitation, statements regarding advancing the Wicheeda REE Venture, completion of further geotechnical work together with pit geotechnical core holes and the anticipated timelines, the potential of the anomalies to symbolize beforehand unknown our bodies of REE mineralized carbonatite, the anticipated completion of the PFS, the technical, monetary and enterprise prospects of the Firm, its undertaking and different issues. All statements on this information launch, apart from statements of historic details, 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 primarily based on cheap assumptions, such statements are usually not ensures of future efficiency and precise outcomes might differ materially from these within the forward-looking statements. Such statements and data are primarily based on quite a few assumptions relating to current and future enterprise methods and the setting by 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 companies, future working prices, interpretation of geological, engineering and metallurgical information, the flexibility to attain its targets, that basic enterprise and financial situations is not going to change in a fabric antagonistic method, that financing can be obtainable if and when wanted and on cheap phrases. Such forward-looking info 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 improvement and price estimates, the potential for surprising 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-about cheap by the administration of the Firm, they’re inherently topic to vital enterprise, financial, aggressive and regulatory uncertainties and dangers. Components that would trigger precise outcomes to vary materially from these in ahead trying statements embrace, however are usually not restricted to, continued availability of capital and financing and basic financial, market or enterprise situations, antagonistic climate and local weather situations, failure to take care of or receive all needed 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, price 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 value of uncommon earth parts, the influence of Covid-19 or different viruses and illnesses on the Firm’s capacity to function, an incapacity to foretell and counteract the consequences of COVID-19 and different viruses and illnesses on the enterprise of the Firm, the worth of commodities, capital market situations, restriction on labour and worldwide journey and provide chains, lack of key staff, 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‐trying statements or ahead‐trying info, besides as required by regulation.

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