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Defense Metals Evaluating Strategic Alternatives For Wicheeda Rare Earth Project

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Defense Metals (DEFN.V) is "actively" evaluating a range of strategic alternatives to support the development of the Wicheeda rare earth project in British Columbia.

These initiatives may include partnerships, government funding opportunities, offtake arrangements and broader corporate opportunities, the company said.

"We recognize that our share price performance has been disappointing and has not reflected the significant progress the company has made over the past year," said executive chair Guy de Selliers. "Our team remains highly focused on executing our strategy, advancing one of North America's premier rare earth development projects, and pursuing opportunities that would ultimately translate into substantial value for our shareholders."

Defense Metals recently completed its 2026 Spring drill program to support a feasibility study for the project and is also completing a pilot-scale flotation plant test program at SGS Lakefield for Wicheeda.

Wicheeda is the only rare earth project selected by the British Columbia government as one of four priority projects in the province.

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