VANCOUVER, BC, Nov. 18,
2024 /CNW/ - Defense Metals Corp. ("Defense Metals"
or the "Company") (TSXV: DEFN) (OTCQB: DFMTF) (FSE: 35D) is pleased
to announce the appointment of Mr. Mark
Tory to the position of Chief Executive Officer ("CEO").
Mr. Tory will commence his new role January 1, 2025, and will be relocating to
Vancouver.
Reporting to Defense Metals' Board of Directors, Mr. Tory will
be responsible for leading the development of the world class
Wicheeda Project as the Company advances swiftly towards completing
its Prefeasibility Study ("PFS"), with the results published in Q1
2025.
Mr. Tory is a highly experienced resources executive with
significant rare earths experience having held key leadership roles
at Northern Minerals initially as Chief Financial Officer ("CFO")
and then subsequently CEO while they developed the Browns Range
Rare Earth Project, including the planning, building and operation
of a A$70 million pilot plant. His
previous executive experience includes Managing Director of
Crescent Gold Limited, after a period as CFO and Company Secretary.
He has had international exposure to resources' capital markets as
well as holding key leadership roles in companies that range from
exploration to development through to operating mines across
commodities, including rare earths, battery materials, base metals
and gold.
Mr. Tory is a Chartered Accountant and holds a BBus, MBA and is
a Graduate of the Australian Institute of Company Directors
(GAICD).
Defense Metals' Executive Chair, Mr. de Selliers, said:
"I am extremely excited at having Mark as our
CEO. His career speaks for itself, but what is important to the
Board, and myself in particular, is his integrity, leadership and
knowledge of the rare earths sector. Mark is also a company
builder, which is exactly what we need. Being able to attract
somebody of Mark's calibre, together with the strong interest we
had from several other highly qualified CEO candidates, is another
confirmation of the quality of our Wicheeda Project."
Mr. Tory added:
"I am most enthusiastic at being appointed CEO
of Defense Metals. What immediately attracted me to this
opportunity is the rather unique characteristics of the Wicheeda
deposit which makes it one of the most promising deposits in
North America which includes the
ability to upgrade the inground TREO to an over 50% concentrate
through a relatively simple beneficiation process. I am also very
pleased to be working with an extremely high calibre Board which
shares the same values as I and is determined to build a profitable
and sustainable major project. I look forward to working closely
with the Company's technical teams as they finalise the PFS which
will be published early next year. Joining Defense Metals is a new
and exciting stage in my life and career, and I am truly
delighted."
About Defense Metals Corp. and its Wicheeda Rare Earth
Element Project
Defense Metals Corp. is focused on the development of its 100%
owned, 8,301-hectare (~20,534-acre) Wicheeda REE Project that is
located on the traditional territory of the McLeod Lake Indian Band
in British Columbia, Canada.
The Wicheeda REE Project, approximately 80 kilometres (~50
miles) northeast of the city of Prince
George, is readily accessible by a paved highway and
all-weather gravel roads and is close to infrastructure, including
hydro power transmission lines and gas pipelines. The nearby
Canadian National Railway and major highways allow easy access to
the port facilities at Prince
Rupert, the closest major North American port to
Asia.
For further information, please visit www.defensemetals.com
or contact:
Alex Heath
Senior Vice President, Corporate Development & Interim CFO
Tel: +1 604-354-2491
Email: alex@defensemetals.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Cautionary Statement Regarding "Forward-Looking"
Information
This news release contains "forward‐looking information or
statements" within the meaning of applicable securities laws, which
may include, without limitation, any statements (expressed or
implied) relating to: advancing the Wicheeda Project, the use of
net proceeds from the Private Placement, final TSXV approval of the
Private Placement, the technical, financial and business prospects
of the Company, its project and other matters. Forward-looking
statements are typically identified by words such as "plan,"
"believe," "expect," "anticipate," "intend," "outlook," "estimate,"
"forecast," "project," "continue," "could," "may," "might,"
"possible," "potential," "predict," "should," "would" and other
similar words and expressions, but the absence of these words does
not mean that a statement is not forward-looking. All statements in
this news release, other than statements of historical facts, that
address events, contribution or developments that the Company
expects to occur, are forward-looking statements. Although
the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those in the forward-looking
statements. Such statements and information are based on numerous
assumptions regarding present and future business strategies and
the environment in which the Company will operate in the future,
including the price of rare earth elements, the anticipated costs
and expenditures, the ability to achieve its goals, that general
business and economic conditions will not change in a material
adverse manner, that financing will be available if and when needed
and on reasonable terms. Such forward-looking information reflects
the Company's views with respect to future events and is subject to
risks, uncertainties and assumptions, including the risks and
uncertainties relating to the interpretation of exploration and
metallurgical results, risks related to the inherent uncertainty of
exploration and development and cost estimates, the potential for
unexpected costs and expenses and those other risks filed under the
Company's profile on SEDAR+ (www.sedarplus.ca). While such
estimates and assumptions are considered reasonable by the
management of the Company, they are inherently subject to
significant business, economic, competitive and regulatory
uncertainties and risks. Factors that could cause actual results to
differ materially from those in forward looking statements include,
but are not limited to, continued availability of capital and
financing and general economic, market or business conditions,
adverse weather and climate conditions, failure to maintain or
obtain all necessary government permits, approvals and
authorizations, failure to maintain or obtain community acceptance
(including First Nations), risks relating to unanticipated
operational difficulties (including failure of equipment or
processes to operate in accordance with specifications or
expectations, cost escalation, unavailability of personnel,
materials and equipment, government action or delays in the receipt
of government approvals, industrial disturbances or other job
action, and unanticipated events related to health, safety and
environmental matters), risks relating to inaccurate geological,
metallurgical, engineering and pricing assumptions, decrease in the
price of rare earth elements, the impact of viruses and diseases on
the Company's ability to operate, restriction on labour and
international travel and supply chains, loss of key employees,
consultants, officers or directors, increase in costs, delayed
results, litigation, and failure of counterparties to perform their
contractual obligations. The Company does not undertake to update
forward–looking statements or forward–looking information, except
as required by law.
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SOURCE Defense Metals Corp.