Welcome to our dedicated page for Defense Metals news (Ticker: DFMTF), a resource for investors and traders seeking the latest updates and insights on Defense Metals stock.
Defense Metals Corp. (OTCQB: DFMTF; TSXV: DEFN; FSE: 35D) generates a steady flow of news centered on the advancement of its 100%-owned Wicheeda Rare Earth Element Project in British Columbia, Canada. This news page aggregates company announcements, project updates, and financing developments related to Defense Metals’ efforts to develop its rare earth deposit.
Readers can find project study updates, including details on the company’s NI 43-101-compliant Preliminary Feasibility Study and its work toward a Definitive Feasibility Study. Defense Metals’ releases describe metallurgical optimization, engineering studies, and evaluation of locations for a planned hydrometallurgical plant, providing insight into the technical progress of the Wicheeda Project.
The company’s news also covers strategic and financial milestones, such as private placement financings, a Letter of Interest from Export Development Canada for potential project financing, and shares-for-debt settlements with advisory and engineering firms. Announcements about a non-binding memorandum of understanding with a potential strategic partner for a possible supply agreement, as well as discussions with downstream processors, appear here as they are disclosed.
Another recurring theme in Defense Metals’ news is stakeholder engagement. Releases highlight the company’s relationship with the McLeod Lake Indian Band, including a Joint Co-Design Agreement and expressions of support for Wicheeda’s development, along with meetings with Canadian government officials regarding critical minerals policy and permitting.
Investors and observers can use this page to follow Defense Metals’ corporate updates, leadership changes, and ongoing interactions with governments, Indigenous partners, and potential strategic counterparties, all as they relate to the Wicheeda rare earth project.
Defense Metals (OTCQB: DFMTF) announced the appointment of Robin Jones as Vice President, Projects effective Jan 21, 2026. Mr. Jones is a professional mechanical engineer with 30+ years of international experience in feasibility studies, detailed engineering, construction, commissioning and operational readiness across commodities including rare earth elements (REE), uranium, copper, nickel and platinum group metals.
He previously led definitive feasibility studies and a heavy REE pilot plant delivery at Northern Minerals and will support advancing the Wicheeda Project through next-stage engineering and development.
Defense Metals (OTCQB: DFMTF) reported 2025 milestones for the Wicheeda Rare Earth Project near Prince George, BC, including completion of a Pre-Feasibility Study (PFS) and preparatory work toward a Definitive Feasibility Study (DFS) targeted to begin in early 2026. The company closed multiple private placements, including an oversubscribed C$16.2 million financing, and noted meaningful insider participation with the Executive Chairman increasing ownership via open-market purchases. Engagement with Indigenous partners continued, and the company received a Letter of Interest from Export Development Canada for potential financing of up to US$250 million, subject to customary conditions.
Defense Metals (OTCQB: DFMTF) acknowledged continued support from the Government of Canada and endorsement from the McLeod Lake Indian Band after meetings in Ottawa during the week of Nov 20, 2025.
The company said the federal government confirmed backing for Defense Metals to continue executing its permitting and development strategy for the Wicheeda Rare Earth Project near Prince George, BC. McLeod Lake Indian Band leadership expressed support and highlighted potential economic opportunities while emphasizing stewardship and Indigenous-led partnership.
The release links the Wicheeda Project to strengthening Canada’s domestic rare earth supply for electric vehicles, renewable energy, advanced manufacturing, and national security technologies.
Defense Metals (DFMTF) appointed Ali Mahdavi as Senior Vice President, Corporate Development to lead investor engagement and corporate opportunities for the Wicheeda critical minerals project.
Mr. Mahdavi brings over 30 years of rare earth capital markets experience, founded Spinnaker Capital Markets, and previously served over 20 years as SVP at Neo Performance Materials. The company noted a strong Preliminary Feasibility Study and ongoing development progress at Wicheeda.
The company also granted 2,675,000 incentive stock options to directors, officers and consultants, exercisable at C$0.30 for five years, subject to TSXV approval and vesting provisions.
Defense Metals (OTCQB: DFMTF) provided a business update on Oct 6, 2025 outlining progress since its May 2025 private placement and PFS release for the Wicheeda rare earth project.
Key points: PFS-compliant proven mineral reserves position Wicheeda as the most advanced undeveloped REE project in North America/Europe; the company plans to start a Definitive Feasibility Study in H1 2026 and is performing metallurgical optimization and site-selection work for a hydro-metallurgical plant; ongoing indigenous engagement with McLeod Lake Indian Band continues under a 2024 Joint Co-Design Agreement.
Financing and partnerships: an MoU for a significant supply agreement is in place; Export Development Canada issued a Letter of Interest for up to US$250 million as Mandated Lead Arranger; the company reports it is debt free with positive working capital. Corporate: AGM held Sept 24, 2025 elected Maryanne Crichton and approved a 10% rolling omnibus plan.
Defense Metals (OTCQB:DFMTF) has entered into a shares-for-debt settlement agreement with HCF International Advisers Limited to resolve outstanding debt for financial advisory services. The company will issue 988,750 common shares at $0.16 per share and 494,375 warrants to settle $158,200 in payables.
Each warrant allows HCF to purchase one additional common share at $0.21 per share within 36 months of issuance. The Settlement Shares and Warrants will have a six-month hold period. The transaction requires final TSX Venture Exchange approval.
Defense Metals (OTCQB: DFMTF) has entered into a shares-for-debt settlement agreement with Hatch Ltd. to settle $846,547.31 in outstanding payables through the issuance of 5,290,920 common shares at $0.16 per share. Additionally, the company will issue 2,645,460 warrants at $0.21 per share, exercisable for 36 months.
The agreement includes a six-month hold period for the shares and warrants. Defense Metals has also indicated its intention to engage Hatch for engineering services for the full feasibility study of its Wicheeda Rare Earth Element Project in British Columbia, subject to agreeable commercial terms.
Defense Metals has announced a significant development in its rare earth elements project by signing a non-binding memorandum of understanding (MOU) with a major potential strategic partner on April 25, 2025. The agreement focuses on entering into a supply arrangement that would represent a substantial portion of the company's planned production output.
Key highlights:
- The MOU follows the company's recently published detailed pre-feasibility study for the Wicheeda project
- The development signals growing industry confidence in Wicheeda as a strategically important rare earth elements source
- Company President and CEO Mark Tory views this as a major step forward, while acknowledging more work lies ahead
Trading under symbols TSXV: DEFN, OTCQB: DFMTF, and FSE: 35D, Defense Metals is positioning itself as a potential key player in the rare earth elements market. This strategic partnership opportunity demonstrates market validation for the Wicheeda project's potential, though the company emphasizes that significant development work remains to bring the project to fruition.
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