Defense Metals Corp. has been invited by Natural Resources Canada to submit a Full Project Proposal seeking up to C$32 million in funding for the Wicheeda Rare Earth Concentrator and Hydrometallurgical Feasibility Program in British Columbia.

The invitation follows an expert committee assessment of the company’s Expression of Interest under Natural Resources Canada's Critical Minerals Research, Development and Demonstration and Global Partnerships Initiative programs. The proposed program covers work required to advance the Wicheeda Project's concentrator, hydrometallurgical, and solvent-extraction processes from pilot-scale demonstration toward feasibility readiness, addressing a strategic gap in Canadian midstream processing capacity.

Defense Metals plans to submit the Full Project Proposal to Natural Resources Canada under the CMRDD and GPI programs. Any financial support remains strictly contingent upon the execution of a formal contribution agreement.

“While this is not a funding commitment by NRCan, our Expression of Interest application has been assessed, and we have been invited to submit a Full Project Proposal. This is an important screening and prioritization step that demonstrates the Government of Canada's potential interest in further supporting the Wicheeda Rare Earth Element Project in British Columbia - contingent upon the execution of a contribution agreement. The Wicheeda Project would directly contribute to the Government of Canada's objective of building critical material value chains in Canada.”

— Mark Tory, President and CEO

Defense Metals previously received a Letter of Interest from Export Development Canada in June 2025 expressing interest in participating as a Mandated Lead Arranger for potential debt financing of up to US$250 million for the Wicheeda Project.

Read the full announcement: Defense Metals Invited by Natural Resources Canada to Submit a Full Project Proposal for its Wicheeda Processing Feasibility Program