District Metals Corp.

Company Data | Introduction | Projects in Hand | Management
News Update | Chinese

Company Data

Introduction

District Metals Corp. is led by industry professionals with a track record of success in the mining industry. The Company's mandate is to seek out, explore and develop prospective mineral properties through a disciplined science-based approach to create shareholder value and benefit other stakeholders.

District is a polymetallic exploration and development company focused on the Viken and Tomtebo Properties in Sweden. Sweden is a Top Mining Jurisdiction with a deep-rooted history of metals mining, production, and manufacturing, with strong support from government and communities. Energy security has become an absolute priority for Sweden and other Countries in Europe.

The Viken Property covers 100 per cent of the uranium-vanadium Viken deposit, which is an asset with substantial exploration and development expenditures that resulted in the definition of large historic polymetallic resource estimates in 2010 and 2014. The Viken deposit is amongst the largest deposits by total historic mineral resources of uranium and vanadium in the world.

The advanced-exploration-stage Tomtebo Property is located in the Bergslagen mining district of southern-central Sweden and is situated between the historic Falun mine and Boliden's Garpenberg mine, which are located 25 kilometres to the northwest and southeast, respectively. Two historic polymetallic mines and numerous polymetallic showings are located on the Tomtebo Property along an approximately 17-kilometre trend that exhibits similar geology, structure, alteration and volcanogenic massive sulphide (VMS)/sedimentary exhalative (SedEx) style mineralization as other significant mines within the district.

Projects in Hand

Uranium Polymetallic Properties

Viken Property, Central Sweden

District has consolidated 100% ownership of the Viken Energy Metals Deposit

• Located in Jämtland County about 570 km NW of Stockholm with excellent infrastructure including daily air service, rail and truck freight, and grid power.
• Geological Survey of Sweden carried out work on the Viken Alum Shales from 1978 to1979 that included drilling 19 holes.
• Continental Precious Minerals drilled 133 holes from 2006 to 2008; completed a mineral resource estimate and PEA in 2010, which was further updated in 2014.
• Seeing a positive pro-nuclear stance evolving in Sweden, District consolidated 100% of the Viken Deposit through mineral license application and acquisition in 2023.
• Despite the current moratorium on uranium, mining of the Viken Deposit is still possible under the current Swedish Minerals Act, however recovery of uranium in a mining scenario will not be permitted until the moratorium is lifted.
• Aura Energy's Häggån Deposit located adjacent to the West of Viken.

Portfolio of four more uranium exploration properties:

Sågtjärn, Nianfors, Ardnasvarre, and Tåsjö

Polymetallic Properties (Zn-Pb-Ag-Cu-Au)

Boliden-District Collaboration on Tomtebo-Stollberg Properties

• Boliden and District executed a Definitive Agreement in October 2023 on the Tomtebo and Stollberg Properties.
• Boliden will fund $10.0M of exploration expenditures over four years on District's Tomtebo and Stollberg Properties with District as operator.
• After the earn in period a joint venture will form where Boliden will own 85%, and District will own 15% of both Tomtebo and Stollberg.
• Tomtebo and Stollberg Properties are located 35 km apart along a well-known metallogenic belt in the heart of the prolific Bergslagen Mining District.
• Combination of District's Tomtebo Property with Boliden's Stollberg Property, backed by a combined strong technical team is a very significant development for Sweden.

Tomtebo Property

The advanced exploration-stage Tomtebo property is located in the heart of the prolific Bergslagen mining district of south-central Sweden, and is situated between the historic Falun mine and Boliden's Garpenberg mine that are located 25 km to the northwest and southeast, respectively. Two historic polymetallic mines and numerous polymetallic showings are located on the Tomtebo property along an approximate 17 km trend that exhibits similar geology, structure, alteration and volcanogenic massive sulphide-style/sedimentary exhalative-style mineralization as other significant mines within the district.

• Tomtebo covers an area of 5,144 ha, and is an approximate 2.5 hour drive from Stockholm in Sweden.
• Tomtebo contains similar host rocks, structure, alteration, and mineralization styles as Garpenberg and Falun.
• Mineralization at the historic Tomtebo and Lövås Mines appears to be open in all directions, and Tomtebo has a historic resource.
• The Tomtebo Property has never seen systematic modern exploration.
• The Steffenburgs zone contains significant polymetallic mineralized horizons, which are open in all directions.
• TOM24-042 intersected 29.25 m at 7.4% ZnEq (299.0 to 328.25 m)
• including 19.75 m at 10.0% ZnEq (306.0 to 325.75 m)
• including 13.0 m at 11.8% ZnEq (309.0 to 322.0 m)
• including 2.0 m at 16.1% ZnEq (309.0 to 311.0 m)
• (See news release dated July 29, 2024)

Stollberg Property

• The Stollberg Property covers an area of 5,180 ha and is located 180 km northwest of the capital city of Stockholm in Sweden.
• Boliden's Garpenberg Mine is located 50 km to the east, and the historic Falun Mine is located 50 km to the north. Lundin Mining's Zinkgruvan Mine is located 150 km to the south.
• Boliden has been actively exploring the Stollberg Property since 2000 and has drilled on multiple geological and geophysical targets, including the discovery of Västansjö in 2013.
• The Stollberg Property contains similar host rocks, structure, alteration, and mineralization styles as the Garpenberg Mineralized Trend, which gives significant support in making a similar new discover.
• District commenced drilling at the Stollberg Property in October 2024
• A total of 2,200 m of drilling in five to six holes is planned at the historic Gränsgruvan Mine
• All drill holes will be followed up by Boliden's in-house, state of the art, down-hole, three component electromagnetic (DHEM) survey.
• (See news release dated October 16, 2024)

Investment Highlights

District Metals is Sweden's Energy Metals Company

• Strong Team with Experience in Uranium and Base Metals Discovery and Development
• Focused in Sweden – a Top Mining Jurisdiction
• Assembled Portfolio Focused on Uranium Polymetallic Properties
• 100% ownership of the Viken Deposit, the largest undeveloped uranium deposit in the world. Portfolio of four more uranium exploration properties (Sågtjärn, Nianfors, Ardnasvarre, Tåsjö) in Sweden.
• JV with Boliden to advance exploration on the Tomtebo and Stollberg polymetallic properties; recent drilling returned high-grade intercepts including 30.0 m at 10.9% ZnEq.
• Strong and Supportive Shareholder Base

Management

Management, Directors, and Advisors

Garrett Ainsworth, President and Chief Executive Officer, Director

Mr. Ainsworth is an accomplished professional geologist and mining executive that has been awarded for two significant mineral discoveries and has raised more than $300M in equity and convertible debt throughout his career. Mr. Ainsworth is currently the Chairman of Kraken Energy Corp., and a Technical Advisor of Aero Energy Ltd. and Summa Silver Corp.

Marlis Yassin, Chief Financial Officer & Corporate Secretary

Ms. Yassin has over 15 years experience working with companies in various sectors, including mining, technology, and industrial products.

Hein Raat, Vice President of Exploration

Mr. Raat is a professional geologist (EurGeol) with extensive experience exploring for base and precious metal deposits in Scandinavia and Europe.

Joanna Cameron, Independent Director

Ms. Cameron is a partner at Osler with more than 25 years of experience in corporate and securities law.

Doug Ramshaw, Independent Director

Mr. Ramshaw has spent more than two decades as a senior executive in the resource sector.

Jonathan Challis, Independent Director

Mr. Challis is a mining engineer with over 30 years experience in the operation, management, financing and analysis of mining projects around the world.

Rodney Allen, Technical Advisor

Galen McNamara, Technical Advisor

Rob Chang, Strategic Advisor

Rita Bennett, Strategic Advisor

Sophia Shane, Strategic Advisor

News Update

October 16, 2024, District Commences Drilling at the Stollberg Property in Sweden

https://www.districtmetals.com/news/index.php?content_id=224

September 24, 2024, District Provides Notice to Shareholders Who Seek to Transfer Shares in Preparation for Nasdaq First North Growth Listing

https://www.districtmetals.com/news/index.php?content_id=222

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