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

On October 29, 2025, District Metals Corp. has released positive results from the airborne mobile magnetotelluric (MobileMT) survey conducted over its 100-per-cent-owned Osterkalen mineral licence, located in Jamtland county, north-central Sweden.

On the basis of these encouraging results, the company has filed an application for a new mineral licence adjacent to the northwest of the Osterkalen No. 101 mineral licence that covers the extension of the MobileMT anomaly.

The Osterkalen, Tasjo and Malgomaj licences together form the company's Alum shale properties, collectively covering approximately 79,250 hectares. All three licence areas were surveyed using MobileMT during the summer of 2025. The survey produced extensive data sets and identified numerous geophysical anomalies, the findings of which will be presented across three separate news releases -- beginning with this one.

The company's Osterkalen mineral licence is approximately 100 kilometres northeast from the company's 100-per-cent-owned Viken property, which hosts the Viken energy metals deposit. Highlights:

• MobileMT results have identified an eight-kilometre-long-by-up-to-3.5-kilometre-wide low-resistivity (highly conductive) anomaly that is interpreted to be Alum shale.
• The high-resolution MobileMT survey results, covering approximately 7,800 hectares at the Osterkalen No. 101 mineral licence, have successfully outlined a strong and laterally extensive low-resistivity (highly conductive) anomaly consistent with the MobileMT signature observed at the company's Viken deposit as reported in District's news release of Sept. 24, 2025.

Garrett Ainsworth, chief executive officer of District, commented: "The MobileMT survey results from our Osterkalen property are highly encouraging and reveal a strong and large conductive anomaly that aligns with the interpreted Alum shale horizon. This supports our geological model and corporate strategy and highlights the significant potential to host Alum shale with important and critical raw materials.

"With these results, we are not only confirming the presence of a potentially high-tonnage Alum shale target but also advancing toward our goal of building a uranium polymetallic portfolio of district-scale assets in Sweden capable of delivering meaningful value to our shareholders and stakeholders. The combination of a large, coherent geophysical anomaly, strong geological support and proximity to infrastructure ranks Osterkalen as one of our most compelling growth opportunities to date outside of our Viken property."

On October 15, 2025, MWH Geo-Surveys International Inc. has completed a detailed unmanned aerial vehicle (UAV) radiometric and magnetic survey at the company's 100-per-cent-owned Ardnasvarre property located in Norrbottens county in northern Sweden.

The UAV survey at the Ardnasvarre property has successfully identified strong and large uraniferous radiometric anomalies associated with uranium boulder trains sourced from the Viepsajokk and Labbas uranium polymetallic occurrences.

The Labbas uranium polymetallic occurrence is a basement-hosted and intrusive-related uranium polymetallic mineralized zone that is associated with a local magnetic-low response that extends beyond historical drilling, which may indicate potential for significant expansion from this previously delineated uranium polymetallic mineralization. Historic drill results from the Labbas uranium zone include 7.0 metres at 0.17 per cent U3O8 (triuranium octoxide) from 50.0 to 57.0 metres, including a higher-grade interval of 0.8 m at 0.94 per cent U3O8 from 53.5 to 54.3 m. The drill results can be found in the Geological Survey of Sweden (SGU) database. Drill results have been converted from U to U308 (U308 is equal to U multiplied by 1.1792).

The Viepsajokk uranium occurrence comprises 79 uranium-mineralized conglomerate and breccia boulders that are sourced from the base of the late Precambrian Laisvall sedimentary formation, which unconformably lies above the Precambrian crystalline basement rocks. This unconformity-style uranium mineralization on the Ardnasvarre property is similar to unconformity-style uranium mineralization found in the Athabasca basin in Northern Saskatchewan, Canada, which is known for high grades of uranium. According to the Geological Survey of Sweden in 1984 the Viepsajokk uranium occurrence was regarded as one of the most promising unconformity-style uranium target areas, but the 16 proposed holes were never drilled.

Garrett Ainsworth, chief executive officer of District, commented: "The UAV radiometric survey results from our Ardnasvarre property have revealed two significant uraniferous boulder trains that appear to be sourced from the Labbas and Viepsajokk uranium polymetallic occurrences. A boulder train is a line or trail of mineralized boulders that have been moved from their original bedrock mineralized source by glaciers during the ice age. The direction of these past glaciers on the Ardnasvarre property is from north-northwest to south-southeast, which pinpoints the bedrock mineralized source area at the north-northwest side of the boulder train.

"The UAV magnetic survey results at the Labbas uranium occurrence indicates a magnetic-low trough along the shoulder of a magnetic high where past drilling defined a historical resource estimate for uranium at the north-northwest end of a significant uraniferous boulder train. These recent magnetic results suggest that an extensive strike length remains untested by previous drilling at the Labbas occurrence. The Viepsajokk occurrence has never been drilled, and the potential bedrock mineralized source is also situated in a magnetic-low trough along the shoulder of a magnetic high while also being at the north-northwest end of a significant uraniferous boulder train.

"We are excited by these UAV results and look forward to advancing our exploration efforts in this highly prospective region of northern Sweden."

On September 25, 2025, District Metals Corp. announced positive results from mineral exploration activities completed over the past four month. These activities included positive results from its airborne Mobile Magnetotelluric ("MobileMT") survey at the Viken Property, announced on September 24, 2025, which will be used to prioritize target areas outside of the 2025 Viken Deposit mineral resource estimate. Further, the Company announced Unmanned Aerial Vehicle ("UAV") radiometric and magnetic survey results completed at the Sågtjärn and the Nianfors Properties, resulting in the Company submitting mineral license applications to expand the license areas.

On August 25, 2025, the Company announced that Boliden Mineral AB had provided the Company with notice to terminate the earn-in and joint venture agreement on the Tomtebo and Stollberg base metal polymetallic properties located in the Bergslagen Mining District of south-central Sweden with District's Swedish subsidiary, District Metals AB. Highlights:

• The Company had $9.740 million in cash and cash equivalents at June 30, 2025, including $0.221 million advanced from Boliden Mineral AB not available for general use.
• On June 3, 2025, the Company entered into a definitive agreement to sell Sherpa II its remaining 24.48% interest in the Bakar Property for 1,500,000 common shares of Sherpa II. Closing of the transaction remains subject to closing conditions, including approval by the Exchange.

On September 24, 2-25, District Metals Corp. has released positive results from its airborne mobile magnetotelluric (MobileMT) survey at the 100-per-cent-owned Viken energy metals property located in Jamtland county, central Sweden.

The high-resolution MobileMT survey conducted by Expert Geophysics Ltd. successfully identified large-scale low-resistivity (highly conductive) anomalies that correlate with the Viken energy metals deposit, as confirmed by historic drill holes from 2006 to 2012. The MobileMT survey has also uncovered several additional large-scale low-resistivity anomalies located outside of the Viken deposit (target areas A to I), highlighting new high-priority targets for follow-up exploration. Target areas A, B and C have a larger and stronger low-resistivity response compared with the Viken deposit.

The Viken deposit contains the largest undeveloped mineral resource estimate of uranium in the world, along with significant mineral resource estimates of vanadium, molybdenum, nickel, copper, zinc, and other important and critical raw materials, as reported in District's news release from April 29, 2025.

On September 09, 2025, MWH Geo-Surveys International Inc. has completed a detailed unmanned aerial vehicle (UAV) radiometric and magnetic survey at District Metals Corp.'s 100-per-cent-owned Nianfors property, located in Gavleborgs county, Sweden.

The UAV survey at the Nianfors property has successfully confirmed known uranium/molybdenum/rare earth element (REE) polymetallic occurrences whilst also identifying new target areas. At the Majsaberget uranium polymetallic occurrence, located within mineral licence Nianfors No. 102, a total of 889 uraniferous boulders have been historically documented, with assay results ranging from 0.01 per cent to 1.4 per cent U3O8 (triuranium octoxide), 0.05 per cent to 0.22 per cent molybdenum and 0.08 per cent to 0.69 per cent yttrium. As expected, this area produced a strong uraniferous radiometric response during the UAV survey.

Notably, a high intensity uraniferous radiometric anomaly was detected along the eastern boundary of Nianfors No. 102. This led to the discovery of a new uranium-rich area with a radiometric value approximately 50 per cent stronger than that of the Majsaberget occurrence. As a result of this significant find, a new mineral licence application, Nianfors No. 103, was submitted to cover the newly identified target area, located approximately 1.9 kilometres northeast of the Majsaberget occurrence.

Garrett Ainsworth, chief executive officer of District, commented: "The results from the UAV survey at our Nianfors property have exceeded our expectations by not only validating known high-grade uranium polymetallic occurrences but also uncovering a significant new target with even stronger uraniferous radiometric responses. This expansion of our land position at Nianfors underscores our commitment to aggressively explore and unlock the full potential of this underexplored region in Sweden."

On September 03, 2025, MWH Geo-Surveys International Inc. has completed a detailed unmanned aerial vehicle (UAV) radiometric and magnetic survey at the Sagtjarn property, located in the Jamtland and Vasternorrland counties, Sweden.

The UAV survey at the Sagtjarn property has successfully confirmed known uranium/molybdenum/rare earth element (REE) polymetallic occurrences whilst also identifying new target areas. Coincident uraniferous radiometric- and magnetic-high anomalies along the southern boundary of mineral licence Sagtjarn No. 102 prompted mineral licence application Sagtjarn No. 103, which encompasses these now-closed-off anomalies.

Garrett Ainsworth, chief executive officer of District, commented: "The results from our first-ever UAV-based detailed radiometric and magnetic survey in Sweden are truly compelling. Known uranium polymetallic occurrences, such as the Sagtjarn deposit and associated uraniferous boulder field, stand out prominently and suggest the potential for extensions beyond the currently recognized mineralized zones. Additionally, the survey has revealed several new target areas in regions that were previously underexplored or obscured by glacial till, based on coincident uraniferous radiometric and distinctive magnetic anomalies.

"At the Sagtjarn property, the radiometric data has pinpointed uranium-enriched zones warranting follow-up ground-based exploration, including prospecting, geological mapping and sampling. The property hosts uranium polymetallic mineralization within bedrock that correlates with moderate to high magnetic responses.

"Further fieldwork will be essential to evaluate the significance of the numerous discrete magnetic anomalies accompanied by uraniferous radiometric boulder trains -- features that are clearly defined in the detailed UAV survey data."

On September 02, 2025, At a media briefing held by the Swedish Minister for Environment and Climate, Romina Pourmokhtari, on Aug. 28, 2025, it was announced that the Swedish government intends to submit a legislative proposal to Parliament to remove the current ban on uranium mining in Q4 2025. If approved, the new legislation permitting uranium mining and exploration will come into effect on Jan. 1, 2026.

The proposed changes will allow the extraction and exploration of uranium under the Swedish Minerals Act. As proposed, the amendments would also allow applications for exploration permits and processing concessions for uranium under specific conditions.

This announcement follows a government inquiry into abolishing the existing ban on uranium mining, which concluded in December, 2024, that the ban should be removed and a subsequent submission to the Council on Legislation in June, 2025, requested that uranium be permitted to be exploited like other natural resources regulated under the Minerals Act (please refer to the company's earlier news releases dated Dec. 23, 2024, and June 16, 2025). This significant policy shift marks a crucial step toward exploring new energy solutions and securing Sweden's energy future.

Garrett Ainsworth, chief executive officer of District Metals Corp., commented: "We are pleased to see that the Swedish government is moving forward with the removal of the uranium ban. It is obvious that the Swedish government's ambition is to create a regulatory framework where uranium is treated in the same fashion as other metals and minerals and with the same permitting requirements. If approved, the lifting of the uranium ban will create long-term clarity for us and increase our ability to attract investors, a necessity to continue to develop our uranium polymetallic projects going forward."

On August 25, 2025, District Metals Corp. has received notice from Boliden Mineral AB of its decision to terminate the earn-in and joint venture agreement on the Tomtebo and Stollberg base metal polymetallic properties located in the Bergslagen mining district of south-central Sweden with District's Swedish subsidiary (District Metals AB).

The option agreement, originally signed in October, 2023, granted Boliden the right to earn up to an 85-per-cent interest in the Tomtebo property by incurring exploration expenditures of up to $10-million over a four-year period. Under the option agreement District had the right to earn up to a 15-per-cent interest in the Stollberg property. Boliden's withdrawal from the option agreement will see District retain a 100-per-cent interest in the Tomtebo property and Boliden will retain a 100-per-cent interest in the Stollberg property.

As per the terms of the option agreement, Boliden will leave the Tomtebo property in good standing until the end of the 90-day termination notice period and will fulfill all contractual obligations as defined by the option agreement provisions.

Garrett Ainsworth, chief executive officer of District, commented: "While we are disappointed that Boliden has elected to withdraw from the collaboration on the Tomtebo and Stollberg base metal polymetallic properties, we have appreciated our positive partnership with Boliden and the technical progress made on the projects.

"We remain highly encouraged by the exploration results at our now 100-per-cent-owned Tomtebo property. The technical work completed has significantly advanced our understanding of the volcanic massive sulphide mineralized systems and reinforces our confidence in the potential for expanding upon and discovering new high-grade base metal polymetallic mineralization at Tomtebo."

On July 29, 2025, District Metals Corp. has released drill assay results for five drill holes (extension TOM-22-038, TOM-25-044, TOM-25-045, KVI-25-001 and KVI-25-002) completed during the drill program from February to April, 2025, at the base metal polymetallic Tomtebo property, located in the Bergslagen mining district in south-central Sweden.

A total of 2,485 metres were drilled in five holes at the Steffenburgs zone within the historic Tomtebo mine area and at Kvistaberget, which is a prospective target located five kilometres northeast of the historic Tomtebo mine area within the Tomtebo property. This drill program was carried out from early February to late April, 2025, as part of the collaboration with Boliden Mineral AB.

The main objective of this drilling phase was to systematically test the broader Steffenburgs zone and its prospective polymetallic mineralized horizon with aggressive stepouts of 150 m at depth in order to identify high-grade sea-floor massive sulphide lenses in several directions. The Kvistaberget target was identified by a SkyTEM geophysical conductive anomaly associated with historic sulphide workings where rock sampling returned strong grades of copper and zinc.

Garrett Ainsworth, chief executive officer of District, commented: "These latest drill results from the Tomtebo property, particularly the intersection of 7.85 metres at 88 g/t silver, 3.0 per cent zinc and 1.9 per cent lead in hole TOM-25-045, show that extensive polymetallic mineralization at the Steffenburgs zone continues at depth with aggressive stepouts that remain open. These grades and thicknesses of base metal polymetallic mineralization encountered at the Steffenburgs zone are consistent with the presence of VMS mineralized systems, which are characteristic of the prolific Bergslagen mining district.

"Importantly, the integration of downhole EM surveys has revealed multiple off-hole conductors, providing us with highly compelling targets for follow-up drilling. These findings validate our geological model and exploration strategy.

"In September, 2025, we aim to commence drilling at the historic Lovas mine, located at the northeast end of the Tomtebo property. The Lovas mine shows substantial base metal polymetallic mineralization that is wide open below the mine workings at a depth of 190 m, and the most recent drilling at the Lovas mine was in the 1950s."

On July 22, 2025, MWH Geo-Surveys International Inc. has been retained to conduct a detailed unmanned aerial vehicle (UAV) radiometric and magnetic survey at the Ardnasvarre, Sagtjarn and Nianfors properties, located in Norrbottens, Jamtland, Vasternorrland and Gavleborgs counties, Sweden.

Garrett Ainsworth, chief executive officer of District, commented: "Much of the Ardnasvarre, Sagtjarn and Nianfors properties are covered by a thin veneer of glacial overburden, which has never seen a detailed radiometric or magnetic survey. The UAV will fly relatively low to the ground with a tight line spacing of 25 or 50 metres that will give us very detailed data, allowing us to see subtle radiometric and magnetic anomalies.

"The radiometric data from this survey will help identify uranium-rich areas for further exploration on the ground that could include prospecting, mapping and sampling. The Ardnasvarre, Sagtjarn and Nianfors properties all contain uranium mineralized zones in bedrock that are associated with magnetic highs. The detailed magnetic data will reveal the extent of known uranium zones and potentially identify new targets.

"The optimal target generated from this UAV survey will be a magnetic high anomaly with an associated uraniferous radiometric boulder train that trends towards the south to southeast, which was the dominant direction of the most recent glaciation."

On June 27, 2025, District Metals Corp. has amended certain change of control provisions for the CEO (chief executive officer) and CFO (chief financial officer) of the company, equity incentive grants, and proceeds received on the exercise of warrants.

Effective June 27, 2025, the company approved certain amendments to change of control or termination benefits within Garrett Ainsworth's executive employment agreement and Marlis Yassin's executive consulting agreement. Pursuant to the amendments, if there is a change of control of the company and the executive agreement is terminated by the company within 12 months of the change of control, the company will pay the executive two times annual compensation plus two times the average annual bonus paid, if any, during the last two full years of employment immediately upon such termination, and all incentive securities granted to the executive shall immediately vest and be exercisable in accordance with the District omnibus incentive plan. If the executive is otherwise terminated without cause, the company will pay the executive one times annual compensation plus one times the average annual bonus paid, if any, during the last full year of employment immediately upon such termination, and all incentive securities granted to the executive shall immediately vest and be exercisable in accordance with the District omnibus incentive plan.

The company also announces that it has granted a total of 3.3 million incentive stock options to directors, officers and consultants of the company, 925,000 restricted share units to officers of the company, and 675,000 deferred share units to directors of the company.

On June 24, 2025, District Metals Corp. has completed a helicopter-borne mobile magnetotellurics system (MobileMT) survey at the Viken property, and, now, the MobileMT system has been moved to the Alum shale properties, located in the Jamtland and Vasterbottens counties in northern-central Sweden.

The MobileMT survey initially commenced at the Viken property in on June 3, 2025. Preliminary interpretations indicate that the MobileMT survey has successfully mapped out the mineralized Alum shale host rock of the Viken energy metals deposit, which has validated this geophysical survey for further use at the company's Alum shale properties. The final results and interpretations of the MobileMT survey on the Viken property will likely be released in Q3 2025.

Garrett Ainsworth, chief executive officer of District, commented: "Our preliminary confirmation that MobileMT has effectively mapped out the mineralized Alum shale at the Viken energy metals deposit is a technological breakthrough for exploration of mineralized Alum shale in Sweden. The initial interpretations of the MobileMT results at the Viken deposit clearly show the depth to and thickness of the Alum shale that corroborates with geological data from historical drill holes. In an Alum shale deposit mining scenario, a shallow and thick deposit is important to optimize the strip ratio and deliver the best economic metrics. We will use this recently identified geophysical signature to prioritize drill targets outside of the 2025 Viken deposit mineral resource estimate and on the Alum shale properties."

On June 04, 2025, District Metals Corp. has executed a definitive purchase agreement dated June 3, 2025, for District's high-grade copper-silver Bakar property, located on northern Vancouver Island in British Columbia, with Sherpa II Holdings Corp.

Garrett Ainsworth, chief executive officer of District, commented: "District's focus is clearly on our Swedish uranium and base metal polymetallic properties. The sale and full exit of ownership from the Bakar property on northern Vancouver Island in British Columbia will allow Sherpa II to continue to advance the Bakar property on a 100-per-cent ownership basis. District will benefit from any potential exploration success at the Bakar property through its equity position in Sherpa II."

Transaction highlights: Under the agreement, Sherpa II will acquire District's remaining approximate 25-per-cent interest in the Bakar property by the issuance of 1.5 million shares of Sherpa II. Closing of the transaction remains subject to customary closing conditions, including approval by the TSX Venture Exchange.

On June 03, 2025, District Metals Corp. has retained Expert Geophysics Surveys Inc. (EGS) to conduct a helicopter-borne mobile magnetotellurics system (MobileMT) survey at the Viken property, located in Jamtland county, central Sweden.

The MobileMT survey will comprise between 1,387 line kilometres and 2,346 line kilometres at 200-metre or 400-metre line spacing over the Viken property in two phases. Phase 1 will aim to capture the conductive signature of the mineralized Alum shale host rock that makes up the Viken energy metals deposit. Phase 2 will be flown over the remainder of the 37,211-hectare Viken property with the objective of identifying additional conductive signatures of interest for follow-up by drilling. The optimal target for further follow-up work will comprise the shallowest and thickest parts of mineralized Alum shale. The relatively flat-lying Alum shale contains abundant graphite and sulphides that make it a superconductor, which will hopefully be mapped out in detail by the MobileMT survey.

On June 02, 2025, District Metals Corp. completed the private placement.

Financing type: non-brokered private placement

Gross proceeds: $5,999,999.67

Offering: 22,222,221 common listed shares

Offering price: 27 cents per listed share

On May 29, 2025, District Metals Corp. reported its results for the three and nine months ended March 31, 2025. All amounts are in Canadian dollars, unless otherwise noted.

Financial and Operational Update: The Company completed an updated mineral resource estimate pursuant to National Instrument 43-101 ("NI 43-101") on the Viken Energy Metals Deposit, announced on April 29, 2025.

Preparations are currently underway to conduct mineral exploration activities on District's Swedish uranium polymetallic properties over the next four to six months, and more details will be released as they become available.

Highlights:

• The Company had $4.204 million in cash and cash equivalents at March 31, 2025, including $0.554 million advanced from Boliden Mineral AB not available for general use.
• On May 21, 2025 the Company closed a non-brokered private placement financing under the Listed Issuer Financing Exemption, whereby the Company raised $6 million through an offering of 22,222,221 common shares at $0.27 per share. In connection with the financing, the Company paid a finder's fee of $299,999.

On May 21, 2025, District Metals Corp. has closed its non-brokered private placement financing under the listed issuer financing exemption (as defined below), whereby the company raised $6-million through an offering of 22,222,221 common shares in the capital of the company at 27 cents per share. The shares offered under the offering are not subject to a hold period in accordance with applicable Canadian securities laws.

The company intends to use the net proceeds of the offering to finance exploration activities on the company's projects in Sweden, and for general corporate purposes. The company paid a finder's fee to Pareto Securities AB of $299,999.98 in connection with purchasers introduced by Pareto to the offering. The company also paid certain expenses of Pareto reasonably incurred in connection with the offering.

On May 15, 2025, District Metals Corp. has updated its non-brokered private placement financing under the listed issuer financing exemption (as defined below), whereby the company intends to raise up to $6-million through an offering of up to 22,222,222 common shares in the capital of the company to be priced at 27 cents per share. The shares offered under the offering will not be subject to a hold period in accordance with applicable Canadian securities laws.

The company intends to use the net proceeds of the offering to finance exploration activities on the company's projects in Sweden and for general corporate purposes. The company will pay a finder's fee to Pareto Securities AB in connection with purchasers introduced by Pareto to the offering. Any finders' fees payable will be in accordance with the policies of the TSX Venture Exchange.

The offering is scheduled to close on or about May 21, 2025, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX-V. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 (Prospectus Exemptions), the offering is being made pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 and in reliance on the order.

On May 13, 2025, District Metals Corp. has fully allocated its $5-million non-brokered private placement financing under the listed issuer financing exemption (LIFE) (as defined herein) of 18,518,518 common shares in the capital of the company priced at 27 cents per share. The shares offered under the LIFE offering will not be subject to a hold period, in accordance with applicable Canadian securities laws.

The company's $1-million non-brokered private placement financing through an offering of 3,703,703 shares priced at 27 cents per share is also fully allocated, and the oversubscribed book has closed. The shares offered under the NBPP offering will be subject to a four-month-and-one-day hold period, in accordance with applicable Canadian securities laws.

On April 29, 2025, District Metals Corp. announced a NI 43-101 Inferred and Indicated Mineral Resource Estimate ("MRE") for the Viken Energy Metals Deposit located within District's 100% owned and royalty free Viken Property in central Sweden.

The Inferred Mineral Resource Estimate of 4.3 Billion Tonnes at a Grade of 161 ppm U3O8 Containing 1.5 Billion Pounds U3O8 for the Viken Energy Metals Deposit in Sweden.

Garrett Ainsworth, CEO of District, commented: "With the current NI 43-101 Inferred and Indicated MRE the Viken Energy Metals Deposit is officially the second largest uranium deposit in the world1, and it also contains an immense inventory of important and critical raw materials that will be required for the green energy transition. The stunning growth of the current Viken MRE from the 2006 to 2012 drill data is a testament to the continuity in grade and thickness of the mineralized Alum Shale Formation found across the Viken Deposit.”

The possibility to increase the Inferred MRE at the Viken Deposit is overwhelmingly positive, however, any future economic studies will focus on a comparatively smaller-scale mining operation that will aim to lower capital expenditures, support positive social license, and optimize the economic output metrics. The strategic nature of the Viken Energy Metals Deposit cannot be understated as a Mineral Resource of important and critical raw materials for Sweden, Europe, and rest of the world that seeks to obtain a low to no carbon footprint.

On April 24, 2025, District Metals Corp. has provided an update from the continuing core drilling program at the base metal polymetallic Tomtebo property located in the Bergslagen mining district in south-central Sweden.

A total of 1,712.5 metres in three drill holes have been completed at the Steffenburgs zone within the historic Tomtebo mine area. Drill targeting was designed to systematically test the broader Steffenburgs zone and its prospective polymetallic mineralized horizon (Rhyolite 1 and Rhyolite 3-4 contact) with aggressive stepouts of 150 metres at depth in order to identify high-grade sea floor massive sulphide lenses in several directions (news release on Feb. 10, 2025).

The drill rig has now moved to Kvistaberget, which is an exploration target located five kilometres northeast of the historic Tomtebo mine. A total of 700 metres to 1,000 metres of drilling in two to three holes are planned at Kvistaberget to test a geophysical SkyTEM conductive anomaly associated with historic mineral occurrences where grab rock sampling returned strong grades of copper and zinc. Based on whole-rock geochemistry results, the Kvistaberget target area is located along strike from the volcanic massive sulphide (VMS) horizon (Rhyolite 1 and Rhyolite 3-4 contact) at the historic Tomtebo mine. Kvistaberget has never been previously drill tested.

Garrett Ainsworth, chief executive officer of District, commented: "Deeper drilling at the Steffenburgs zone has revealed that polymetallic sulphide mineralization continues at depth, and importantly, significant in-hole and off-hole borehole electromagnetic (BHEM) conductive anomalies have been identified. We look forward to receiving the drill assay results from Steffenburgs zone in late Q2 2025.

"We are very excited to have the drill rig move to the Kvistaberget target area, which has never been previously drilled. Very positive coincident data at Kvistaberget includes the whole-rock lithogeochemistry, a conductive SkyTEM anomaly, grab rock samples with up to 2 per cent copper and 8.7 per cent zinc (news release on Oct. 28, 2020), and numerous mineral occurrences that have never been followed up on."

On March 26, 2025, District Metals Corp. reported the on drill assay results for five drill holes (GRAGR-151 to -155) completed during the Fall 2024 drill program at the base metal polymetallic Stollberg Property located in the Bergslagen Mining District in south-central Sweden.

A total of 2,438 m was drilled in five holes around the historic Gränsgruvan Mine (operated intermittently from 1943 to 1978) located within the Stollberg Property. This drill program was carried out from mid-October to mid-December 2024 as part of the collaboration with Boliden Mineral AB.

District intersected 11.0 m at 5.8% Zn, 1.1% Pb, 20 g/t Ag on the Stollberg Property.

Garrett Ainsworth, CEO of District, commented: "The Fall 2024 drill program at the Stollberg Property was the first under the current District and Boliden collaboration, and has delivered some good base metal polymetallic drill assay results. More importantly, the joint technical committee has uncovered some geological breakthroughs at the historic Gränsgruvan Mine, which will make follow up drilling very exciting in H2 2025.

Similarities between the Stollberg Property and Boliden's operating Garpenberg Mine suggest exploration potential to make a significant discovery at Stollberg. There are numerous historic drill holes with wide intervals of base metal polymetallic mineralization at the Gränsgruvan Mine, which gives us an advantageous head start."

On March 18, 2025, District Metals Corp.'s previously announced application for exemptive relief from the applicable Canadian securities regulators has been reviewed, and an order granting exemptive relief effective March 14, 2025, has been granted to the company. The decision provides the company with exemptive relief to continue to be a venture issuer for the purposes of Canadian securities laws despite the listing of its depositary receipts on the Nasdaq First North Growth Market.

As a result of the decision and provided that certain conditions set out in the decision are met on a continuing basis, the company will receive relief from the requirements applicable to a reporting issuer that does not satisfy the definition of venture issuer in each of the following instruments: National Instrument 41-101, General Prospectus Requirements; National Instrument 51-102, Continuous Disclosure Obligations; National Instrument 52-107, Acceptable Accounting Principles and Auditing Standards; National Instrument 52-109, Certification of Disclosure in Issuer's Annual and Interim Filings; National Instrument 52-110, Audit Committees; and National Instrument 58-101, Disclosure of Corporate Governance Practices.

On March 11, 2025, District Metals Corp. welcomes investors to watch the company presentation and Q&A at a Capital Markets Day, organized by Analyst Group with Börskollen as the media partner.

The company presentation will be broadcasted live on Direkt Studios' YouTube channel and Börskollen's (www.borskollen.se) website and will be available afterward on Direkt Studios' YouTube channel. No registration is required.

On February 28, 2025, District Metals Corp. reported its results for the three and six months ended December 31, 2024. Highlights:

• In January 2025, the Company acquired the 2% NSR Royalty over the remaining four mineral covering the Viken deposit licences (Norra Leden, Norr Viken, Lill Viken and Storviken) rsulting in the Viken deposit being free of any NSR Royalty.
• The Company's depositary receipts (the "SDRs") began trading on Nasdaq First North Growth Market at market open (Sweden local time) under the symbol "DMXSE SDB" on January 23, 2025. Swedish depositary receipts are financial instruments issued by a Swedish bank representing shares in a non-Swedish company. The exchange ratio on the SDRs to common shares of the Company is 1 for 1. The Company's common shares continue to be traded on the TSX Venture Exchange under the symbol "DMX".
• The Company had $4.017 million in cash and cash equivalents at December 31, 2024.

On February 10, 2025, District Metals Corp. and Boliden Minerals AB have approved an increased exploration budget of $3-million on the Tomtebo and Stollberg properties for 2025. This will be a 50-per-cent increase with regard to the 2024 budget and will be equally split between both properties. District is the operator of the Tomtebo-Stollberg collaboration, and the company has commenced core drilling at the high-grade base metal polymetallic Tomtebo property, located in the Bergslagen mining district in southern-central Sweden. Highlights:

• The approved 2025 exploration budget of $3-million for the Tomtebo and Stollberg properties will cover geological mapping, geochemical sampling, historical drill core review and core drilling.
• The planned core drill program for the historic Tomtebo mine area comprises 1,500 metres to 2,000 metres in three to four drill holes that will be followed up by Boliden's proprietary downhole electromagnetic survey.
• These drill holes will test the broader Steffenburgs zone at the historic Tomtebo mine by stepping out below hole TOM24-042, which returned 29.25 metres at 0.95 per cent copper, 0.67 gram per tonne gold, 1.6 per cent zinc, 0.8 per cent lead and 30 grams per tonne silver (299.0 to 328.25 metres) of footwall stringer-style sulphide mineralization and test the inferred mineralized horizon based on detailed lithogeochemistry work (July 29, 2024, news release).
• Permitting is under way to drill test the Kvistaberget and historic Lovas mine targets areas later in 2025.

Garrett Ainsworth, chief executive officer of District, commented: "We have enhanced our understanding of the high-grade base metal polymetallic mineralized system at the historic Tomtebo mine by applying modern exploration methods. The current drilling phase aims to test some exciting targets we've identified from our previous drilling at the Steffenburgs zone where we have intersected massive sulphide lenses with significant widths of high-grade polymetallic mineralization that remain open in several directions.

"Additionally, we are eager to expand drilling within the Tomtebo property beyond the historic Tomtebo mine, where we will look to test two high-priority target areas. The Kvistaberget target area is underpinned by a SkyTEM conductive anomaly and a linear trend of historic copper sulphide workings that appear to be along strike from the volcanic massive sulphide horizon located at the historic Tomtebo mine. The historic Lovas mine was worked to a depth of 190 metres, where historical drill holes indicate that base metal polymetallic mineralization is open along strike and to depth."

On February 05, 2025, District Metals Corp. has retained P&E Mining Consultants Inc. to prepare a resource estimate and related report pursuant to National Instrument 43-101 on the Viken energy metals deposit, located in Jamtland county, central Sweden.

Continental Precious Minerals Inc. carried out substantial exploration and development work on the Viken deposit from 2008 to 2014. This work resulted in the definition of uranium polymetallic mineral resource estimates in 2010 and 2014 completed by P&E. These estimates are now considered historical estimates for the purposes of National Instrument 43-101.

This updated mineral resource estimate and NI 43-101 report on the Viken energy metals deposit will:

• Provide estimates for all of the metals and minerals of interest from the available drill hole assay data that will include vanadium, potash, uranium, molybdenum, nickel, zinc and copper;
• Develop a net smelter return (NSR) cut-off value using recent metal and mineral prices and updated costs;
• Update the geological interpretation and mineralized mineral resource wire frames to identify priority areas for conversion from inferred to indicated and for potential mineral resource growth;
• Include an update on the most recent metallurgical advances for the Viken deposit's mineralized host Alum Shale.

Garrett Ainsworth, chief executive officer of District, commented: "Updating the Viken deposit's historical mineral resource estimates into a stand-alone current mineral resource estimate is an important first step in further developing the Viken property. From a technical standpoint, this update will be required for any future updated preliminary economic assessment (PEA) on the Viken deposit."

On February 03, 2025, District Metals Corp. has closed its previously announced acquisition of the 2.0-per-cent net smelter return (NSR) royalty over the remaining four mineral licences (Norra Leden, Norr Viken, Lill Viken and Storviken) covering the Viken deposit, located in Jamtland county, central Sweden (see news release dated Jan. 8, 2025). As a result, District's 100-per-cent-owned Viken deposit is now completely free of any NSR royalty.

Pursuant to the definitive royalty purchase agreement, District acquired the 2.0-per-cent NSR royalty from an arm's-length vendor for a purchase price of 500,000 common shares of District. The consideration shares are subject to a hold period of four months and one day from the date of issue.

Garrett Ainsworth, chief executive officer of District, commented: "In January, 2024, District completed the full consolidation of the Viken energy metals deposit and has now closed the acquisition to eliminate all NSR royalties tied to the deposit.

"The Viken deposit is hosted within Alum shales, which are rich in critical and important energy metals crucial for the green energy transition, such as uranium, vanadium, nickel, molybdenum, copper, zinc and rare earth elements. Moreover, the Alum shales hold the potential for significant production of sulphate of potash, a valuable resource that would greatly benefit the agriculture-driven economy of Jamtland county, Sweden, and Europe.

On January 22, 2025, District Metals Corp. has received confirmation that its Nasdaq First North Growth Market listing application has been approved. As a result, District's depositary receipts (the DMX SDRs) will begin trading on Nasdaq First North at market open (Sweden local time) on Jan. 23, 2025, under the symbol DMXSE SDB. Swedish depositary receipts are financial instruments issued by a Swedish bank representing shares in a non-Swedish company. The company's ISIN (international securities identification number) of CA2548481043 remains unchanged. Additionally, the company's common shares will continue to be traded on the TSX Venture Exchange under the symbol DMX.

Garrett Ainsworth, chief executive officer and president, commented: "The timing of our listing on the Nasdaq First North could not be better. A strong focus on the importance of exploration and mining has returned to Sweden, which has been hastened with the uncertainty of supply of critical and important raw materials for Europe. These positive developments are reflected in the fact that our Viken deposit is currently under review by the Geological Survey of Sweden as an area of national interest due to its historical vanadium mineral resource. Vanadium is a critical raw material as defined by the European Union.

"Additionally, on Dec. 20, 2024, the Swedish government released an inquiry regarding the potential lifting of the uranium ban and issued a press release highlighting positive developments in their efforts to lift the ban on uranium mining. We have summarized this update here.

"Finally, we began 2025 with exciting news that a definitive royalty purchase agreement has been executed, allowing District to acquire the 2-per-cent NSR [net smelter return] royalty on the Viken deposit. Subject to closing, this agreement will result in District's fully owned Viken deposit being entirely free of any NSR royalty, and the details can be found [on the company's website]."

On January 08, 2025, District Metals Corp. has entered into a definitive royalty purchase agreement with an arm's-length vendor to acquire the 2.0-per-cent net smelter return (NSR) royalty previously granted by the company over the remaining four mineral licences (Norra Leden, Norr Viken, Lill Viken and Storviken) covering the Viken deposit, located in Jamtland county, central Sweden (see news release dated Jan. 15, 2024). As a result, subject to closing, District's 100-per-cent-owned Viken deposit is now completely free of any NSR royalty.

Pursuant to the purchase agreement, District will acquire the 2.0-per-cent NSR royalty for a purchase price consisting of 500,000 common shares of District. Closing of the purchase agreement remains subject to TSX Venture Exchange approval. The consideration shares will be subject to a hold period of four months and one day from the date of issue.

Garrett Ainsworth, chief executive officer of District, commented: "District consolidated 100 per cent of the Viken energy metals deposit in January, 2024, and we have now executed a definitive agreement to make the Viken deposit free and clear of any and all NSR royalties. Alum Shales are the host rock for the Viken deposit, which contains critical energy metals essential for the green energy transition that include uranium, vanadium, nickel, molybdenum, copper, zinc and rare earth elements. Additionally, Alum Shales present the potential to produce significant amounts of sulphate of potash, which would greatly benefit the agriculturally dominant Jamtland county.

"The timing of this acquisition comes after the Swedish government released their inquiry report on lifting the uranium moratorium and their supporting press release that we commented on here."

On December 23, 2024, District Metals Corp. is commenting on recent events in Sweden. The Swedish Ministry of Climate and Enterprise issued a press release on Dec. 20, 2024, and made public the results of the inquiry into lifting the uranium moratorium that commenced on Feb. 15, 2024. The press release further states that the purpose of the inquiry was to assess and provide proposals necessary to allow for the resumption of uranium extraction in Sweden.

In its press release, the Swedish government notably reiterated an intention to remove the ban on uranium mining that was introduced in 2018, and to restore the legislation as it was before the ban was introduced. Supportive quotes were provided by each of the Liberal, Christian Democrats, Sweden Democrats and Moderate political parties. Readers are encouraged to read the announcement in its entirety.

Garrett Ainsworth, chief executive officer of District, commented: "We are extremely pleased with this official statement from the Swedish government and view it as a significant step toward lifting the current uranium mining moratorium in Sweden. The long-awaited results from the inquiry are highly encouraging and align with our proposed exploration plans to begin work on our Swedish uranium polymetallic properties in 2025. The Swedish government has clearly expressed its intention to remove the ban on uranium mining. District is fully prepared for this proposed transformational change to legislation, supported by our strong portfolio of properties in Sweden."

On December 17, 2024, District Metals Corp. has received conditional approval for the listing of its Swedish depository receipts (SDRs) on the Nasdaq First North Growth Market. Swedish depository receipts are financial instruments issued by a Swedish bank representing shares in a non-Swedish company.

Garrett Ainsworth, chief executive officer and president, commented: "We are excited to have received conditional approval to trade on the Nasdaq First North. This prospective listing is a logical fit for District, given our promising mineral assets in Sweden, including Tomtebo and Viken. The Viken property contains the world's second-largest uranium deposit, according to historical resource estimates, and, further to our news release on Nov. 15, 2024, we continue to believe that the Swedish government intends to lift the uranium moratorium. Additionally, we are progressing the Tomtebo and Stollberg base metal polymetallic projects in partnership with Boliden, a leading mining company in Scandinavia. We look forward to further engaging with the Swedish and European investment community to expand our business."

On December 13, 2024, District Metals Corp. has released the voting results for the company's annual general and special meeting of shareholders held on Dec. 12, 2024, in Vancouver, B.C.

A total of 11,885,478 common shares were voted at the meeting, representing 9.10 per cent of the votes attached to all outstanding common shares. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees.

On November 27, 2024, In connection with its application for a secondary listing of its shares on the Nasdaq First North Growth Market in Sweden, District Metals Corp. has provided a corporate update. The company's objective is to complete the listing and start trading on the Nasdaq First North Growth Market before the end of 2024, as stated in the company's previous news release on Nov. 18, 2024.

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

  Disclaimer

Copyright (c) 2000 - 2025 Chinese Investment Club Inc.
All Right Reserved. Do not duplicate or redistributed in any form.
版權所有, 未經同意, 不得以任何形式轉載或翻印