District Metals : FS and MD&A

Published: 2025-06-10 17:58:05 ET DMX.V

Published on 06/10/2025 at 17:58

Condensed Consolidated Interim Financial Statements For the three and nine months ended March 31, 2025 and 2024 (Expressed in Canadian Dollars - Unaudited)

Under National Instrument 51-102, Part 4, subsection 4.3(3) (a), if an auditor has not performed a review of the interim financial statements, they must be accompanied by a notice indicating that the financial statements have not been reviewed by an auditor.

The accompanying unaudited condensed consolidated interim financial statements of District Metals Corp. (the "Company") have been prepared by and are the responsibility of the Company's management.

The Company's independent auditor has not performed a review of these financial statements in accordance with standards established by the Chartered Professional Accountants of Canada for a review of the interim financial statements by an entity's auditor.

(Expressed in Canadian Dollars - Unaudited)

As at

March 31,

2025

June 30,

2024

ASSETS

Current assets

Cash and cash equivalents (Note 3)

$ 4,204,071

$ 5,861,955

GST and VAT receivable

294,390

254,659

Prepaid expenses

100,341

171,998

Investment (Note 4)

30,000

145,000

4,628,802

6,433,612

Advances and deposits (Note 5)

457,728

23,403

Exploration and evaluation assets (Note 5)

7,786,682

7,548,017

TOTAL ASSETS

$ 12,873,212

$ 14,005,032

LIABILITIES

Current liabilities

Accounts payable and accrued liabilities (Notes 6 and 13)

Advance from Boliden (Note 7)

$ 730,156

$ 269,243

553,632

948,214

TOTAL LIABILITIES

1,283,788

1,217,457

SHAREHOLDERS' EQUITY

Share capital (Note 8)

73,715,175

73,347,633

Subscription receivable (Note 8)

(9,750)

-

Reserves (Note 9)

3,008,751

3,086,801

Accumulated deficit

(65,124,752)

(63,646,859)

TOTAL SHAREHOLDERS' EQUITY

11,589,424

12,787,575

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

$ 12,873,212

$ 14,005,032

Nature of operations and going concern (Note 1) Subsequent events (Note 14)

These condensed consolidated interim financial statements were authorized for issue by the Board of Directors on May 28, 2025. They are signed on behalf of the Board of Directors by:

"Joanna Cameron" "Garrett Ainsworth"

Director CEO and Director

(Expressed in Canadian Dollars - Unaudited)

March 31, 2025

March 31, 2024

March 31, 2025

March 31, 2024

EXPENSES

General and administrative costs

$ 16,913

$ 49,201

$ 235,127

$ 102,616

Marketing and investor relations

70,365

54,988

304,263

101,125

Salaries and consulting fees (Note 13)

200,979

228,125

696,264

682,850

Professional fees

114,418

23,867

274,444

125,611

Property investigation costs

-

17,171

-

24,293

Stock-based compensation (Note 9)

-

807,028

-

841,609

Transfer agent, regulatory and listing fees

45,030

15,615

161,692

40,125

OPERATING EXPENSES

447,705

1,195,995

1,671,790

1,918,229

OTHER EXPENSES (INCOME)

Foreign exchange (gain) loss

(33,258)

42,171

(11,111)

(80,429)

Write-down of exploration and evaluation assets (Note 5)

-

-

1,357

-

Fair value loss (gain) on investment (Note 4)

20,000

5,000

115,000

(55,000)

Interest and dividend income (Note 3)

(32,393)

(46,719)

(144,880)

(100,624)

Other income (Note 5)

(79,381)

(37,086)

(154,263)

(48,633)

NET LOSS AND COMPREHENSIVE LOSS

$ 322,673

$ 1,159,361

$ 1,477,893

$ 1,633,543

Basic and diluted loss per share

$ 0.00

$ 0.01

$ 0.01

$ 0.01

Weighted average number of common shares outstanding

130,792,010

121,440,591

130,552,093

111,847,243

Disclaimer

District Metals Corp. published this content on June 10, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 10, 2025 at 21:57 UTC.