District Metals Corp. - District Files NI 43-101 Technical Report for the Viken Deposit Mineral Resource Estimate in Sweden

Published: 2025-06-16 10:43:47 ET DMX.V

Published on 06/16/2025 at 10:43

Vancouver, British Columbia - District Metals Corp. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQB: DMXCF) (FSE: DFPP); ('District' or the 'Company') reports that it has filed the independent NI 43-101 Technical Report for its 100%-owned Viken Energy Metals Property in Jamtland County, Sweden, related to the updated Mineral Resource Estimate ('MRE') for the Property announced on April 29, 2025.

The Technical Report titled 'Updated Mineral Resource Estimate and Technical Report on the Viken Energy Metals Project, Jamtland County, Sweden' (the 'Technical Report') was prepared by P&E Mining Consultants Inc. ('P&E') in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ('NI 43-101') and has an effective date of April 25, 2025.

About District Metals Corp.

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. The Viken Property covers 100% of the Viken Energy Metals Deposit, which 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.

The advanced exploration stage Tomtebo Property is located in the Bergslagen Mining District of south-central Sweden and is situated between the historical 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 VMS/SedEx style mineralization as other significant mines within the district.

Contact:

Garrett Ainsworth

Tel: (604) 288-4430

Cautionary Statement Regarding 'Forward-Looking Information'

This news release contains certain statements that may be considered 'forward-looking information' with respect to the Company within the meaning of applicable securities laws. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'targets', 'expects' or 'does not expect', 'is expected', 'an opportunity exists', 'is positioned', 'estimates', 'intends', 'assumes', 'anticipates' or 'does not anticipate' or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might', 'will' or 'will be taken', 'occur' or 'be achieved' and any similar expressions.

In addition, any statements that refer to expectations, predictions, indications, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates and projections regarding future events. Forward-looking information in this news release relating to the Company include, among other things, statements relating to the Viken Deposit; results of the Viken Deposit MRE and size thereof; realization of MRE; future price of metals; potential increases to the Viken Deposit MRE; future economic studies and timing thereof; potential lifting of the current ban on uranium mining in Sweden; the results of exploration and drilling and interpretations thereof, and future exploration; the benefits of mining Sweden; the Company's Swedish polymetallic properties; the Company's planned exploration activities, including its drill target strategy and next steps for the Swedish properties and the Company's interpretations and expectations about the results on the Swedish properties.