District Metals - DMXCF STOCK NEWS

District Metals Corp. (DMXCF) and Boliden Minerals have approved a CDN$3.0M exploration budget for the Tomtebo and Stollberg Properties in 2025, marking a 50% increase from 2024. The budget will be equally divided between both properties.

The company has initiated core drilling at the Tomtebo Property, with plans to drill 1,500 to 2,000m across three to four holes in the historic Tomtebo Mine area. The drilling program will explore the Steffenburgs zone, following up on previous successful results that showed 29.25m at 0.95% Cu, 0.67 g/t Au, 1.6% Zn, 0.8% Pb and 30 g/t Ag.

Additional drilling is planned for the Kvistaberget and historic Lövås Mine target areas later in 2025, pending permits. The Lövås Mine, previously worked to a 190m depth, shows potential for base metal polymetallic mineralization along strike and depth.

District Metals Corp. (TSXV: DMX) has engaged P&E Mining Consultants Inc. to prepare an updated National Instrument 43-101 compliant resource estimate for the Viken Energy Metals Deposit in Sweden. The new estimate will focus on multiple metals including vanadium, potash, uranium, molybdenum, nickel, zinc, and copper.

The update will develop a net smelter returns (NSR) cut-off value using recent metal prices and updated costs, revise geological interpretations, and include the latest metallurgical advances for the deposit's Alum Shale host rock. This initiative aims to identify priority areas for converting inferred resources to indicated status and potential resource growth.

The previous resource estimates from 2010 and 2014, completed by P&E for Continental Precious Minerals Inc., are now considered historical estimates under NI 43-101 standards. This update represents a important step toward a potential future Preliminary Economic Assessment of the Viken Deposit.

District Metals Corp. (DMXCF) has completed the acquisition of a 2.0% net smelter returns (NSR) royalty covering four mineral licences (Norra Leden, Norr Viken, Lill Viken, and Storviken) at the Viken Deposit in Sweden. The transaction was completed through the issuance of 500,000 common shares, subject to a 4-month hold period.

This acquisition follows the company's full consolidation of the Viken Energy Metals Deposit in January 2024, resulting in the deposit now being completely free of any NSR royalty. The Viken Deposit, located in Jämtland County, contains Alum Shales rich in critical energy metals including uranium, vanadium, nickel, molybdenum, copper, zinc, and rare earth elements. The deposit also shows potential for sulphate of potash production, which could benefit the agricultural sector in Sweden and Europe.

District Metals Corp. (DMXCF) has received approval for listing on the Nasdaq First North Growth Market, with trading of its depositary receipts (DMX SDRs) set to commence on January 23, 2025, under the symbol 'DMXSE SDB'. The company will maintain its TSX Venture Exchange listing under 'DMX'.

The timing aligns with Sweden's renewed focus on exploration and mining, particularly significant as the company's Viken Deposit is under review by the Geological Survey of Sweden as an area of national interest for its vanadium resources, classified as a critical raw material by the EU. The Swedish Government recently released an inquiry regarding potentially lifting the uranium ban.

District has also executed a definitive agreement to acquire the 2% NSR royalty on the Viken Deposit, which upon closing will make the deposit entirely royalty-free. The Nasdaq First North listing aims to expand the company's European presence, enhance trading volume, and improve visibility to European investors.

District Metals Corp. (TSXV: DMX) (OTCQB: DMXCF) announces the approval of its application by Nasdaq Stockholm AB for trading its depositary receipts (DMX SDRs) on the Nasdaq First North Growth Market. The Company has published a Company Description as per Nasdaq First North rules, with trading preliminarily scheduled to begin on January 23, 2025.

The Company Description, which has been approved by Nasdaq Stockholm AB, includes information about District's business, market presence, financial overview, risk factors, and corporate governance details. It is not a prospectus and does not contain any offering of shares or financial instruments.

Following the Nasdaq First North listing, District will no longer qualify as a 'venture issuer' under Canadian securities laws. The Company has applied for exemptive relief to maintain this status, though approval remains pending with Canadian securities regulatory authorities.

District Metals Corp. (DMXCF) has signed a definitive agreement to acquire a 2.0% net smelter returns (NSR) royalty on its Viken Energy Metals Deposit in Sweden. The purchase price consists of 500,000 common shares of District, subject to TSXV approval and a 4-month hold period.

The Viken Deposit, located 570 km northwest of Stockholm, contains critical energy metals including uranium, vanadium, nickel, molybdenum, copper, zinc, and rare earth elements. The deposit has two historical mineral resource estimates: a 2010 estimate showing Indicated resources of 23,610k tonnes and Inferred resources of 2,830,757k tonnes, and a 2014 estimate indicating 43,000k tonnes in the Indicated category and 3,019,000k tonnes in the Inferred category.

The deposit is hosted in Alum Shales, which have been tectonically thickened from 20-30m to approximately 180m. The area has well-developed infrastructure including air service, rail, truck freight services, electrical power, and modern communications.

District Metals Corp. (DMXCF) announces that the Swedish Ministry of Climate and Enterprise has released the results of an inquiry into lifting the uranium mining moratorium. The government intends to remove the 2018 ban on uranium mining and restore previous legislation. Key outcomes include: uranium will be regulated as a concession mineral, and mining will be permitted in Sweden.

The next steps involve a written consultation until March 20, 2025, followed by a legislative proposal to Parliament. The changes are proposed to take effect by January 1, 2026. Sweden currently has six operating nuclear reactors providing 29% of the country's electricity, and the government supports expanding nuclear power capacity.

District Metals Corp. (DMXCF) has received conditional approval to list its Swedish depository receipts (DMX SDRs) on the Nasdaq First North Growth Market. The listing is subject to standard conditions, including publishing a company description, meeting distribution requirements, and website updates. The SDRs will trade under symbol 'DMXSE' while maintaining the current ISIN.

The company is seeking exemptive relief from Canadian authorities to maintain its 'venture issuer' status despite the Nasdaq First North listing. District Metals believes this secondary listing will enhance Swedish investor access and strengthen its shareholder base. The company has been active in Sweden since June 2020, focusing on critical raw materials exploration, including the Viken Property, which contains what is reported as the world's second-largest uranium deposit based on historical estimates.

District Metals Corp (TSXV: DMX) (OTCQB: DMXCF) held its annual general and special meeting on December 12, 2024, in Vancouver. Shareholders, representing 9.10% of outstanding shares, voted in favor of all items including the election of directors Garrett Ainsworth, Joanna Cameron, Jonathan Challis, and Doug Ramshaw. The meeting also approved Davidson & Company LLP as auditor and adopted a new Omnibus Incentive Plan.

The Omnibus Plan is a 10% rolling plan allowing the Board to grant stock options, restricted share units, performance share units, and deferred share units. A total of 13,056,587 shares are issuable under this plan, which replaces the previous stock option plan.