District Provides Update on the Uranium Moratorium in Sweden
District Metals Corp. highlights recent Swedish Parliament meeting records regarding the uranium moratorium, which directly impacts their 100% owned Viken Energy Metals Deposit in Sweden. During an October 11, 2024 meeting, Environment Minister Romina Pourmokhtari emphasized the government's commitment to nuclear power as a low-emission technology. The minister criticized current legislation that requires treating uranium as waste, stating the government intends to change this approach. She described the current requirement to dispose of uranium while importing it from elsewhere as an unwise use of resources that is harmful to both environment and climate.
District Metals Corp. mette in evidenza i recenti verbali delle riunioni del Parlamento svedese riguardanti il moratoria sull'uranio, che impattano direttamente il loro giacimento di Metalli Energetici Viken, di cui possiedono il 100%. Durante una riunione dell'11 ottobre 2024, il Ministro dell'Ambiente Romina Pourmokhtari ha sottolineato l'impegno del governo per il nucleare come tecnologia a basse emissioni. La ministra ha criticato l'attuale legislazione che richiede di trattare l'uranio come rifiuto, affermando che il governo intende cambiare questo approccio. Ha descritto l'attuale requisito di smaltire l'uranio mentre lo si importa da altrove come un uso imprudente delle risorse, dannoso sia per l'ambiente che per il clima.
District Metals Corp. destaca los recientes registros de reuniones del Parlamento sueco sobre la moratoria del uranio, que impacta directamente su Depósito de Metales Energéticos Viken, que posee al 100%. Durante una reunión el 11 de octubre de 2024, la Ministra de Medio Ambiente Romina Pourmokhtari enfatizó el compromiso del gobierno con la energía nuclear como una tecnología de bajas emisiones. La ministra criticó la legislación actual que requiere tratar el uranio como desecho, afirmando que el gobierno tiene la intención de cambiar este enfoque. Describió el actual requisito de disponer del uranio mientras se importa de otros lugares como un uso imprudente de los recursos que es perjudicial tanto para el medio ambiente como para el clima.
District Metals Corp.는 스웨덴 의회에서 우라늄 모라토리엄에 관한 최근 회의 기록을 강조하며, 이는 그들이 100% 소유하고 있는 스웨덴의 비켄 에너지 메탈 자원에 직접적인 영향을 미칩니다. 2024년 10월 11일 회의에서 로미나 포르목타리 환경부 장관은 저배출 기술로서의 원자력에 대한 정부의 의지를 강조했습니다. 장관은 현재의 법률을 비판했습니다 우라늄을 폐기물로 간주해야 한다고 요구하며, 정부가 이 접근을 바꿀 의도를 가지고 있다고 말했습니다. 그녀는 우라늄을 수입하는 동안 이를 처분해야 하는 현재 요구사항을 자원의 불합리한 사용으로 설명하며, 이는 환경과 기후에 해롭다고 말했습니다.
District Metals Corp. met en lumière les récents relevés des réunions du Parlement suédois concernant le moratoire sur l’uranium, qui impacte directement leur dépôt de Métaux Énergétiques Viken, dont ils détiennent 100%. Lors d'une réunion le 11 octobre 2024, la ministre de l’Environnement Romina Pourmokhtari a souligné l'engagement du gouvernement envers l'énergie nucléaire en tant que technologie à faibles émissions. La ministre a critiqué la législation actuelle qui exige de traiter l’uranium comme déchet, affirmant que le gouvernement a l'intention de changer cette approche. Elle a décrit l'actuel exigence d'éliminer l'uranium tout en l'importante d'ailleurs comme une utilisation peu judicieuse des ressources, nuisible à la fois à l'environnement et au climat.
District Metals Corp. hebt die jüngsten Protokolle der Sitzungen des schwedischen Parlaments zum Uranmoratorium hervor, das direkte Auswirkungen auf ihr 100 % im Besitz befindliches Viken Energy Metals Depot in Schweden hat. Während einer Sitzung am 11. Oktober 2024 betonte Umweltministerin Romina Pourmokhtari das Engagement der Regierung für die Kernenergie als eine Technologie mit niedrigen Emissionen. Die Ministerin kritisierte die aktuelle Gesetzgebung, die erfordert, dass Uran als Abfall behandelt wird, und erklärte, dass die Regierung beabsichtigt, diesen Ansatz zu ändern. Sie beschrieb die derzeitige Anforderung, Uran zu entsorgen, während es aus anderen Ländern importiert wird, als eine unkluge Ressourcennutzung, die sowohl für die Umwelt als auch für das Klima schädlich ist.
- Government's explicit intention to change uranium mining legislation
- Strong political support for nuclear power development
- Company owns 100% of Viken Energy Metals Deposit, one of the world's largest uranium and vanadium deposits
- Current moratorium still in effect with no specific timeline for removal
- Legislative changes pending with uncertain implementation timeline
Vancouver, British Columbia--(Newsfile Corp. - November 15, 2024) - District Metals Corp. (TSXV: DMX) (OTCQB: DMXCF) (FSE: DFPP) ("District" or the "Company") is pleased to highlight Swedish Parliament meeting records from the Committee on European Union (EU) Affairs on October 11, 2024.
These Swedish Parliament meeting records are of particular importance to District and its shareholders given the Company's
We continue to monitor Swedish political developments closely and continue to believe that the Government intends to lift the uranium moratorium. The Company awaits additional guidance from the Swedish Government as to the timing and content of legislation that could reinstate uranium mining and exploration in Sweden.
Recent Comments from the Swedish Government on the Uranium Moratorium are as follows:
Swedish Parliament records from meetings of the Committee on EU Affairs on October 11, 2024 were recently posted on the Sveriges Riksdag website here:
Nuclear energy and uranium mining were discussed where Honourable Romina Pourmokhtari, Minister of the Environment, re-iterated Sweden's stance on nuclear energy by stating:
"The Government will continue to work to ensure that nuclear power is highlighted as one of the low-emission technologies that needs to be accelerated in order to achieve emission reductions in line with the 1.5-degree target for global warming."
Minister Pourmokhtari further added:
"Uranium is found, but according to the previous government's amendments to the legislation, uranium must be treated as waste and large sums of money must be spent on disposing of this mineral, which we have an enormous need for, in order to buy it from elsewhere instead. This is something that this government intends to change, and I am very proud of that."
"It is simply not a very wise use of our resources - to have uranium in your soil, to lift it out of the ground, to have an ongoing mining operation but be forced to treat it as waste because there is legislation from the previous government, which decided that you have to treat the uranium as waste. I believe that this is a waste of resources and harmful to both the environment and the climate."
Technical Information
All scientific and technical information in this news release has been prepared by, or approved by Garrett Ainsworth, PGeo, President and CEO of the Company. Mr. Ainsworth is a qualified person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.
The data disclosed in this news release is related to historical results. District has not undertaken any independent investigation of the sampling nor has it independently analyzed the results of the historical exploration work in order to verify the results. District considers these historical results relevant as the Company is using this data as a guide to plan exploration programs. The Company's current and future exploration work includes verification of the historical data through drilling.
Mr. Ainsworth has not verified any of the information regarding any of the properties or projects referred to herein other than District's properties. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on District's properties.
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
The advanced exploration stage Tomtebo Property is located in the 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 VMS/SedEx style mineralization as other significant mines within the district.
For further information on the Tomtebo Property, please see the technical report entitled "NI 43-101 Update Technical Report on the Tomtebo Project, Bergslagen Region of Sweden" dated effective October 15, 2020 and amended and restated on February 26, 2021, which is available on SEDAR+ at www.sedarplus.ca.
On Behalf of the Board of Directors
"Garrett Ainsworth"
President and Chief Executive Officer
(604) 288-4430
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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 Swedish Government's lifting of its moratorium on uranium exploration and mining in Sweden; the benefits and timing of the Nasdaq First North Growth Market listing; 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.
These statements and other forward-looking information are based on opinions, assumptions and estimates made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate and reasonable in the circumstances, as of the date of this news release, including, without limitation, assumptions about: the reliability of historical data and the accuracy of publicly reported information regarding past and historic mines in the Bergslagen district; in respect of the intention of the Swedish government to eventually lift or amend its moratorium on uranium exploration and mining in Sweden; the ability to complete steps to the Nasdaq First North Growth Market listing; the Company's ability to raise sufficient capital to fund planned exploration activities, maintain corporate capacity; and stability in financial and capital markets.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks associated with the following: the reliability of historic data on District's properties; the Company's ability to raise sufficient capital to finance planned exploration; that the Swedish government maintains its moratorium on uranium exploration and mining in Sweden for the foreseeable future; that the Nasdaq First North Growth Market listing benefits will not be realized and may increase the regulatory burden on the Company; the Company's limited operating history; the Company's negative operating cash flow and dependence on third-party financing; the uncertainty of additional funding; the uncertainties associated with early stage exploration activities including general economic, market and business conditions, the regulatory process, failure to obtain necessary permits and approvals, technical issues, potential delays, unexpected events and management's capacity to execute and implement its future plans; the Company's ability to identify any mineral resources and mineral reserves; the substantial expenditures required to establish mineral reserves through drilling and the estimation of mineral reserves or mineral resources; the uncertainty of estimates used to calculated mineralization figures; changes in governmental regulations; compliance with applicable laws and regulations; competition for future resource acquisitions and skilled industry personnel; reliance on key personnel; title matters; conflicts of interest; environmental laws and regulations and associated risks, including climate change legislation; land reclamation requirements; changes in government policies; volatility of the Company's share price; the unlikelihood that shareholders will receive dividends from the Company; potential future acquisitions and joint ventures; risks related to existing earn-in and joint venture with Boliden; infrastructure risks; fluctuations in demand for, and prices of metals; fluctuations in foreign currency exchange rates; legal proceedings and the enforceability of judgments; going concern risk; risks related to the Company's information technology systems and cyber-security risks; and risk related to the outbreak of epidemics or pandemics or other health crises. For additional information regarding these risks, please see the Company's Annual Information Form dated July 11, 2022, under the heading "Risk Factors", which is available at www.sedarplus.ca. These factors and assumptions are not intended to represent a complete list of the factors and assumptions that could affect the Company. These factors and assumptions, however, should be considered carefully. Although the Company has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in the forward-looking information or information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Also, many of such factors are beyond the control of the Company. Accordingly, readers should not place undue reliance on forward-looking information. The forward-looking information is made as of the date of this news release, and the Company assumes no obligation to publicly update or revise such forward-looking information, except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230081
FAQ
What did Swedish Environment Minister say about uranium mining on October 11, 2024?
How does the uranium moratorium affect District Metals (DMXCF)?
What is the current status of uranium mining legislation in Sweden as of November 2024?
