District Uncovers High Priority Targets from Airborne MobileMT Survey at the Tåsjö Alum Shale Property in Sweden
918-1030 West Georgia Street, Vancouver, BC, V6E 2Y3
Telephone: (604) 288-4430
District Uncovers High Priority Targets from Airborne MobileMT
Survey at the Tåsjö Alum Shale Property in Sweden
Vancouver, B.C. November 18, 2025
November 18, 2025 – District Metals Corp. (T SX-V: DMX) (Nasdaq First North: DMXSE
SDB) (OTCQX: DMXCF) (FRA: DFPP) ; (“ District” or the “ Company”) is pleased to
announce positive results from the airborne M obile Magnetotelluric (“MobileMT”) survey
conducted over its 100%-owned Tåsjö nr 101 to 108 mineral licenses, located in Jämtland and
Västerbotten Counties, north-central Sweden (see Figures 1 and 2).
On the basis of these encouraging results, the Company has filed several applications for new
mineral licenses adjacent to some of the Tåsjö mineral licenses that cover possible extensions of
MobileMT anomalies.
Together with the Österkälen and Malgomaj mineral licenses, the Tåsjö mineral licenses form
part of the Company’s Alum Shale Properties, collectively covering approximately 79,250
hectares. All three license areas were surveyed using MobileMT during the summer of 2025. The
survey generated extensive data sets and revealed numerous geophys ical anomalies. The results
are being released in a series of three announcements - this being the second.
The Company’s Tåsjö mineral licenses are approximately 133 km to 170 km northeast from the
Company’s 100% owned Viken Property, which hosts the Viken Energy Metals Deposit.
The high resolution MobileMT su rvey results, covering approximately 34,300 hectares at the
Tåsjö mineral licenses nr 101 to 108 has successfully outlined eight low resistivity (highly
conductive) anomalies (Target Areas A to H in Figure 1) consistent with the MobileMT
signature observed at the Company’s Viken Deposit as reported in District’s news release of
September 24, 2025 . These results represent a major step forward in District’s strategy to
delineate drill-ready targets within a largely underexplored region characterized by Alum Shales
enriched in vanadium, potash, uranium, molybdenum, nickel, zinc, copper, and rare earth
elements (REEs).
The Viken Deposit contains the largest undevelope d Mineral Resource Es timate of uranium in
the worldi along with significant Mineral Resource Estimates of vanadium, potash, molybdenum,
nickel, copper, zinc, and other important and critical raw materials as reported in District’s news
release from April 29, 2025.
The MobileMT survey covered approximately 1,391 line kilometers at 400-meter line spacing
across the Tåsjö Property. The high-priority target areas were selected based on the shallow depth
and thickness of the interpreted Alum Shale. The Alum Shale is typically flat-lying, and is rich in
graphite and sulphides, making it low resistivity (highly conductive) and easy to detect using the
airborne MobileMT system.
Garrett Ainsworth, CEO of District, commented: “The airborne MobileMT survey over our Tåsjö
Alum Shale mineral licenses has delivered more exceptional results, identifying eight low
resistivity (high conductivity) anomalies that are consistent with those identified recently on the
Viken Property. This correlation reinforces ou r geological model and highlights the potential
extensive scale of mineralized Alum Shale acr oss District’s Tåsjö mi neral licenses. These
findings represent a significant step toward defi ning high impact drill ta rgets and advancing the
Company’s strategy to uncover important and cri tical raw materials in an underexplored, yet
highly prospective region.”
Uranium is commonly used as a ge ochemical pathfinder in mineral exploration due to its close
association with various valuable mineral deposits, including REEs, base metals, and iron-oxide-
copper-gold systems. In Swede n, certain geological environmen ts show elevated uranium
concentrations that may indicate the presence of other economically significant metals and
minerals. On November 5, 2025 the Swedish Gove rnment approved the Proposal to lift the ban
on uranium exploration and mining (see news release dated November 5, 2025), and, accordingly,
the associated legislation is expected to be revised on January 1, 2026.
Figure 1: Tåsjö Property MobileMT Survey Results in Plan View
918-1030 West Georgia Street, Vancouver, BC, V6E 2Y3
Telephone: (604) 288-4430
Figure 2: Cross Section through Target A on Tåsjö Property
918-1030 West Georgia Street, Vancouver, BC, V6E 2Y3
Telephone: (604) 288-4430
Technical Information
All scientific and technical information in this news release has been prepared by, or approved by
Garrett Ainsworth, P.Geo, 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 (“NI 43-101”).
Mr. Ainsworth has not verified any of the information regarding any of the properties or projects
referred to herein other than the Tåsjö Propert y. Mineralization on any ot her properties referred
to herein is not necessarily indicative of mineralization on the Tåsjö Property.
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 ou t, explore, and develo p prospective mineral
properties through a discip lined science-based approach to cr eate shareholder value and benefit
other stakeholders. District is a 2025 TS X Venture 50 company, ranking among the top-
performing issuers on the TSX Venture Exchange in the past year.
District is a polymetallic exploration and development company focused on the Viken and
Tomtebo Properties in Sweden. The Viken Proper ty covers 100% of th e Viken Energy Metals
Deposit, which contains the larg est undeveloped Mineral Resource Estimate of uranium in the
worldi along with significant Mineral Resource Es timates of vanadium, molybdenum, nickel,
copper, zinc, and other important and critical raw materials.
For further information on the Viken Property, please see the technical report entitled “NI 43-101
Updated Mineral Resource Estimate and Technica l Report on the Viken Energy Metals Project,
Jämtland County, Sweden” dated effective Apri l 25, 2025, which is ava ilable 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 res ponsibility for the adequacy or accuracy of this
release.
Cautionary Statement Regarding “Forward-Looking Information”
This news release contains certain statem ents 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 te rminology such as “plans”, “tar gets”, “expects” or “does not
expect”, “is expected”, “an opportunity exis ts”, “is positioned”, “estim ates”, “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, pred ictions, indications, projections or othe r 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, estimate s and projections regarding future events. Forward-looking
information in this news release relating to the Company include, among other things, statements relating to potential lifting of
the current ban on uranium mining in Sweden; exploration potentia l; and similarities of exploration properties to other mineral
deposits.
These statements and other forward-looking information are based on opinions, assumptions and estimates made by the
Company in light of its experience and percep tion 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 the reliability of explor ation and drill results; assumpti ons with respect to similariti es of
exploration properties to other mineral deposits; reliability of data and the accuracy of publicly reported information regarding
current, past and historic mines in the Bergslagen district and in respect of the Swedish properties; that the Swedish government
will eventually lift or amend its moratorium on uranium expl oration and mining in Sweden; the Company’s ability to raise
sufficient capital to fund planned exploratio n activities, maintain corporate capacity ; stability in financial and capital mark ets;
the Company’s ability to complete its planned exploration programs; the absence of adverse conditions at mineral properties; no
unforeseen operational delays; no material delays in obtaining necessary permits; the price of metals remaining at levels that
render mineral properties economic.
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 dat a 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; the Company’s limited operating history; risks related to the Company’s geological interpretations; the
Company’s negative operating cash flow and dependence on th ird-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 implem ent its future plans; the Company’s abili ty to identify Mineral Resources and
Mineral Reserves; the substantial expenditu res required to establish Mi neral Reserves through drilling and the estimation of
Mineral Reserves or Mineral Re sources; 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 shareholde rs will receive divide nds from the Company; potential future
acquisitions and joint ventures; infrastructu re risks; fluctuations in demand for, and prices of meta ls; fluctuations in foreig n
currency exchange rates; legal proceedings and the enforceability of judgm ents; 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 MD&A for the fiscal year ended
June 30, 2025, under the heading “Risks and Uncertainties”, 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 materia lly 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 Co mpany. Accordingly, readers shou ld 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.
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