District Strengthens its Swedish Footprint by Nearly Doubling the Size of the Alum Shale Properties
918-1030 West Georgia Street, Vancouver, BC, V6E 2Y3
Telephone: (604) 288- 4430
District Strengthens its Swedish Footprint by Nearly Doubling the
Size of the Alum Shale Properties
Vancouver, B.C. December 17, 2025
December 17, 2025 – District Metals Corp. (TSX -V: DMX) (Nasdaq First North: DMXSE
SDB) (OTCQX: DMXCF) (FRA: DFPP); (“District” or the “Company”) is pleased to report
that Bergslagen Metals AB (a 100% owned Swedish subsidiary of District) has applied for 11
mineral licenses covering a total area of 72,078 hectares (ha) as shown in Figure 1 (the “New
Alum Shale Mineral Licenses”). These applications target Alum Shale deposits and have been
registered with Bergsstaten (Mining Inspectorate of Sweden) , which are located in central to
north-central Sweden. Bergsstaten is expected to reach a decision on the Company’s mineral
license applications in the coming weeks.
Highlights:
• The New Alum Shale Mineral License application s will almost double the size of the
existing Alum Shale Properties from 79,250 ha to 151,328 ha.
• The New Alum Shale Mineral License applications were submitted to secure high
priority airborne geophysical MobileMT anomalies identified along the boundaries
of the following existing mineral licenses :
o Österkälen nr 102 (see October 29, 2025 news release)
o Tåsjö nr 110 to 113 (see November 18, 2025 news release)
o Malgomaj nr 1004 (see December 2, 2025 news release)
• The following New Alum Shale Mineral L icense applications were selected from the
results of a comprehensive study that took into account areas with favourable geology,
geochemistry, and geophysics for mineralized Alum Shale s:
o Tåsjö nr 109.
o Hallviken nr 1 and 2.
o Forsåsen nr 1 and 2.
Alum Shale deposits in Sweden typically contain a large inventory of important energy metals
and critical raw materials that will be required as part of the green energy transition. Potentially
viable Alum Shale deposits are large and shallow, which simplifies and lowers the cost of the
exploration, discovery, and development stages.
Districts’ 100% owned Viken Energy Metals Deposit is an Alum Shale deposit that hosts the
world’s largest undeveloped uranium Mineral Resource Estimate i, together with significant
Mineral Resource Estimates of vanadium, molybdenum, nickel, copper, zinc, and other important
and critical raw materials, as reported in District’s April 29, 2025 news release .
On November 5, 2025 the Swedish Government approved a p roposal to lift the ban on uranium
exploration and mining (see news release dated November 5, 2025), and the associated legislation
is expected to be enacted on January 1, 2026.
Garrett Ainsworth, CEO of District, commented: “Nearly doubling the size of our mineral license
area that makes up our Alum Shale Properties represents a significant step forward for District in
building a robust pipeline of highly prospective energy metals properties in Sweden.
The New Alum Shale Mineral License applications were not selected at random; they are the
result of an extensive and disciplined evaluation process in which the selected areas are adjacent
to highly promising airborne MobileMT geophysical anomalies within our existing Alum Shale
Properties, as well as targets identified through a comprehensive technical study that integrated
regional and property- scale geological, geochemical, and geophysical data .
Importantly, this work was carried out with a strong focus on responsible exploration, deliberately
avoiding environmentally sensitive areas. This strategic expansion of our existing Alum Sha le
Properties significantly enhances our exploration optionality, strengthens the continuity of our
land position, and enables District to systematically advance the largely under -explored Alum
Shale Properties toward its full multi- commodity potential over the long term.”
Figure 1: Alum Shale Properties Mineral Licenses and New Mineral License Applications
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 Alum Shale Properties. Mineralization on any other properties
referred to herein is not necessarily indicative of mineralization on the Alum Shale 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 2025 TSX Venture 50 company, ranking among the top-
performing issuers on the TSX Venture Exchange in the past year.
District is a uranium polymetallic exploration and development company focused on its flagship
Viken Property 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 worldi along
with significant Mineral Resource Estimates 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 Technical Report on the Viken Energy Metals Project,
Jämtland County, Sweden” dated effective April 25, 2025, 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 lifting of the current
ban on uranium mining in Sweden.
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, the reliability of exploration and drill results; 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; uranium exploration and mining regulation in Sweden; the Company’s ability to raise sufficient capital to fund
planned exploration activities, maintain corporate capacity; stability in financial and capital markets; the Company’s abilit y 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 data on District’s properties; the Company’s ability to raise sufficient capital to financ e
planned exploration; 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 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 requireme nts; 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; 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. 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.
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