District Appoints Hein Raat to Vice President Exploration and Rita Bennett to Strategic Advisor
918-1030 West Georgia Street, Vancouver, BC, V6E 2Y3
Telephone: (604) 288-4430
District Appoints Hein Raat to Vice President Exploration
and Rita Bennett to Strategic Advisor
Vancouver, B.C. June 4, 2024
June 4, 2024 – District Metals Corp . (TSX-V: DMX) (OTCQB: DMXCF) (FRA: DFPP);
(“District” or the “Company”) is pleased to announce key appointments that will strengthen and
expand the Company’s operational efficiency in Sweden, and international marketing prowess .
Hein Raat has been appointed as Vice President Exploration, which is key role given District’s
ongoing collaboration with Boliden Mineral AB on the polymetallic Tomtebo and Stollberg
Properties in the Bergslagen Mining District of south- central Sweden (February 20, 2024 news
release). Rita Bennett has been appointed as Strategic Advisor, which aligns with District’s
increase in marketing and corporate communications.
Mr. Raat is a professional geologist (EurGeol) with extensive experience exploring for base and
precious metal deposits in Scandinavia and Europe. He was a Geologist for the Boliden Group in
Sweden for eight years with the last four years being focused on polymetallic projects in the
Bergslagen Mining District. Mr. Raat spent much of his time in the Bergslagen working on the
polymetallic Stollberg Project, which is located approximately 40 km southwest and along trend
from District’s Tomtebo Property. Mr. Raat specializes in prospect evaluation, target generation,
historical data compilation, exploration permitting and community relations, geological mapping
and sampling, planning and supervision of drilling campaigns, 3D geological modelling, and GIS
& Database management.
Ms. Bennett brings over 20 years of professional and entrepreneurial experience in marketing,
communications, and business administration. She has held senior positions such as Director and
VP Marketing for marketing agencies and mining exploration companies, and specializes in
content strategy and development. Most recently, Ms. Bennett acted as VP Corporate
Communications for Great Bear Resources since 2017, until the Company’s acquisition by
Kinross Gold for $1.8B in early 2022. As President of Discovery Group, she currently oversees
its marketing and communications functions for all member companies.
Garrett Ainsworth, CEO of District, commented: “I’ve had the pleasure of working with Hein and
Rita since District entered Sweden in 2020, and their appointments are natural transitions that
reflect their hard work, elite skill sets, and high level of professionalism.
As we move forward with our exploration in Sweden, Hein’s knowledge of polymetallic deposits,
management skills, permitting, and community relations will continue to be critical functions for
District’s continued success.
Rita’s work on marketing and corporate communications continues to laser focus District’s efforts
in thoroughly conveying our story to a wide and astute domestic and international audience while
also being very cost effective.
I couldn’t be prouder of the team and shareholders that we have brought together under the
District banner.”
District also announces that it has changed its auditors from Smythe LLP (the “Former Auditor”)
to Davidson & Company LLP (the “Successor Auditor”). The Former Auditor resigned as the
auditor of the Company effective May 22, 2024 , and the board of directors of the Company
appointed the Successor Auditor on May 24, 2024, until the next annual shareholder meeting of
the Company.
The Company’s board of directors and audit committee each approved the resignation of the
Former Auditor and the appointment of the Successor Auditor in place of the Former Auditor;
there were no reservations, modified opinions or reportable events (as defined in National
Instrument 51-102) in connection with each of the Former Auditor’s audit of the Company which
occurred prior to their resignation as auditors of the Company; and the Notice of Change of
Auditor was approved by the Company’s board of directors.
In accordance with National Instrument 51 -102, the Notice of Change of Auditor, together with
the required letters from the Former Auditor and the Successor Auditor, have been reviewed by
the audit committee and the board of directors and have been filed on SEDAR+.
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 s hareholder 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 uranium-vanadium Viken
Deposit, which is an asset with substantial exploration and development expenditures that resulted
in the definition of large historic polymetallic resource estimates in 2010 and 2014. The Viken
Deposit is amongst the largest deposits by total historic mineral resources of uranium and
vanadium in the world.
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 ca n 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 n ot
anticipate” or “bel ieves”, 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 Purchase
Agreement and closing thereof; 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 rep orted
information regarding past and historic mines in the Bergslagen district; and in respect of the intention of the Swedish
government to eventually lift or amend its moratorium on uranium exploration and mining in Sweden; 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; 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 in terest; 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 d ividends 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 epidem ics 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 identi fy 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.