District Comments on the Swedish Parliament’s Decision to Lift the Uranium Moratorium
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Telephone: (604) 288-4430
District Comments on the Swedish Parliament’s Decision to Lift
the Uranium Moratorium
Vancouver, B.C. November 5, 2025
November 5, 2025 – District Metals Corp. (TSX -V: DMX) (N asdaq First North : DMXSE
SDB) (OTCQB: DMXCF) (FRA: DFPP) ; (“District” or the “ Company”) is pleased to
announce that the Swedish Parliament voted today to repeal the moratorium on uranium mining
and exploration in Sweden imposed in 2018 and approved n ew legislation permitting uranium
exploration and mining will come into effect on January 1, 2026.
The decision marks a pivotal shift in Sweden’s energy and mining policy, aligning national
regulation with the country’s goals of improving energy security, supporting its nuclear power
ambitions and strengthening its role in the supply of critical raw materials. Swedish bedrock hosts
approximately 27 percent of Europe’s known uranium resources.1
Key Features of the Legislation to be valid from January 1, 2026:
• The moratorium on granting permits for mining operations that handle uranium is lifted.
• Uranium will be classified as a “concession mineral” under the Minerals Act, bringing it
into the same regulatory regime as other extractable minerals.
• The section of the Environmental Code prohibiting uranium -related mining and
processing will be repealed or amended so that uranium-related operations may apply for
exploration and extraction licences, subject to prescribed conditions.
• Technical and regulatory safeguards will remain in place, including oversight from the
Swedish Radiation Safety Authority and environmental impact assessments consistent
with Sweden’s high-standard permitting regime.
Garrett Ainsworth, CEO of District, commented: “ The Swedish Government’s consistent and
thorough approach to lifting the uranium moratorium has now culminated in today’s historic vote
by the Swedish Parliament to repeal the ban on uranium exploration and mining. The legislative
changes enabling uranium exploration and extraction are scheduled to take effect on
January 1, 2026. We are very pleased with this decisive step, which positions Sweden to unlock
1 https://www.sgu.se/en/physical-planning/energy/uranium/
its vast uranium resources in support of the green energy transition amid growing global
geopolitical uncertainty.
In anticipation of this decision, District Metals updated the Viken Energy Metals Deposit mineral
resource estimate on April 29, 2025, and complet ed airborne geophysical surveys across our
uranium polymetallic properties in Sweden.
Looking ahead to 2026, we are now eager to further advance exploration programs at our uranium
properties in Sweden that we anticipate will include fieldwork, additional airborne geophysics,
drilling, and an economic study of the Viken Deposit.”
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”).
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 2025 TSX 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 Property covers 100% of the Viken Energy Metals
Deposit, which contains the largest undeveloped M ineral Resource Estimate of uranium in the
world2 along with significant Mineral Resource Estimates of vanadium , molybdenum, nickel,
copper, zinc, and other important and critical raw materials.
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 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 n ot
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 proposed legislation
with respect to uranium exploration and mining; the Company’s 2026 plans; exploration potential; 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 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; assumptions with respect to similarities 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 proposed legislation
with respect to uranium exploration and mining will come into effect ; 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 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 data on District’s properties ; the Company’s ability to raise sufficient capital to finance
planned exploration; the adoption and implementation of the proposed legislation with respect to uranium exploration and
mining; the Company’s limited operating history; risks related to the Company’s geological interpretations; 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 M ineral Resources and
Mineral Reserves; the substantial expenditures required to establish M ineral Reserves through drilling and the estimation of
Mineral Reserves or M ineral 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; infrastructure risks; fluctuations in demand for, and prices of metals; fluctuations in fore ign
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 MD&A for the fiscal year ended
June 30, 2025, under the heading “Risk s 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 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 t he 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.
2 S&P Global Market Intelligence - Market Intelligence Research