District to Commence Trading on Nasdaq First North Growth Market in Sweden
918-1030 West Georgia Street, Vancouver, BC, V6E 2Y3
Telephone: (604) 288 -4430
District to Commence Trading on
Nasdaq First North Growth Market in Sweden
Vancouver, B.C. January 22, 202 5
January 22, 202 5 – District Metals Corp . (TSX -V: DMX) (OTCQB: DMXCF) (FRA:
DFPP); (“District” or the “Company”) is pleased to announce that the Company has received
confirmation that its Nasdaq First North Growth Market (“Nasdaq First North”) listing
application has been approved. As a result, District’s depositary receipts (the “DMX SDRs”) will
begin trading on Nasdaq First North at market open (Sweden local time) on January 23, 2025,
under the symbol “ DMXSE SDB”. Swedish depositary receipts are financial instruments issued
by a Swedish bank representing shares in a non -Swedish company. The Company’s ISIN
(CA2548481 043) remains unchanged. Additionally, the Company’s common shares will continue
to be traded on the TSX Venture Exchange under the symbol “ DMX”.
Garrett Ainsworth , CEO and President, commented, “ The timing of our listing on the Nasdaq
First North could not be better. A strong focus on the importance of exploration and mining has
returned to Sweden, which has been hastened with the uncertainty of supply of critical and
important raw materials for Europe. These positive developments are reflected in the fact that our
Viken Deposit is currently under review by the Geological Survey of Sweden as an area of
national interest due to its historical vanadium mineral resource. Vanadium is a critical raw
material as defined by the European Union.
Additionally, on December 20, 2024, the Swedish Government released an inquiry regarding the
potential lifting of the uranium ban and issued a press release highlighting positive developments
in their efforts to lift the ban on uranium mining. We have summ arized this update here.
Finally, we began 2025 with exciting news that a definitive royalty purchase agreement has been
executed, allowing District to acquire the 2% NSR royalty on the Viken Deposit. Subject to
closing, this agreement will result in District’s fully owned Viken Deposit being entirely free of
any NSR royalty , and the details can be found here.”
Nasdaq First North is a natural choice as a secondary listing for District, as it will help expand
the Company’s presence in Europe to further broaden its shareholder base. The decision to list on
the Nasdaq First North was influenced by the potential for wider distribution of corporate
information, increased trading volume, and greater visibility to prospective European investors.
These factors are expected to benefit both existing and new shareholders.
District controls highly prospective uranium and base metals polymetallic assets in the Nordic
region, which provides European investors with a unique opportunity to participate in the rush to
secure domestic supplies of critical and important raw materials. These raw materials are essential
for the development of new technologies and the ongoing green transition. They play a crucial
role in the production of affordable electricity, batteries for electric vehicles, solar panels, wind
turbines, grid expansio n, and advanced electronics such as smartphones and computers.
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 100% of the uranium-vanadium Viken
Deposit, which is an asset with substantial exploration and development expenditures that resulted
in the definition of historic polymetallic resource estimates in 2010 and 2014.
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 min es 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.sedar plus.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 “doe s 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 manage ment’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 listing including whether the Company will complete the Nasdaq First North listing ; the Company’s exemptive relief
application; 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 reporte d
informa tion 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 listing and obtain other necessary approvals ; the Company’s ability to raise sufficient capital to fund planne d
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 conside re d
reasonable by the Company as of the date such statements are made, are subject to known and unknown risks, uncertaintie s ,
assumptions and other factors that may cause the actual results, level of a ctivity, 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 foll owing: 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 f or
the foreseeable future ; that the Nasdaq First North listing benefits will not be realized and may increase the regulatory burde n
on the Company; that the Company may be subject to increased regulatory requirements as a result of the Nasdaq First North
listing; 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 includ ing
general econo mic, market and business conditions, the regula tory 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 establis h
mineral reserves through drilling and the estimation of mineral reserves or mineral resources; the uncertainty of estimates u sed
to calculated mineralization figures; changes in governmental regu lations; compliance with applicable laws and regulations ;
competition for future resource acquisitions and skilled industry personnel; reliance on key personnel; title matters; confli cts 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 wil l
receive dividends from the Company; potential future acquisitions and joi nt 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 epidem ics or pandemics or othe r
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.sedar plus.ca. These factors and assumptions are not intende d
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.