UAV Radiometric and Magnetic Survey Results Highlight Significant Exploration Potential at District Metals’ Ardnasvarre Property in Sweden
918-1030 West Georgia Street, Vancouver, BC, V6E 2Y3
Telephone: (604) 288-4430
UAV Radiometric and Magnetic Survey Results Highlight
Significant Exploration Potential at District Metals’ Ardnasvarre
Property in Sweden
Vancouver, B.C. October 15, 2025
October 15, 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 MWH Geo -Surveys International Inc. (“MWH”) has completed a detailed
Unmanned Aerial Vehicle (“UAV”) radiometric and magnetic survey at the Company’s 100%
owned Ardnasvarre Property located in Norrbottens County in northern Sweden.
The UAV survey at the Ardnasvarre Property has successfully identified strong and large
uraniferous radiometric anomalies associated with uranium boulder trains sourced from the
Viepsajokk and Labbas uranium polymetallic occurrences.
The Labbas uranium polymetallic occurrence is a basement-hosted and intrusive-related uranium
polymetallic mineralized zone that is associated with a local magnetic low response that extends
beyond historical drilling, which may indicate potential for significant expansion from th is
previously delineated uranium polymetallic mineralization. Historic drill results from the Labbas
uranium zone include 7.0 m at 0.17% U3O8 from 50.0 to 57.0 m including a higher grade interval
of 0.8 m at 0.94% U 3O8 from 53.5 to 54.3 m. The drill results can be found in the Geological
Survey of Sweden (SGU) database: https://www.sgu.se/en/products/geological-data. Drill results
have been converted from U to U308 (U308=U*1.1792).
The Viepsajokk uranium occurrence comprises 79 uranium mineralized conglomerate and breccia
boulders that are sourced from the base of the late Precambrian Laisvall Sedimentary Formation
that unconformably lie above the Precambrian crystalline basement rocks . This unconformity -
style uranium mineralization on the Ardnasvarre Property is similar to unconformity-style
uranium mineralization found in the Athabasca Basin in Northern Saskatchewan, Canada, which
is known for high grades of uranium. According to the Geological Survey of Sweden in 1984 the
Viepsajokk uranium occurrence w as regarded as one of the most promis ing unconformity-style
uranium target areas, but the 16 proposed holes were never drilled.
Garrett Ainsworth, CEO of District, commented: “The UAV radiometric survey results from our
Ardnasvarre Property have revealed two significant uraniferous boulder trains that appear to be
sourced from the Labbas and Viepsajokk uranium polymetallic occurrences. A boulder train is a
line or trail of mineralized boulders that have been moved from their original bedrock mineralized
source by glaciers during the ice age. The direction of these past glaciers on the Ardnasvarre
Property is from north -northwest to south -southeast, which pinpoints the bedrock mineralized
source area at the north-northwest side of the boulder train.
“The UAV magnetic survey results at the Labbas uranium occurrence indicates a magnetic low
trough along the shoulder of a magnetic high where past drilling defined a historical resource
estimate for uranium at the north-northwest end of a significant uraniferous boulder train. These
recent magnetic results suggest that an extensive strike length remains untested by previous
drilling at the Labbas occurrence . The Viepsajokk occurrence has never been drilled, and the
potential bedrock mineralized source is also situated in a magnetic low trough along the shoulder
of a magnetic high while also being at the north-northwest end of a significant uraniferous boulder
train.
“We are excited by these UAV results and look forward to advancing our exploration efforts in
this highly prospective region of northern Sweden.”
Uranium is commonly used as a geochemical pathfinder in mineral exploration due to its close
association with various valuable mineral deposits, including rare earth elements ( REEs), base
metals, and iron-oxide-copper-gold (IOCG) systems. In Sweden, certain geological environments
show elevated uranium concentrations that may indicate the presence of other economically
significant metals and minerals. However, while uranium anomalies can guide exploration efforts,
it is important to note that there is currently a moratorium on uranium exploration and mining in
Sweden that the Government has stated they intend to abolish as of January 1, 2026 (see news
release dated September 2, 2025).
Figure 1: Ardnasvarre nr 101 Uraniferous Radiometric and Magnetic Compilation
Ardnasvarre Property Highlights:
• The Ardnasvarre nr 1 mineral license is located within the Arjeplog -Arvidsjaur
uranium province and covers an area of 9,708 hectares (ha) that is prospective for
uranium, copper, zinc, lead, and REE.
• Straddles the unconformity between exposed Svecofennian basement rocks and overlying
Caledonide sedimentary rocks where targets include stratabound, unconformity- and
intrusive-related uranium and REE mineralization . Additional targets
include sandstone-hosted lead and zinc mineralization, similar to the nearby historic
Laisvall deposit.
• Labbas Uranium Zone: drilling by the SGU in the 1970’s and 1980’s resulted in
a historical resource estimate of 86,478 tonnes at an average grade 0.12%
U3O8 containing 228,780 lbs of U3O8 using a polygon resource estimation method. The
Labbas zone contains elevated molybdenum and zirconium, and remains open in all
directions. This mineral resource is considered to be an “historical estimate” under NI
43-101 and a qualified person has not done sufficient work to classify the historical
estimate as a current mineral resource and District is not treating the historical estimate
as a current mineral resource.
o See Svensson, S., 1981: Uranium Prospecting in Norrland. Uranrapport 1981 -8,
Sveriges Geologiska Undersökning, BRAP 81083, p. 67 (the “Labbas Uranium
Zone Report”).
o The Company views the historical estimate included in the Labbas Uranium Zone
Report to be relevant and reliable.
o A new ore reserve calculation using the polygone method has been done with
respect to all drillholes. The calculation gives 88 tonne U at a grade of 0.10 %U
and the thickness 3.4 metres or 4 metres horizontally.
o An unsuccessful attempt was made to excavate the presumed subglacial outcrop
of the mineralisation discovered SW from the “main body”. The trenching was
done recently and there were a lot of difficulties with water in the trenches. The
detailed magnetometer measurement is finished and the result plotted.
o Mineral resources under the Labbas Uranium Zone Report were classified under
previous definition standards and do not match the current categories under NI
43-101.
o The Company is not aware of any more recent estimates or data available to the
Company on the Ardnasvarre Uranium Property.
o The Company would need to conduct an exploration program, including twinning
of historical drill holes in order to verify the Ardnasvarre Uranium Property
historical estimate as a current mineral resource.
o The mineral resource estimate is considered to be a “historical estimate” under
NI 43 -101 and a qualified person has not done sufficient work to classify the
historical estimate as a current mineral resource and District is not treating the
historical estimate as a current mineral resource.
• Labbas Uranium Zone: A single hole (LAB08-001) was drilled in 2008 by Continental
Precious Minerals that returned 7.0 m at 0.17% U 3O8 from 50.0 to 57.0 m including a
higher-grade interval of 0.8 m at 0.94% U3O8 from 53.5 to 54.3 m. The drill results can
be found in the Geological Survey of Sweden (SGU)
database: https://www.sgu.se/en/products/geological-data. Drill results have been
converted from U to U308 (U308=U*1.1792).
• The Ardnasvarre Property has never seen systematic modern exploration.
The Company is not treating the Ardnasvarre Uranium Property as a mineral project material to
the Company. District has not undertaken any independent investigation of the drill results nor
has it independently analyzed the drill results in order to verify the results. District considers
these drill 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.
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 Ardnasvarre Mineral Licenses. Mineralization on any other
properties referred to herein is not necessarily indicative of mineralization on the Ardnasvarre
Mineral Licenses.
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 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 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.
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”, “ta rgets”, “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 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 potential lifting of
the current ban on uranium mining in Sweden; 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 Swedish government
will 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 ; 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; 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 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 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 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. 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.
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