District Metals applies for Nianfors No. 103 licence

Executive Summary

• District Metals completed a UAV radiometric and magnetic survey at its 100 % owned Nianfors property in Sweden, confirming historic uranium‑molybdenum‑REE occurrences and identifying a new high‑intensity uraniferous anomaly.
• The newly discovered anomaly is ~50 % stronger than the known Majsaberget occurrence; District has filed a mineral licence application for Nianfors No. 103 to secure the target area (~1.9 km NE of Majsaberget).
• Historical data suggest the property could host up to ~13 M lbs U₃O₈ (≈5,900 t), though these estimates are historical and not yet classified under current NI 43‑101 standards.

Key Details

• Survey Scope: Unmanned aerial vehicle (UAV) radiometric & magnetic survey conducted by MWH Geo‑Surveys International Inc. across the entire Nianfors licence area.
• Majsaberget Occurrence (Nianfors No. 102): 889 documented uraniferous boulders; assay range 0.01 %–1.4 % U₃O₈, 0.05 %–0.22 % Mo, 0.08 %–0.69 % Y. Weighted average of historic boulders: 0.16 % U₃O₈ and 0.08 % Y.
• Historical Resource Estimate:
• Probable & presumed tonnage: 5.2 M – 10.4 M lbs U₃O₈ (2,358‑4,717 t).
• Total potential: ≥12.99 M lbs U₃O₈ (≈5,896 t).
• Resource classification is historical; not compliant with current NI 43‑101 definitions.
• New Anomaly: High‑intensity uraniferous radiometric response detected along the eastern boundary of Nianfors No. 102; anomaly intensity ≈150 % of Majsaberget signal.
• Land Expansion Action: Submitted application for new mineral licence Nianfors No. 103 to cover the newly identified target area (~1.9 km NE of Majsaberget).
• Exploration Outlook: District plans verification drilling and geochemical sampling to confirm historic data and evaluate the new target; twinning of historical drill holes will be part of the program.
• Regulatory Context: Sweden currently has a moratorium on uranium exploration/mining, slated for removal on 2026‑01‑01 per government announcement (see District release Sept 2 2025).

Notable Quotes

“The results from the UAV survey at our Nianfors property have exceeded our expectations by not only validating known high‑grade uranium polymetallic occurrences but also uncovering a significant new target with even stronger uraniferous radiometric responses. This expansion of our land position at Nianfors underscores our commitment to aggressively explore and unlock the full potential of this underexplored region in Sweden.” – Garrett Ainsworth, President & CEO

All technical information prepared or approved by Garrett Ainsworth, P.Geo., qualified person under NI 43‑101.