District Uncovers High Priority Targets from Airborne MobileMT Survey at the Tasjo Alum Shale Property in Sweden

The most recent news, dated November 18, 2025, reports positive results from an airborne Mobile Magnetotelluric (MobileMT) geophysical survey at its Tåsjö Alum Shale Property in Sweden. The survey successfully identified eight large, low resistivity (highly conductive) anomalies. According to CEO Garrett Ainsworth, these anomalies are consistent with the geophysical signature of the company's massive Viken Energy Metals Deposit. This correlation strengthens the company's geological model, suggests significant scale potential for mineralized Alum Shale across the Tåsjö property, and represents a key step toward defining high-impact drill targets.

This news is materially positive as it successfully executes on the company's stated exploration strategy and expands the potential scale of its Alum Shale assets. The analysis of historical news provides crucial context:

• The Uranium Pivot (Late 2024 - Early 2025): The company strategically positioned itself for the eventual lifting of Sweden's uranium moratorium by listing on the Nasdaq First North in Sweden, consolidating 100% of the Viken deposit, and buying out all associated royalties to make it royalty-free.

• Demonstrating Scale (April 2025): The April 29th release of an updated NI 43-101 Mineral Resource Estimate (MRE) for Viken was a pivotal moment. It established the deposit as the world's second-largest uranium resource (1.5 billion pounds U3O8 inferred) and highlighted its enormous polymetallic potential (vanadium, nickel, etc.), confirming it as a world-class asset. This was followed by a well-timed $6 million financing at $0.27 per share in May 2025.

• Setback and Refocus (August 2025): A significant negative event occurred on August 25, when major mining partner Boliden Mineral AB terminated its earn-in agreement on the Tomtebo and Stollberg base metal properties. This eliminated a key partner and funding source for the base metals side of the portfolio and caused a sharp, high-volume sell-off in the stock. The company immediately pivoted its communications back to its core uranium story.

• Building Momentum (Sept - Oct 2025): District systematically released a series of positive geophysical survey results (UAV and MobileMT) from its various uranium and Alum Shale properties (Viken, Ardnasvarre, Osterkalen). This strategy successfully demonstrated that their exploration concept was working and that the Viken deposit might be part of a much larger, district-scale system.

• The Game-Changer (November 2025): The catalyst the market was waiting for arrived on November 5, when the Swedish Parliament officially voted to repeal the moratorium on uranium mining, effective January 1, 2026. This fundamentally de-risked the Viken project from a legislative standpoint and was the primary driver for the stock's significant appreciation.

The November 18 news fits perfectly into this timeline. It is the third consecutive successful MobileMT survey result, confirming that the technology is an effective tool for identifying Viken-style targets across their extensive land package. It adds eight more large-scale targets to their inventory ahead of being able to apply for drill permits in 2026. While not as impactful as the legislative change, it is a crucial piece of execution that reinforces the investment thesis and demonstrates management is building a pipeline of high-potential targets.

District Metals Corp. is a junior exploration company focused on mineral properties in Sweden. Its primary focus is now on its uranium and energy metals portfolio, headlined by its flagship Viken Energy Metals Deposit. The Viken project is a 100%-owned, royalty-free Alum Shale deposit which hosts the world's second-largest mineral resource estimate of uranium, along with globally significant resources of vanadium, molybdenum, nickel, and other critical metals. The project's potential was unlocked by the Swedish government's decision to lift the country's moratorium on uranium exploration and mining, effective January 1, 2026.