District Reports on Geochemical Results from Nianfors Uranium Property in Sweden

District Metals Corp. announced results from its summer 2026 reconnaissance field program at the 100%-owned Nianfors Uranium Property in Sweden. The program focused on follow-up of uraniferous radiometric anomalies initially identified by a 2025 UAV survey. Activities included geological mapping, radiometric surveying, and geochemical sampling of bedrock outcrops and boulders across 111 field stations.

Geochemical results returned significant values: Uranium (U3O8) up to 937 ppm, Yttrium (Y2O3) up to 667 ppm, and Molybdenum (Mo) up to 509 ppm. The Majsaberget occurrence showed the highest uranium values, sitting atop a field of 889 mineralized boulders over a 500m x 200m area. Historical assays from the area previously reported boulder values ranging up to 14,000 ppm U3O8 and 8,756 ppm Y2O3. The Majsaberget occurrence has never been drill tested, leaving bedrock-hosted mineralization beneath the boulder field unverified.

The company is integrating this geochemical data with geological mapping and radiometric results to refine the property's interpretation and advance priority areas toward drill targeting.

District Metals Corp. (DMX) released an incremental exploration update for its Nianfors property, marking a standard follow-up to previously announced geophysical and radiometric surveys. The results validate the presence of elevated uranium, yttrium, and molybdenum in surface boulders, reinforcing the geological model for the site. This activity aligns with the company's stated 2026 exploration plan to test anomalies identified in prior years.

The release does not include new resource estimates, drill results, or financing announcements. The market has already priced in the regulatory shift allowing uranium mining in Sweden and the company's preliminary economic assessment metrics. Consequently, the release does not introduce fundamentally new valuation drivers.

District Metals Corp. (DMX) is a pre-revenue exploration and development company focused on uranium and critical metals in Sweden. Its flagship asset is the Viken Energy Metals Deposit, which hosts the world's largest undeveloped uranium mineral resource estimate, along with significant vanadium, potash, molybdenum, nickel, copper, and zinc resources.

A Preliminary Economic Assessment (PEA) filed in July 2026 outlined an after-tax net present value (NPV) of US$2.88 billion, an internal rate of return (IRR) of 45.9%, and a 13-year mine life with negative cash costs for uranium due to by-product credits.

The company also holds a 151,328-hectare Alum Shale land package, including the Osterkalen, Malgomaj, and Tasjo properties, as well as the Nianfors property. All assets are 100% owned and royalty-free. Management is advancing exploration using MobileMT geophysics, geochemical sampling, and diamond drilling to delineate drill-ready targets across the portfolio.