District Reports on Geochemical Results from Sagtjarn Uranium Property in Sweden

District Metals Corp. announced geochemical sampling results from its 100%-owned Sagtjarn Uranium Property in Sweden. Reconnaissance field mapping and sampling identified widespread uranium mineralization over a 2 km strike length, extending beyond historic limits.

High-grade values were detected in pegmatite intrusions and surrounding gneiss, with boulder samples returning up to 3,656 ppm U3O8. Associated critical metals were noted, including molybdenum (up to 5,250 ppm), cobalt (up to 333 ppm), and copper (up to 1,800 ppm).

Mineralization was found 1 to 1.5 km southeast of historic drill holes, providing new targets for follow-up exploration. QA/QC procedures were followed with certified standards inserted and no issues noted. Results are preliminary and do not constitute a mineral resource estimate.

District Metals Corp. (DMX) released an exploration update that aligns with its 2026 work program, which includes field mapping and geochemical sampling across multiple properties. The results are incremental and validate the district-scale potential of the Alum Shale and associated uranium systems in Sweden.

The release does not introduce a new resource estimate, drill result, or financing event, meaning it does not immediately alter the company's valuation or cash flow projections. It aligns with previous exploration updates from Nianfors on Oct 26 and Viken drilling on Oct 13, demonstrating consistent execution of the exploration strategy. The impact on the stock price is expected to be limited, as the market has already priced in the long-term optionality of these Swedish assets following the PEA and regulatory changes.

District Metals Corp. (DMX) is a Canadian exploration company focused on uranium and critical metals in Sweden's Bergslagen mining district. The company’s flagship project is the Viken Energy Metals Deposit, which hosts the world's largest undeveloped uranium resource estimate, along with significant vanadium, potash, molybdenum, nickel, copper, and zinc resources.

A Preliminary Economic Assessment (PEA) filed in July 2026 outlines a 13-year open-pit mine with an after-tax NPV of US$2.88 billion, an IRR of 45.9%, and negative cash costs for uranium due to by-product credits. The company operates a district-scale exploration strategy using MobileMT geophysics and geochemical sampling across its 151,328-hectare Alum Shale Properties and other uranium licenses.

The Swedish Parliament repealed the uranium mining moratorium effective January 1, 2026, enabling exploration and mining activities.