District Metals applies for Alum shale mineral licences

Executive Summary

• District Metals Corp. (via its Swedish subsidiary Bergslagen Metals) has applied for 11 new mineral licenses covering 72,078 hectares, nearly doubling the size of its existing Alum shale properties from 79,250 to 151,328 hectares.
• The new applications target high-priority airborne geophysical MobileMT anomalies identified along the boundaries of existing licenses (Osterkalen, Tasjo, and Malgomaj) and areas selected from a comprehensive technical study.
• This expansion strengthens the company's land position in Sweden, a jurisdiction recently approved for uranium exploration and mining, targeting critical energy metals within the Alum shale deposits.

Key Details

• License Application Scope: 11 new mineral licenses covering a total area of 72,078 hectares.
• Total Property Size: The Alum shale properties will expand from 79,250 hectares to 151,328 hectares.
• Targeted Anomalies: Applications were submitted to secure high-priority airborne geophysical MobileMT anomalies along the boundaries of:
  • Osterkalen No. 102
  • Tasjo No. 110 to No. 113
  • Malgomaj No. 1004
• New License Names: The specific new applications include:
  • Tasjo No. 109
  • Hallviken No. 1 and No. 2
  • Forsasen No. 1 and No. 2
• Selection Criteria: Areas were selected based on favorable geology, geochemistry, and geophysics for mineralized Alum shales, adjacent to promising geophysical anomalies.
• Regulatory Context: The Swedish government approved lifting the ban on uranium exploration and mining on Nov. 5, 2025, with associated legislation expected to be enacted on Jan. 1, 2026.
• Asset Profile: The Alum shale deposits host the Viken energy metals deposit, which contains the world's largest undeveloped uranium mineral resource estimate, along with significant resources of vanadium, molybdenum, nickel, copper, and zinc.
• Decision Timeline: Bergsstaten (Mining Inspectorate of Sweden) is expected to reach a decision on the applications in the coming weeks.

Notable Quotes

• "Nearly doubling the size of our mineral licence area that makes up our Alum shale properties represents a significant step forward for District in building a robust pipeline of highly prospective energy metals properties in Sweden." — Garrett Ainsworth, CEO
• "Importantly, this work was carried out with a strong focus on responsible exploration, deliberately avoiding environmentally sensitive areas. This strategic expansion of our existing Alum shale properties significantly enhances our exploration optionality, strengthens the continuity of our land position and enables District to systematically advance the largely underexplored Alum shale properties toward its full multicommodity potential over the long term." — Garrett Ainsworth, CEO