District Metals talks mining policy change in Sweden

Executive Summary

• District Metals Corp. announces that the Swedish Parliament has voted to lift the 2018 moratorium on uranium mining and exploration, with new legislation permitting such activities set to take effect on January 1, 2026.
• The legislative changes reclassify uranium as a concession mineral under the Minerals Act and amend the Environmental Code to allow for exploration and extraction licenses, subject to existing safety and environmental safeguards.
• District Metals highlights its Viken Energy Metals deposit, noting an updated mineral resource estimate from April 29, 2025, and outlines future exploration plans for 2026 including fieldwork, geophysics, drilling, and an economic study.

Key Details

• Legislative Change: The Swedish Parliament repealed the uranium moratorium imposed in 2018.
• Effective Date: New legislation permitting uranium exploration and mining comes into effect on January 1, 2026.
• Regulatory Shift: Uranium is now classified as a concession mineral under the Minerals Act, aligning it with other extractable minerals.
• Environmental Code: The section prohibiting uranium-related mining and processing is repealed or amended to allow applications for exploration and extraction licenses.
• Safeguards: Oversight remains under the Swedish Radiation Safety Authority, and environmental impact assessments consistent with Sweden's high-standard permitting regime will continue.
• Company Context: District Metals holds 100% of the Viken Energy Metals deposit, described as containing the largest undeveloped mineral resource estimate of uranium in the world, along with significant resources of vanadium, molybdenum, nickel, copper, and zinc.
• Recent Activity: The company updated the Viken Energy Metals deposit mineral resource estimate on April 29, 2025, and completed airborne geophysical surveys across its uranium polymetallic properties in Sweden.
• Future Plans: Anticipated 2026 activities include fieldwork, additional airborne geophysics, drilling, and an economic study of the Viken deposit.

Notable Quotes

• "The Swedish government's consistent and thorough approach to lifting the uranium moratorium has now culminated in today's historic vote by the Swedish Parliament to repeal the ban on uranium exploration and mining. The legislative changes enabling uranium exploration and extraction are scheduled to take effect on Jan. 1, 2026. We are very pleased with this decisive step, which positions Sweden to unlock its vast uranium resources in support of the green energy transition amid growing global geopolitical uncertainty." — Garrett Ainsworth, CEO
• "In anticipation of this decision, District Metals updated the Viken Energy Metals deposit mineral resource estimate on April 29, 2025, and completed airborne geophysical surveys across our uranium polymetallic properties in Sweden." — Garrett Ainsworth, CEO
• "Looking ahead to 2026, we are now eager to further advance exploration programs at our uranium properties in Sweden that we anticipate will include fieldwork, additional airborne geophysics, drilling and an economic study of the Viken deposit." — Garrett Ainsworth, CEO