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Drill Results

District Announces 2025 Year End Results

By The Northwire Desk — AI Analysis Sep 25, 2025 · 00:30 DMX · 1.19 District Metals Corp.
DMX · Price

Executive Summary

  • District Metals Corp. reported its audited financial and operational results for the year ended June 30 2025, highlighting positive exploration outcomes at Viken, Sågtjärn, and Nianfors properties.
  • The company disclosed a termination notice from Boliden Mineral AB on the earn‑in/joint‑venture agreement for the Tomtebo and Stollberg properties.
  • A definitive share‑exchange transaction was entered into to sell District’s remaining 24.48 % interest in the Bakar Property to Sherpa II for 1,500,000 common shares, pending closing conditions.

Key Details

  • Cash Position: $9.740 million in cash and cash equivalents at June 30 2025, including a $0.221 million advance from Boliden Mineral AB (not available for general use).
  • Exploration Results:
  • Positive Mobile Magnetotelluric (“MobileMT”) survey results at the Viken Property (announced 24 Sep 2025) to prioritize targets beyond the 2025 Viken Deposit resource estimate.
  • UAV radiometric and magnetic surveys completed at the Sågtjärn and Nianfors Properties, leading to submission of mineral license applications to expand those licence areas.
  • Termination Notice: On 25 Aug 2025 Boliden Mineral AB gave notice to terminate the earn‑in and joint‑venture agreement covering the Tomtebo and Stollberg base‑metal polymetallic properties in Sweden.
  • Share Transaction – Bakar Property:
  • Date of agreement: 3 Jun 2025.
  • District will transfer its remaining 24.48 % interest to Sherpa II in exchange for 1,500,000 Sherpa II common shares.
  • Closing subject to customary conditions, including TSX Venture Exchange approval.
  • Future Reporting: The company will release its Q3‑2025 results (three months ended 30 Sep 2025) on 28 Nov 2025.
  • Financial Statements Availability: Audited consolidated financial statements for FY 2025 are posted on SEDAR+ and the Company’s website.

Notable Quotes

“Our positive exploration results and strategic transaction activity underscore District Metals’ commitment to advancing our high‑potential Swedish assets while maintaining a strong balance sheet,” – Garrett Ainsworth, President & CEO.

Read the original news release →

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Drill Results Jun 15, 2026 · 11:17

District Metals’ Viken project clears a regulatory hurdle after the Swedish Parliament scrapped the municipal veto on uranium exploration.

Regulatory