District Metals cheers proposal to remove mining ban

Executive Summary

• The Swedish government announced its intention to submit a legislative proposal to Parliament in Q4 2025 to lift the current ban on uranium mining, with the new law expected to take effect on 1 Jan 2026.
• Removal of the ban would allow District Metals Corp. to apply for exploration permits and processing concessions for uranium under the Swedish Minerals Act, providing long‑term regulatory certainty for its Viken and Tomtebo projects.
• CEO Garrett Ainsworth highlighted that the policy shift enhances investor confidence and supports continued development of the company’s polymetallic uranium projects.

Key Details

• Legislative Timeline: Proposal to be submitted in Q4 2025; if approved, law becomes effective 1 Jan 2026.
• Scope of Change: Amendments to the Swedish Minerals Act will permit both exploration and extraction of uranium, as well as processing concessions, subject to specific conditions.
• Background: The change follows a government inquiry (concluded Dec 2024) recommending removal of the ban and a Council on Legislation submission in June 2025.
• Company Impact: Provides regulatory clarity for District Metals’ Viken property—home to the world’s largest undeveloped uranium resource—and its Tomtebo project, facilitating permit applications and attracting investment.
• CEO Statement: “The lifting of the uranium ban will create long‑term clarity for us and increase our ability to attract investors… necessary to continue developing our uranium polymetallic projects.”

Notable Quotes

“We are pleased to see that the Swedish government is moving forward with the removal of the uranium ban. It is obvious that the Swedish government's ambition is to create a regulatory framework where uranium is treated in the same fashion as other metals and minerals… If approved, the lifting of the uranium ban will create long‑term clarity for us and increase our ability to attract investors.” – Garrett Ainsworth, President & CEO

All technical information prepared or approved by Garrett Ainsworth, P.Geo., qualified person under NI 43‑101.