District Metals hires Expert for MT survey in Sweden

Mr. Garrett Ainsworth reports District Metals Corp. has entered into a contract with Expert Geophysics Surveys Inc. (EGS) to complete a helicopter-borne mobile magnetotellurics system (MobileMT) survey over additional mineral licences within the company's Alum shale properties in north-central Sweden. The MobileMT survey will comprise approximately 2,253 line kilometres at 400-metre-line spacing and 4,000-metre-spaced tie lines over recent mineral licence applications (see Dec. 17, 2025, news release) that have now all been approved by the Mining Inspectorate and are part of the Alum shale properties. The MobileMT survey is planned to commence in late June or early July, 2026, subject to permitting, contractor availability and weather conditions. Data from the survey will be processed and interpreted following completion and will be integrated with existing geological, geochemical and geophysical data sets. The optimal target for further follow-up work will comprise the shallowest and thickest parts of mineralized Alum shale. The relatively flat-lying Alum shale contains abundant graphite and sulphides that make it a superconductor, which has been previously mapped out in detail by the MobileMT survey. In 2025, the high-resolution MobileMT survey conducted by EGS successfully identified large-scale conductive anomalies that correlate with the Viken energy metals deposit, as confirmed by historic drill holes from 2006 to 2012. The MobileMT survey was confirmed to identify and map out additional mineralized Alum shale targets within the Viken property as strong conductors (see Sept. 24, 2025, news release). The Viken deposit contains the largest undeveloped mineral resource estimate of uranium in the world, along with significant mineral resource estimates of vanadium, potash, molybdenum, nickel, copper, zinc, and other important and critical raw materials, as reported in District's news release from April 29, 2025. Vice-president, project development, departure The company notes that Jeremy Veszi will conclude his role as vice-president, project development, effective Feb. 28, 2026, reflecting a role alignment related to external consulting commitments with another uranium company. The company thanks Mr. Veszi for his contributions during the early-stage evaluation of the Viken project. As part of the company's broader project execution strategy, District will transition from an executive leadership model to a team-based advisory approach and will continue to engage Veszi Professional Consulting Inc. to provide multidisciplinary support across project development initiatives, as required. District remains focused on advancing the Viken project through disciplined technical work programs supported by internal leadership and specialized external advisers. Technical information All scientific and technical information in this news release has been prepared by or approved by Garrett Ainsworth, PGeo, president and chief executive officer of the company. Mr. Ainsworth is a qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects. About District Metals Corp. District Metals is led by industry professionals with a record of success in the mining industry. The company's mandate is to seek out, explore and develop prospective mineral properties through a disciplined science-based approach to create shareholder value and benefit other stakeholders. District is a 2025 TSX Venture 50 company, ranking among the top-performing issuers on the TSX Venture Exchange in the past year. District is a uranium polymetallic exploration and development company focused on its flagship Viken property in Sweden. The Viken property covers 100 per cent of the Viken energy metals deposit, which contains the largest undeveloped mineral resource estimate of uranium in the world, along with significant mineral resource estimates of vanadium, potash, molybdenum, nickel, copper, zinc, and other important and critical raw materials. We seek Safe Harbor.