District Comments On SGU Proposal To Designate Aura Energy's Haggan Deposit As A Deposit Of National Interest

(MENAFN- Newsfile Corp) District Comments on SGU Proposal to Designate Aura Energy's Haggan Deposit as a Deposit of National Interest

April 24, 2026 1:00 AM EDT | Source: District Metals Corp.

Vancouver, British Columbia--(Newsfile Corp. - April 24, 2026) - District Metals Corp. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQX: DMXCF) (FSE: DFPP); (" District " or the " Company ") welcomes the proposal by the Geological Survey of Sweden (SGU) to designate the Häggån Alum Shale Deposit, held by Aura Energy Ltd., as a deposit of national interest (Riksintresse) for valuable substances or raw materials. The Häggån Deposit is located within the Berg and Åre Municipalities and is adjacent west of District's Viken Alum Shale Deposit (Figure 1), which is currently under review by the SGU as a deposit of potential national interest.

The SGU's proposal is based on a comprehensive evaluation framework requiring that all three criteria for national interest designation be met:

the presence of substances of significant importance to society's needs or long-term security of supply;

materials with particularly valuable properties; and

a deposit that is well investigated and documented. The evaluation also considers a long-term perspective exceeding 50 years.

According to the SGU's assessment, the Häggån Deposit satisfies these criteria through its substantial and well-documented polymetallic resource base, which includes vanadium, uranium, nickel, molybdenum, zinc, and other critical raw materials. These metals are increasingly vital for Europe's energy transition, electrification, and industrial resilience, and are expected to remain strategically important over the coming decades.

Garrett Ainsworth, CEO of District, commented: "We view the SGU's proposal as a strong endorsement of the regional geological potential and the long-term strategic importance of Alum Shale polymetallic mineralized systems in the County of Jämtland. The recognition of the Häggån Deposit as a potential deposit of national interest highlights the importance of securing sustainable, domestic sources of critical metals within Sweden and the European Union."

The proposed designation of national interest aims to ensure that land-use planning decisions appropriately consider the presence of strategically important mineral resources and also protects it for potential future extraction. District believes that such recognition provides a balanced framework to safeguard future mineral resource development opportunities while respecting environmental and other societal considerations.

District Metals continues to advance its portfolio of projects in Sweden with a focus on responsible exploration and development of uranium properties that includes the Viken Property and Alum Shale Properties. The Company emphasizes its commitment to adhering to Sweden's high environmental standards and continuing constructive dialogue with landowners, municipalities, and relevant stakeholders.

The Company will follow the progression of the SGU's proposal through the consultation process and remains committed to contributing constructively to discussions regarding sustainable mineral resource development in Sweden.

More information on national interest status can be found here:

Figure 1: Plan View of Viken Property with Häggån Deposit Adjacent West

To view an enhanced version of this graphic, please visit:

Technical Information

All scientific and technical information in this news release has been prepared by, or approved by Garrett Ainsworth, P.Geo, President and CEO of the Company. Mr. Ainsworth is a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects (" NI 43-101 ").

Mr. Ainsworth has not verified any of the information regarding any of the properties or projects referred to herein other than the Viken Property. Mineralization on any other property referred to herein is not necessarily indicative of mineralization on the Viken Property.

About District Metals Corp.

District Metals Corp. is led by industry professionals with a track 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% of the Viken Energy Metals Deposit, which contains the largest undeveloped Mineral Resource Estimate of uranium in the worldⁱ along with significant Mineral Resource Estimates of vanadium, molybdenum, nickel, copper, zinc, and other important and critical raw materials.

For further information on the Viken Property, please see the technical report entitled "NI 43-101 Updated Mineral Resource Estimate and Technical Report on the Viken Energy Metals Project, Jämtland County, Sweden" dated effective April 25, 2025, which is available on SEDAR+ at .

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