District Confirms the Viken Energy Metals Deposit and Identifies High Potential Targets Elsewhere on the Viken Property in Sweden with Airborne MobileMT Survey Results

Core Insights - District Metals Corp. has confirmed the Viken Energy Metals Deposit and identified additional high-potential targets through a successful airborne MobileMT survey in Sweden [1][2]. Group 1: Survey Results - The MobileMT survey identified large-scale low resistivity anomalies correlating with the Viken Deposit, confirming its significance [2]. - Additional target areas (A to I) outside the Viken Deposit were uncovered, with areas A, B, and C showing stronger low resistivity responses than the Viken Deposit [2][4]. - The survey covered approximately 2,350 line kilometers at 200-meter spacing, completed in two phases, effectively mapping the mineralized Alum Shale [4][6]. Group 2: Resource Estimates - The Viken Deposit contains the largest undeveloped mineral resource estimate of uranium globally, along with significant estimates of vanadium, molybdenum, nickel, copper, and zinc [3][15]. - The mineralized Alum Shale is rich in graphite and sulphides, making it easily detectable and crucial for economic mining outcomes [4][6]. Group 3: Future Plans - The company is evaluating locations for a Preliminary Economic Assessment, contingent on the anticipated lifting of the uranium moratorium in Sweden by January 1, 2026 [7][8]. - The MobileMT survey results will be leveraged to prioritize exploration in areas outside the current mineral resource estimate [8].