District Comments on the Swedish Parliament's Decision to Lift the Uranium Moratorium

Core Points - The Swedish Parliament has voted to repeal the moratorium on uranium mining and exploration, which was imposed in 2018, with new legislation set to take effect on January 1, 2026 [1][2][3] - This decision represents a significant shift in Sweden's energy and mining policy, aimed at enhancing energy security and supporting nuclear power ambitions while strengthening the supply of critical raw materials [2][3] - Sweden's bedrock contains approximately 27% of Europe's known uranium resources, positioning the country as a key player in the uranium market [2][3] Company Developments - District Metals Corp. has expressed satisfaction with the Swedish government's decision, viewing it as a historic step that will enable the company to unlock vast uranium resources in support of the green energy transition [3][4] - In anticipation of the legislative changes, District Metals updated its mineral resource estimate for the Viken Energy Metals Deposit and conducted airborne geophysical surveys across its uranium polymetallic properties in Sweden [4][8] - The company plans to advance exploration programs at its uranium properties in 2026, which will include fieldwork, additional airborne geophysics, drilling, and an economic study of the Viken Deposit [4][10] Legislative Changes - The moratorium on uranium mining permits has been lifted, and uranium will now be classified as a "concession mineral" under the Minerals Act, aligning it with other extractable minerals [8] - The Environmental Code's prohibitions on uranium-related mining and processing will be repealed or amended, allowing for exploration and extraction licenses to be applied for under prescribed conditions [8] - Regulatory safeguards will remain in place, including oversight from the Swedish Radiation Safety Authority and environmental impact assessments consistent with Sweden's high standards [8]