District Identifies Large and Robust Targets from Airborne MobileMT Survey at Malgomaj Alum Shale Property in Sweden

Core Insights - District Metals Corp. has reported positive results from the airborne Mobile Magnetotelluric (MobileMT) survey at its Malgomaj mineral licenses in Sweden, indicating significant geophysical anomalies that may represent mineralized Alum Shales [1][5][11] Summary by Sections Survey Results - The MobileMT survey covered approximately 37,132 hectares and identified six low resistivity (highly conductive) anomalies, which are consistent with the signature observed at the Viken Deposit [5][11] - Target A measures 20.4 km long by up to 5.4 km wide, while Target B is 17.7 km long by up to 4.1 km wide, both interpreted to be Alum Shale [9] Strategic Developments - Based on the survey results, the company has applied for a new mineral license adjacent to the existing Malgomaj mineral license to cover potential extensions of the MobileMT anomaly [2] - The Malgomaj property, along with the Österkälen and Tåsjö licenses, forms part of the company's Alum Shale Properties, covering approximately 79,250 hectares [3] Technical Confidence - The clarity of the newly defined MobileMT conductive anomalies, combined with their favorable structural context, provides a high level of technical confidence for the presence of thick, mineralized Alum Shales [11] - The results represent a significant advancement in the company's strategy to delineate drill-ready targets in an underexplored region rich in various critical raw materials [5][11] Regulatory Context - The Swedish Government has approved the proposal to lift the ban on uranium exploration and mining, with legislation expected to be revised on January 1, 2026, which may enhance the exploration potential for the company [12]