District Executes Contract for Airborne MobileMT Survey on Alum Shale Properties in Sweden

Core Viewpoint - District Metals Corp. has contracted Expert Geophysics Surveys Inc. to conduct a Mobile MagnetoTellurics System survey over additional mineral licenses in its Alum Shale Properties in Sweden, aiming to identify further mineralized targets [1][2]. Group 1: Survey Details - The MobileMT survey will cover approximately 2,253 line kilometers with a line spacing of 400 meters and tie lines spaced 4,000 meters, focusing on recently approved mineral license applications [2]. - The survey is scheduled to begin in late June or early July 2026, contingent on permitting, contractor availability, and weather conditions [3]. - Data from the survey will be processed and integrated with existing geological, geochemical, and geophysical datasets to optimize target identification [3]. Group 2: Mineral Resource Insights - The survey aims to identify the shallowest and thickest parts of mineralized Alum Shale, which contains significant graphite and sulphides, enhancing its potential as a superconductor [4]. - A previous MobileMT survey in 2025 successfully identified large-scale conductive anomalies correlating with the Viken Energy Metals Deposit, confirming the presence of additional mineralized Alum Shale targets [5]. - The Viken Deposit is noted for containing the largest undeveloped Mineral Resource Estimate of uranium globally, along with substantial estimates of vanadium, potash, molybdenum, nickel, copper, and zinc [6][13]. Group 3: Leadership and Strategic Changes - Mr. Jeremy Veszi will conclude his role as Vice President of Project Development effective February 28, 2026, due to external consulting commitments [8]. - The company will shift from an executive leadership model to a team-based advisory approach while continuing to engage Veszi Professional Consulting Inc. for multidisciplinary support [9]. - The focus remains on advancing the Viken Project through disciplined technical work programs supported by internal leadership and specialized external advisors [9].