District Metals Corp. (TSX-V: DMX) (Nasdaq First North: DMXSE SDB) (OTCQB: DMXCF) (FSE: DFPP) is pleased to report on drill assay results for five drill holes (extension TOM-22-038, TOM-25-044, TOM-25-045, KVI-25-001 and KVI-25-002) completed during the February to April 2025 drill program at the base metal polymetallic Tomtebo Property located in the Bergslagen Mining District in south-central Sweden.

A total of 2,485 m were drilled in five holes at the Steffenburgs zone within the historic Tomtebo Mine area and at Kvistaberget, which is a prospective target located 5 km northeast of the historic Tomtebo Mine area within the Tomtebo Property. This drill program was carried out from early February to late April 2025 as part of the collaboration with Boliden Mineral AB.

The main objective of this drilling phase was to systematically test the broader Steffenburgs zone and its prospective polymetallic mineralized horizon with aggressive step outs of 150 m at depth in order to identify high-grade sea floor massive sulphide lenses in several directions. The Kvistaberget target was identified by a SkyTEM geophysical conductive anomaly associated with historic sulphide workings where rock sampling returned strong grades of copper and zinc.

Property-wide geological mapping and geochemical sampling provided evidence that the “Volcanic Massive Sulphide mineralized horizon” at the historic Tomtebo Mine area extends into the Kvistaberget target area that has never been previously drill tested. A drilling update with detailed information was presented in the news release on April 24, 2025.

Highlights:

• Drill hole TOM-25-044 intersected multiple zones of stringer style chalcopyrite (copper and gold) mineralization including:
  • 0.40 m at 4.3% Cu, 34 g/t Ag, 0.66 g/t Au (45.70 to 46.10 m)
  • 1.35 m at 1.2% Cu, 8 g/t Ag, 1.21 g/t Au (53.70 to 55.05 m)
  • 4.10 m at 1.7% Cu, 11 g/t Ag, 0.76 g/t Au (58.50 to 62.60 m)
  • 1.20 m at 0.5% Cu, 8 g/t Ag, 4.48 g/t Au (138.40 to 139.60 m)

• Drill hole TOM-25-044 intersected 13.0 m at 36 g/t Ag, 2.0% Zn and 0.8% Pb, (561.0 to 574.0 m) including:
  • 5.0 m at 65 g/t Ag, 3.1% Zn and 1.3% Pb (569.0 to 574.0 m)
• Drill hole TOM-25-045 intersected multiple zones of strongly altered and mineralized footwall rocks including disseminated sphalerite-galena-pyrrhotite-pyrite (zinc, lead, silver) with abundant gahnite (zinc) mineralization which is currently interpreted as the prospective “VMS mineralized horizon” including:
  • 7.85 m at 88 g/t Ag, 3.0% Zn and 1.9% Pb (680.40 to 688.25 m)
• Down-hole electromagnetic results show multiple off-hole conductors: all drill holes were followed up by Boliden’s in-house, state of the art, down-hole, three component electromagnetic (DHEM) survey¹, and all holes within the broader Steffenburgs zone showed both in-hole and off-hole EM conductors that likely represent sulphide mineralization.

Drill hole plan maps are shown in Figures 1 and 2 and drill assay results are shown in Table 1.

Garrett Ainsworth, CEO of District, commented: “These latest drill results from the Tomtebo Property, particularly the intersection of 7.85 meters at 88 g/t silver, 3.0% zinc, and 1.9% lead in hole TOM-25-045, show that extensive polymetallic mineralization at the Steffenburgs zone continues at depth with aggressive step outs that remain open. These grades and thicknesses of base metal polymetallic mineralization encountered at the Steffenburgs zone are consistent with the presence of VMS mineralized systems, which are characteristic of the prolific Bergslagen Mining District.

Importantly, the integration of down-hole EM surveys has revealed multiple off-hole conductors, providing us with highly compelling targets for follow-up drilling. These findings validate our geological model and exploration strategy.

In September 2025, we aim to commence drilling at the historic Lövås Mine located at the northeast end of the Tomtebo Property. The Lövås Mine shows substantial base metal polymetallic mineralization that is wide open below the mine workings at a depth of 190 m, and the most recent drilling at the Lövås Mine was in the 1950’s.”

All of the holes recently drilled at the Tomtebo Property have been systematically sampled for whole rock lithogeochemistry. Interpretation of these results should help with the understanding of the geological setting, alteration signature and guide exploration in defining new targets.

The Kvistaberget drilling did not intersect significant mineralization, except weakly disseminated chalcopyrite (copper) mineralization in KVI-25-002 with 2.85m at 0.2% Cu between 239.65 m and 242.50 m. The SkyTEM anomaly tested in KVI-25-001 could not be explained nor could the BHEM identify any off-hole conductive signature supporting further investigation.

Drilling at the historic Lövås Mine, located in the northeastern part of the Tomtebo Property, will commence in September 2025 followed by additional drilling at the Stollberg Property in Q4 2025.

Figure 1: Plan Map (-350m level) of 2025 Drilling at the Historic Tomtebo Mine

 Figure 2: Plan Map of 2025 Drilling at Kvistaberget Target

Table 1: Tomtebo and Kvistaberget 2025 Drill Assay Results

Notes:

• All intervals are core lengths, and true thicknesses are yet to be determined. Mineral resource modeling is required before true thicknesses can be estimated.

References

¹ Allen, Rodney L., Jonsson, Rolf H. 2014. Boliden’s Garpenberg Zn-Pb-Ag mine, Sweden – Critical factors behind the discoveries that turned mine closure into a large expansion project. SEG Conference Abstract

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.

The drill core reported in this news release was logged and prepared at the District Metals AB core facility in Säter, Sweden before submittal to Palsatech Oy in Sala, Sweden where the NQ-size drill core is cut and bagged. The samples were prepared for analysis at ALS Geochemistry in Piteå, Sweden (“PREP-31Y”). Sample pulps were sent to ALS Geochemistry in Ireland (an accredited mineral analysis laboratory) for analysis. Samples were analyzed using a multi-element ultra trace method combining a four-acid digestion with ICP-MS analytical package (“ME-MS61”). Over limit sample values were re-assayed for: (1) values of copper >1%; (2) values of zinc >1%; (3) values of lead >1%; and (4) values of silver >100 g/t using the high-grade material ICP-AES analytical package (“ME-OG62”). Gold, platinum, and palladium were analyzed using the 30 g lead fire assay with ICP-AES finish analytical package (“PGM-ICP23”). Samples values zinc >1% for the historic Tomtebo Mine area were re-assayed for zinc using an aqua regia digestion with analytical package (“ME-OG46”) to determine and test the gahnite vs sphalerite content. Certified standards, blanks, and duplicates were inserted into the sample shipment to ensure integrity of the assay process. Selected samples were chosen for duplicate assay from the coarse reject and pulps of the original sample. No QA/QC issues were noted with the results reported.

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 polymetallic exploration and development company focused on the Viken and Tomtebo Properties 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 titled “Updated Mineral Resource Estimate and Technical Report on the Viken Energy Metals Project, Jämtland County, Sweden” dated effective April 25, 2025, which is available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

The advanced exploration stage Tomtebo Property is located in the Bergslagen Mining District of south-central Sweden and is situated between the historical Falun Mine and Boliden’s Garpenberg Mine that are located 25 km to the northwest and southeast, respectively. Two historic polymetallic mines and numerous polymetallic showings are located on the Tomtebo Property along an approximate 17 km trend that exhibits similar geology, structure, alteration and VMS/SedEx style mineralization as other significant mines within the district.

For further information on the Tomtebo Property, please see the technical report titled “NI 43-101 Update Technical Report on the Tomtebo Project, Bergslagen Region of Sweden” dated effective October 15, 2020 and amended and restated on February 26, 2021, which is available under the Company’s profile on SEDAR+ at www.sedarplus.ca.