District Metals Corp. reports developments tied to uranium and polymetallic mineral exploration in Sweden, with emphasis on its flagship Viken Property and broader Alum Shale property portfolio. Company updates commonly address exploration planning, technical studies, mineral-license activity, and Swedish regulatory matters affecting uranium and Alum Shale development.
Recurring news also covers quarterly financial results, shareholder meeting outcomes, governance changes, project-development appointments, and communications related to stakeholders, municipalities, and land-use planning. The company describes Viken as hosting the Viken Energy Metals Deposit, with uranium and additional critical raw materials including vanadium, molybdenum, nickel, copper, and zinc.
District Metals (DMXCF) will hold its annual general meeting of shareholders on December 9, 2026, in Vancouver, British Columbia.
The meeting starts at 10:00 a.m. PCT at Suite 1303, 1030 West Georgia Street. Shareholders will consider setting the board at four directors, electing directors, appointing Davidson & Company as auditor, and ratifying the 10% rolling omnibus incentive plan. The agenda also includes receiving financial statements and accompanying management discussion for the year ended June 30, 2026. Shareholders of record as of October 20, 2026 are eligible to participate.
District Metals (DMXCF) reported a cumulative 198.3 m of Alum Shale in drill hole VIK-26-005 at its Viken Property in Sweden. Four completed holes at Target A encountered Alum Shale. VIK-26-004 intersected a cumulative 177.1 m, while VIK-26-002 intersected 82.0 m. VIK-26-003 included a 48.50 m interval from 76.60 to 125.10 m down-hole.
District views the results as supporting its 2025 MobileMT airborne geophysical survey's ability to identify Alum Shale outside the Viken Deposit. The company plans to continue drilling across Target Areas A and B, combining drill data with geophysical interpretations to assess distribution and continuity. Geochemical results are required to determine the presence, grade and continuity of mineralized horizons; visual core logging and radioactivity alone do not establish mineralization.
District Metals (DMXCF) completed reconnaissance mapping and geochemical sampling at its wholly owned Sågtjärn uranium property in Sweden, identifying additional exploration targets. The program recorded 163 field stations and collected 32 rock samples from outcrops and boulders.
Pegmatite-associated uranium mineralization was identified over approximately 2 km of strike length, extending beyond historic drilling. Boulder samples returned up to 1,179 ppm U3O8 in pegmatite-associated mineralization and 3,656 ppm U3O8 in surrounding gneiss. U3O8 is a uranium oxide; ppm means parts per million. Samples also contained molybdenum, cobalt and copper. Uranium-bearing boulders were found approximately 1 to 1.5 km southeast of historic drilling at Hammarmyran and Staverberget.
District sees potential for extensions beyond previously explored areas. The Sågtjärn deposit estimate remains historical, not a current mineral resource.
District Metals (DMXCF) reported uranium sampling results from its summer 2026 reconnaissance program at the wholly owned Nianfors Property in Sweden. The program recorded observations at 111 field stations and collected 34 rock samples from boulders and exposed bedrock. Samples returned 4–937 parts per million (ppm) uranium oxide, 7–667 ppm yttrium oxide and less than 1–509 ppm molybdenum.
The highest uranium values came from the Majsaberget occurrence, where historical work identified 889 mineralized boulders across approximately 500 m by 200 m. Majsaberget has never been drill tested. District plans to combine the geochemical results with geological mapping and radiation measurements to refine exploration areas and potential drill targets. The program followed up uranium-related anomalies identified by the property's 2025 drone-based radiometric and magnetic survey.
District Metals (DMXCF) intersected 154.8 meters of Alum Shale in its first completed drill hole at Target A on Sweden's Viken Property. Hole VIK-26-001 encountered the interval from 43.7 to 198.5 meters downhole and reached a total depth of 299.50 meters. Visual logging identified graphitic black shale; handheld radioactivity readings ranged from 240 to 625 counts per second.
District views the intersection as initial validation of its 2025 MobileMT geophysical survey for identifying prospective Alum Shale outside the Viken Deposit. The company plans to continue drilling across Target Areas A and B, combining drill data with geophysical interpretations. Geochemical results are required to determine the presence, grade and continuity of mineralized horizons; visual logging and radioactivity alone do not establish mineralization.
District Metals (DMXCF) has commenced diamond drilling at its Viken Property in central Sweden, focusing on two exploration targets.
Arctic DS AB has resumed core drilling at Target Areas A and B, conductive anomalies identified by the 2025 airborne MobileMT survey. They lie approximately 1.7 km and 7.5 km, respectively, north to northwest of the Viken Energy Metals Deposit. Their conductive responses are larger and stronger than the deposit's signature. Both areas remain largely untested; historical drilling in 2008 was primarily peripheral and intersected mineralized alum shale.
District aims to test whether the anomalies are associated with uranium and other energy metals mineralization. Hole counts and total meters will depend on geological observations and uranium-related radiation measurements. The approved 2026 exploration budget covers approximately 5,000 to 7,000 meters across Viken and the Alum Shale Properties.
District Metals (DMXCF) reported C$16.187 million in cash and cash equivalents at its June 30, 2026 fiscal year-end. The company closed a non-brokered private placement on May 12, 2026, raising C$10 million in gross proceeds under the Listed Issuer Financing Exemption. Its audited consolidated financial statements for the year are available on SEDAR+ and the company's website.
District also filed a technical report on July 17, 2026 covering a preliminary economic assessment of its Viken deposit in Sweden. The assessment outlined an after-tax net present value discounted at 8% of US$2.88 billion, an internal rate of return of 45.9%, and a 2.1-year payback period. Its estimates include US$876 million in initial capital costs and average after-tax free cash flow of US$531 million a year over 13 years of mine production.
District Metals (DMXCF) completed its first diamond drilling program at the Österkälen and Malgomaj mineral licenses in Sweden, drilling 1,943 m in 15 holes that all intersected graphitic black shale interpreted as Alum Shale on its 100%-owned Alum Shale Properties.
The holes targeted conductive anomalies from a 2025 MobileMT survey that coincide with soil geochemical anomalies, supporting the method’s effectiveness for mapping graphitic Alum Shale. Interpreted Alum Shale composite down-hole thickness ranges from approximately 50.5–65.0 m at Österkälen, 87.5–141.0 m in Malgomaj nr 1003, and 79.0–86.5 m in Malgomaj nr 1002. Three additional holes at Malgomaj were abandoned due to unconsolidated, weathered black shale causing 100% core loss. Shale intervals show background to weak radioactivity; assays are pending. District also highlights a June 2026 PEA for its Viken Deposit outlining an after-tax NPV8% of US$2.88 billion, IRR of 45.9%, initial capex of US$876 million, and average after-tax free cash flow of US$531 million per year over a 13-year mine life.
District Metals (OTCQX: DMXCF) reported results of an independent Economic Impact Study by BDO Canada for the Phase 1 mine plan at its Viken Energy Metals Deposit in Jämtland County, Sweden. The study, based on the June 26, 2026 Preliminary Economic Assessment, estimates a cumulative total economic contribution of US$7.66 billion (74.33 billion SEK) over a conceptual 13-year operation, of which US$7.63 billion (73.99 billion SEK) is expected to accrue to Sweden.
The EIS forecasts US$1.58 billion in direct corporate income taxes, US$199.6 million in direct and indirect employment income taxes, and US$1.48 billion in capital investment and operating spend contribution. It also estimates about 1,065 direct and indirect full-time jobs and a State Mineral Fee of US$21.9 million for landowners and US$7.3 million for the Swedish State. District highlights that these impacts reflect only the initial Phase 1 scenario. The related PEA shows an after-tax NPV8% of US$2.88 billion, 45.9% IRR, 2.1-year payback, and initial capital cost of US$876 million with average annual after-tax free cash flow of US$531 million.
District Metals (OTCQX: DMXCF) has filed an independent NI 43‑101 compliant PEA technical report for its Viken Energy Metals Project in Jämtland County, Sweden, dated July 17, 2026 with an effective date of June 26, 2026. The PEA, prepared by P&E Mining Consultant and METS Engineering, outlines an after‑tax NPV(8%) of US$2.88 billion, initial CAPEX of US$876 million, after‑tax IRR of 45.9%, average annual after‑tax free cash flow of US$531 million, and a payback period of 2.1 years over a 13‑year life of mine.
The study assumes average annual production of 3.3 million lbs U3O8, 16 million lbs V2O5, 37 million L vanadium electrolyte, 6 million kg ferrovanadium, and 250,000 t sulphate of potash, with a net operating cost of (‑)US$121/lb U3O8 after by‑product credits. District clarifies that the mine plan feed comprises approximately 77% Indicated and 23% Inferred Mineral Resources and emphasizes that the PEA is preliminary, includes Inferred Resources that are too speculative to qualify as Reserves, and that there is no certainty the assessment will be realized.