District Metals (DMXCF) Stock News

District Metals Corp. has announced significant developments regarding uranium mining in Sweden. The Swedish Ministry of Climate and Enterprise has submitted a referral to lift the prohibition on uranium mining permits and designate uranium as a concession mineral under the Minerals Act. The proposed legislative changes, expected to be presented to Parliament in Q3/Q4 2025 and implemented by January 2026, would allow uranium extraction and detailed bedrock investigations in Sweden. This development aligns with District's preparations, including their recent update of the Viken Energy Metals Deposit mineral resource estimate and the commencement of an airborne MobileMT survey at the Viken Property.

District Metals Corp. has filed an NI 43-101 Technical Report for its 100%-owned Viken Energy Metals Property in Sweden, detailing an updated Mineral Resource Estimate (MRE). The report, prepared by P&E Mining Consultants Inc., reveals significant mineral resources including uranium, vanadium, molybdenum, nickel, copper, and zinc. The Indicated Resource contains 456M tonnes with 175 ppm U3O8, while the Inferred Resource comprises 4,333M tonnes with 161 ppm U3O8. The property also shows exploration potential with targets ranging from 980 Mt to 1,040 Mt. The MRE was calculated using consensus metal prices including $72/lb U3O8 and $5/lb V2O5, with processing recoveries ranging from 50% to 80% for different metals.

District Metals Corp. has signed a definitive purchase agreement to sell its remaining 25% ownership stake in the Bakar Property, a high-grade copper-silver project located on northern Vancouver Island, British Columbia, to Sherpa II Holdings Corp. The transaction involves Sherpa II issuing 1.5 million shares to District Metals. The deal allows District to focus on its Swedish uranium and base metal polymetallic properties while maintaining potential upside through its equity position in Sherpa II. The transaction's closing is subject to TSX Venture Exchange approval and other customary conditions.

District Metals Corp. has engaged Expert Geophysics Surveys Inc. to conduct a helicopter-borne MobileMT survey at the Viken Property in central Sweden. The survey will cover 1,387 to 2,346 line kilometers at 200 or 400 meter spacing in two phases. Phase 1 focuses on capturing the conductive signature of the mineralized Alum Shale host rock at the Viken Energy Metals Deposit, while Phase 2 will explore the remaining 37,211 hectare property for additional conductive signatures. The MobileMT system, introduced in 2018, utilizes global thunderstorm activity to detect subsurface electrical resistivity variations. The survey aims to identify shallow and thick areas of mineralized Alum Shale containing uranium, vanadium, potash, molybdenum, nickel, zinc, copper, and rare earth elements.

District Metals Corp. (DMXCF) has released its Q3 2025 financial results for the period ended March 31, 2025. The company reported a cash position of $4.204 million, which includes $0.554 million advanced from Boliden Mineral AB that is restricted from general use. On May 21, 2025, District completed a non-brokered private placement, raising $6 million through the issuance of 22,222,221 common shares at $0.27 per share, with a finder's fee of $299,999.

The company recently completed an updated NI 43-101 mineral resource estimate for the Viken Energy Metals Deposit and is preparing for mineral exploration activities on its Swedish uranium polymetallic properties in the coming 4-6 months. The next earnings report is scheduled for September 25, 2025.

District Metals (DMXCF) has announced a private placement financing to raise up to C$6 million through two offerings. The first is a C$5 million Listed Issuer Financing Exemption (LIFE) offering of up to 18,518,518 common shares at C$0.27 per share, with no hold period. The second is a C$1 million non-brokered private placement (NBPP) of up to 3,703,703 shares at the same price, subject to a four-month hold period.

The proceeds will fund exploration activities on the company's projects in Sweden and general corporate purposes. The offering is expected to close around May 21, 2025, subject to regulatory approvals. Pareto Securities AB may receive a finder's fee for introducing potential investors.

District Metals announces a major milestone with its Viken Energy Metals Deposit in Sweden, confirming it as the world's second-largest uranium deposit. The new NI 43-101 compliant resource estimate reveals 4.3 billion tonnes of inferred resources at 161 ppm U3O8, containing 1.5 billion pounds of uranium oxide.

The deposit also holds significant amounts of critical raw materials essential for the green energy transition, including vanadium oxide, molybdenum, nickel, copper, and zinc. The indicated resource stands at 456 million tonnes with 175 ppm U3O8.

CEO Garrett Ainsworth highlights the deposit's strategic importance for Sweden, Europe, and global clean energy initiatives. The company plans to focus on smaller-scale mining operations to optimize economics and maintain social license. A decision on a Preliminary Economic Assessment is expected in Q4 2025, pending the Swedish Government's proposal to lift the current uranium mining ban.

District Metals Corp. (DMXCF) has provided an update on its drilling program at the Tomtebo Property in Sweden's Bergslagen Mining District. The company has completed 1,712.5m of drilling across three holes at the Steffenburgs zone, with drilling now moved to the previously untested Kvistaberget target located 5km northeast of the historic Tomtebo Mine.

Key findings include:

• Drill hole TOM22-038 intersected 18.9m of mineralization from 498.7 to 517.6m
• TOM25-044 revealed multiple zones including 26.0m and 46.0m of mineralization
• TOM25-045 showed 7.85m of mineralization with multiple BHEM anomalies

The company plans 700-1,000m of additional drilling at Kvistaberget to test a geophysical SkyTEM conductive anomaly. Under a recent agreement with Boliden, District Metals can earn up to 85% interest in the Tomtebo Property. Assay results are expected in late Q2 2025.

District Metals Corp. (DMXCF) has reported significant drill results from its Fall 2024 program at the Stollberg Property in Sweden's Bergslagen Mining District. The program, conducted in collaboration with Boliden Mineral AB, completed 2,438 meters across five drill holes near the historic Gränsgruvan Mine.

Key intersections include:

• Hole GRAGR-152: 28.00m at 3.68% Zn, 0.70% Pb, 23 g/t Ag
• Hole GRAGR-154: 9.85m at 4.52% Zn, 2.44% Pb, 21 g/t Ag

The drilling program revealed that the mine stratigraphy is tightly folded, with mineralization occurring as massive to semi-massive polymetallic sulphide lenses. Down-hole electromagnetic surveys showed multiple off-hole conductors in all drill holes, suggesting potential sulphide mineralization. The property shows similar characteristics to Boliden's operating Garpenberg Mine, located 50km east.