PEA on the Viken deposit

In this company update, Garrett Ainsworth, President and CEO of District Metals (TSX-V: DMX | OTCQX: DMXCF), outlines the company's aggressive 2026 exploration and development plans in Sweden.

Following the official lifting of the uranium exploration and mining moratorium on January 1, 2026, District Metals has transitioned from a "soft start" to full-scale advancement of its world-class portfolio. The company is now focused on the rapid de-risking of its flagship Viken Project and systematic testing of high-priority targets across its extensive Alum Shale and basement-hosted uranium properties.

Key Discussion Points:

• Viken Project Advancement: The flagship project has commenced a Preliminary Economic Assessment (PEA) targeted for completion in Q2 2026. This study is being led by P&E Mining Consultants and Mets Engineering Group to leverage their specialized expertise in Alum Shale metallurgy.
• Economic Impact Study: The company has retained BDO Canada to quantify regional tax revenues and job creation potential. This is a strategic move to secure the "social license" required for long-term project development.
• 2026 Drilling Campaign: A 5,000 to 7,000-meter program is planned, beginning in the northern woodlands and moving south toward Viken. The campaign will test 24 MobileMT conductive anomalies identified during 2025 geophysical surveys.
• District-Scale Strategy: Controlling nearly 150,000 hectares of Alum Shale properties, District plans to move directly into grid drilling if initial "scout" holes confirm thick mineralization, aiming to rapidly define new resources.
• Financial Position: The company enters the year with approximately C$9 million in cash and a 2026 work budget of C$5 to $6 million, remaining well-funded through potential warrant and option exercises.

If you have any follow up questions for Garrett please email me at Fleck@kereport.com. 

Click here to visit the District Metals website to learn more about the Company - https://www.districtmetals.com/

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