District Metals Corp.: A Strong Q2 2025 Performance and Strategic Moves

District Metals Corp. (TSX-V: DMX) (Nasdaq First North: DMXSE SDB) (OTCQB: DMXCF) (FRA: DFPP) has reported its results for the three and six months ended December 31, 2024, showcasing a robust financial and operational performance. The Company's strategic moves, including the acquisition of a 2% NSR Royalty and the approval of an exploration budget, have positioned it for future growth and success.



Financial Highlights
District Metals Corp. had $4.017 million in cash and cash equivalents at December 31, 2024, reflecting its strong financial health and ability to fund ongoing operations and exploration activities. The Company's unaudited condensed interim consolidated financial statements for the three and six months ended December 31, 2024, are available on SEDAR+ (www.sedarplus.ca) and the Company's website.

Operational Updates
The Company commenced an updated mineral resource estimate and related report pursuant to National Instrument 43-101 on the Viken Energy Metals Deposit, which was announced on February 5, 2025. This update will provide a more accurate assessment of the mineral potential of the deposit, enabling the Company to make informed decisions regarding its development and exploration activities.

Mineral exploration work, including core drilling, continues to advance the Tomtebo and Stollberg base metal polymetallic properties, with District as operator. The Company announced a $3 million approved exploration budget for these Properties on February 10, 2025. This budget will support the ongoing exploration activities and help the Company unlock the full potential of these properties.

Strategic Moves
In January 2025, the Company acquired the 2% NSR Royalty over the remaining four mineral covering the Viken deposit licences (Norra Leden, Norr Viken, Lill Viken, and Storviken), resulting in the Viken deposit being free of any NSR Royalty. This acquisition eliminates the royalty burden on the Viken deposit, improving the project's economics and potential profitability. Additionally, it secures the Company's mineral rights and demonstrates its commitment to the Viken project and its potential.

The Company's depositary receipts (the "SDRs") began trading on Nasdaq First North Growth Market at market open (Sweden local time) under the symbol "DMXSE SDB" on January 23, 2025. Swedish depositary receipts are financial instruments issued by a Swedish bank representing shares in a non-Swedish company. The exchange ratio on the SDRs to common shares of the Company is 1 for 1. The Company's common shares continue to be traded on the TSX Venture Exchange under the symbol "DMX".



Conclusion
District Metals Corp.'s strong Q2 2025 performance, coupled with its strategic moves, positions the Company for future growth and success. The Company's cash and cash equivalents position, along with its approved exploration budget, ensures its ability to fund ongoing operations and exploration activities. The acquisition of the 2% NSR Royalty and the commencement of an updated mineral resource estimate further strengthen the Company's position in the mining sector. As the Company continues to execute its strategic plan, investors can expect to see further progress and value creation in the coming months.