District Metals Corp. announces that it has commenced diamond drilling on the Österkälen Mineral License, which forms part of the Company’s 100% owned Alum Shale Properties in central Sweden.
The drill program at the Österkälen Property is designed to test prospective Alum Shale mineralization associated with coincident geophysical and geochemical anomalies identified across the Property. The number of drill holes and total meters completed will be guided by geological observations and uraniferous radiometric measurements generated during drilling and will form part of the Company’s approved 2026 exploration budget of approximately 5,000 to 7,000 meters across the Viken and Alum Shale Properties.
Drilling is focused on a large MobileMT conductive anomaly identified in 2025 (Figures 1 and 2), which coincides with geochemical soil anomalies interpreted to reflect favourable Alum Shale stratigraphy (News Release – October 29, 2025). The anomaly extends approximately 8 km in length and up to 3.5 km in width and remains entirely untested by drilling. Given its scale, geophysical signature and strong geochemical support, Österkälen represents one of the highest-priority and most compelling exploration targets identified within the Company’s extensive Alum Shale Properties.
Garrett Ainsworth, CEO of District, commented: “We are excited to have commenced our first drill program targeting Alum Shale mineralization in Sweden. The large conductive MobileMT anomaly at Österkälen is interpreted to represent Alum Shale and has dimensions consistent with a district-scale target. By integrating geophysical, geochemical and geological datasets, we have identified a high priority target that has never been previously drill tested. This program is designed to determine whether the Österkälen target hosts the characteristics of a Viken-style mineralized system while continuing to demonstrate the significant exploration upside across our Alum Shale Properties.”
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 (“NI 43-101”).
Mr. Ainsworth has not verified any of the information regarding any of the properties or projects referred to herein other than the Österkälen Property. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on the Österkälen Property.
About District Metals Corp.
District is a uranium polymetallic exploration company focused on its flagship Viken Property in Sweden. The Viken Property covers 100% of the Viken Deposit, which contains the largest undeveloped Mineral Resource Estimate of uranium in the world along with significant Mineral Resource Estimates of vanadium, potash, molybdenum, nickel, copper, zinc, and other important and critical raw materials.
