District's $6 Million Private Placement Financing Fully Subscribed

Vancouver, British Columbia--(Newsfile Corp. - May 13, 2025) - District Metals Corp. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQB: DMXCF) (FSE: DFPP); ("District" or the "Company") has fully allocated its C$5,000,000 non-brokered private placement financing under the Listed Issuer Financing Exemption (as defined below) of 18,518,518 common shares in the capital of the Company (the "Shares") priced at C$0.27 per Share (the "LIFE Offering"). The Shares offered under the LIFE Offering will not be subject to a hold period in accordance with applicable Canadian securities laws.

The Company is pleased to announce its C$1,000,000 non-brokered private placement financing through an offering of 3,703,703 Shares priced at C$0.27 per Share (the "NBPP Offering" and together with the LIFE Offering, the "Offering") is also fully allocated and the oversubscribed book has closed. The Shares offered under the NBPP Offering will be subject to a four month and one day hold period in accordance with applicable Canadian securities laws.

The Company intends to use the net proceeds of the Offering to fund exploration activities on the Company's projects in Sweden, and for general corporate purposes. The Company will pay a finder's fee to Pareto Securities AB ("Pareto") in connection with investors that are introduced by Pareto to the Offering. Any finder's fees payable will be in accordance with the policies of the TSX Venture Exchange (the "TSXV").

The Offering is scheduled to close on or about May 21, 2025, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSXV. Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions ("NI 45-106"), the LIFE Offering is being made pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Listed Issuer Financing Exemption"). The NBPP Offering is made pursuant to prospectus exemptions under NI 45-106 including, but not limited to, the accredited investor exemption.

The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any applicable securities laws of any state of the United States and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent such registration or an applicable exemption from such registration requirements. This release does not constitute an offer for sale or the solicitation of an offer to buy any of the securities in the United States or to, or for the account or benefit of, a U.S. person. "U.S. person" and "United States" are as defined in Regulation S under the U.S. Securities Act, or elsewhere.