District Announces Q3 2026 Results

Vancouver, British Columbia--(Newsfile Corp. - May 29, 2026) - District Metals Corp. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQX: DMXCF) (FSE: DFPP); ("District" or the "Company") is pleased to report its results for the three and nine months ended March 31, 2026. All amounts are in Canadian dollars, unless otherwise noted.

Highlights

• The Company had $8.141 million in cash and cash equivalents at March 31, 2026.
• The Company further strengthened its balance sheet with gross proceeds of $10 million from the non-brokered private placement it closed on May 12, 2026 under the Listed Issuer Financing Exemption.

The Company is well positioned to execute on its operational priorities through the balance of 2026. The Preliminary Economic Assessment for the Viken Property is progressing well, and the results are expected to be released in Q2 2026.

The Company's unaudited condensed interim consolidated financial statements for the three and nine months ended March 31, 2026 (the "Financial Statements") are available on SEDAR+ (www.sedarplus.ca) and the Company's website here.

Next Earnings Report Release

The Company plans to report its annual results for the year ended June 30, 2026 on September 25, 2026.

About District Metals Corp.

District Metals Corp. is led by industry professionals with a track record of success in the mining industry. The Company's mandate is to seek out, explore, and develop prospective mineral properties through a disciplined science-based approach to create shareholder value and benefit other stakeholders. District is a 2025 TSX Venture 50 company, ranking among the top-performing issuers on the TSX Venture Exchange in the past year.

District is a uranium polymetallic exploration company focused on its flagship Viken Property in Sweden. The Viken Property covers 100% of the Viken Energy Metals Deposit, which contains the largest undeveloped Mineral Resource Estimate of uranium in the worldⁱ along with significant Mineral Resource Estimates of vanadium, molybdenum, nickel, copper, zinc, and other important and critical raw materials.

For further information on the Viken Property, please see the technical report entitled "NI 43-101 Updated Mineral Resource Estimate and Technical Report on the Viken Energy Metals Project, Jämtland County, Sweden" dated effective April 25, 2025, which is available on SEDAR+ at www.sedarplus.ca.

On Behalf of the Board of Directors

"Garrett Ainsworth"

President and Chief Executive Officer
[phone]

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