District Metals Corp

DMX

District Metals Corp., a junior mineral exploration stage company, acquires, explores for, and evaluates natural resource properties. The company holds a 100% interest in the Tomtebo property covering an area of 5,143.86 hectares; and Svärdsjö property covering an area of 1,037 hectares located in the Bergslagen mining district of south-central Sweden. It also owns a 100% interest in the Gruvberget property covering an area of 5,286 hectares located in Bergslagen mining district; and 20% interest in the Bakar property covering an area of 9,318 hectares located in North Vancouver Island in British Columbia, Canada. The company was formerly known as MK2 Ventures Ltd. and changed its name to District Metals Corp. in July 2019. The company was incorporated in 1989 and is based in Vancouver, Canada.

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Information

Key Information

Legal Entity

District Metals Corp

Sector

Precious Metal

Founded

July 31, 1996

Employees

Reporting Currency

CAD

Contact Phone

604 288 4430

Website

www.districtmetals.com

Headquarters Address

1030 West Georgia Street , Vancouver , BC V6E 2Y3 , CA

Identifiers

ISIN

CA2548481043

Commodity Portfolio

ZN Zinc Primary

CU Copper Primary

PB Lead Primary

AG Silver Primary

AU Gold Byproduct

Stock Exchanges

DMX TSXV • CAD

DMX:CVE

DMXCF OTC • USD

DMXCF:OTCMKTS

Organization

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Videos

District Metals - Viken Project: New Drilling at Target Areas A & B

The KE Report

4 days ago 15:22

Key Highlights

detailed

The guest says drilling has started at the Viken property (announced October 6), targeting conductive anomalies in Target Areas A and B that the airborne MobileMT survey showed are larger and stronger than the response over the Viken deposit itself.
He frames the program as modest: roughly 2,000-3,000 metres across 10-15 holes of 200-300 metres before the Christmas break, at about $300 per metre all-in, or roughly CAD 900,000.
He argues the PEA (released in June) showed only about 130 million tonnes of inferred resource supports positive preliminary economics, and a 600m x 600m block of 150m-thick alum shale — about 9 holes at 300m spacing — could match that tonnage.
Regional drilling at the Osterkalen and Malgomaj licenses hit graphitic black shale in 15 of 15 holes (just under 2,000 metres), which he says validates the MobileMT geophysical model, though a lab change away from four-acid digestion could delay those assays.
He cites upcoming catalysts: drill and visual results from Viken, remaining MobileMT survey data across the ~150,000-hectare alum shale portfolio due before year-end, and the long-delayed Geological Survey of Sweden decision on naming the Viken deposit a deposit of national interest.

District Metals has started drilling Viken's target areas A and B, large conductive anomalies from an airborne MobileMT survey that outshine the known deposit. Alum shale continuity means a 600m by 600m area 150m thick can match the 130-million-tonne resource behind the project's positive preliminary economics. The company picks its mine area on more than geology: shallow, thick shale optimizes strip ratio (waste moved per unit of ore), plus woodland sites away from lakes ease permitting. Regional drilling hit graphitic black shale in all 15 holes across the Osterkalen and Malgomaj licenses, validating the geophysical model, though a lab method change may delay assays. Catalysts ahead include Viken drill results and a Geological Survey of Sweden national-interest decision; Sweden's largest center-left party is pro-nuclear and pro-mining.

District Metals - Swedish Election Recap, Uranium Policy Outlook, Fall Exploration Plans

The KE Report

25 days ago 10:14

Key Highlights

detailed

Garrett Ainsworth argues the likely largest party in Sweden's next government, the Social Democrats, remains pro-nuclear and pro-mining and has previously backed mining uranium as a by-product, so he sees little risk to Sweden's uranium policy shift from the election result.
The September 13, 2026 election was decided by roughly 26,000 votes (176 seats to 173), and Ainsworth expects months of coalition talks with no fixed timeline, an uncertainty he says is already visible in District's share price.
Ainsworth believes the Geological Survey of Sweden held off designating the Beacon deposit a project of national interest ahead of the vote and expects that decision soon; the designation mainly matters at the environmental and development permitting stage, not during exploration.
Fieldwork stays on track: drilling at the Alum Shale properties is complete with results released, and drilling at the Beacon property is planned to start in October 2026 after a pause for moose hunting season.
As of the September 18, 2026 recording the company holds about C$15 million in cash against a market cap of roughly C$83 million and says it is fully funded for 2026.

Sweden's hung parliament leaves coalition talks open for months, and the outcome will steer mining and uranium policy that District Metals depends on. The guest argues the likely lead governing party, the Social Democrats, is pro-nuclear, pro-mining, and backs uranium mining as a by-product. The Viken deposit's national interest designation was delayed past the election and only takes effect at the mine permitting stage. Alum Shale drilling is done with results released, and Viken drilling should start in October after a pause for moose hunting season. District Metals holds about C$15 million in cash against an C$83 million market cap and says it is fully funded for this year.

District Metals - Viken Economic Impact Study: Explaining The US$7.66 Billion Economic Contribution

The KE Report

3 months ago

Key Highlights

detailed

Per the guest, the July 22, 2026 Economic Impact Study puts the conceptual 13-year Phase 1 Viken mine's contribution to Sweden's economy at US$7.66 billion, based on a PEA contemplating mining of only about 3% of the deposit's mineral resource.
The guest breaks the figure down to about US$1.6 billion in corporate taxes, US$200 million in employment income taxes, roughly US$1.5 billion in capital investment and operating spend, and 1,065 full-time jobs (355 direct, 710 indirect).
A 0.2% state mineral fee, described by the guest as a gross royalty, would split 25% to the Swedish state and 75% to landowners, with landowners receiving about US$22 million over the Phase 1 mine life.
Management plans to drill Viken target areas A and B, citing a strong geophysical signature at A, before starting a PFS, with Viken drilling expected to begin in early-to-mid October 2026 after a September pause for moose hunting season.
The guest estimates spending of roughly 60% on Viken, 35% on alum shale projects and 5% on non-alum shale uranium projects, while exploring for another Viken-type deposit where 130 million tonnes would match the tonnage contemplated in the June 2026 PEA.

District Metals' third-party Economic Impact Study pegs the conceptual 13-year Phase 1 Viken mine's contribution to Sweden at US$7.66 billion. The figure rests on June's PEA (Preliminary Economic Assessment — an early, conceptual mine study), which would mine only about 3% of the Viken resource. The breakdown includes roughly US$1.6 billion in corporate taxes, about 1,065 direct and indirect jobs, and US$22 million for landowners. CEO Garrett Ainsworth highlights Sweden's state mineral fee — effectively a 0.2% gross royalty split 25% to the state, 75% to landowners. Drilling Viken's target areas A and B comes before a pre-feasibility study (PFS), with alum shale exploration running until mid-October.

Erik Wetterling – Deep Value Developers and Alpha Catalyst Explorers Build An All-Weather Portfolio

The KE Report

4 months ago

Key Highlights

detailed

Sweden's municipal veto against uranium mining was voted down, which he says puts District Metals back in the race.
He describes the deposit as theoretically very large, calling it infinite in effect, while noting substantial local opposition remains.
In his view the veto reversal changes long-term value materially and, unlike most theses in the sector, has almost nothing to do with where metals prices are today.
Framed as one of three more advanced, resource-backed stories he favours for catalysts that are not tied to metals-price direction.

Erik Wetterling argues for an all-weather junior mining portfolio built on company catalysts rather than metal price direction. High-cost producers offer the biggest upside in bull markets but carry the highest bankruptcy risk when sentiment falls. Test whether a project still works at lower prices: NPV (net present value, today's value of future cash flows) versus market cap. Single-project explorers risk a dilution spiral after a missed drill hole, so strong backing and third-party validators matter. Silver equities look discounted: many developers imply a $30 silver price while the metal trades near $70.

District Metals - Details On The Swedish Parliament Passing Permitting Reform

The KE Report

4 months ago

Key Highlights

detailed

The guest says Sweden's parliament vote of June 15, 2026 (280 in favour, 66 against) removing the roughly 50-year municipal veto on uranium processing places the company's Swedish uranium and energy-metals portfolio in the same permitting stream as other critical raw materials.
He states the reform changes no current work plans because the company is still earlier-stage in exploration and development, and the veto only applies at the last permit needed before building a mine.
Activity is ramping: a preliminary economic assessment was issued in early June 2026, drilling at the company's alum shale properties is about to start, and an airborne survey is expected to begin in early July 2026 covering about half of those projects.
An economic impact study with BDO consultants is expected within roughly a month, detailing local and national tax revenue, direct and indirect jobs and other strategic benefits, after which the company plans to brief municipalities and landowners.
The 2026 budget is around C$5 million with about C$17 million in the bank; the guest says the drilling budget could rise but is being held back to keep landowners comfortable, and expects busy news flow into the end of 2026.

Sweden's parliament voted 280-66 to remove a 50-year municipal veto on uranium processing, cutting a late-stage permitting risk. The change levels uranium permitting with other metals, but only binds when a project seeks the final environmental permit to build. Ainsworth argues Sweden should make Sami and landowner consultation a legal requirement, mirroring First Nations consent rules in Canada. The reform does not move District Metals' near-term plans: drilling, an airborne survey, and an economic impact study all run through year-end. About C$5 million of spending is backed by roughly C$17 million cash, with drilling paced to keep landowner relations comfortable.

District Metals - Viken Deposit PEA: NPV8% of $2.88 billion, IRR of 45.9%

The KE Report

4 months ago

The Viken Deposit's PEA (Preliminary Economic Assessment — an early-stage economic study) reports a post-tax NPV of $2.88 billion and a 2.1-year payback, driven by valuable byproduct credits from vanadium and molybdenum. Byproduct credits from the multi-commodity resource create a negative net cash cost for uranium production, meaning the mine effectively pays for uranium extraction through the sale of other metals. This Phase 1 study evaluates only 3% of the total resource base, leaving significant exploration upside for future expansion at the Swedish project.

District Metals - Strategic $10M Financing and "Deposit of National Interest" Designations in Sweden

The KE Report

5 months ago

District Metals secured a strategic $10M no-warrant financing to protect against market volatility despite maintaining a strong treasury position. Sweden's Geological Survey designated the neighboring Häggån deposit as a Deposit of National Interest, potentially benefiting District's Viken property. Upcoming catalysts include a Preliminary Economic Assessment, Economic Impact Study, summer drilling, and airborne surveys across polymetallic properties.

District Metals - PEA And Economic Impact Study Coming, Key Government Policies To Watch

The KE Report

7 months ago

District Metals advancing toward PEA and economic impact study release, signaling key project milestones for investors. Management highlights critical European government policies that could significantly impact mining development timelines. Discussion covers strategic positioning in district-scale exploration with potential for resource expansion upside.

District Metals - Addressing Market Volatility and the Future of the Viken Deposit

The KE Report

8 months ago

District Metals CEO discusses strategies for navigating current market volatility while advancing the Viken Deposit project in Sweden. The Viken Deposit represents a significant polymetallic opportunity with uranium, zinc, and other critical minerals in a stable jurisdiction. Management outlines upcoming catalysts including drilling programs, permitting milestones, and potential resource expansion plans.

District Metals - 2026 Uranium Advancement Plans After Sweden’s Moratorium Lift: Drilling, PEA, EIS

The KE Report

9 months ago

Key Highlights

detailed

Garrett says the 2026 catalyst is a PEA on the flagship Beacon deposit led by P&E Mining Consultants, with a projected 15–20 year mine life and Metz Engineering (Perth) handling alum-shale metallurgy
Plans 5,000–7,000 m of staged drilling starting on the alum-shale properties in the north and moving south toward Beacon, both to refine the drill system on less populated ground and to give more time for landowner engagement near Beacon
An Economic Impact Study by BDO Canada will follow the PEA to quantify potential tax revenue and direct/indirect jobs from a future Beacon operation, framed as support for the project's social license
Sits on five uranium properties (Beacon, alum-shale, Ardensvada, Sockjarn, Nyenfors) covering ~150,000 hectares in alum-shale ground alone, plus two Bergslagen polymetallic projects being marketed to potential partners
Garrett puts cash at roughly C$9M and the 2026 budget at C$5–6M, supplemented by ongoing warrant exercises (just under C$2M at C$0.20 expiring early March 2026, and ~7.3M warrants at C$0.30 expiring February 2027)

District Metals advances its Viken flagship into a Preliminary Economic Assessment (PEA) targeted for Q2 2026, with Mets Engineering Group handling Alum Shale metallurgy. A 5,000 to 7,000-meter 2026 drill program will test MobileMT conductive anomalies across the company's 150,000-hectare Alum Shale portfolio in Sweden. District retained BDO Canada to quantify tax revenue and job creation, a step to secure the social license for long-term project development. Drilling will start in the less populated northern woodlands and move south toward Viken, refining the drill system before reaching populated farmland areas. District enters 2026 with about C$9 million in cash against a C$5 to 6 million budget, supplemented by potential warrant exercises through early 2027.

Articles

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District Metals Drills Viken's Target Areas A and B: Hunting Shallow, Thick Alum Shale

District Metals has started drilling at Target Areas A and B on its Viken project in Sweden, aiming for 2,000-3,000 metres across 10-15 holes before the Christmas break. CEO Garrett Ainsworth says the goal is not a bigger resource but to find the shallowest, thickest, most socially and environmentally suitable area to advance toward a mine.

4 days ago

District Metals - Viken Project: New Drilling at Target Areas A & B

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Swedish Election Limbo Delays District Metals' Beacon Decision — CEO Still Sees a Pro-Uranium Path

District Metals CEO Garrett Ainsworth says Sweden's 176-173 election result leaves months of coalition talks, which he believes delayed the Geological Survey of Sweden's national interest decision on the Beacon deposit. He argues the likely lead party remains pro-nuclear and open to uranium by-product mining, while the company holds about C$15 million cash and plans Beacon drilling in October.

25 days ago

District Metals - Swedish Election Recap, Uranium Policy Outlook, Fall Exploration Plans

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District Metals Puts a US$7.66 Billion Price Tag on the Viken Mine's Value to Sweden

District Metals' new third-party Economic Impact Study, built on its June 2026 Viken PEA, estimates a conceptual 13-year Phase 1 mine would contribute US$7.66 billion to Sweden's economy, including about US$1.6 billion in corporate taxes and 1,065 direct and indirect jobs. CEO Garrett Ainsworth says drilling at Viken's Target Areas A and B is set to begin around October, ahead of any pre-feasibility decision.

3 months ago

District Metals - Viken Economic Impact Study: Explaining The US$7.66 Billion Economic Contribution

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