District Applies for Mineral License that Encompasses the Majority of the Polymetallic Viken Deposit in Central Sweden

District Metals Corp. (TSX-V: DMX) (FRA: DFPP); (‘District’ or the ‘Company’) is pleased to report that Bergslagen Metals AB (a 100% owned Swedish subsidiary of District) has applied for a 2,302 hectare mineral license (Figure 1) to explore for vanadium, nickel, molybdenum, zinc, and other elements, covering approximately 68% of the polymetallic Viken Deposit located in Jamtland County, central Sweden. The Viken Deposit is the largest undeveloped Alum Shale vanadium-uranium-molybdenum-nickel-copper-zinc deposit in Sweden, and amongst the largest deposits by total historic mineral resources of vanadium and uranium in the world. The Bergsstaten (Mining Inspectorate) is expected to reach a decision on the Company’s Viken nr 101 mineral license application by the end of February 2023.

Highlights:

Mineral license application covers 68% of the Viken Deposit, which is a large polymetallic deposit containing economically significant levels vanadium (V), uranium (U), molybdenum (Mo), nickel (Ni), copper (Cu), and zinc (Zn).

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