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District Receives Notice of Boliden's Termination of the Option Agreement on the Tomtebo and Stollberg Base Metal Properties
Vancouver, British Columbia--(Newsfile Corp. - August 25, 2025) - District Metals Corp. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQB: DMXCF) (FSE: DFPP) ("District" or the "Company") announces that it has received notice from Boliden Mineral AB ("Boliden") of its decision to terminate the earn-in and joint venture agreement (the "Option Agreement") on the Tomtebo and Stollberg base metal polymetallic properties located in the Bergslagen Mining District of south-central Sweden with...
About this update from Boliden Ab
[{"type":"text","content":"Vancouver, British Columbia--(Newsfile Corp. - August 25, 2025) - District Metals Corp. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQB: DMXCF) (FSE: DFPP) ("District" or the "Company") announces that it has received notice from Boliden Mineral AB ("Boliden") of its decision to terminate the earn-in and joint venture agreement (the "Option Agreement") on the Tomtebo and Stollberg base metal polymetallic properties located in the Bergslagen Mining District of south-central Sweden with District's Swedish subsidiary (District Metals AB).","length":587,"tagName":"p"},{"type":"text","content":"The Option Agreement, originally signed in October 2023, granted Boliden the right to earn up to an 85% interest in the Tomtebo Property by incurring exploration expenditures of up to CAD$10 million over a four-year period. Under the Option Agreement District had the right to earn up to a 15% interest in the Stollberg Property. Boliden's withdrawal from the Option Agreement will see District retain a 100% interest in the Tomtebo Property, and Boliden will retain a 100% interest in the Stollberg Property.","length":513,"tagName":"p"},{"type":"text","content":"As per the terms of the Option Agreement, Boliden will leave the Tomtebo Property in good standing until the end of the 90-day termination notice period and will fulfill all contractual obligations as defined by the Option Agreement provisions.","length":244,"tagName":"p"},{"type":"text","content":"Garrett Ainsworth, CEO of District, commented: "While we are disappointed that Boliden has elected to withdraw from the collaboration on the Tomtebo and Stollberg base metal polymetallic properties, we have appreciated our positive partnership with Boliden and the technical progress made on the projects.","length":310,"tagName":"p"},{"type":"text","content":"We remain highly encouraged by the exploration results at our now 100% owned Tomtebo Property. The technical work completed has significantly advanced our understanding of the volcanic massive sulphide mineralized systems and reinforces our confidence in the potential for expanding upon and discovering new high grade base metal polymetallic mineralization at Tomtebo."","length":375,"tagName":"p"},{"type":"text","content":"Jon Keisu-Lundh, Director Exploration - Boliden Mines, commen...