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District Executes Agreement to Sell Remaining Ownership of the Bakar Property on Northern Vancouver Island, British Columbia
Vancouver, British Columbia--(Newsfile Corp. - June 4, 2025) - District Metals Corp. (TSXV: DMX)...
About this update from District Metals Corp.
[{"type":"text","content":"District Executes Agreement to Sell Remaining Ownership of the Bakar Property on Northern Vancouver Island, British ColumbiaVancouver, British Columbia--(Newsfile Corp. - June 4, 2025) - District Metals Corp. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQB: DMXCF) (FSE: DFPP); (\"District\" or the \"Company\") is pleased to announce the execution of a definitive purchase agreement (the \"Agreement\") dated June 3, 2025 for District's high grade copper-silver Bakar Property (\"Bakar\" or the \"Property\") located on northern Vancouver Island in British Columbia with Sherpa II Holdings Corp. (\"Sherpa II\") (TSXV: SHRP).Garrett Ainsworth, CEO of District, commented: \"District's focus is clearly on our Swedish uranium and base metal polymetallic properties. The sale and full exit of ownership from the Bakar Property on northern Vancouver Island in British Columbia will allow Sherpa II to continue to advance the Bakar Property on a 100% ownership basis. District will benefit from any potential exploration success at the Bakar Property through its equity position in Sherpa II.\"Transaction HighlightsUnder the Agreement, Sherpa II will acquire District's remaining approximate 25% interest in the Bakar Property by the issuance of 1.5 million shares of Sherpa. Closing of the transaction remains subject to customary closing conditions including approval by the TSX Venture Exchange. Technical InformationAll scientific and technical information in this news release has been prepared by, or approved by Garrett Ainsworth, P.Geo, President and CEO of the Company. Mr. Ainsworth is a Qualified Person for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects.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 polymetallic exploration and development company focused on the Viken and Tomtebo Properties 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 world1 along with significant Mineral Resource Estimates...