Vancouver, British Columbia--(Newsfile Corp. - July 17, 2026) - District Metals Corp. (TSXV: DMX) (Nasdaq First North: DMXSE SDB) (OTCQX: DMXCF) (FSE: DFPP); ("District" or the "Company") is pleased to announce that the Company has filed an independent technical report (the "Technical Report") for the Viken Energy Metals Deposit (the "Viken Deposit") within the Viken Property located in Jämtland County, central Sweden. The Company previously disclosed the results of a preliminary economic assessment ("PEA") on the Viken Deposit in its June 2, 2026 news release, which included a summary of all assumptions and key results contained in the Technical Report, subject to the clarification noted below.
The Technical Report is titled "Preliminary Economic Assessment on the Viken Energy Metals Project, Jämtland County, Sweden" and is dated July 17, 2026, with an effective date of June 26, 2026. The Technical Report was prepared by P&E Mining Consultant Inc. and METS Engineering Group Pty Ltd. in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). The Technical Report is available under the Company's SEDAR+ profile at www.sedarplus.ca.
PEA Highlights
The Technical Report details a PEA with the following highlights1:
After-Tax Net Present Value (NPV8) | US$2.88 billion |
Initial Capital Costs (CAPEX) | US$876 million |
Internal Rate of Return (IRR) | 45.9% |
Average Annual After-Tax Free Cash Flow (Life of Mine)2 | US$531 million |
Payback Period | 2.1 years |
Uranium Average Annual Production | 3.3 million lbs U3O8 |
Vanadium Average Annual Production | 16 million lbs V2O5 |
Vanadium Electrolyte (V Electrolyte) Average Annual Production | 37 million L V Electrolyte |
Ferrovanadium (FeV) Average Annual Production | 6 million kg FeV |
Sulphate of Potash (SOP) Average Annual Production | 250,000 t SOP |
Life of Mine (LOM) Production | 13 years |
Average Unit Operating Cost of U3O8 (net of by-product credits) | (-) US$121/lb U3O8 |
Uranium Price Assumption | US$85/lb U3O8 |
Vanadium Price Assumption (35% vanadium electrolyte at $9/L, 65% FeV at $38/kg) | US$15.7/lb V2O5 |
SOP Price Assumption | US$650/t SOP |
State Mineral Fee Paid to Landowners (0.15% for LOM) | US$22 million |
State Mineral Fee Paid to Sweden (0.05% for LOM) | US$7 million |
Corporate Taxes Paid to Sweden (20.6% for LOM) | US$1.6 billion |
Clarification Regarding the Inclusion of Inferred Mineral Resources in PEA
The June 2, 2026 news release notes that the PEA outlined a total life of mine production of 127 million tonnes sourced exclusively from within the 456 million tonne Indicated Mineral Resource Estimate and did not include, nor was based upon, the Inferred Mineral Resource Estimate. The Company would like to clarify that the mine plan (process plant feed) includes approximately 77% Indicated Mineral Resources and 23% Inferred Mineral Resources. The PEA is preliminary in nature, and it includes Inferred Mineral Resources that are considered too speculative geologically to have the economic considerations applied that would enable them to be classified as Mineral Reserves, and there is no certainty that the PEA will be realized. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.