District Metals drills 7.4% ZnEq or 2.9% CuEq over 29.2 metres at Tomtebo property, Sweden

District Metals Corp. [TSXV-DMX; OTCQB-DMXCF; FSE- DFPP] reported assay results for the six drill holes (extension of TOM22-037B, TOM24-039 to -043) from the Spring 2024 drill program at the high grade polymetallic Tomtebo property located in the Bergslagen Mining District in south-central Sweden.

A total of 2,196 m in six drill holes was completed during this drill program that was carried out from mid-February to mid-April 2024 as part of the collaboration with Boliden Mineral AB. Strong footwall copper-rich polymetallic sulphide mineralization has been encountered at the Steffenburgs zone of the historic Tomtebo Mine.

Drill holes TOM24-041 to -043 targeted the Steffenburgs zone massive sulphide lens down-dip beneath holes TOM21-025, -028 and TOM22-038, which were highlighted by down-hole intercepts of 14.3 metres at 14.2% ZnEq (210.0 to 224.3 m), 30.05 m at 10.9% ZnEq (148.35 to 178.40 m), and 25.5 m at 8.2% ZnEq (249.0 to 274.1 m), respectively. TOM24-042 was drilled 105 m down-plunge from TOM22-038 where mineralization remains wide open at depth.

Although holes TOM24-041 and -042 are copper-rich polymetallic intervals, the zinc equivalent grades are used in the cross sections to better illustrate the grade distribution within the Steffenburgs zone.

Garrett Ainsworth, CEO of District, commented: “The drill assay results from hole TOM24-042 at the Steffenburgs zone exceeded our expectations in terms of the copper and gold values, and have delivered a strong interval of 29.2 m at 2.9% copper equivalent that remains wide open at depth. We consider our first drill program at Tomtebo in collaboration with Boliden to be a great success, and we look forward to further review with our partner before planning the next phase of drilling at Tomtebo.

“We continue to carry out geological mapping, prospecting, and rock sampling for whole rock analysis across the Tomtebo and Stollberg Properties with an objective of identifying regional drill targets that are coincident with existing geophysical (conductive and magnetic) anomalies of interest. Planning for a drill program at the Stollberg Property in Fall 2024 remains on track.”

The Tomtebo drill program was designed to test both geological ideas as well as step-outs at depth from previously significant intercepts of polymetallic sulphide mineralization at the Steffenburgs zone at the historic Tomtebo Mine.

District is a polymetallic exploration and development company focused on the Viken and Tomtebo Properties in Sweden. The Viken Property covers 100% of the uranium-vanadium Viken Deposit, which is an asset with substantial exploration and development expenditures that resulted in the definition of large historic polymetallic resource estimates in 2010 and 2014. The Viken Deposit is amongst the largest deposits by total historic mineral resources of uranium and vanadium in the world.

The advanced exploration stage Tomtebo property is located in the Bergslagen Mining District of south-central Sweden and is situated between the historic Falun Mine and Boliden’s Garpenberg Mine that are located 25 km to the northwest and southeast, respectively. Two historic polymetallic mines and numerous polymetallic showings are located on the Tomtebo Property along an approximate 17 km trend that exhibits similar geology, structure, alteration and VMS/SedEx style mineralization as other significant mines within the district.