District Files NI 43-101 PEA Technical Report for the Viken Deposit

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 highlights 1 : After-Tax Net Present Value (NPV 8 ) 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 U 3 O 8 Vanadium Average Annual Production 16 million lbs V 2 O 5 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 U 3 O 8 (net of by-product credits) (-) US$121/lb U 3 O 8 Uranium Price Assumption US$85/lb U 3 O 8 Vanadium Price Assumption (35% vanadium electrolyte at $9/L, 65% FeV at $38/kg) US$15.7/lb V 2 O 5 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.

Technical Information All 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 NI 43-101. Cautionary Note Regarding Non-GAAP Financial Measures Alternative performance measures in this news release such as "free cash flow" are furnished to provide additional information. This non-GAAP performance measures is included in this news release because statistics such as these are used as key performance measures that management uses to monitor and assess performance of the Viken Deposit, and to plan and assess the overall effectiveness and efficiency of mining o...