Mr. Garrett Ainsworth reports

DISTRICT ANNOUNCES EQUITY GRANT

District Metals Corp. has granted a total of 2.82 million incentive stock options to directors, officers, employees and consultants of the company, 775,000 restricted share units to officers of the company, and 600,000 deferred share units to directors of the company. Each stock option vests over three years from the grant date and is exercisable to purchase one common share of the company for five years at a price of 75 cents per common share (the closing price of the company's common shares on June 4, 2026, the date prior to the grant date) pursuant to the terms of the company's omnibus incentive plan. Each restricted share unit and deferred share unit represents a right to acquire one common share of the company, cash equivalent or combination thereof in accordance with the company's omnibus incentive plan. The restricted share units and deferred share units vest 12 months from the grant date.

About District Metals Corp.

District Metals is led by industry professionals with a 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 2025 TSX Venture 50 company, ranking among the top-performing issuers on the TSX Venture Exchange in the past year.

District is a uranium polymetallic exploration and development company focused on its flagship Viken property in Sweden. The Viken property covers 100 per cent of the Viken deposit, which contains the largest undeveloped mineral resource estimate of uranium in the world along with significant mineral resource estimates of vanadium, potash, molybdenum, nickel, copper, zinc, and other important and critical raw materials.

We seek Safe Harbor.