Mr. Garrett Ainsworth reports

DISTRICT'S ANNUAL GENERAL MEETING OF SHAREHOLDERS TO BE HELD ON WEDNESDAY, DECEMBER 9, 2026

District Metals Corp.'s annual general meeting of shareholders will be held at Suite 1303, 1030 West Georgia St., Vancouver, B.C., on Wednesday, Dec. 9, 2026, at 10 a.m. PCT for the following purposes:

• To receive the consolidated financial statements and accompanying management discussion and analysis of the company for the year ended June 30, 2026, together with the report of the auditor;
• To fix the number of directors for the ensuing year at four;
• To elect directors to hold office until the next annual meeting of shareholders;
• To approve the appointment of Davidson & Co. LLP, chartered professional accountants, as auditor of the company for the ensuing fiscal year at a remuneration to be fixed by the directors;
• To ratify and approve the company's 10-per-cent rolling omnibus incentive plan, as more particularly described in the management information circular prepared in connection with the meeting;
• To transact such further or other business as may properly come before the meeting and any adjournment(s) thereof.

Shareholders of record as of Oct. 20, 2026, will be eligible to participate in the meeting.

Meeting documents, including the notice of meeting and management proxy circular, will be available on the company's SEDAR+ profile and on the company's website.

How to vote if your shares trade on the Nasdaq First North Growth Market

The information in this section is of significance to shareholders who hold their securities through Euroclear Nordic AB, which trade on the Nasdaq First North Growth Market. Shareholders who hold Euroclear registered securities are not considered registered shareholders for the purpose of voting at the meeting. These securities are held in the name of CDS & Co., the nominee of the Canadian Depository for Securities. As a result, shareholders will receive a form of proxy (the Swedish proxy) by mail from Computershare AB (Computershare Sweden). This Swedish proxy cannot be used to vote directly at the meeting. To ensure their vote is submitted, shareholders must complete and return the Swedish proxy to Computershare Sweden in accordance with the instructions and deadlines provided with the form.

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 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.

On July 17, 2026, the company filed a technical report prepared in accordance with NI 43-101 disclosing the results of a preliminary economic assessment for the Viken deposit that outlined an after-tax net present value (discounted at 8 per cent) of $2.88-billion (U.S.), internal rate of return of 45.9 per cent and payback period of 2.1 years. The assessment included an initial capital cost of $876-million (U.S.) to generate average after-tax free cash flow of $531-million (U.S.) per year over the 13 years of life of mine production.

For further information on the Viken deposit, please see the technical report entitled "Preliminary Economic Assessment on the Viken Energy Metals Project, Jamtland County, Sweden," dated July 17, 2026, with an effective date of June 26, 2026, available under the company's SEDAR+ profile.

Technical information

All scientific and technical information in this news release has been prepared by, or approved by Garrett Ainsworth, PGeo, president and chief executive officer of the company. Mr. Ainsworth is a qualified person for the purposes of National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Mr. Ainsworth has not verified any of the information regarding any of the properties or projects referred to herein other than the Viken property. Mineralization on any other properties referred to herein is not necessarily indicative of mineralization on the Viken property.

We seek Safe Harbor.