Mr. Garrett Ainsworth reports

DISTRICT REPORTS VOTING RESULTS FROM ITS ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS

District Metals Corp. has released the voting results for the company's annual general and special meeting of shareholders held on Dec. 12, 2024, in Vancouver, B.C.

A total of 11,885,478 common shares were voted at the meeting, representing 9.10 per cent of the votes attached to all outstanding common shares. Shareholders voted in favour of all items of business before the meeting, including the election of all director nominees as shown in the attached table.

The shareholders also approved the appointment of Davidson & Company LLP, chartered professional accountants, as auditor of the company for the ensuing year and authorized the board of directors to fix the remuneration of the auditor; and (2) the adoption of an omnibus incentive plan. Results of the shareholder votes on these items are set forth in the attached table.

The omnibus plan is a 10-per-cent rolling plan, pursuant to which the board of directors may grant to eligible participants stock options, restricted share units, performance share units and deferred share units to acquire common shares of the company. An aggregate of 13,056,587 shares are issuable under the omnibus plan, representing 10 per cent of the issued and outstanding shares as of Dec. 12, 2024. The omnibus plan replaces the previous 10-per-cent rolling stock option plan. Please see the circular for further information on the omnibus plan.

For further information regarding the matters considered at the meeting, readers are encouraged to review the circular, a copy of which is available under the profile for the company on SEDAR+ and available on the company's website.

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.

The data disclosed in this news release is related to historical results. District has not undertaken any independent investigation of the sampling nor has it independently analyzed the results of the historical exploration work in order to verify the results. District considers these historical results relevant as the company is using this data as a guide to plan exploration programs. The company's current and future exploration work includes verification of the historical data through drilling.

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

About District Metals Corp.

District 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 polymetallic exploration and development company focused on the Viken and Tomtebo properties in Sweden. The Viken property covers 100 per cent of the Viken uranium-vanadium 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, which are located 25 kilometres to the northwest and southeast, respectively. Two historic polymetallic mines and numerous polymetallic showings are located on the Tomtebo property along an approximately 17-kilometre trend that exhibits similar geology, structure, alteration and volcanogenic massive sulphide/sedimentary exhalative (VMS/sedex) style mineralization as other significant mines within the district.

For further information on the Tomtebo property, please see the technical report entitled "NI 43-101 Update Technical Report on the Tomtebo Project, Bergslagen Region of Sweden," dated effective Oct. 15, 2020, and amended and restated on Feb. 26, 2021, which is available on SEDAR+.

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