Mr. Garrett Ainsworth reports

DISTRICT RECEIVES EXEMPTIVE RELIEF FROM CANADIAN SECURITIES REGULATORS IN CONNECTION WITH LISTING ON THE NASDAQ FIRST NORTH GROWTH MARKET IN SWEDEN

District Metals Corp.'s previously announced application for exemptive relief from the applicable Canadian securities regulators has been reviewed, and an order granting exemptive relief effective March 14, 2025, has been granted to the company. The decision provides the company with exemptive relief to continue to be a venture issuer for the purposes of Canadian securities laws despite the listing of its depositary receipts on the Nasdaq First North Growth Market.

As a result of the decision and provided that certain conditions set out in the decision are met on a continuing basis, the company will receive relief from the requirements applicable to a reporting issuer that does not satisfy the definition of venture issuer in each of the following instruments: National Instrument 41-101, General Prospectus Requirements; National Instrument 51-102, Continuous Disclosure Obligations; National Instrument 52-107, Acceptable Accounting Principles and Auditing Standards; National Instrument 52-109, Certification of Disclosure in Issuer's Annual and Interim Filings; National Instrument 52-110, Audit Committees; and National Instrument 58-101, Disclosure of Corporate Governance Practices.

A copy of the decision may be found on the website of the British Columbia Securities Commission.

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 these 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 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 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 historic polymetallic resource estimates in 2010 and 2014.

The advanced exploration-stage Tomtebo property is located in the Bergslagen mining district of southern-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 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+.

We seek Safe Harbor.