District Metals and Boliden Increase 2025 Exploration Budget for Swedish Properties

District Metals and Boliden Minerals have approved an increased exploration budget of CAD$3.0 million for 2025, a 50% increase from the previous year, to be equally allocated between the Tomtebo and Stollberg properties in Sweden. District Metals, as the operator of the collaboration, has commenced core drilling at the high-grade base metal polymetallic Tomtebo Property in the Bergslagen Mining District.

The 2025 budget will support geological mapping, geochemical sampling, historical drill core review, and core drilling. The planned core drill program at the historic Tomtebo Mine area includes 1,500 to 2,000 meters across three to four drill holes. Boliden's proprietary down-hole electromagnetic survey will follow these drill holes to test the broader Steffenburgs zone, particularly below hole TOM24-042, which previously returned significant mineralization.

Additionally, permitting is in progress for drill testing at the Kvistaberget and historic Lövås Mine target areas later in 2025.

CEO Garrett Ainsworth emphasized that modern exploration methods have enhanced understanding of the mineralized system at the Tomtebo Mine. The ongoing drilling phase aims to test targets identified in previous drilling campaigns, particularly in the Steffenburgs zone, where massive sulphide lenses with high-grade polymetallic mineralization remain open for further exploration.