District Metals Corp. provide an update on the recently completed core drilling program at the Tomtebo Property located in the Bergslagen Mining District of south- central Sweden. Drilling at the Tomtebo Property is part of the CDN $2.0M budget for exploration on the Tomtebo and Stollberg Properties approved by District and Boliden Mineral AB.

As previously announced District and Boliden Mineral AB have agreed to collaborate on the development of District's wholly-owned polymetallic Tomtebo Property and Boliden's wholly-owned polymetallic Stollberg Property, pursuant to which District has been appointed as operator (October 30, 2023 and February 20, 2024 news releases). Drilling at the Tomtebo Property commenced in mid-February where a total of 2,196 m of drilling in six holes (extension of TOM22-037B, TOM24-039 to -043) was completed. A total of 315 samples for multi-element assay and 120 samples for whole-rock lithogeochemistry were then selected.

Drill core samples from these six holes have recently been sent to Boliden's Garpenberg Mine for core cutting. The samples will be sent to ALS Geochemistry in Malå, Sweden for assay preparation and then to ALS Geochemistry in Loughrea, Ireland for analysis. Assay results are expected in June.

Highlights: Strong footwall polymetallic sulphide mineralization encountered at the Steffenburgs zone: Hole TOM24-042 intersected copper-rich semi-massive to massive sulphide mineralization over approximately 17.0 m (309.0 to 326.0 m). Additional footwall polymetallic sulphide mineralization from the Steffenburgs zone includes: Hole TOM24-041 intersected multiple intersections of disseminated to stringer-style copper-rich sulphide mineralization over approximately 60.0 m (190.0 to 250.0 m). Hole TOM24-043 intersected intermittent disseminated copper-rich sulphide mineralization over approximately 21.0 m (327.0 to 348.0 m).

Down-hole electromagnetic results show multiple off-hole conductors: all drill holes were followed up by Boliden's in-house, state of the art, down-hole, three component electromagnetic (DHEM) survey1, and holes TOM24-037B, 041 to -043 showed both in- hole and off-hole EM conductors that likely represent sulphide mineralization. Holes TOM24-041 to -043, which drilled the Steffenburgs zone, all intersected intense proximal footwall-style alteration and associated footwall "stringer" sulphide veins and sulphide impregnation. In addition, TOM24-042 intersected extensive strong semi-massive to massive sulphide mineralization, which could be intense footwall mineralization rather than the sea floor massive sulphide; again, here the companyrequire results from the lithogeochemical sampling to be certain of the exact location of the ancient sea floor ore horizon.

Strong footwall alteration and mineralization are more widespread than the overlying sea floor massive sulphide lens at Steffenburgs zone. Consequently, some drill holes intersect high grade mineralization within the footwall and little or no massive sulphide at the actual sea floor "mineralized horizon", whereas other holes intersect both semi-massive to massive sulphide in the footwall and massive sulphide at the mineralized horizon. This is normal in VMS exploration.

Delineation of the sea floor massive sulphide lenses, which typically contain the highest grades, requires systematic drilling.