District Metals Reports 937 ppm Uranium From Nianfors Field Program in Sweden

District Metals Corp. reported geochemical results from its summer 2026 reconnaissance field program at its wholly owned Nianfors property in Gävleborgs County, Sweden, with rock samples returning uranium values up to 937 ppm U3O8. The company said the program was designed to follow up on uraniferous radiometric anomalies identified by its 2025 UAV radiometric and magnetic survey.

How the Nianfors Sampling Program Worked

The 2026 program included geological mapping, prospecting, radiometric surveying and geochemical sampling of bedrock outcrops and boulders, according to the lead report. Geological observations and radiometric measurements using a handheld scintillometer were recorded at 111 field stations across the property.

A total of 34 rock samples were collected from boulders and outcrops and submitted for geochemical analysis. The samples returned uranium values from 4 to 937 ppm U3O8, yttrium from 7 to 667 ppm Y2O3 and molybdenum from less than 1 to 509 ppm.

The highest uranium values, up to 937 ppm U3O8, were sampled at the Majsaberget uranium-yttrium-molybdenum occurrence. That occurrence historically consists of 889 mineralized boulders over an area of about 500 m by 200 m, with historical assay results returning a weighted average of 1,600 ppm U3O8 and 1,015 ppm Y2O3. A 1982 report by the Swedish Geological Survey reported mineralized boulder assays ranging from 100 to 14,000 ppm U3O8, 1,015 to 8,756 ppm Y2O3 and 500 to 2,200 ppm Mo. The Majsaberget occurrence has never been drill tested.

Garrett Ainsworth, CEO of District, said: "Results from our 2026 field program at Nianfors provide further support for the Property's uranium polymetallic exploration potential especially at the Majsaberget Occurrence."

District Metals' Viken Economics and Funding

District Metals is a pre-revenue uranium polymetallic exploration and development company focused on Sweden, holding 100% of the Viken Deposit, according to akta.pro company records. The same records show the company released a Preliminary Economic Assessment for the Viken Deposit in June 2026, reporting an after-tax NPV8% of $2.88 billion, an IRR of 45.9%, a 2.1-year payback on $876 million in initial capital costs and a 13-year mine life. The records list three funding rounds, including a $7.3 million post-IPO equity round in April 2026.

Earlier District Metals Work in Sweden

District Metals completed drill hole VIK-26-001 at Target A on the Viken property, intersecting 154.8 meters of Alum Shale from 43.7 to 198.5 meters downhole, Stock Titan reported in October 2026. In September 2026, Stock Titan reported the company completed its first diamond drilling program in Sweden, drilling 1,943 meters in 15 holes that all intersected graphitic black shale interpreted as Alum Shale. District Metals began diamond drilling at the Österkälen mineral licence in central Sweden in June 2026, Mining Technology reported.

What District Metals Plans Next

District Metals said it will integrate field observations, scintillometer readings, geological mapping and geochemical results to refine the geological interpretation of the Nianfors property and identify areas for follow-up exploration and potential drilling.