District Metals Corp Presentation Update - 2025-04-29 - Significant Reclassification of...

This analysis highlights the key changes in District Metals Corp's recent presentation, notably the reclassification of the Viken deposit from a historical resource to the world's largest undeveloped uranium deposit, along with an updated mineral resource estimate in 2025. The updates also include a revised project timeline, removal of outdated historical resource data pages, and minor adjustments in drill hole data. No material changes were observed in warrants, options, or overall capital structure.

Page-by-Page Changes:

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Page 3: The most substantial change on this page involves the resource estimate and project description. Previously, the Viken deposit was associated with historical inferred resource estimates of 1.15 billion pounds U3O8 and 3.8–16.7 billion pounds V2O5. In the update, Viken is described as "the largest undeveloped uranium deposit in the world" without specific resource figures. Additionally, the news release date shifted from July 29, 2024, to April 29, 2025. The focus moved from ownership and historical estimates to emphasizing Viken's strategic importance and its reclassification status. No changes are noted regarding warrants, options, or capital structure.

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Page 10: The key update is the completion of an updated mineral resource estimate for Viken in 2025, replacing prior estimates only updated as of 2014. Also, the number of drill holes drilled by Continental Precious Minerals was revised from 133 (2006–2008) to 122 (2006–2012). No modifications are reported concerning warrants, options, or shares.

Page 11: The entire page was removed, which previously contained historical mineral resource estimates from 2010 and 2014 for the Viken deposit, including detailed grades, tonnages, and resource classifications. The removal signifies a shift away from presenting historical data toward new, non-quantitative emphasis on the deposit's current strategic valuation.

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Page 28: This page was entirely removed. It previously contained detailed, historic resource estimates and technical notes for the Sägjörn, Nianfors, and Ardnasvarre properties, including grade assumptions, drilling data, and classification details under NI 43-101 standards, all of which are now omitted, reflecting a move away from reliance on historical estimates.

Page N/A (originally page 29): A new page has been added focusing on the 2025 Viken Deposit Mineral Resource Estimate. It provides a summary of the updated resource calculation, emphasizing that the deposit is considered "the largest undeveloped uranium deposit in the world," along with the associated technical parameters, assumptions, and the responsible qualified person. This signifies a key shift to presenting current, technically supported resource estimates rather than historical data.

In summary, the core material change revolves around repositioning Viken from a historical resource context to a current strategic asset, supported by a new 2025 resource estimate and reclassification, while older resource estimate pages and detailed technical disclosures have been removed to align with current reporting standards. The company's capital structure remains unchanged, and no new warrants or options are noted.