District Metals: Samples up to 1,397 g/t AgEq and Reports on Additional Historic Drill Results on the Tomtebo Property

October 28, 2020 – District Metals Corp. (TSX-V: DMX) (FRA: DFPP); (“District” or the “Company”) is pleased to report on assay results from grab and chip rock samples recovered from the recently completed geological fieldwork at its polymetallic Tomtebo Project in the Bergslagen Mining District of south-central Sweden. This fieldwork consisted of geological mapping, prospecting and geochemical sampling at the former Tomtebo Mine, and regionally across the 17 km mineralized trend within the 5,144 hectare Tomtebo Property.

Geological work at the Tomtebo Mine in conjunction with the 3D model of mineralized domains and the SkyTEM conductive and magnetic anomalies continues to confirm priority drill targets for a drilling campaign planned for early-2021. The sole objective of rock sampling from outcrop at the historic Tomtebo Mine in September 2020 was to use whole rock analysis to determine the original rock types and degree of alteration, so sampling did not target sulphide mineralization. Mineralized grab rock samples from the Tomtebo and Lövås Mines were recovered and analyzed in 2018¹, and these results are shown in Table 1.

In addition, the Company has located additional historic drill hole data from the area of the Tomtebo Mine at the archive named Arkivcentrum Dalarna in Falun. These additional historic drill holes were completed by state-owned Stora AB from 1944 to 1957, and are located at the Gårdsgruvans zone (see news release dated August 11^th, 2020), and 150 m southeast of the Tomtebo Mine. The majority of this batch of historic drill core was only analyzed for copper, although significant gold and silver values are often associated with the copper mineralization.

Garrett Ainsworth, CEO of District, commented: “Rock samples recovered during the geological fieldwork at the historic mines and mineral occurrences across the Tomtebo Property have returned very high grades associated with semi-massive to massive polymetallic sulphide mineralization. High grade assay results from the Kvistaberget area has drawn greater attention given the lack historic exploration data, and the areas location along trend and between the historic Tomtebo and Lövås Mines. The recently located historical drill results reported on in this release are from the south end of the Tomtebo Mine, which has generated additional priority drill targets and firmed up our existing 3D model of mineralized domains.”

Rock Sample and Historic Drill Hole Highlights

• Six grab samples recovered in September 2020 from dump piles at the historic Lövås Mine and within the Nyberget area returned 216.3 to 1,396.6 g/t AgEq² and 0.98 to 5.32% CuEq³ (Table 1 and Figure 1).

• Seven grab samples recovered in September 2020 from dump piles at historic mineral showings at the Kvistaberget area returned 7.8 to 421.4 g/t AgEq² and 0.04 to 3.81% CuEq³ (Table 1 and Figure 1).

• Eight grab samples were recovered in 2018 from dump piles at the historic Tomtebo Mine area in 2018, which returned 196.3 to 1,295.4 g/t AgEq² and 0.63 to 13.18% CuEq³ (Table 1 and Figure 1).

• Historical drill hole TOMT56005 tested west dipping mineralization beneath the southernmost open pit of the Gårdsgruvans zone at the Tomtebo Mine, and intersected 22.0 m at 2.57% Cu (63.7 to 85.7 m), which has increased the confidence of previously modeled mineralized domains. Silver, gold, zinc, and lead assays for hole TOMT56005 are not available (Table 2).

• Historical drill hole TOMT56003 was collared 150 m southeast from the Tomtebo Mine and intersected 2.3 m at 0.6% Cu, 21.0% Zn, and 5.0% Pb (50.00 to 52.30 m), which remains open along dip and strike. Silver and gold assays for hole TOMT56003 are not available, and the majority of the hole only has copper assays available (Table 3).

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