District Metals Corp. announced the identification of four new high priority targets on the polymetallic Gruvberget Property located in the Bergslagen Mining District of south-central Sweden. Detailed soil sampling grids have been completed over the new target areas, and Ionic Leach (IL) geochemical results are expected back before the end of 2022.

The four new target zones were identified through compilation work that comprised recent SkyTEM geophysical survey results in conjunction with geological and historical exploration data on the Property. New Target Areas: Target zone 1: Backen: A Joint Venture (JV) between LKAB and BP Minerals discovered two high grade polymetallic boulders (up to 15% Zn, 4.8% Cu and 23 g/t Ag)1 at the Backen zone in 1980s. The JV was unable to locate the bedrock source for these boulders, which looks to be potentially sourced further to the north-northwest from the JV's area of work.

Target zone 2: Gyllingen: Boliden drilled seven short holes into "sphalerite mineralization" (zinc sulphide) in the mid-1980s. Three drill hole collars were located in the field where the drilling direction was observed as parallel to the geological trend. No detailed information is available on these historical mineralized drill holes, but the Gyllingen zone coincides with a high priority magnetic and conductive anomaly from recent SkyTEM survey.

Target zone 3: North zone extension: The LKAB-BP Minerals JV conducted exploration work north of the Gruvberget North zone, which included drilling geophysical anomalies with 918 m in six holes during 1984. Historical drilling extended polymetallic mineralization to the north of the North zone with a plunge to the north. Drill hole 84-GRU-03 returned 1.0 m of 1.1% Zn and 47 g/t Ag that was within a larger interval of lower grade mineralization.

Target zone 4: South zone extension: A magnetic high anomaly located about 300 m south-southwest from the Gruvberget South zone was drilled with 363.5 m in three holes by NSG (exploration division of Geological Survey of Sweden) in 1982. All three drill holes encountered a 6.0 to 7.0 m wide zone with weak polymetallic mineralization that returned up to 0.1% Cu, 0.08% Pb, 0.09% Zn3 that is interpreted as a potential aureole around a mineralized zone. The Company has recently completed a detailed soil sampling program at the four high priority target areas.

The soil samples will be analyzed using IL analysis, which was determined as the most effective analytical method from a successful soil sampling orientation survey. At each target area, soil samples were recovered 40 m along lines that were 100 m apart, and grids were planned according to a glacial direction from the north. Duplicate soil samples were collected at every 20th sample location.

High priority drill targets will be selected based on soil geochemical anomalies coincident with SkyTEM geophysical anomalies and historical mineral occurrences.