お知らせ • Jun 03
District Metals Corp. Reports Preliminary Economic Assessment Results for the Viken Energy Metals Deposit
District Metals Corp. announced the results of the Preliminary Economic Assessment (PEA) for the Viken Energy Metals Deposit (the "Viken Deposit") within the Viken Property located in Jämtland County, central Sweden. The Viken Property is 100% owned by the Company and is also completely free of any net smelter returns royalty. The PEA delivers an after-tax net present value (NPV8%) of USD 2,880 million at an 8% discount rate and an internal rate of return (IRR) of 45.9% alongside initial CAPEX of USD 876 million. The low operating costs enable negative-cost uranium production of 3.3 million pounds of U3O8 per year, which meets the full uranium demand of Sweden's current nuclear reactor fleet. The PEA results position the Viken Deposit amongst the most compelling development opportunities for important and critical raw materials in the mining sector. The highlights include strong financial metrics: after-tax net present value (NPV8%) of USD 2,880 million, internal rate of return (IRR) of 45.9%, and payback period of 2.1 years. Significant after-tax free cash flow: initial capital cost of USD 876 million to generate average after-tax free cash flow of USD 531 million per year over the 13 years of life of mine (LOM) production. Negative cost to produce uranium: average cash cost (net of by-product credits) per pound of uranium of negative USD 121/lb U3O8 and an all-in sustaining cost (AISC) per pound of uranium of negative USD 118/lb U3O8 (net of by-product credits) over the life of mine. Simplicity of mining: conventional truck-and-surface miner open pit operation (no drill and blast) with an average strip ratio of 0.2 to 1.0 (waste to mill feed). Enhanced metallurgical recoveries: modified pug roast processing conceptually shows metallurgical recoveries of 90% for uranium, 70% for vanadium, 70% for sulphate of potash (SOP), 30% for nickel, and 50% for molybdenum and zinc. Significant production profile: the Base Case scenario proposes mining at 10 million tonnes per annum (Mtpa) producing approximately 3.3 million pounds per year of U3O8 production capacity, 16 million pounds per year of vanadium pentoxide (V2O5) flake, further refined into downstream vanadium products including 37 million litres per year of vanadium electrolyte and 6 million kilograms per year of ferrovanadium (FeV) at a ratio of 35:65, respectively. 250,000 tonnes per year sulphate of potash (SOP) by-product for sale as fertilizer capable of supplying 16% of Europe's annual SOP demand that is currently import-dependent, and forecast to grow at a CAGR of 3.9% to 2034. Mixed sulphide product for smelting to refined molybdenum (4.5 million pounds per year), nickel (1.6 million pounds per year), and zinc (2.1 million pounds per year) products. Extraordinary optionality: the PEA outlines total life of mine production of 127 million tonnes sourced exclusively from within the 456 million tonne Indicated Mineral Resource Estimate published in April 2025. The additional 4,333 million tonne Inferred Mineral Resource Estimate highlights the immense scale and optionality with planned life of mine production representing only a small fraction of the broader Mineral Resource base. The PEA does not include, nor is it based upon, the Inferred Mineral Resource Estimate. Exceeding Environmental Regulations: new and proven technologies proposed for dust suppression, water management and protection, and dry stack tailings to reclaim the land back to its previous use. The Viken Deposit PEA was prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") standards. The base case was completed at a uranium price of USD 85/lb, a vanadium electrolyte price of USD 9/L, a ferrovanadium price of USD 38/kg, a sulphate of potash price of USD 650/tonne, a molybdenum price of USD 27.22/lb, a nickel price of USD 7.71/lb, and a zinc price of USD 1.45/lb. District engaged P&E Mining Consultant Inc. and METS Engineering Group Pty Ltd. who are independent consultants with a deep understanding of economic studies on Alum Shale deposits in Sweden. The study envisions a conventional open pit mining and processing operation with a low strip ratio that is amenable for a continuous mining system and truck transport. The nominal initial nameplate processing capacity has been set to 27,400 tonnes per day (tpd) or 10 Mtpa, but the areal extent of the Viken Deposit provides significant scalability if desired. This PEA only considers a Phase 1 open pit mining operation, and it is expected that future phases of mining would benefit from reduced capital expenditures by using the existing mineral processing plant and infrastructure. The recovery of uranium, vanadium, sulphate of potash, and a mixed metal precipitate (molybdenum, nickel, zinc) has been evaluated through a pug roast mineral processing plant that includes crushing, pug roasting, grinding, flotation, and acid leaching. The resulting solution is run through a potassium salt crystalliser for recovery of SOP, followed by sulphide precipitation to produce a Mixed Sulphide Precipitate. The uranium and vanadium are recovered by solvent extraction. The vanadium (V2O5) flake product will be further refined into vanadium electrolyte (used in batteries for renewable energy storage) and ferrovanadium (used as alloy for strengthening steel) that have higher saleable value than the V2O5 flake product. The waste slurry will be de-watered and thickened for dry stack tailings placement that will be progressively rehabilitated. After-Tax Net Present Value (NPV8) is USD 2,880 million. Initial Capital Costs (CAPEX) is USD 876 million. Internal Rate of Return (IRR) is 45.9%. Average Annual After-Tax Free Cash Flow (Life of Mine) is USD 531 million. Payback Period is 2.1 years. Uranium Average Annual Production is 3.3 million lbs U3O8. Vanadium Average Annual Production is 16 million lbs V2O5. Vanadium Electrolyte (V Electrolyte) Average Annual Production is 37 million L V Electrolyte. Ferrovanadium (FeV) Average Annual Production is 6 million kg FeV. Sulphate of Potash (SOP) Average Annual Production is 250,000 t SOP. Life of Mine (LOM) Production is 13 years. Average Unit Operating Cost of U3O8 (net of by-product credits) is (-) USD 121/lb U3O8. Uranium Price Assumption is USD 85/lb U3O8. Vanadium Price Assumption (35% vanadium electrolyte at USD 9/L, 65% FeV at USD 38/kg) is USD 15.7/lb V2O5. SOP Price Assumption is USD 650/t SOP. State Mineral Fee Paid to Landowners (0.15% for LOM) is USD 22 million. State Mineral Fee Paid to Sweden (0.05% for LOM) is USD 7 million. Corporate Taxes Paid to Sweden (20.6% for LOM) is USD 1,600 million. The LOM capital costs (CAPEX) for the contemplated conventional open pit mining, processing operation, vanadium refinement facilities and supporting infrastructure at the Viken Deposit are estimated at USD 1,000 million including initial capital costs of USD 876 million.