District Metals announced the execution of a definitive agreement with Boliden Mineral AB regarding the polymetallic Tomtebo and Stollberg properties in central Sweden. Under the agreement, Boliden will be granted an earn-in option to acquire 85% interest in District’s Tomtebo project, while District Metals will receive 15% of Boliden’s Stollberg project.
In order to exercise the earn-in option, Boliden will have to incur expenditures of 10 000 000 CAD, of which at least 3 000 000 has to be allocated to Tomtebo before October 31st, 2027.
Tomtebo and Stollberg Mineral Licenses (Source: www.districtmetals.com)
