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 10Â 000 000 CAD, of which at least 3Â 000Â 000 has to be allocated to Tomtebo before October 31st, 2027.
Tomtebo and Stollberg Mineral Licenses (Source: www.districtmetals.com)
