District Mines Ltd. Announces Cease Trade Order

Vancouver, British Columbia--(Newsfile Corp. - May 14, 2026) - District Mines Ltd. (NEX: DIG.H) (the "Company"), announces that the British Columbia Securities Commission, as the principal regulator of the Company, issued a cease trade order (the "CTO") on May 11, 2026. Additionally, the TSX Venture Exchange (the "TSXV") has suspended trading of the Company's common shares.

The CTO was issued due to the Company not filing its audited financial statements, accompanying management's discussion and analysis and related officer certifications for the financial year ended December 31, 2025 (collectively, the "Annual Filings"), which were required to be filed on or before April 30, 2026, being the date the Annual Filings were required to be filed pursuant to applicable Canadian securities law requirements.

The Company continues to work diligently with its auditors to facilitate the completion of the Annual Filings. Revocation of the CTO is expected to occur shortly after the Company files the required Annual Filings.

The CTO was issued under Multilateral Instrument 11-103 - Failure-To-File Cease Trade Orders In Multiple Jurisdictions and prohibits the trading or purchase of any securities of the Company in each jurisdiction in Canada in which the Company is a reporting issuer for as long as the CTO remains in effect; however, the CTO provides an exception for beneficial securityholders of the Company who are not currently (and who were not as of May 11, 2026) insiders or control persons of the Company who may sell securities of the Company if both of the following criteria are met: (a) the sale is made through a "foreign organized regulated market", as defined in Section 1.1 of the Universal Market Integrity Rules of the Investment Industry Regulatory Organization of Canada; and (b) the sale is made through an investment dealer registered in a jurisdiction of Canada in accordance with applicable securities legislation.

About District Mines Ltd.:

District Mines Ltd. is a Canada-based company. The Company explores for and develops petroleum and natural gas reserves in Western Canada.

CAUTIONARY NOTE REGARDING FORWARD LOOKING INFORMATION

Certain information in this news release constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology, such as "plans", "targets", "expects" or "does not expect", "is expected", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates and projections regarding future events. Forward looking information in this news release, includes, but is not limited to, the completion of the audit of the Company's Annual Filings in an expeditious manner and the anticipated filing of the Annual Filings. Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

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