Discovery Silver Announces Annual General Meeting Results

TORONTO, June 27, 2022 (GLOBE NEWSWIRE) -- Discovery Silver Corp. (TSX-V: DSV, OTCQX: DSVSF) (“Discovery” or the “Company”) is pleased to announce the results of voting at its Annual General Meeting held Friday, June 24, 2022. Shareholders voted in favour of all items put forward by the Board of Directors (“the Board”) and Management.

Shareholders voted in favour of the election of all director nominees: Murray John (Chair); Tony Makuch; Jeff Parr; Moira Smith; Daniel Vickerman; and Jennifer Wagner.

Shareholders also voted in favour of (i) appointing PricewaterhouseCoopers LLP, Chartered Accountants, as auditors of the Company for the ensuing year and authorizing the Directors to fix their remuneration; (ii) fixing the number of directors on the Company’s Board at six persons; (iii) re-approving and ratifying the Company’s Stock Option Plan and (iv) re-approving and ratifying the Company’s Restricted Share Unit Plan and Deferred Share Unit Plan. A total of 124,892,509 Discovery common shares were voted, representing 37.5% of total shares issued and outstanding as at the record date of the meeting.

About Discovery

Discovery’s flagship project is its 100%-owned Cordero project, one of the world’s largest silver deposits. The PEA completed in November 2021 demonstrates that Cordero has the potential to be developed into a highly capital efficient mine that offers the combination of margin, size and scalability. Cordero is located close to infrastructure in a prolific mining belt in Chihuahua State, Mexico. Continued exploration and project development at Cordero is supported by a strong balance sheet with cash of approximately C$65 million.

On Behalf of the Board of Directors,

Tony Makuch, P.Eng

Interim CEO

For further information contact:

Forbes Gemmell, CFA

VP Corporate Development

Phone: 416-613-9410

Email:

Website:

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

This news release is not for distribution to United States newswire services or for dissemination in the United States.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

Cautionary Note Regarding Forward-Looking Statements

This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking statements. Forward-looking statements including, but not limited to Discovery’s future plans and objectives with respect to the Cordero project, estimates of future mineral reserves, mineral resources, mineral production, development potential and, future exploration activities planned, plans and objectives in the areas of sustainable development, health, safety, environment, community development, the Cordero, Puerto Rico, Minerva and Monclova projects, and the prospect of further discoveries there, all of which constitute forward looking information that involve various risks and uncertainties. Although Discovery believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Factors that could cause actual results to differ materially from those described in forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. Discovery does not assume any obligation to update any forward-looking statements except as required under applicable laws.