High-Grade Vein Mineralization Confirmed and Extended At Cordero

TORONTO - Discovery Metals Corp. reported results from 10 diamond drill holes targeting the Parcionera and Josefina high-grade vein trends at its flagship Cordero project (“Cordero” or “the Project”) located in Chihuahua State, Mexico. Multiple vein trends with a combined strike extent of more than 5 km flank the higher-grade bulk-tonnage domain at Cordero; the Parcionera and Josefina vein trends currently represent approximately 2 km of this strike extent. Highlight intercepts include: Parcionera Vein Trend - Hole C20-362: 4.4 m averaging 524 grams per tonne silver equivalent (“g/t AgEq1”) from 53.9 m (246 g/t Ag, 0.39 g/t gold (“Au”), 6.5% lead (“Pb”) and 0.4% zinc (“Zn”)) within a 37.1 m interval averaging 113 g/t AgEq1 (47 g/t Ag, 0.09 g/t Au, 1.1% Pb, 0.4% Zn); and Hole C20-360: 0.5 m averaging 1,765 g/t AgEq1 from 100.9 m (665 g/t Ag, 0.58 g/t Au, 13.8% Pb and 13.7% Zn. Josefina Vein Trend - Hole C20-361: 3.3 m averaging 612 g/t AgEq1 from 64.2 m (196 g/t Ag, 0.17 g/t Au, 5.6% Pb and 4.9% Zn) within a 41.7 m interval averaging 131 g/t AgEq1 (58 g/t Ag, 0.10 g/t Au, 0.7% Pb and 1.0% Zn); and Hole C20-367: 1.6 m averaging 544 g/t AgEq1 from 175.6 m (75 g/t Ag, 1.42 g/t Au, 1.6% Pb and 7.1% Zn) within a 53.2 m interval averaging 113 g/t AgEq1 (20 g/t Ag, 0.11 g/t Au, 0.3% Pb and 1.8% Zn).

Taj Singh, President and CEO, said, “We continue to confirm and expand the strike extent of the high-grade vein systems at Cordero. Step out holes at Parcionera have doubled the drill-confirmed strike extent to at least 1 km with clear potential for further expansion to the northeast. A review of historic drill core also indicates that Parcionera has a depth extent of at least 470 m. Drilling at the Josefina vein trend intercepted high-grade veins, several of which were within broader zones of disseminated mineralization. This opens the possibility of expanding the higher-grade bulk-tonnage domain to the east, potentially incorporating sections of the Josefina vein trend. We look forward to the results of follow-up drilling targeting this potential expansion.”

The Parcionera vein trend consists of multiple southwest-trending veins and vein splays. The four holes in this release were successful in establishing and extending the strike continuity of the vein trend to the northeast. Based on drilling and historic underground workings the Parcionera vein trend now has an interpreted strike extent of at least 1 km and depth extent of at least 470 m and is open along strike and at depth. The veins at Parcionera dip steeply to the northwest and vein mineralization typically consists of semi-massive pyrite, galena and sphalerite.

The Josefina vein trend consists of multiple southwest-trending subparallel veins. The six holes in this release were successful in establishing approximately 1 km of strike continuity along the Josefina trend based on drilling and historic underground workings. Several of the high-grade veins were intercepted within broader zones of disseminated mineralization including holes C20-361 (41.7 m averaging 131 g/t AgEq1) and C20-367 (53.2 m averaging 113 g/t AgEq1). Historic drill hole C11-158 (48.0 m averaging 163 g/t AgEq1 and 22.0 m averaging 379 g/t AgEq1) also confirms the depth continuity of the Josefina veins and disseminated mineralization intercepted in C20-361 to at least 300 m below surface. Further drilling to test the potential eastern expansion of the higher-grade bulk-tonnage domain to the northeastern section of the Josefina vein trend is ongoing. The veins along the Josefina trend dip steeply to the northwest and mineralization typically consists of semi-massive pyrite, galena and sphalerite. Disseminated mineralization surrounding the veins consists of galena and sphalerite in disseminations, veinlets and stockworks hosted in dacite, sedimentary rock and breccias.