Discovery Announces Positive Drilling Results from All Operations at Porcupine Complex

Executive Summary

• Discovery Silver reported initial assay results from 85 holes (27,640 m) across four key Porcupine Complex projects, delivering multiple high‑grade gold intercepts that materially expand the resource potential at Hoyle Pond, Borden, Pamour and Owl Creek.
• Notable high‑grade hits include 86.09 g/t Au over 2.1 m (including 360 g/t over 0.5 m) at Hoyle Pond and 48.82 g/t Au over 5.0 m at Owl Creek, underscoring significant upside for future NI‑43‑101 resource updates.
• The company launched new drilling campaigns at Dome Mine (≈7,500 m planned) and TVZ Zone (≥25,000 m targeted by Q1 2026), positioning the Porcupine Complex for a major resource conversion and expansion effort.

Key Details

• Overall program: 85 holes, 27,640 m drilled between Apr‑Oct 2025; part of a 140,000 m total exploration plan.
• Hoyle Pond (23 holes, 5,877 m):
• 23.95 g/t Au over 7.1 m (hole 27682)
• 86.09 g/t Au over 2.1 m (incl. 360 g/t Au over 0.5 m) – hole 27701
• 150.00 g/t Au over 1.3 m (incl. 302 g/t Au over 0.4 m) – hole 27657
• Additional intercepts: 35.98 g/t over 2.9 m; 75.5 g/t over 1.0 m; 11.65 g/t over 2.28 m, etc.
• Borden (19 holes, 4,360 m):
• 11.48 g/t Au over 5.2 m (incl. 15.49 g/t over 3.2 m) – hole 585‑00099
• 9.41 g/t Au over 12.6 m (incl. 19.29 g/t over 5.2 m) – hole 585‑00102
• 13.88 g/t Au over 6.9 m (incl. 18.99 g/t over 4.8 m) – hole 585‑00159
• Pamour (32 holes, 10,144 m):
• Multiple long intercepts >1 g/t Au over >50 m (e.g., 1.44 g/t over 104.6 m; 2.03 g/t over 25.8 m).
• High‑grade short hits: 48.82 g/t Au over 5.0 m (hole PAM25‑0041); 3.42 g/t over 19.9 m; 3.40 g/t over 39.8 m, etc.
• Owl Creek (11 holes, 6,689 m):
• 4.08 g/t Au over 16.3 m (incl. 9.81 g/t over 3.9 m) – hole OC25‑001
• 5.58 g/t Au over 5.2 m (incl. 17.63 g/t over 1.1 m) – hole OC25‑006
• 48.82 g/t Au over 5.0 m (historic) and new high‑grade results confirming extension potential.
• Abandoned holes: 15 holes (959 m) at Hoyle Pond, 5 holes (392 m) at Owl Creek due to excessive deviation – noted for program efficiency.
• New drilling programs:
• Dome Mine: Commenced Sep 2025; ~7,500 m planned to support a new resource estimate and potential upgrade of part of the 11 Moz inferred resource to indicated.
• TVZ Zone (Hoyle Pond): Started Oct 2025; target ≥25,000 m by early 2026 for initial NI‑43‑101 resource.
• CEO comment (Tony Makuch): Emphasized “substantial gold remains to be identified,” highlighted extension of S‑Zone at Hoyle Pond, high‑grade hits at Owl Creek, and the strategic importance of Dome and TVZ projects for future production growth.

Notable Quotes

“The drill results announced today support our view that substantial gold remains to be identified at Discovery’s assets at Porcupine… We are targeting approximately 25,000 m of drilling at TVZ by early next year as we work towards releasing an initial NI‑43‑101 resource for the project.” – Tony Makuch, President & CEO

Materiality Assessment: Material – Positive (high‑grade intercepts and new large‑scale drill programs materially enhance the company’s resource base and growth outlook).