Discovery Reports Positive Drill Results at Key Growth Projects, Resource Estimates for Dome and TVZ on Track for Late 2026

Discovery Silver Corp. (DSV) released results from 55 holes totaling 17,845.5 meters at Dome, TVZ, and Owl Creek, part of ongoing exploration at the Porcupine Complex.

Key intercepts include: - Dome: DOM26-050 returned 9.09 g/t Au over 17.3 m (including 14.76 g/t over 7.8 m), while DOM26-005 hit a bonanza 278.48 g/t over 1.1 m (incl. 951 g/t over 0.3 m). - TVZ (Hoyle Pond underground): Wide intercepts from 1210 level, e.g., 5.65 g/t over 30.5 m (hole 27976), 5.73 g/t over 23.2 m (27972). 1680 level: 4.30 g/t over 24.4 m (27899). - Owl Creek: OC26-045A with 19.35 g/t over 5.4 m (incl. 270 g/t over 0.3 m), and broader zones like 4.72 g/t over 24.0 m (OC26-040).

The company states these results demonstrate strong continuity and support resource estimates for Dome and TVZ by late 2026, with potential annual production contribution of 250k-500k oz Au.

Discovery Silver Corp. (DSV) reported infill and step-out drill results from its development projects, which are not yet in production. The company noted that these results support its resource update timeline and growth narrative but do not change the investment thesis, as the market already expects Dome and TVZ to become future mines. Prior drill results have been equally strong, including Hoyle Pond S Zone 59 g/t over 6.2 m and TVZ 72 g/t over 3.8 m. The current release lacks a “company-maker” intercept.

The stock chart shows a modest uptrend from $7.24 in mid-June to $9.51 pre-release. The results are likely already priced in given ongoing news flow. The Kidd acquisition, which closed, and an increased credit facility have been more material catalysts for the stock. These drill results are routine for an active exploration program and do not materially alter the NAV or resource base.

Discovery Silver Corp. (now operating as Discovery Mining) acquired the Porcupine Complex in April 2025, becoming a gold producer with mines Hoyle Pond, Borden, and Pamour. The company has issued 2026 production guidance of 260-300 koz. It also owns the Cordero silver project in Mexico, for which a feasibility study is complete. Additionally, the company recently acquired Kidd Operations, including the met site, tailings, and Kidd Creek mine, to secure processing leverage and critical minerals exposure. Discovery Silver holds significant cash of $385M and has access to a $250M credit facility. Exploration efforts are heavily weighted toward resource conversion and expansion at multiple targets.