Reserve And Resource Expansion Drilling At Cordero Project

TORONTO - Discovery Silver Corp. reported on the Feasibility Study drill holes on the Cordero silver project located in Chihuahua State, Mexico. These holes consist of reserve and resource expansion drilling and will be incorporated in a Feasibility Study in conjunction with a resource update planned for the first half of 2024.

Highlight intercepts from this current set of drill holes include: 1) 32 m averaging 158 g/t AgEq1 (77 g/t Ag, 0.16 g/t Au, 0.7% Pb and 1.3% Zn) from 108 m and 39 m averaging 241 g/t AgEq1 (124 g/t Ag, 0.09 g/t Au, 1.2% Pb and 1.9% Zn) from 185 m within the reserves pit in the South Corridor in hole C22-677. 2) 36 m averaging 126 g/t AgEq1 (35 g/t Ag, 0.06 g/t Au, 0.7% Pb and 1.7% Zn) from 481 m and 27 m averaging 133 g/t AgEq1 (25 g/t Ag, 0.06 g/t Au, 0.6% Pb and 2.2% Zn) from 555 m in hole C22-687; these intervals were toward the bottom and beneath the reserves pit in an area previously modeled as waste. 3) 15 m averaging 370 g/t AgEq1 (137 g/t Ag, 0.05 g/t Au, 3.1% Pb and 3.5% Zn) from 50 m and 23 m averaging 141 g/t AgEq1 (55 g/t Ag, 0.04 g/t Au, 0.9% Pb and 1.5% Zn) from 143 m in hole C22-671; these intervals were approximately 1.5 km northeast of the reserves pit.

Tony Makuch, CEO, said, “Our recent Pre-Feasibility Study outlined the potential for Cordero to become a top three primary silver mine globally based on average annual production of 33 Moz AgEq over an 18-year mine life. Our follow up drilling since this study demonstrates there is further growth potential still to be realized within our upcoming Feasibility Study. Drilling has returned a number of higher-grade intercepts within and below the reserves pit in areas that were previously modeled as low-grade or waste demonstrating the potential to further lower the strip ratio through converting waste to ore within the pit and to expand the pit at depth.

We are also excited about the district-scale potential on our large land package. At Sanson, located 3.5 km northeast of Cordero, and Dos Mil Diez, 1.5 km to the southeast, we have identified large chargeability anomalies with similar intensity to the ore body at Cordero. Surface mapping at both targets has established intense alteration with anomalous levels of pathfinder elements. We look forward to the commencement of drilling at these targets over the coming months.”