February 21, 2020, Toronto, Ontario - Discovery Metals Corp. (TSX-V: DSV, OTCQX: DSVMF) (“Discovery” or the “Company”) is pleased to announce it has been named to the TSX Venture Exchange’s 2020 Venture 50™ (“Venture 50”).

The Venture 50 award goes to the top 10 companies listed on the TSX Venture Exchange (“TSX-V”) in each of five major industry sectors. The ranking formula is based on three equally weighted criteria: 1) year-over-year share price appreciation; 2) growth in market capitalization and; 3) trading volume growth. Based on these criteria, Discovery ranked in the top 10 out of more than 900 mining companies listed on the TSX-V.

Taj Singh, President and CEO, states: “2019 was a transformative year for Discovery owing to the acquisition of the Cordero project mid-year. We are very pleased that the work we have done post-acquisition in conjunction with a strengthening silver price has translated to strong market performance culminating in being named to the Venture 50. With four drill rigs now turning at Cordero and a clear focus on building a tier one silver company, we look forward to continued momentum in our story in 2020 and beyond.”

Discovery’s Venture 50 profile video can be found at https://player.vimeo.com/video/392766285 and more information on the 2020 Venture 50 can be found at www.tsx.com/venture50.

About Discovery

Discovery Metals Corp. (TSX-V: DSV, OTCQX: DSVMF) is a Canadian exploration and development company headquartered in Toronto, Canada, and focused on historic mining districts in Mexico. Discovery’s flagship is its 100%-owned Cordero silver project in Chihuahua State, Mexico. The 35,000-hectare property covers a large district that hosts the announced resource as well as multiple exploration targets for bulk tonnage diatreme-hosted, porphyry-style, and carbonate replacement deposits. In addition, Discovery is also exploring multiple high-grade carbonate replacement-style silver-zinc-lead showings in a land package of approximately 150,000 hectares in Coahuila State, Mexico. Although the land holdings contain numerous historical direct-ship ore workings and significant underground development, no drill-testing has ever been carried out.

For further information contact:

Forbes Gemmell, CFA
VP Corporate Development & Investor Relations
forbes.gemmell@dsvmetals.com
416-613-9414

On Behalf of the Board of Directors,
Taj Singh, M.Eng, P.Eng, CPA
President, Chief Executive Officer, and Director

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. 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. There can be no assurance that the Private Placement will close on the announced terms. Discovery does not assume any obligation to update any forward-looking statements except as required under applicable laws.