November 2, 2021, Toronto, Ontario - Discovery Silver Corp. (TSX-V: DSV, OTCQX: DSVSF) ("Discovery" or the "Company") is pleased to announce that it has produced its first Environmental, Social and Governance ("ESG") report, setting out the Company's current practices and priorities going forward.

Taj Singh, President and CEO, states: "We are excited to share our inaugural ESG report as part of Discovery's evolution. We believe that ESG management is a key component of delivering long-term value and business resiliency. As we grow, we want to manage ESG issues responsibly and transparently; this means empowering our people to continuously evolve and innovate, maintain an accountable and transparent health and safety culture, create shared and mutually beneficial relationships with our local communities, and minimize our impact on the environment. We recognize that social and environmental stewardship combined with ethical, transparent governance drives performance."

"Silver has an important role to play in the world's clean energy future. This precious metal is gaining attention as one of the most important "green" metals because of its critical role across many green energy technologies. Considering the status of our Cordero Project as one of the world's largest development-stage silver deposits globally, I'm excited about the opportunity we have at Cordero to produce this critical resource to support a more sustainable future."

The full ESG Report is available for download at: www.discoverysilver.com/sustainability

Highlights of the Report (all $ amounts in Canadian dollars)*:

• Over $1.7 million in goods and services purchased from local Mexican businesses;

• Over $1.3 million in salaries and benefits paid to local employees;

• Total workforce of 124 includes 58 employees and 66 contractors;
- Employees: 89% Mexican nationals, 11% Canadian
- Contractors: 98% Mexican nationals, 2% Canadian

• Total GHG emissions of 167 tonnes of CO₂ equivalent;

• Total water withdrawal of 36,017 m³ and total water discharged of 36,007 m³; and

• Zero fatalities and only 5 first-aid incidents

*Data based on 2020 calendar year

About Discovery

Discovery's flagship project is its 100%-owned Cordero project, one of the world's largest silver deposits and one of the very few that offers the combination of margin, size and scaleability. Cordero is located close to infrastructure in a prolific mining belt in Chihuahua State, Mexico, and is supported by an industry leading balance sheet with over C$70 million available for aggressive exploration, resource expansion and future development. Discovery was a recipient of the 2020 TSX Venture 50 award and the 2021 OTCQX Best 50 award.

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

For further information contact:

Forbes Gemmell, CFA
VP Corporate Development & Investor Relations
Phone: 416-613-9410
Email: forbes.gemmell@discoverysilver.com
Website: www.discoverysilver.com

FORWARD-LOOKING STATEMENTS:

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 statements. Forward-looking statements including, but not limited to Discovery's future plans and objectives in the areas of sustainable development, health, safety, environment, community development, the Cordero , Puerto Rico, Minerva and Monclova projects, and the prospect of further discoveries there, constitute forward looking information that involve various risks and uncertainties. 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. Discovery does not assume any obligation to update any forward-looking statements except as required under applicable laws.