News Release

Discovery Silver Announces AGM Results

June 28, 2021

June 28, 2021, Toronto, Ontario - Discovery Silver Corp. (TSXV: DSV; OTCQX: DSVSF) (“Discovery” or “the Company”) is pleased to announce the results of voting at its Annual General Meeting held Friday, June 25, 2021. Shareholders voted in favour of all items put forward by the Board of Directors (“the Board”) and Management.

Shareholders voted in favour of the election of all director nominees: Murray John (Chair); Taj Singh; Mark O’Dea; Jeff Parr; Moira Smith; Daniel Vickerman; and Jennifer Wagner.

Mr. Vic Chevillon and Mr. Jesus Hernandez-Garza did not stand for re-election for the ensuing year.

Taj Singh, President and CEO states: “Discovery would like to thank both Vic and Jesus for their contributions to our success over their tenure and we look forward to working with them as advisors to the Company. On behalf of the Board, I would like to specifically acknowledge the integral role Vic had on the discovery and early development of the Cordero project, paving the way for it to become one of the largest primary silver deposits globally.”

Shareholders also voted in favour of (i) appointing PricewaterhouseCoopers LLP, Chartered Accountants, as auditors of the Company for the ensuing year and authorizing the Directors to fix their remuneration; (ii) fixing the number of directors on the Company’s Board at seven (7) persons; (iii) re-approving and ratifying the Company’s Stock Option Plan and (iv) re-approving and ratifying the Company’s Restricted Share Unit Plan and Deferred Share Unit Plan. A total of 192,911,705 Discovery common shares were voted, representing 59.4% of total shares issued and outstanding as at the record date of the meeting.

On Behalf of the Board of Directors,

Taj Singh, M.Eng., P.Eng., CPA
President, Chief Executive Officer, and Director

About Discovery
Discovery’s flagship project is its 100%-owned Cordero project, one of the few silver projects globally that offers 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$85 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.

For further information contact:
Forbes Gemmell, CFA
VP Corporate Development & Investor Relations

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.

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