On January 27, 2025, Discovery announced that it had entered into a definitive agreement to acquire from a wholly owned subsidiary of Newmont Corporation, 100% ownership in Newmont’s Porcupine Complex, based in and near Timmins, Ontario, Canada.

The acquisition will establish Discovery as a new growing Canadian gold producer with a large Mineral Resource in a Tier 1 jurisdiction with significant operational and exploration upside potential. It brings to the Porcupine Complex a management team, led by Tony Makuch, that is highly experienced operating in the Timmins Camp. With the addition of the Porcupine Complex, Discovery will have a diversified portfolio with the strength of Porcupine expected to support the financing, and ultimate development and operation, of the Company’s Cordero silver project (“Cordero”), one of the world’s largest undeveloped silver projects based on Mineral Reserves and expected production.

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