Discovery Silver Corp. announced results from the first 13 holes from its Phase 2 drill program on its Cordero silver project located in Chihuahua State, Mexico. This current set of holes is focused on upgrading resources for inclusion in a prefeasibility study planned for 2022. The Company also wishes to advise that its resource update, originally scheduled for release at the end of this month, has been delayed slightly due to the inclusion of additional drill metres and is now expected to be completed in the middle of October. The preliminary economic assessment (“PEA”) is on track for completion in fourth quarter of 2021. Highlight intercepts include: 73.1 m averaging 241 g/t AgEq1 from 75.0 m (104 g/t Ag, 0.06 g/t Au, 0.8% Pb and 2.5% Zn) in hole C21-510 - 133.8 m averaging 103 g/t AgEq1 from 69.0 m (39 g/t Ag, 0.07 g/t Au, 0.8% Pb and 0.7% Zn) in hole C21-523 - 28.6 m averaging 300 g/t AgEq1 from 265.5 m (101 g/t Ag, 0.12 g/t Au, 1.6% Pb and 3.2% Zn) including 9.4 m averaging 759 g/t AgEq1 (257 g/t Ag, 0.26 g/t Au, 4.1% Pb & 8.1% Zn) in hole C21-519 - 22.6 m averaging 298 g/t AgEq1 from 409.8 m (94 g/t Ag, 0.11 g/t Au, 1.7% Pb and 3.3% Zn) in hole C21-537. DRILL RESULTS: The initial drill holes from Phase 2 drilling were predominantly focused on the South Corridor and in the Northeast Extension of the North Corridor. This set of holes were targeting improved definition of high-grade zones within the bulk-tonnage domain and will be included in a prefeasibility study on the Project planned for 2022. Hole C21-510, drilled in the northeast section of the South Corridor, targeted the up-dip extension of the mineralized zone intercepted in C20-375 (37.1 m of 223 g/t AgEq1 from 143.7 m within 131.6 m of 128 g/t AgEq1) and returned 73.1 m of 241 AgEq1 from 75.0 m. Hole C21-525 confirmed the down-dip continuity of disseminated mineralization along the Josefina vein trend at depth returning 29.1 m of 208 g/t AgEq1 from 484.6 m and 27.8m of 146 g/t AgEq1 from 529.1 m. Other holes drilled in the central part of the South Corridor were also successful in confirming continuity of higher-grade zones with highlight intercepts including 28.6 m of 300 g/t AgEq1 from 265.5 m (C21-519), 50.4 m of 125 g/t AgEq1 from 233.2 m (C21-515) and 31.2 m of 160 g/t AgEq1 from 378.1 m (C21-507). In the Northeast Extension zone in the North Corridor, hole C21-523 confirmed the up-dip extension of the mineralized zone intercepted in C20-319 (168.8 m of 207 g/t AgEq1 from 140.0 m) returning 133.8 m of 103 g/t AgEq1 from 69.0 m. DRILL PROGRAM UPDATE: The Company has now completed 22,000 m (44 holes) as part of its Phase 2 drill program (excluding drill metres used to support the updated resource). Assays from 32 holes are pending. Phase 2 drilling will continue through the remainder of the year and will be focused on three key areas: upgrading inferred resources for inclusion in a prefeasibility study planned for 2022; resource expansion of bulk-tonnage mineralization; and testing of the width, grade and continuity of the extensive high-grade vein systems that transect the deposit. There are currently four drill rigs operating on site. Despite the increased risk that the Delta variant poses to future exploration at the Project, Phase 2 drilling is progressing as planned.