Discovery Silver Corp. announce results from 12 diamond drill holes targeting the Josefina and Todos Santos high-grade vein trends at its flagship Cordero project ("Cordero" or "the Project") located in Chihuahua State, Mexico. Multiple vein trends with a combined strike extent of more than 5 km flank the higher-grade bulk-tonnage domain at Cordero; the Josefina and Todos Santos vein trends currently represent approximately 3 km of this strike extent. The Josefina vein trend consists of two principal southwest-trending subparallel veins with an interpreted strike extent of approximately 1.5 km. The four holes in this release were successful in confirming continuity of bonanza grade mineralization along the central part of the vein trend. High-grade veins were intercepted within broader zones of mineralization in all four holes pointing to the bulk-tonnage potential in this part of the deposit. The veins along the Josefina trend dip steeply to the northwest and mineralization typically consists of semi-massive galena, sphalerite and pyrite. Drilling has confirmed the depth continuity of veins at Josefina to approximately 370 m below surface. The vein trend is open at depth below this and along strike in both directions. The Todos Santos vein trend, consisting of the Main Vein and Footwall Vein, has an interpreted southwest strike extent of at least 1.5 km and depth extent of at least 400 m based on historic underground workings and drilling. Drilling in the southwest of the Main Vein was successful in extending the drill-confirmed strike extent by 250 m with C21-418 returning 2.1 m averaging 558 g/t AgEq. Drilling also confirmed the strike extent of the Footwall Vein extends to the northeast well beyond the previous PEA pit limit with C21-409 returning 1.0 m averaging 589 g/t AgEq. The Todos Santos vein trend remains open along strike in both directions beyond these holes and at depth. High-grade mineralization in both the Main Vein and Footwall Vein is typically associated with quartz-carbonate veins that dip steeply to the northwest. Mineralization typically consists of galena, sphalerite and pyrite. The true width of the veins is estimated to be approximately 70% of the drilled width. Phase 1 drilling: The Company's Phase 1 drill program concluded at the end of April. The data from the 75,000 m of drilling (178 holes) completed in this program will be used to support the resource update (3Q 2021) which the PEA (4Q 2021) will be based on. Phase 2 drilling: The Company has completed 5,000 m (13 holes) as part of its Phase 2 drill program which will be ongoing through the remainder of the year. Phase 2 drilling will be focused on three key areas: (1) upgrading inferred resources for inclusion in a prefeasibility study; (2) resource expansion of bulk-tonnage mineralization; and (3) 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.