Discovery Silver Corp. announced it has formally submitted for evaluation its Environmental Impact Assessment for its Cordeo silver project located in Chihuahua State, Mexico. The submission was made to Secretaria de Medio Ambiente y Recursos Naturales, the federal government agency responsible for evaluating MIA submissions.

The MIA is one of the principal permits required for the development of Cordero and encapsulates extensive social and environmental work programs completed by the Company's team in Mexico since 2020 in parallel with multiple reviews by third-party consultants. The submission is supported by comprehensive environmental and social baseline assessment work and outlines detailed plans for the responsible and sustainable development of the Cordero Project. The Company looks forward to building on these efforts through expanded social programs during development and operations and to realizing the sustainable benefits that come with a sizeable work force of over 1,000 employees during the construction phase and long-term direct employment of 900 people when the phase two expansion is complete.

It is anticipated that a large majority of employees will come from local communities in the Parral municipality given an already significant mining industry presence in the region and the existence of a mining-focused technical university located in the town of Parral. The development and operation of Cordero will also create significant long-term business opportunities for local, regional and national service providers and suppliers at what will be one of the largest mining projects in Mexico. In total there will be an expected USD 4 billion of goods and services purchased locally within Mexico over the life of the mine.

This will provide the opportunity to expand supply chains for critical strategic mines in Mexico with the potential for sizeable volumes of long-term base metals concentrate supplies for Mexican smelters. In addition, the Project is expected to contribute more than USD 1.2 billion in direct mining taxes and royalties to the Mexican government. Combined, these benefits create a strong basis for government support of long-term investment for the responsible development of Cordero to the benefit of all stakeholders.

The Company is also committed to employing global best practice standards for the management of its environmental programs over the life of the project. A reflection of this commitment is the recent receipt of the Environmental Quality Certification issued by the Federal Attorneys for Environmental Protection (PROFEPA) in recognition of the Company's compliance with the National Environmental Audit Program.