Discovery Silver Corp. announce results from 17 holes from its Phase 2 drill program on its flagship Cordero silver project ("Cordero" or "the Project") located in Chihuahua State, Mexico. This current set of results was predominantly targeting the expansion of the open pit and the resource in the northeast of the deposit.

C21-575 intercepted a high-grade zone outside the current resource that returned 45.6 m averaging 328 g/t AgEq1 from 327.0 m (125 g/t Ag, 0.54 g/t Au, 2.0% Pb and 2.7% Zn) including 17.4 m averaging 674 g/t AgEq1 (254 g/t Ag, 0.94 g/t Au, 4.0% Pb & 6.1% Zn). C21-573 intercepted 38.6 m averaging 189 g/t AgEq1 from 191.8 m (91 g/t Ag, 0.11 g/t Au, 1.3% Pb and 1.3% Zn) beneath the PEA pit. C21-538 intercepted near-surface mineralization on the margins of the PEA pit that returned 32.3 m averaging 142 g/t AgEq1 from 28.5 m (70 g/t Ag, 0.12 g/t Au, 0.8% Pb and 1.0% Zn).

This current set of Phase 2 drill holes was focused on expansion of the open pit and the resource in the northeast of Cordero, an area of the deposit that has seen significantly less drilling. The results will be incorporated in a resource update and Pre-Feasibility Study scheduled for completion in the fourth quarter of this year. Hole C21-575 was drilled beneath the resource pit outline in the northeast of the North Corridor to target potential resource expansion at depth.

Drilling intercepted a broad zone of stockwork and vein mineralization approximately 100 m below the resource pit that returned 45.6 m of 328 g/t AgEq1. Hole C21-573, drilled 100 m along strike of this hole to the southwest, returned 38.6m of 189 g/t AgEq1 from 191.8 m, representing the potential extension of the high-grade zone encountered in C21-575. The Company's first deep drilling in the northeast of the deposit encountered green skarn alteration with sulphides.

This new style of alteration was intercepted well below the existing resource, starting at a vertical depth of approximately 600 m, and across a strike length of at least 450 m. Highlight intervals from this drilling include 177.4 m averaging 74 g/t AgEq1 (C21- 567), 32.9 m averaging 123 g/t AgEq1 (C21-569), 41.6 m averaging 86 g/t AgEq1 (C21-572) and 18.7 m averaging 109 g/t AgEq1 (C21-566). Results from this initial drilling highlight the significant depth extent of the mineralizing fluid conduits at Cordero and will be reviewed along with subsequently completed drill holes to vector towards areas of more intense skarn alteration that have the potential to host high-grade mineralization.