Discovery Silver Corp. announced results from its Feasibility Study metallurgical test program from its Cordero project located in Chihuahua State, Mexico. Highlights from the test work include: Increased silver recoveries of up to 7% to the precious metals concentrate where higher payabilities are received.

Blasting study showed run-of-mine material to be smaller than previously estimated allowing for a smaller primary crusher. Previous test work established excellent recoveries for different mining phases and variable grade profiles to generate clean, saleable concentrates. The FSmetallurgical test program was focused on optimizing metallurgical performance for a run-of-mine composite with process variables such as reagent dosage and type, grind size and the testing of oxide-sulphide blends with oxides above 10%.

In total 12 locked cycles test were completed. Optimization testwork was completed on a master composite representing a blend of rock types consistent with the life-of-mine average and an oxide-sulphide blend of 10% oxides and 90% sulphides. The grade of this composite was approximately 35 g/t Ag, 0.5% Pb and 0.7% Zn.

Recoveries for lead were slightly higher than the PFS testwork while zinc recoveries were slightly lower. A comparison of the FS and PFS test results, which were based on the same composite sample. Reagents: the FS testwork was successful in achieving improved recoveries as outlined above at significantly reduced consumption of key reagents.

Test results including the costs that each reagent represented in the PFS are summarized in the table below. Locked cycle flotation tests were completed on the run-of-mine composite With primary grind sizes of 150 um, 200 um and 230 um. Increasing the blend to up to 15% oxides offers more flexibility for mine planning purposes and has the potential to increase the mine life given there was approximately 30 million tonnes of unprocessed stockpiled oxides material above cut-off in the PFS mine plan.

This change was based on results from an ore blasting study that demonstrated run-of-mine material To be delivered to the plant is smaller than what was assumed in the PFS. The PFS completed in January 2023 demonstrates that Cordero has the potential to be developed into a highly capital efficient mine that offers the combination of margin, size and scalability. In this news release, forward-looking statements relate, among other things, to: the anticipated use of the net proceeds from the Offering; anticipated advancement of mineral properties or programs; future operations; future growth potential of Discovery; future growth potential of Discovery, and future development plans.

Such factors include, among others: risks related to the speculative nature of the Company's business; the Company's formative stage of development; the impact of COVID19 on the timing of exploration and development work; the Company's financial position; possible variations in mineralization, grade or recovery rates; actual results of current exploration activities; conclusions of future economic evaluations; fluctuations in general macroeconomic conditions; fluctuations in spot and forward prices of gold, precious and base metals or certain other commodities; fluctuations in currency markets; change in national and local government, legislation, taxation, controls regulations and political or economic developments; risks and hazards associated with the business of mineral exploration, development and mining (including environmental hazards, industrial accidents, unusual or unexpected formation pressures, cave-ins and flooding); inability to obtain adequate insurance to cover risks and hazards; the presence of laws and regulations and political or economic developments.