Hoyle Pond1
Hoyle Pond: Drilling expands high-grade mineralization at depth2
- S Zone: 13.52 gpt over 9.1m3; 45.77 gpt over 4.1m, including 133.00 gpt over 0.6m; 5.69 gpt over 8.5m
TVZ: Drilling intersects additional wide high grades from the 1210 and 1680 levels4
- TVZ1: 72.46 gpt over 3.8m, including 770.00 gpt over 0.3m; 27.91 gpt over 0.9m; 6.14 gpt over 5.4m
- Main Zone (TVZ2): 4.39 gpt over 9.2 m; 4.23 gpt over 55.0m, including 5.39 gpt over 27.0m; 4.32 gpt over 19.0m, including 5.82 gpt over 9.0m; 4.24 gpt over 10.2m; 3.87gpt over 25.0m, including 6.41 gpt over 11.0m; 3.42 gpt over 33.5m, including 5.18 gpt over 9.1m
- Splay Veins:4.36 gpt over 22.0m, including 13.33gpt over 4.44m; 6.13 gpt over 7.4m; 7.81 gpt over 4.1m
Owl Creek: Drilling expands deposit footprint and identifies wide high-grade core at Owl Creek; Highlights potential at 750 Zone4
- Owl Creek: 4.11 gpt over 30.0m, including 9.04 gpt over 3.0m, and including 7.17 gpt over 3.0m, and including 5.24 gpt over 10.1m, 4.13gpt over 13.8m including 7.53 gpt over 7.0m and; 2.38gpt over 35.5m including 6.05gpt over 3.2m and 4.97gpt over 2.1m.
- 750 Zone: 5.76gpt over 4.5m and 2.57gpt over 8.9m
Borden1
Main Zone: Drilling extends mineralization down plunge and to the east of current resource2
- 18.85 gpt over 3.1m; 4.42 gpt over 16.6m, including 7.39 gpt over 6.3m; 10.04 gpt over 13.7m, including 21.01 gpt over 3.8m; 7.14 gpt over 12.3m; 5.54 gpt over 12.6m, including 12.12 gpt over 4.5m; 9.39 gpt over 12.9m; 8.30 gpt over 10.2m; 6.51 gpt over 11.3m; 4.85 gpt over 14.2m; 5.30 gpt over 13.0m
East Lower Zone: Drilling highlights expansion potential on structure parallel to Main Zone2
- 6.87 gpt over 21.0m, including 9.08 gpt over 9.1m; 6.24 gpt over 15.7m, including 7.68 gpt over 7.9m; 7.13 gpt over 10.9m, including 10.79 gpt over 5.8m; 5.35 gpt over 15.1m, including 8.60 gpt over 6.5m
Pamour1
Pamour: Drilling continues to confirm and expand current open pit resources4
- West Pit: 1.35 gpt over 65.7m; 1.35 gpt over 24.5m; 1.34 gpt over 56.1m; 1.29 gpt over 41.4m
- Central Pit: 1.15 gpt over 109m; 5.25 gpt over 19.7m; 2.29 gpt over 45.3m; 1.36 gpt over 54.1m
- East Pit: 1.94 gpt over 28.5m; 4.54 gpt over 12.6m; 2.95 gpt over 12.6m; 1.66 gpt over 31.1m
Pamour West: Continued positive results to west of current Pamour resource4
- 2.14 gpt over 18.3m ; 6.84 gpt over 7.5m; 1.84 gpt over 6.0m; 1.77 gpt over 5.9m; 5.67 gpt over 3.2m; 3.01 gpt over 3.8m; 9.35 gpt over 3.7m and 2.49 gpt over 7.7m
North Contact Zone: Drilling identifies new mineralization north of phase 2 pit4
- 2.52 gpt over 20.0m; 0.78 gpt over 35.5m; 24.11 gpt over 8.0m, including 596.0 gpt over 0.3m; 1.45 gpt over 23.1m; 1.70 gpt over 23.9m, including 20.70m over 1.0m
Dome1
Continued drilling success to northeast and southwest; Resource update on track for late 20264
- 1.19 gpt over 35.2m; 3.16 gpt over 15.0m; 1.19 gpt over 28.9m; 1.13 gpt over 29.7m; 1.01 gpt over 20.0m; 2.77 gpt over 10.9m and; 1.21 gpt over 11.3m; 0.60 gpt over 8.2m and , 3.11gpt over 3.5m
- All assays are reported uncut.
- Intervals are reported using both true widths and core lengths.
- In this news release, “gpt” refers to grams per tonne, and “m” refer to metres.
- Intervals are reported using core lengths only as true widths are not known at this time.
TORONTO, April 23, 2026 (GLOBE NEWSWIRE) -- Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF) (“Discovery” or the “Company”) today reported results from ongoing exploration at the Company’s Porcupine Operations, including Hoyle Pond Mine, Borden Mine and Pamour Mine, as well as at the Dome and TVZ advanced stage growth projects and regional exploration targets. The results include assays from a combined total of 143 holes1 (44,740 m), completed between Q4 2025 and Q1 2026.
Tony Makuch, Discovery’s CEO, commented: “We continue to get excellent results from our ongoing aggressive exploration program at Porcupine. Today’s results include additional success with resource conversion and extension drilling at Hoyle Pond, Borden and Pamour, encouraging results at new targets at or near these operations, and favourable results at our near-term growth projects and key regional targets. At Hoyle Pond, we continued to extend the S Zone to depth, recorded the highest-grade intersection to date at TVZ, and continued to demonstrate TVZ’s attractive depth potential, and also had very encouraging results from the Owl Creek and 750 Zone regional targets located along the Hoyle Pond belt.
“Turning to Borden, we extended mineralization down plunge and to the east in the Main Zone and also recorded encouraging results from the East Lower Zone, a parallel structure to the main mining trend. These latest results, along with wide-spaced surface drilling, provide us with a high level of confidence in the potential for significant resource growth as drilling continues.
“At Pamour, we achieve excellent results from ongoing resource conversion and expansion drilling along the three phases of the current pit design. We also generated positive results from drilling at Pamour West, highlighting the potential for new resources west of the current Pamour operations. In addition, we were particularly encouraged by drill results from a large, untested gap in previous drilling at the North Contact Zone, located along a major east – west trending volcanic sedimentary contact directly north of the phase 2 pit.
“Finally, we reported additional positive results from confirmation and extension drilling at Dome in the southwest and northeast portions of the property. Dome is a key potential value generator for Discovery, with an 11.0 million ounce inferred resource, an existing open pit and the Dome Mill located directly adjacent to the pit. Drilling in the northeast part demonstrated a close correlation of geology, with new drilling including similar or better grades and widths compared to historic holes. Drilling in the southwest portion of the property identified new areas of mineralization at shallow depths from surface. With the success we are having, and the additional drilling that is planned, we remain on track to release an updated mineral resource at Dome late this year.”
Hoyle Pond Mine
Drilling at the Hoyle Pond Mine included a total of eight holes (2,814.0 m) to test the Lower S Zone. Of the holes drilled, three holes (237 m) were abandoned due to drilling challenges or excessive deviation from the target.
The Hoyle Pond Mine is located approximately 20 km northeast of Timmins and is situated in the east portion of the Hoyle Pond volcanic belt adjacent to a major northeast trending flexure and the 1060 fault. Mineralization at the mine occurs in multiple zones of quartz veining between surface and a depth of 2,000 m along the trend of the main flexure. The S Zone, which is the main focus of the current drill program, lies in the lower east portion of the mine, just east of the 1060 fault (Figure 1).
The new drilling was designed to test the lower limits of the zone below the 2,200 level and continued to demonstrate very positive results including: 13.52 gpt over 9.1m in hole 27700AM; 45.77 gpt over 4.1m, including 133.00 gpt over 0.6m in hole 27713B; 5.69 gpt over 8.5m, including 20.40 gpt over 0.5m and including 45.70 gpt over 0.5m in hole 27712; and 16.70 gpt over 0.6m in hole 27677M (Figure 2).
The program is continuing at the mine with five drills including two at the Lower S Zone, two at the XMS Zone and one at the NMV/UM4 zones. Work is also ongoing to prepare several new locations in the mid-mine area for drilling which will start later in the second quarter of 2026.
Table 1: Intercepts from Hoyle Pond Underground Mine1,2,3
| ZONE | Hole ID | Total Hole Depth (m) | From | To | Core length | Estimated True Width | Au | Notes |
| (m) | (m) | (m) | (m) | (g/t) | ||||
| Hoyle Pond S veins | 27700AM | 540.0 | 478.0 | 487.7 | 9.7 | 9.1 | 13.52 | |
| 27713B | 570.0 | 489.0 | 493.2 | 4.2 | 4.1 | 45.77 | ||
| incl | ||||||||
| 492.0 | 492.6 | 0.6 | 0.6 | 133.00 | Visible Gold | |||
| 27712 | 534.0 | 465.0 | 474.0 | 9.0 | 8.5 | 5.69 | ||
| incl | ||||||||
| 465.0 | 465.5 | 0.5 | 0.5 | 20.40 | ||||
| incl | ||||||||
| 465.5 | 466.0 | 0.5 | 0.5 | 45.70 | Visible Gold | |||
| 27677M | 471.0 | 465.8 | 466.5 | 0.7 | 0.6 | 16.70 |
- All assays are reported uncut.
- Intervals are reported using both true widths and core lengths.
- Holes 27679A is not included in the table above as it had low grade values.
Figure 1. Hoyle Pond Mine Area
Figure 2. Hoyle Pond – S Zone Lower
TVZ Project
Drilling at the TVZ Project included a total of 17 holes (5,803 m) from the 1210 level and 1680 level exploration drifts to confirm and expand the TVZ Zone.
TVZ is a significant zone of gold mineralization located between the 800 and 1800 m levels in the southeast portion of the Hoyle Pond Mine (Figure 3).
Geologically, TVZ lies in the Porcupine sediments south of the Hoyle Pond volcanic belt, just east of the 1060 fault. Gold mineralization is closely associated with a northeast trending, steeply dipping shear zone (TVZ2 Zone) with local splay veins, which plunges moderately to the northeast. The bulk of the mineralization identified to date occurs within a panel measuring approximately 600 m long by 200 m in height, extending from the 850 level to just below the 1410 level, with the best grades typically having a strong correlation with increased amounts of quartz veining, pyrite and arsenopyrite.
Past work at the project includes 437 holes (172,319 m) of wide-spaced drilling from three main platforms on the 900, 1210 and 1410 levels, as well as limited development, mapping, chip sampling and metallurgical test work on the 1210 level. Results from the drilling, mapping and chip sampling have been positive and indicate multiple holes with grades exceeding 5.00 gpt over widths of 5 to 10 m. The results also indicate positive results from the two deepest holes to test the zone to date, holes 21009 and 21094, with returned values of 6.29 gpt over 5.3 m and 4.98 gpt over 4.0 m, respectively, between the 1550 and 1610 levels. As a result, the potential to extend the zone to greater depths is considered excellent.
Results of the past metallurgical work indicate a strong correlation of gold with arsenopyrite and variable recoveries, but with the potential for improvement using enhanced processing.
The current work program is designed to infill and expand the TVZ Zone, with drilling ongoing from the historic drill platforms, in preparation for an initial NI 43-101 mineral resource in late 2026.
Drilling from the 1210 level included eight holes (2,595 m) which were drilled across the main zones in a southeasterly direction to evaluate the upper portion of the target model. Results of the program were very positive (Figure 4) and included multiple significant assays from the TVZ1 and TVZ2 zones, which mark the north and south limits of the zone, as well as from splay veins located in the area between.
Significant intercepts from the TVZ1 include: 72.46 gpt over 1.7m, including 770.00 gpt over 0.2m in hole 27886; 6.14 gpt over 2.8m in hole 27887; 27.91 gpt over 0.9m in hole 27885; and 6.39 gpt over 1.2m in hole 27884. All four holes were drilled into an untested gap just above the 1210 level. The new intercept from hole 27886 is from the centre of the untested gap and is the highest-grade intercept obtained from this zone to date. Hole 27885 tested 50 m below hole 27886, hole 27887 tested 60 m to the southwest and, hole 27884 tested 50 m to the northeast.
Significant intercepts from the TVZ2 include: 4.39 gpt over 9.2 m in hole 27881; 4.23 gpt over 55.0m, including 10.83 gpt over 4.0m, and including 5.39 gpt over 27.0m in hole 27883; 3.27 gpt over 13.8m, including 5.24 gpt over 5.0m and 3.18 gpt over 9.0m in hole 27886; 3.87 gpt over 25.0m, including 6.41 gpt over 11.0m in hole 27966; and 3.42 gpt over 33.5m, including 4.40 gpt over 8.1m and including 5.18 gpt over 9.1m in hole 27965. Holes 27881 and 27886 targeted the east-central portion of the zone below the 1210 level and 35 m above the previously reported result of 3.90 gpt over 7.5m from hole 27882 (see press release dated February 10, 2026). Hole 27883 targeted the zone 85 m to the northeast of 27882 and holes 27965 and 27966 targeted approximately 170 m to the southwest.
Among significant intercepts from the splay veins were 4.36 gpt over 22.0m, including 13.33gpt over 4.4m in hole 27881; 8.38 gpt over 1.8m and 4.48 gpt over 11.6m, including 6.13 gpt over 7.4m, in hole 27965; and 3.57 gpt over 14.0m, including 7.81 gpt over 4.1m and 4.17 gpt over 11.5m, in hole 27966. The new intercept in hole 27881 lies 25 m directly above the previously reported result of 4.0 gpt over 30.1 m from hole 27982 (see press release dated February, 10 2026) and the intercepts in holes 27965 and 27966 are located approximately 80 m to the west.
Drilling on the 1680 level included nine new holes (3,208 m) which were drilled in a southeasterly direction to test near the lower limits of previous drilling on the TVZ2. Significant results include: 4.32 gpt over 19.0m, including 5.82 gpt over 9.0m and 5.60 gpt over 3.5m, in hole 27854; 4.24 gpt over 10.2m in hole 27856; and 3.80gpt over 10.2m, including 4.73 gpt over 6.0m in hole 27852, which intersected the TVZ2 vein near the 1600 level between previously reported values of 6.29 gpt over 5.3m and 4.98 gpt over 4.0m in holes 21094 and 21009 (see press release dated February 10, 2026).
Drilling at TVZ is ongoing with two drills operating on the 1210 level and one drill on the 1410 level. Drilling on the 1210 level is primarily focused on infilling and extending mineralization proximal to historic drilling, while drilling on the 1410 level continues to test the projected down plunge extension of the TVZ Zone.
Table 2: Intercepts from TVZ Project1,2
| Hole ID | Total Hole Depth | Platform | From | To | Core length | Au | Notes3 |
| (m) | (m) | (m) | (g/t) | ||||
| 27855 | 336.0 | 1680L | 127.7 | 128.0 | 0.3 | 15.60 | QV/VG |
| 177.4 | 184.1 | 6.7 | 3.20 | QV/qs/aspy | |||
| incl | |||||||
| 177.4 | 179.9 | 2.5 | 5.78 | ||||
| 283.1 | 288.8 | 5.7 | 1.66 | qs/aspy/VG | |||
| 27850 | 384.0 | 1680L | 172.8 | 173.1 | 0.3 | 11.50 | QV/aspy |
| 189.1 | 190.4 | 1.3 | 5.70 | QV/qs/aspy | |||
| 303.0 | 310.0 | 7.0 | 2.78 | qs/aspy | |||
| 343.5 | 344.9 | 1.4 | 4.30 | qs/aspy | |||
| 353.5 | 355.3 | 1.8 | 3.07 | qs/aspy | |||
| 27853 | 351.0 | 1680L | 154.0 | 156.5 | 2.5 | 2.22 | QV/qs/aspy |
| 164.0 | 166.0 | 2.0 | 2.23 | qs/aspy | |||
| 296.5 | 301.0 | 4.5 | 1.61 | qs/aspy | |||
| 326.8 | 328.5 | 1.7 | 14.71 | QV/qs/VG | |||
| 27857 | 381.0 | 1680L | 327.2 | 327.5 | 0.3 | 12.70 | QV/VG/aspy |
| 352.0 | 352.3 | 0.3 | 9.52 | QV/aspy | |||
| 361.5 | 361.8 | 0.3 | 9.99 | QV/aspy | |||
| 27851 | 390.0 | 1680L | 218.0 | 221.0 | 3.0 | 3.06 | qs/aspy |
| 315.7 | 318.4 | 2.7 | 4.27 | QV/qs/aspy | |||
| 27852 | 340.0 | 1680L | 160.9 | 162.8 | 1.9 | 4.26 | qs/aspy |
| 283.0 | 293.2 | 10.2 | 3.80 | qs/aspy | |||
| incl | |||||||
| 284.5 | 290.5 | 6.0 | 4.73 | qs/aspy | |||
| 27854 | 325.0 | 1680L | 164.2 | 164.7 | 0.5 | 22.50 | QV/aspy |
| 250.8 | 253.0 | 2.2 | 4.78 | QV/qs/aspy | |||
| 288.0 | 307.0 | 19.0 | 4.32 | QV/qs/aspy | |||
| incl | |||||||
| 290.1 | 293.6 | 3.5 | 5.60 | QV/qs/aspy | |||
| and | |||||||
| 296.5 | 305.5 | 9.0 | 5.82 | QV/qs/aspy | |||
| 27856 | 330.0 | 1680L | 149.2 | 151.6 | 2.4 | 3.60 | QV/qs/aspy |
| 158.2 | 160.1 | 1.9 | 5.77 | qs/aspy | |||
| 280.6 | 290.8 | 10.2 | 4.24 | QV/qs/aspy | |||
| 303.7 | 306.6 | 2.9 | 3.05 | QV/qs/aspy | |||
| 27847 | 370.6 | 1680L | 200 | 200.3 | 0.3 | 38.30 | QV/VG/aspy |
| 303.5 | 312.0 | 8.5 | 2.24 | qs/aspy | |||
| 27883 | 410.0 | 1210L | 71.4 | 71.8 | 0.4 | 17.30 | qs/aspy |
| 133.0 | 135.0 | 2.0 | 3.37 | QV/qs/aspy | |||
| 162.0 | 164.4 | 2.4 | 4.52 | QV/qs/aspy | |||
| 174.1 | 178.7 | 4.6 | 1.13 | qs/aspy | |||
| 196.1 | 197.7 | 1.6 | 2.75 | qs/aspy | |||
| 210.0 | 213.0 | 3.0 | 4.39 | QV/qs/aspy | |||
| 220.1 | 222.6 | 2.5 | 5.69 | QV/qs/aspy | |||
| 341.0 | 396.0 | 55.0 | 4.23 | QV/qs/aspy | |||
| incl | |||||||
| 341.0 | 345.0 | 4.0 | 10.83 | QV/qs/aspy | |||
| and | |||||||
| 355.0 | 358.5 | 3.5 | 5.06 | QV/qs/aspy | |||
| and | |||||||
| 369.0 | 396.0 | 27.0 | 5.39 | QV/qs/aspy | |||
| incl | |||||||
| 382.0 | 394.0 | 12.0 | 7.44 | QV/qs/aspy | |||
| 27881 | 345.0 | 1210L | 51.7 | 52.0 | 0.3 | 1.76 | QV/aspy |
| 124.5 | 130.0 | 5.5 | 4.17 | qs/aspy | |||
| 139.0 | 140.1 | 1.1 | 6.92 | qs/aspy | |||
| 143.6 | 148.0 | 4.4 | 2.70 | QV/qs/aspy | |||
| 153.6 | 175.6 | 22.0 | 4.36 | QV/qs/VG | |||
| incl | |||||||
| 171.2 | 175.6 | 4.4 | 13.33 | QV/qs/VG | |||
| incl | |||||||
| 173.7 | 175.0 | 1.3 | 39.59 | QV/qs/VG | |||
| 260.3 | 264.7 | 4.4 | 3.13 | qs/aspy | |||
| 298.0 | 307.2 | 9.2 | 4.39 | QV/qs/aspy | |||
| 323.8 | 327.0 | 3.2 | 2.48 | qs/aspy | |||
| 334.4 | 338.8 | 4.4 | 2.11 | qs/aspy | |||
| 27885 | 360.0 | 1210L | 113.4 | 114.3 | 0.9 | 27.91 | QV/VG/aspy |
| 251.7 | 258.5 | 6.8 | 6.77 | QV/qs/VG | |||
| 268.0 | 270.6 | 2.6 | 3.46 | QV/qs/aspy | |||
| 27886 | 332.0 | 1210L | 72.5 | 74.1 | 1.6 | 5.39 | QV/qs/aspy |
| 146.5 | 150.3 | 3.8 | 72.46 | QV/qs/VG | |||
| incl | |||||||
| 149.5 | 149.8 | 0.3 | 770.00 | QV/VG | |||
| 247.2 | 261.0 | 13.8 | 3.27 | QV/qs/aspy | |||
| incl | |||||||
| 247.2 | 251.0 | 3.8 | 4.13 | QV/qs/aspy | |||
| and | |||||||
| 256.0 | 261.0 | 5.0 | 5.24 | QV/qs/aspy | |||
| 272.3 | 281.3 | 9.0 | 3.18 | QV/qs/aspy | |||
| incl | |||||||
| 272.3 | 275.5 | 3.2 | 5.50 | QV/qs/aspy | |||
| 27887 | 335.4 | 1210L | 109.1 | 112.8 | 3.7 | 5.63 | QV/qs/aspy |
| 119.6 | 125.0 | 5.4 | 6.14 | QV/qs/aspy | |||
| 209.5 | 215.5 | 6.0 | 3.75 | QV/qs/aspy | |||
| 27965 | 163.0 | 1210L | 5.7 | 10.1 | 4.4 | 4.95 | QV/qs/aspy |
| incl | |||||||
| 7.8 | 9.6 | 1.8 | 8.38 | QV/qs/aspy | |||
| 52.0 | 56.7 | 4.7 | 4.43 | QV/qs/aspy | |||
| 66.6 | 78.2 | 11.6 | 4.48 | QV/qs/VG | |||
| incl | |||||||
| 66.6 | 74.0 | 7.4 | 6.13 | QV/qs/aspy | |||
| 85.60 | 119.1 | 33.5 | 3.42 | QV/qs/VG | |||
| incl | |||||||
| 93.40 | 101.5 | 8.1 | 4.40 | QV/qs/aspy | |||
| and | |||||||
| 110.0 | 119.1 | 9.1 | 5.18 | QV/qs/VG | |||
| 27966 | 150.0 | 1210L | 2.0 | 11.0 | 9.0 | 3.15 | qs/aspy |
| incl | |||||||
| 9.0 | 11.0 | 2.0 | 8.25 | qs/aspy | |||
| 19.0 | 33.0 | 14.0 | 3.57 | QV/qs/aspy | |||
| incl | |||||||
| 21.9 | 26.0 | 4.1 | 7.81 | QV/qs/aspy | |||
| 56.0 | 67.5 | 11.5 | 4.17 | qs/aspy | |||
| 107.0 | 132.0 | 25.0 | 3.87 | QV/qs/aspy | |||
| incl | |||||||
| 117.0 | 128.00 | 11.0 | 6.41 | QV/qs/aspy | |||
| 27884 | 500.0 | 1210L | 167.3 | 168.5 | 1.2 | 6.39 | QV/qs/aspy |
| 189.0 | 192.5 | 3.5 | 2.48 | QV/qs/aspy | |||
| 302.9 | 305.5 | 2.6 | 9.23 | QV/qs/VG | |||
| 361.2 | 363.4 | 2.2 | 5.68 | QV/qs/aspy | |||
- All assays are reported uncut.
- Intervals are reported using core lengths as true widths are not known at this time.
- Acronyms stand for: QV = Quartz Vein, VG = Visible Gold, qs = quartz stringers, aspy = arsenopyrite.
Figure 3. TVZ
Figure 4: TVZ Results
Owl Creek
Drilling at the Owl Creek Project included a total of 12 holes (4,592.2 m) to confirm and expand mineralization near the former Owl Creek open pit as well as at the 750 Zone (Figure 5). Of the holes drilled, three holes (155 m) were abandoned due to excessive deviation.
The Owl Creek open pit is located approximately 1.5 kilometres west of the Hoyle Pond Ramp Portal and along the south side of the Hoyle Pond belt near the contact between metasedimentary and metavolcanic rocks. The pit, as well as two underground ramps below it, were developed by Falconbridge Gold in the 1980's and were utilized to recover approximately 237,000 ounces of gold at an average grade of 3.75 gpt. The 750 Zone is located approximately 700 m to the east of the Owl Creek pit and consists of a broad zone of mineralization located between surface and the 200 m level, which is defined by historic drilling from both from surface and the underground ramp.
Drilling at the Owl Creek Zone included eight holes (3954.2 m) designed to confirm and expand mineralization identified in both historic holes and previously reported holes (see Discovery Press Release dated November 6, 2025), with results including multiple significant intercepts between surface and the 650 m level.
Significant results include: 4.11 gpt over 30.0m, including 9.04 gpt over 3.0m, 7.17 gpt over 3.0m and 5.24 gpt over 10.1m, in hole OC26-029A; 7.34 gpt over 1.4m, 2.38 gpt over 35.5m, including 4.97 gpt over 2.1m and 6.05 gpt over 3.2m in hole OC26-035; 4.13 gpt over 13.8m, including 7.53 gpt over 7.0m, in hole OC26-37A; and 1.84 gpt over 11.2m, including 2.93 gpt over 3.0m and 4.54 gpt over 2.2m, in hole OC26-028A (Table 3).
Holes OC26-029A, OC26-035 and OC26-37A were drilled to infill untested gaps in the east portion of the deposit between the 275 and 375 m levels, while hole OC26-28A was drilled near the west limits of current drilling near the 400 level.
Drilling at the 750 Zone included one new hole (483.0 m) designed to confirm and expand mineralization near the 250 m level, which is at the lower limits of historic drilling. Results include: 5.76 gpt over 4.5m, 2.57 gpt over 8.9m and 1.62 gpt over 3.3m in hole OC25-027.
While the review and interpretation of drilling is still in progress, the new results at both Owl Creek and the 750 Zone are considered to be very positive. Holes at Owl Creek extend the overall footprint of the deposit to over 200 m and highlight a wide, high grade core of mineralization near the east-central portion of the pit, which starts at less than 100 m from surface. Holes at the 750 Zone highlight a new potential area for resource growth.
The program is continuing with two drills that will continue to focus on infill and extension of mineralization at both the Owl Creek and the 750 Zones. Work is also in progress to review potential new drill targets along the Hoyle Pond – Owl Creek Trend, such as the historic 350 Zone, which is located 500 m to the east of the 750 Zone and is partially developed, with a ramp connecting it to the Hoyle Pond Mine near the main ramp portal.
Table 3: Intercepts from New Drilling at Owl Creek Project1,2,3
| ZONE | Hole ID | Total Hole Depth (m) | From | To | Core length | Au |
| (m) | (m) | (m) | (g/t) | |||
| 750 Zone | OC26-027 | 483.0 | 281.5 | 286 | 4.5 | 5.76 |
| 313.0 | 321.9 | 8.9 | 2.57 | |||
| 337.2 | 340.5 | 3.3 | 1.62 | |||
| Owl Creek | OC26-029A | 507.0 | 344.5 | 374.5 | 30.0 | 4.11 |
| incl | ||||||
| 345.6 | 348.6 | 3.0 | 9.04 | |||
| and | ||||||
| 351.9 | 354.9 | 3.0 | 7.17 | |||
| and | ||||||
| 362.5 | 372.6 | 10.1 | 5.24 | |||
| OC26-028A | 630.0 | 415.3 | 418.7 | 3.4 | 3.10 | |
| 441.1 | 442.0 | 1.0 | 5.82 | |||
| 449.0 | 452.0 | 3.0 | 3.05 | |||
| 468.0 | 479.2 | 11.2 | 1.84 | |||
| incl | ||||||
| 468.0 | 471.0 | 3.0 | 2.93 | |||
| and | ||||||
| 477.8 | 479.2 | 1.4 | 4.66 | |||
| 485.3 | 492.2 | 6.9 | 2.08 | |||
| incl | ||||||
| 490.0 | 492.2 | 2.2 | 4.54 | |||
| 522.6 | 527.0 | 4.4 | 2.36 | |||
| 546.0 | 551.3 | 5.3 | 1.72 | |||
| OC26-030 | 510.0 | 374.7 | 376.5 | 1.8 | 2.42 | |
| 409.6 | 410.5 | 0.9 | 1.69 | |||
| 418.6 | 421.9 | 3.3 | 4.59 | |||
| OC26-032 | 432.2 | 301.3 | 303.1 | 1.8 | 2.67 | |
| 317.0 | 318.0 | 1.0 | 8.99 | |||
| 326.7 | 341.5 | 14.8 | 1.07 | |||
| OC26-035 | 654.0 | 463.1 | 464.0 | 0.9 | 4.87 | |
| 479.0 | 480.4 | 1.4 | 7.34 | |||
| 498.5 | 534.0 | 35.5 | 2.38 | |||
| incl | ||||||
| 500.0 | 502.0 | 2.0 | 3.53 | |||
| incl | ||||||
| 505.5 | 507.6 | 2.1 | 4.97 | |||
| incl | ||||||
| 511.5 | 514.7 | 3.2 | 6.05 | |||
| incl | ||||||
| 527.1 | 534.0 | 6.9 | 3.05 | |||
| 540.0 | 541.0 | 1.0 | 4.29 | |||
| OC26-033 | 465.0 | 309.5 | 335.7 | 26.2 | 1.60 | |
| incl | ||||||
| 310.0 | 311.1 | 1.1 | 3.30 | |||
| incl | ||||||
| 319.0 | 321.0 | 2.0 | 2.60 | |||
| incl | ||||||
| 329.8 | 333.4 | 3.6 | 3.59 | |||
| OC26-034 | 351 | 185.2 | 186.5 | 1.3 | 18.56 | |
| 237.0 | 248.0 | 11.0 | 1.04 | |||
| 253.0 | 268.6 | 15.6 | 1.28 | |||
| 269.9 | 274.7 | 4.8 | 1.04 | |||
| OC26-037A | 405 | 296.2 | 310.0 | 13.8 | 4.13 | |
| incl | ||||||
| 303.0 | 310.0 | 7.0 | 7.53 |
- All assays are reported uncut.
- Intervals are reported using core lengths only as true widths are not known at this time.
Figure 5. Owl Creek Plan View
Borden Mine
Drilling at the Borden Mine included a total of 24 holes (6,585 m) to convert and expand resources in the Main Zone and East Lower Zone (“ELZ”) near the northeast limits of inferred resources (Figures 6, 7 and 8).
The Borden Mine is located approximately 190 km southwest of the Dome Mill, near Chapleau and in the south portion of the Borden Lake Greenstone Belt. The Main Zone is an east-west trending structure located along the east - west trending Genesis Deformation Zone (“GDZ”) adjacent to a major contact between felsic gneiss and amphibolite. Work to date has traced the zone for a strike length of over 1.7 km along strike and indicates the zone is closely associated with quartz veining, biotite-garnet alteration and pyrite. The ELZ is a parallel trending, and less explored, structure located approximately 500 m to the west of the Main Zone where recent work indicates potential for significant upside.
Drilling at the Main Zone included 17 holes (5,177 m) completed from cut outs located in the east portion of the 585-exploration drift, situated in the hanging wall of the zone. The results of the drilling continued to demonstrate extremely positive results.
Significant results include: 8.30 gpt over 10.2m, including 11.72 gpt over 3.9m, in 585-00269; 6.51 gpt over 11.3m, including 8.07 gpt over 4.3m, in 585-00268; 4.85 gpt over 14.2m, including 6.74 gpt over 7.4m, in 585-00267; and 5.30 gpt over 13.0m, including 7.47 gpt over 6.1m, in hole 585-00266, which were drilled to test the east side of the zone and extend the east limit of defined mineralization by a minimum of 50 meters to the east (Table 4).
Additional highlights include; 18.85 gpt over 3.1m, 4.42 gpt over 16.6m, including 7.39 gpt over 6.3m, in hole 585-00147; 10.04 gpt over 13.7m, including 21.01 gpt over 3.8m, in hole 585-00149; 7.14 gpt over 12.3m, including 9.40 gpt over 5.2m, in hole 585-00151; 5.54 gpt over 12.6m, including 12.12 gpt over 4.5m, in hole 585-00132; 5.21 gpt over 13.5m, including 7.46 gpt over 5.1m, in hole 585-00229; and 9.39 gpt over 12.9m, including 11.32 gpt over 10.1m, in hole 585-00153, which were drilled in the down plunge extension of the current inferred resource, and which extend the zone by a minimum of 50 to 75 m.
Drilling at the ELZ included seven holes (1,408 m) completed from two drill bays located on the 585 level to confirm and evaluate expansion potential near the lower limits of the zone. Significant results include: 6.24 gpt over 15.7m, including 7.68 gpt over 7.9m, in hole 585-00285; 6.87 gpt over 21.0m, including 9.08 gpt over 9.1m, in hole 585-00284; 7.13 gpt over 10.9m, including 10.79 gpt over 5.8m, in hole 585-00282; and 5.35 gpt over 15.1m, including 8.60 gpt over 6.5m, in hole 585-00287, which are located 50 to 75 m down dip of the current indicated resource. The zone remains open to depth.
,
Review of the above drill results indicate that both the Main Zone and ELZ are trending close to plan and with grades and widths that are similar to, or better than, the current resource model. These results, along with wide-spaced surface drilling down plunge of the Main Zone, continue to provide confidence in the potential for further resource growth as drilling continues.
The program is continuing with four underground drills working to convert and extend resources. Work is also continuing to advance the 585-exploration drift to the northeast to provide new drill platforms for future drilling. Two surface drills are also operating in the area northeast of the Main Zone.
Table 4: Intercepts from Borden Underground Mine1,2
| ZONE | Hole ID | Total Hole Depth | From | To | Core length | Estimated True Width | Au | |||||||
| (m) | (m) | (m) | (m) | (g/t) | ||||||||||
| Deep Main Zone | 585-00155 | 308.2 | 269.9 | 284.0 | 14.1 | 12.0 | 5.06 | |||||||
| incl | ||||||||||||||
| 277.0 | 284.0 | 7.0 | 6.0 | 8.61 | ||||||||||
| incl | ||||||||||||||
| 280.3 | 284.0 | 3.7 | 3.1 | 14.26 | ||||||||||
| 585-00150 | 338.9 | 305.9 | 311.9 | 6.0 | 5.4 | 5.25 | ||||||||
| incl | ||||||||||||||
| 308.8 | 311.2 | 2.4 | 2.2 | 10.26 | ||||||||||
| 585-00108 | 341.7 | 298 | 306.7 | 8.7 | 6.6 | 4.73 | ||||||||
| incl | ||||||||||||||
| 300.3 | 304.6 | 4.3 | 3.2 | 6.59 | ||||||||||
| 585-00147 | 359.0 | 287.4 | 290.7 | 3.3 | 3.1 | 18.85 | ||||||||
| 302.6 | 320.4 | 17.8 | 16.6 | 4.42 | ||||||||||
| incl | ||||||||||||||
| 302.6 | 306.3 | 3.7 | 3.4 | 5.92 | ||||||||||
| incl | ||||||||||||||
| 313.7 | 320.4 | 6.7 | 6.3 | 7.39 | ||||||||||
| 585-00151 | 341.0 | 292.3 | 305.7 | 13.3 | 12.3 | 7.14 | ||||||||
| Incl | ||||||||||||||
| 293.9 | 299.6 | 5.7 | 5.2 | 9.4 | ||||||||||
| Incl | ||||||||||||||
| 302.6 | 305.7 | 3.1 | 2.8 | 11.75 | ||||||||||
| 585-00264 | 285.0 | 246.7 | 253.9 | 7.2 | 6.3 | 3.84 | ||||||||
| Incl | ||||||||||||||
| 246.7 | 248.8 | 2.1 | 1.9 | 6.56 | ||||||||||
| 585-00132 | 328.9 | 293 | 307.1 | 14.1 | 12.6 | 5.54 | ||||||||
| incl | ||||||||||||||
| 302 | 307.1 | 5.1 | 4.5 | 12.12 | ||||||||||
| 585-00153 | 316.6 | 275.5 | 290.3 | 14.8 | 12.9 | 9.39 | ||||||||
| incl | ||||||||||||||
| 278.2 | 289.7 | 6.1 | 10.1 | 11.32 | ||||||||||
| 585-00266 | 254.3 | 215.8 | 230 | 14.2 | 13.0 | 5.30 | ||||||||
| incl | ||||||||||||||
| 217.5 | 223.6 | 6.1 | 5.6 | 7.47 | ||||||||||
| 585-00267 | 248.8 | 198.8 | 214.2 | 15.4 | 14.2 | 4.85 | ||||||||
| incl | ||||||||||||||
| 206.2 | 214.2 | 8.0 | 7.4 | 6.74 | ||||||||||
| 585-00265 | 269.4 | 233.9 | 242 | 8.1 | 7.0 | 5.70 | ||||||||
| incl | ||||||||||||||
| 239.2 | 242 | 2.8 | 2.4 | 9.89 | ||||||||||
| 585-00268 | 238.0 | 192.7 | 204.6 | 11.9 | 11.3 | 6.51 | ||||||||
| incl | ||||||||||||||
| 200 | 204.6 | 4.6 | 4.3 | 8.07 | ||||||||||
| 585-00269 | 229.2 | 184 | 195.3 | 11.3 | 10.2 | 8.30 | ||||||||
| incl | ||||||||||||||
| 186.7 | 191 | 4.3 | 3.9 | 11.72 | ||||||||||
| 585-00149 | 360.0 | 299.7 | 313.9 | 14.2 | 13.7 | 10.04 | ||||||||
| incl | ||||||||||||||
| 308 | 311.9 | 3.9 | 3.8 | 21.01 | ||||||||||
| 585-00112 | 305.3 | 219.2 | 228.9 | 9.7 | 6.9 | 2.60 | ||||||||
| incl | ||||||||||||||
| 219.2 | 221.6 | 2.4 | 1.7 | 4.95 | ||||||||||
| 272.3 | 280.3 | 8.0 | 5.9 | 3.15 | ||||||||||
| 585-00230 | 340.1 | 294.8 | 213.9 | 19.1 | 17.9 | 2.86 | ||||||||
| incl | ||||||||||||||
| 294.8 | 305.0 | 10.2 | 9.6 | 3.36 | ||||||||||
| 585-00229 | 312.0 | 274.1 | 288.9 | 14.8 | 13.5 | 5.21 | ||||||||
| incl | ||||||||||||||
| 278.7 | 284.3 | 5.6 | 5.1 | 7.46 | ||||||||||
| Borden UG East Lower Zone | 585-00282 | 231.0 | 189.5 | 202.8 | 13.3 | 10.9 | 7.13 | |||||||
| incl | ||||||||||||||
| 194.3 | 201.4 | 7.1 | 5.8 | 10.79 | ||||||||||
| 585-00284 | 194.8 | 140.3 | 165.4 | 25.1 | 21.0 | 6.87 | ||||||||
| incl | ||||||||||||||
| 143.6 | 154.5 | 10.9 | 9.1 | 9.08 | ||||||||||
| 585-00285 | 216.0 | 160.0 | 178.5 | 18.5 | 15.7 | 6.24 | ||||||||
| incl | ||||||||||||||
| 167.7 | 177.0 | 9.3 | 7.9 | 7.68 | ||||||||||
| 585-00280 | 192.0 | 148.7 | 160.1 | 11.4 | 8.9 | 5.26 | ||||||||
| incl | ||||||||||||||
| 152.8 | 156.9 | 4.1 | 3.2 | 7.68 | ||||||||||
| 585-00283 | 143.6 | 106.4 | 106.9 | 0.5 | 0.4 | 15.8 | ||||||||
| 585-00281 | 200.0 | 155.5 | 169.5 | 14.1 | 9.0 | 5.75 | ||||||||
| incl | ||||||||||||||
| 157.5 | 169.1 | 7.1 | 4.6 | 8.60 | ||||||||||
| 585-00287 | 230.7 | 179.0 | 201.0 | 22.0 | 15.1 | 5.35 | ||||||||
| incl | ||||||||||||||
| 182.0 | 191.5 | 9.5 | 6.5 | 8.60 | ||||||||||
- All assays are reported uncut.
- Intervals are reported using both true widths and core lengths.
Figure 6. Borden Mine
Figure 7. Borden Mine – Deep Main Zone
Figure 8. Borden Mine – East Lower Zone “ELZ”
Pamour
Drilling at the Pamour Mine area included a total of 67 holes (20,121 m) to test areas within and surrounding the large open-pit resource at the property, which includes 64.8 million tonnes grading 1.30 gpt (2.70 million ounces) in the Indicated category and 23.3 million tonnes grading 1.34 gpt (1.00 million ounces) in the Inferred category (Figure 9).
The Pamour Mine is located approximately 20 km east of Timmins on the north side of the Destor Porcupine Fault Zone and straddles the unconformity between Tisdale Group volcanics and Timiskaming sediments. Mineralization at the mine is closely associated with quartz veining, which can occur in single veins, vein arrays, stockworks as well as pyrite both along the unconformity and in volcanics to the north.
The holes drilled were focused on three main areas including the Pamour pit, North Contact Zone and Pamour West.
Drilling at the Pamour Pit included 56 holes (15,918 m) and was focused on the east and west portions of the pit. The drilling represents a continuation of a program which commenced in the second quarter of 2025 to convert and extend resources in preparation for a new resource update later in 2026.
Significant results from drilling in the central portion of the pit include: 1.15 gpt over 109.0m, including 14.10 gpt over 0.5m, in hole PAM25-0109; 5.25 gpt over 19.7m, including 169.00 gpt over 0.7m, 2.42 gpt over 22.3m, 1.58 gpt over 30.0m and 0.75 gpt over 42.9m in hole PAM25-0116; 2.29 gpt over 45.3m in hole PAM25-0055; and 1.36 gpt over 54.1m, including 46.70 gpt over 0.5m, and 1.25 gpt over 12.4m, including 7.05 gpt over 1.0m, in hole PAM25-0094 (Table 5).
Significant results from drilling to the east, which overlie the Phase 3 pit, include: 1.94 gpt over 28.5m, 2.44 gpt over 9.2m, 0.76 gpt over 20.8m and 4.37 gpt over 8.0m in hole PAM25-0100LR; 1.78 gpt over 5.0m, 4.54 gpt over 12.6m, 0.84 gpt over 16.0m and 0.87 gpt over 38.5m in hole PAM26-0132; 2.95 gpt over 12.6m and 1.00 gpt over 16.5m in hole PAM26-0186; and 1.66 gpt over 31.1m in hole PAM26-0183LR.
Significant results from drilling to the west, which overlie the phase 2 pit, include: 1.35 gpt over 65.1m in hole PAM26-0168; 2.34 gpt over 18.3m in hole PAM26-0169; 1.34 gpt over 56.1m, 1.09 gpt over 10.2m and 0.69 gpt over 36.1m in hole PAM26-0153; and 1.29 gpt over 41.4m, 1.30 gpt over 6.0m and 1.04 gpt over 34.2m in hole PAM26-0153.
Drilling at Pamour West included six holes (2,085 m) to confirm and expand mineralization surrounding the historic underground mine and open pit. Among significant results were 1.18 gpt over 7.0m, 0.97 gpt over 11.2m, 6.84 gpt over 7.5m, 1.84 gpt over 6.0m and 1.77 gpt over 5.9m in hole PAM26-0167; and 5.17 gpt over 3.2m, 0.88 gpt over 10.0m, 3.01 gpt over 3.8m, 9.35 gpt over 3.7m and 2.49 gpt over 7.7m, including 51.10 gpt over 0.3m, in hole PAM26-0161.
Drilling at the North Contact Zone included five holes (2,119 m) and targeted mineralization on a major east – west trending volcanic sedimentary contact located directly north of the phase 2 pit and into an untested gap in drilling between historic holes 600 m to the east and 800 m to the west. Significant results from the new drilling include: 2.52 gpt over 20.0 m and 0.78 gpt over 35.5m in hole PAM26-0170; 24.11 gpt over 8.0m, including 596.00 gpt over 0.3m, and 1.45 gpt over 23.1m in hole PAM26-0165; and 1.53 gpt over 3.5m, 0.70 gpt over 19.6m and 1.70 gpt over 23.9m, including 20.70 gpt over 1.0m, in hole PAM26-0180. Significant results from historic holes to the west include 1.95 gpt over 23.0m and 2.69 gpt over 15.6m in hole 19093; 1.45 gpt over 14.8m, 40.40 gpt over 3.3m and 7.30 gpt over 6.2m in hole 19039. Significant results from holes to the east include 3.37 gpt over 36.1m in hole 19150 and 2.85gpt over 37.4m in hole 19144.
The drill program is continuing with one drill focused on the Pamour open pit area, one at Pamour West and one at the North Contact Zone.
| Table 5: Intercepts from the Pamour Open Pit Mine1,2,3 | |||||||||||||||
| ZONE | Hole ID | Total Hole Depth | From | To | Core length | Au | Notes | ||||||||
| (m) | (m) | (m) | (g/t) | ||||||||||||
| #5 Pit | PAM26-0155 | 477.0 | 120.0 | 130.0 | 10.0 | 0.88 | 5.01 gpt / 0.4 m | ||||||||
| 189.0 | 193.4 | 4.4 | 0.89 | 15.9 gpt / 0.5 m | |||||||||||
| 231.0 | 234.8 | 3.8 | 3.01 | 6.76 gpt / 1.3 m | |||||||||||
| 288.0 | 291.7 | 3.7 | 9.35 | 25.42 gpt / 1.2 m | |||||||||||
| 304.8 | 312.5 | 7.7 | 2.49 | 51.10 gpt / 0.3 m 5.38 gpt / 0.4 m | |||||||||||
| PAM26-0161 | 258.9 | 234.0 | 237.2 | 3.2 | 5.67 | 8.13 gpt / 2.2 m | |||||||||
| PAM26-0167 | 508.6 | 64.0 | 75.0 | 11.0 | 0.77 | ||||||||||
| 85.0 | 88.0 | 3.0 | 1.48 | ||||||||||||
| 107.0 | 114.0 | 7.0 | 1.18 | 5.82 gpt / 1.0 m | |||||||||||
| 201.0 | 212.2 | 11.2 | 0.97 | 2.01 gpt / 3.4 m | |||||||||||
| 239.0 | 246.5 | 7.5 | 6.84 | 64.3 gpt / 0.6 m 7.14 gpt / 1.0 m | |||||||||||
| 281.0 | 287.0 | 6.0 | 1.84 | 6.09 gpt / 0.3 m 5.24 gpt / 0.3 m | |||||||||||
| 294.5 | 300.4 | 5.9 | 1.77 | ||||||||||||
| PAM26-0169 | 423.0 | 170.4 | 188.7 | 18.3 | 2.14 | 9.67 gpt / 0.85 m 8.20 gpt / 0.5 m 8.12 gpt / 0.7 m 8.05 gpt / 0.7 m 6.52 gpt / 0.4 m 5.70 gpt / 0.5 m | |||||||||
| 252.7 | 259.0 | 6.3 | 1.60 | ||||||||||||
| Pamour - West (Tailings) | PAM25-0037 | 468.0 | 93.0 | 98.7 | 5.7 | 1.21 | 8.39 / 0.5 m | ||||||||
| 138.0 | 143.6 | 5.6 | 5.08 | 49.10 gpt / 0.5 m | |||||||||||
| PAM25-0046 | 243.0 | 149.4 | 165.0 | 15.6 | 0.70 | 24.3 gpt / 0.3 m | |||||||||
| PAM25-0072LR | 508.0 | 206.4 | 273.0 | 66.6 | 0.96 | 12.50 gpt / 0.5 m 20.80 gpt / 0.3 m 7.88 gpt / 1.1 m | |||||||||
| PAM25-0126 | 522.0 | 36.5 | 61.0 | 24.5 | 0.87 | 22.00 gpt / 0.5 m | |||||||||
| 201.9 | 208.6 | 6.7 | 1.28 | 5.71 gpt / 0.7 m | |||||||||||
| 213.0 | 221.0 | 8.0 | 6.49 | 14.45 gpt / 3.0 m 5.36 gpt / 0.7 m | |||||||||||
| 496.7 | 500.7 | 4.0 | 6.86 | 45.70 gpt / 0.6 m | |||||||||||
| PAM25-0149 | 326.0 | 59.5 | 64.5 | 5.0 | 2.45 | 5.90 gpt / 1.9 m | |||||||||
| 98.5 | 123.0 | 24.5 | 1.35 | 13.20 gpt / 0.4 m | |||||||||||
| PAM25-0150 | 309.0 | 209.0 | 231.0 | 22.0 | 1.04 | 5.36 gpt / 0.5 m | |||||||||
| 240.0 | 245.0 | 5.0 | 1.63 | ||||||||||||
| 298.5 | 305.7 | 7.2 | 1.42 | 7.71 gpt / 1.0 m | |||||||||||
| PAM25-0151 | 471.0 | 182.0 | 223.4 | 41.4 | 1.29 | 8.91 gpt / 0.9 m 5.76 gpt / 0.9 m 7.74 gpt / 0.9 m 6.13 gpt / 0.7 m | |||||||||
| 280.0 | 286.0 | 6.0 | 1.30 | 6.64 gpt / 0.5 m | |||||||||||
| 308.6 | 314.0 | 5.4 | 1.08 | 9.42 gpt / 0.3 m | |||||||||||
| 335.9 | 360.5 | 24.6 | 0.80 | 5.39 gpt / 0.9 m 5.64 gpt / 0.3 m | |||||||||||
| 377.4 | 411.6 | 34.2 | 1.04 | 5.46 gpt / 1.0 m 14.00 gpt / 1.0 m 5.84 gpt / 0.4 m | |||||||||||
| PAM25-0153 | 507.0 | 122.9 | 159.0 | 36.1 | 0.69 | ||||||||||
| 205.0 | 215.2 | 10.2 | 1.09 | ||||||||||||
| 345.4 | 401.5 | 56.1 | 1.34 | 7.10 gpt / 0.6 m 8.80 gpt / 0.6 m 5.42 gpt / 0.3 m 8.29 gpt / 0.7 m | |||||||||||
| 412.4 | 418.3 | 5.9 | 1.00 | ||||||||||||
| PAM26-0157 | 288.0 | 166.5 | 184.5 | 18.0 | 1.11 | 6.73 gpt / 1.5 m | |||||||||
| PAM26-0160 | 363.0 | 99.5 | 104.3 | 4.8 | 1.55 | 6.24 gpt / 0.9 m | |||||||||
| 244.0 | 250.0 | 6.0 | 5.84 | 23.20 gpt / 1.5 | |||||||||||
| PAM26-0163 | 78.0 | 70.0 | 74.0 | 4.0 | 1.86 | ||||||||||
| PAM26-0168 | 537.0 | 252.0 | 263.3 | 11.3 | 1.56 | ||||||||||
| 366.3 | 432.0 | 65.7 | 1.35 | 5.61 gpt / 1.3 m 7.14 gpt / 1.0 m 5.31 gpt / 1.2 m 5.17 gpt / 1.0 m 7.65 gpt / 0.9 m 7.46 gpt / 0.9 m | |||||||||||
| PAM26-0171 | 501.0 | 162.0 | 189.0 | 27.0 | 0.80 | 5.73 gpt / 1.5 m | |||||||||
| 305.5 | 354.5 | 49.0 | 0.90 | 7.08 gpt / 0.3 m 6.20 gpt / 0.8 m | |||||||||||
| PAM26-0182 | 240.0 | 132.0 | 138.0 | 6.0 | 0.96 | ||||||||||
| North Contact | PAM26-0165 | 522.7 | 205.5 | 213.5 | 8.0 | 24.11 | 596.00 gpt / 0.3 m | ||||||||
| 496.5 | 519.6 | 23.1 | 1.45 | 5.35 gpt / 0.3 m 6.25 gpt / 1.0 m 6.53 gpt / 0.8 m | |||||||||||
| PAM26-0170 | 369.0 | 108.0 | 128.0 | 20.0 | 2.52 | 9.50 gpt / 1.5m 5.51 gpt / 0.7 m 24.90 gpt / 0.7 m | |||||||||
| 316.5 | 352.0 | 35.5 | 0.78 | ||||||||||||
| PAM26-0173 | 435.0 | 85.0 | 92.0 | 7.0 | 1.09 | ||||||||||
| 101.7 | 112.2 | 10.5 | 0.73 | ||||||||||||
| 340.1 | 343.1 | 3.0 | 2.62 | 23.10 gpt / 0.3 m | |||||||||||
| 425.5 | 434.0 | 8.5 | 1.27 | ||||||||||||
| PAM26-0178 | 261.0 | 58.5 | 61.0 | 2.5 | 5.60 | 28.00 gpt / 0.5 m | |||||||||
| 93.6 | 98.4 | 4.8 | 1.01 | ||||||||||||
| 127.1 | 131.2 | 4.1 | 1.54 | 6.79 gpt / 0.4 m 9.92 gpt / 0.3 m | |||||||||||
| 239.0 | 242.0 | 3.0 | 3.02 | 9.90 gpt / 0.5 m | |||||||||||
| PAM26-0180 | 531.0 | 101.5 | 105.0 | 3.5 | 1.53 | ||||||||||
| 122.5 | 137.0 | 14.5 | 0.65 | ||||||||||||
| 415.9 | 435.5 | 19.6 | 0.70 | ||||||||||||
| 454.6 | 478.5 | 23.9 | 1.70 | 20.70 gpt / 1.0 m | |||||||||||
| 495.0 | 511.8 | 16.8 | 0.67 | ||||||||||||
| East Pamour | PAM25-0075 | 105.0 | 98.0 | 104.0 | 6.0 | 1.64 | 6.21 gpt / 1.5m | ||||||||
| PAM25-0100LR | 450.0 | 212.5 | 241.0 | 28.5 | 1.94 | 9.87 gpt / 1.0 m 6.77 gpt / 1.0 m 13.40 gpt / 1.0 m | |||||||||
| 280.8 | 290.0 | 9.2 | 2.44 | 8.14 gpt / 1.2 m 6.72 gpt / 1.0 m | |||||||||||
| 318.0 | 338.8 | 20.8 | 0.76 | ||||||||||||
| 398.0 | 406.0 | 8.0 | 4.37 | 76.00 gpt / 0.4 m | |||||||||||
| PAM26-0159 | 309.0 | 150.0 | 168.0 | 18.0 | 1.12 | ||||||||||
| 181.5 | 189.8 | 8.3 | 2.50 | 11.70 gpt / 1.0 m | |||||||||||
| 197.8 | 207.8 | 10.0 | 1.35 | 10.60 gpt / 1.0 m | |||||||||||
| 212.2 | 215.4 | 3.2 | 3.05 | 7.45 gpt / 0.8 m | |||||||||||
| PAM26-0164 | 135.0 | 128.3 | 132.5 | 4.2 | 3.70 | 5.71 gpt / 0.3 m 10.20 gpt / 0.4 m | |||||||||
| PAM26-0166 | 519.0 | 91.4 | 102.0 | 10.6 | 1.90 | 25.50 gpt / 0.3 m | |||||||||
| 111.0 | 122.0 | 11.0 | 0.93 | ||||||||||||
| 134.0 | 146.0 | 12.0 | 1.50 | 5.21 gpt / 1.5 m | |||||||||||
| 159.5 | 162.0 | 2.5 | 1.66 | ||||||||||||
| PAM26-0175 | 243.0 | 96.5 | 102.0 | 5.5 | 1.07 | 5.91 gpt / 0.9 m | |||||||||
| 107.2 | 112.5 | 5.3 | 3.23 | 6.95 gpr / 1.5 m | |||||||||||
| 114.0 | 117.8 | 3.8 | 3.86 | 5.41 gpt / 1.0 m | |||||||||||
| 120.0 | 126.0 | 6.0 | 1.87 | 8.46 gpt / 1.0 m | |||||||||||
| 133.0 | 140.5 | 7.5 | 1.82 | ||||||||||||
| PAM26-0183LR | 147.0 | 100.9 | 132.0 | 31.1 | 1.66 | 5.23 gpt / 1.0 m 5.32 gpt / 2.0 m 6.60 gpt / 0.9 m | |||||||||
| PAM26-0184 | 109.5 | 74.3 | 82.5 | 8.2 | 2.14 | 5.40 gpt / 0.6 m 9.64 gpt / 0.3 m | |||||||||
| PAM26-0186 | 303.0 | 91.5 | 104.1 | 12.6 | 2.95 | 5.57 gpt / 0.9 m 6.25 gpt / 0.9 m 5.11 gpt / 1.0 m 8.52 gpt / 0.5 m | |||||||||
| 150.0 | 166.5 | 16.5 | 1.00 | 22.90 gpt / 0.3 m | |||||||||||
| Pamour - In Pit | PAM25-0030 | 272.7 | 105.5 | 137.6 | 32.1 | 0.91 | 9.68 gpt / 0.3 m 24.70 gpt / 0.3 m | ||||||||
| 247.4 | 272.7 | 25.3 | 1.32 | 6.80 gpt / 2.6 m 11.10 gpt / 0.5 m | |||||||||||
| PAM25-0047 | 287.0 | 232.0 | 239.0 | 7.0 | 2.07 | 13.4 gpt / 0.3m | |||||||||
| 245.7 | 263.5 | 17.8 | 1.29 | 7.3 gpt / 0.4m 14.2 gpt / 0.4m | |||||||||||
| PAM25-0049 | 222.0 | 117.0 | 123.0 | 6.0 | 1.07 | 5.71 gpt / 0.3 m 9.17 gpt / 0.3 m | |||||||||
| PAM25-0055 | 282.0 | 227.7 | 273.0 | 45.3 | 2.29 | 5.80 gpt / 0.5 m 6.17 gpt / 0.5 m 7.46 gpt / 1.5 m 25.50 gpt / 1.5 m | |||||||||
| PAM25-0071LR | 300.0 | 47.8 | 72.0 | 24.2 | 0.93 | ||||||||||
| PAM25-0073 | 129.0 | 14.9 | 43.0 | 28.1 | 0.65 | ||||||||||
| PAM25-0086 | 199.1 | 33.0 | 41.0 | 8.0 | 1.69 | 19.80 gpt / 0.5m | |||||||||
| 99.2 | 105.3 | 6.1 | 2.00 | 40.60 gpt / 0.3 m | |||||||||||
| 153.0 | 193.5 | 40.5 | 0.90 | 9.59 gpt / 0.5 m 7.00 gpt / 0.5 m | |||||||||||
| PAM25-0087LR | 132.0 | 27.5 | 39.0 | 11.5 | 1.72 | ||||||||||
| PAM25-0088 | 141.0 | 23.9 | 30.0 | 6.1 | 2.80 | 17.07 gpt / 0.9 m | |||||||||
| 115.3 | 121.7 | 6.4 | 1.13 | ||||||||||||
| PAM25-0094 | 246.0 | 140.0 | 194.1 | 54.1 | 1.36 | 5.22 gpt / 1.5 m 46.70 gpt / 0.5 m 6.93 gpt / 1.1 m | |||||||||
| 191.8 | 204.2 | 12.4 | 1.25 | 7.05 gpt / 1.0 m | |||||||||||
| PAM25-0097 | 81.0 | 24.3 | 30.5 | 6.2 | 2.79 | 11.40 gpt / 1.0 m | |||||||||
| PAM25-0103 | 351.0 | 223.8 | 293.5 | 69.7 | 0.98 | 14.60 gpt / 1.0 m 9.28 gpt / 0.5 m | |||||||||
| PAM25-0104 | 354.0 | 232.0 | 290.8 | 58.8 | 1.08 | 5.66 gpt / 1.0 m | |||||||||
| PAM25-0105 | 201.0 | 25.0 | 71.0 | 46.0 | 0.71 | 9.33 gpt / 1.0 m 7.94 gpt / 1.0 m | |||||||||
| PAM25-0108 | 291.0 | 18.8 | 41.0 | 22.2 | 1.15 | 24.6gpt / 0.3m 6.6gpt / 1.0m 9.70gpt / 0.5m | |||||||||
| 96.5 | 105.5 | 9.0 | 1.34 | ||||||||||||
| PAM25-0109 | 360.0 | 62.7 | 81.0 | 18.3 | 0.80 | ||||||||||
| 227.0 | 336.0 | 109.0 | 1.15 | 5.33 gpt / 0.3 m 8.42 gpt / 0.3 m 14.1 gpt / 0.5 m | |||||||||||
| PAM25-0110 | 232.5 | 20.0 | 31.2 | 11.2 | 8.34 | 66.60 gpt / 1.1 m 21.7 gpt / 0.8 m | |||||||||
| PAM25-0111 | 240.0 | 105.0 | 109.4 | 4.4 | 2.09 | 10.8gpt / 0.5m | |||||||||
| PAM25-0115 | 414.0 | 326.7 | 362.5 | 35.8 | 1.14 | 5.76 gpt / 0.5 m | |||||||||
| PAM25-0116 | 426.0 | 78.2 | 97.9 | 19.7 | 5.25 | 15.10 gpt / 0.4 m 6.33 gpt / 0.4 m 21.30 gpt / 0.3 gpt 169.00 gpt / 0.7 m 9.88 gpt / 0.3 m | |||||||||
| 115.7 | 138.0 | 22.3 | 2.42 | 102.00 / 0.4 m | |||||||||||
| 257.1 | 271.3 | 14.2 | 0.77 | ||||||||||||
| 276.1 | 306.8 | 30.7 | 1.58 | 5.51 gpt / 1.2 m 5.96 gpt / 0.9 m | |||||||||||
| 312.0 | 354.9 | 42.9 | 0.75 | 5.30 gpt / 1.0 m | |||||||||||
| PAM25-0123A | 402.0 | 97.5 | 107.0 | 9.5 | 5.07 | 41.2 gpt / 0.5 m 18.94 gpt / 1.0 m | |||||||||
| 130.0 | 144.5 | 14.5 | 1.22 | ||||||||||||
| 306.6 | 322.6 | 16.0 | 1.36 | ||||||||||||
| 346.3 | 350.8 | 4.5 | 1.83 | 19.20 gpt / 0.3 m | |||||||||||
| PAM25-0130 | 102.0 | 68.5 | 73.5 | 5.0 | 8.51 | 28.00 gpt / 1.5 m | |||||||||
| PAM25-0131 | 129.0 | 58.6 | 65.5 | 6.9 | 1.35 | ||||||||||
| PAM25-0132 | 501.0 | 58.0 | 63.0 | 5.0 | 1.78 | ||||||||||
| 156.5 | 169.1 | 12.6 | 4.54 | 43.00 gpt / 0.8 m | |||||||||||
| 234.0 | 250.5 | 16.5 | 0.84 | ||||||||||||
| 270.5 | 309.0 | 38.5 | 0.87 | ||||||||||||
| PAM25-0133 | 588.0 | 266.0 | 288.8 | 22.8 | 1.55 | 7.56 gpt / 1.0 m | |||||||||
| 310.0 | 321.0 | 11.0 | 1.14 | ||||||||||||
| 353.5 | 359.0 | 5.5 | 1.70 | 5.31 gpt / 0.7 m | |||||||||||
| PAM25-0139 | 162.0 | 33.0 | 54.6 | 21.6 | 1.20 | ||||||||||
- All assays are reported uncut.
- Intervals are reported using core lengths only as true widths are not known at this time.
- Holes PAM25-0048, -0152, -0188, -0077LR, -0078, -0172, -0174, -0179, -0181 are not included in the table above as they have low grade values.
Figure 9. Pamour Open Pit
Dome Mine Project
Drilling at Dome included a total of 15 holes (4,825 m) being completed (Figure 10), with one hole (18 m) being abandoned due to excessive deviation from the target.
Dome is among the largest historic gold producers in Canada, with total production of 16.7 million ounces from both underground and open pit sources between 1910 and 2017.
Geologically, the mine is located on the south limb of the Porcupine Syncline and is just north of the Destor Porcupine Fault, with mineralization in multiple zones extending from surface to a depth of approximately 1,600 m.
The current mineral resource at Dome includes 222.3 million tonnes with an average grade of 1.49 gpt for a total of 11.0 million ounces in the Inferred category. The resource assumes a large-scale, open-pit concept to expand the historic pit along strike and to depth.
The current drill program is being completed in preparation for a new mineral resource estimate and involves drilling in areas surrounding and below the historic pit. The work program also includes further evaluations of data and mineralization models to upgrade portions of the resource to the Indicated resource category, and also to evaluate the potential for future underground mining at Dome.
The new drilling was focused on infilling gaps in information and confirmation of historic drill holes in the southwest and northeast portions of the property and obtained very positive results.
Drilling in the northeast portion of the property included 10 holes (3,765.4 m) to evaluate mineralization along the northeast extension of the Dome Fault near the lower portion of the current resource pit. The holes were drilled on four cross sections spaced at 10 to 15 m centers and oriented in a northwesterly direction to cross the main trends of mineralization. Results from the drilling were very successful and indicated close correlation of geology, with similar or better grades and widths for new vs historic holes, which were drilled prior to 1970. Significant results from the drilling include: 1.13 gpt over 29.7m in hole DOM25-037; 1.01 gpt over 20.0m and 4.20 gpt over 3.0m in hole DOM26-001; 1.19 gpt over 28.9m in hole DOM26-003; and 3.16 gpt over 15.0m in hole DOM26-004. These new results are in addition to the previously released results of 2.50 gpt over 12.4m and 3.97 gpt over 6.0m in hole DOM25-030 in the same target area (see press release dated February 10, 2026 - Table 6).
Drilling in the southwest portion of the property included four exploration holes (1041.5 m) completed as part of the ongoing evaluation of new targets to the south of the open pit resource. These holes were successful in continuing to identify new mineralization at shallow depths from surface. Significant results from this area include: 2.77 gpt over 10.9m and 1.21 gpt over 11.3m in hole DOM25-020; 0.60 gpt over 8.2m in hole DOM25-018; and 3.11 gpt over 3.5m in hole DOM25-017.The intercept from DOM25-020 is located approximately 60 m southwest of the main pit, while the intercepts from holes DOM25-018 and DOM25-17 were 60m and 120m further to the north.
Drilling at the project is continuing with two drills, one located in the southwest portion of the historic open pit and the other on the north side. Work is also continuing to evaluate additional drill targets to the north, south and west sides of the pit. Considering results and progress to date, the project remains on track for the planned resource update in late 2026.
Table 6: Intercepts from New Drilling at Dome Project1,2,3
| ZONE | Area | Hole ID | Total Hole Depth (m) | From | To | Core length | Au | Notes |
| (m) | (m) | (m) | (g/t) | |||||
| DOME | Preston | DOM25-018 | 336.0 | 115.8 | 124.0 | 8.2 | 0.60 | Out |
| Preston | DOM25-017 | 246.0 | 28.5 | 32.0 | 3.5 | 3.11 | Out | |
| Preston | DOM25-020 | 159.5 | 125.9 | 136.8 | 10.9 | 2.77 | Out | |
| 146.0 | 157.3 | 11.3 | 1.21 | Out | ||||
| NE/Blueberry | DOM25-031 | 345.0 | 50.5 | 52.0 | 1.5 | 21.95 | In Pit | |
| 274.5 | 309.7 | 35.2 | 1.19 | In Pit | ||||
| NE/Blueberry | DOM25-032 | 338.0 | 285.5 | 313.0 | 27.5 | 0.62 | In Pit | |
| 325.2 | 331.6 | 6.4 | 0.46 | Out | ||||
| NE/Blueberry | DOM25-033 | 352.0 | 308.5 | 329.2 | 20.7 | 0.75 | In Pit | |
| 343.1 | 349.8 | 6.7 | 0.79 | In Pit | ||||
| NE/Blueberry | DOM25-034 | 381.4 | 332.4 | 339.0 | 6.6 | 1.25 | In Pit | |
| 349.7 | 353.3 | 3.6 | 1.65 | In Pit | ||||
| 368.1 | 368.8 | 0.7 | 14.70 | In Pit | ||||
| NE/Blueberry | DOM25-036 | 390.0 | 311.5 | 333.0 | 21.5 | 1.24 | In Pit | |
| 345.6 | 347.3 | 1.7 | 16.57 | Out | ||||
| NE/Blueberry | DOM25-037 | 306.0 | 263.0 | 292.7 | 29.7 | 1.13 | In Pit | |
| NE/Blueberry | DOM26-001 | 420.0 | 177.0 | 180.0 | 3.0 | 4.20 | In Pit | |
| 358.5 | 378.5 | 20.0 | 1.01 | Out | ||||
| NE/Blueberry | DOM26-002 | 379.0 | 342.5 | 357.7 | 15.2 | 0.73 | Out | |
| NE/Blueberry | DOM26-003 | 415.0 | 352.6 | 381.5 | 28.9 | 1.19 | Out | |
| NE/Blueberry | DOM26-004 | 439.0 | 389.0 | 404.0 | 15.0 | 3.16 | Out |
- All assays are reported uncut.
- Intervals are reported using core lengths only as true widths are not known at this time.
- Hole DOM25-029 is not included in the table above as it had low grade values
Figure 10. Dome
QUALIFIED PERSONS
Discovery’s exploration programs at the Porcupine Operations are conducted under the supervision of Eric Kallio, P.Geo., Senior Vice President, Exploration, Kara Byrnes, P.Geo, Vice President, Exploration and Geology – Porcupine and Craig Yuill, P.Geo., Exploration Manager. Mr. Kallio, Ms. Byrnes and Mr. Yuill are “qualified persons” for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects, of the Canadian Securities Administrators, and have reviewed and approved the scientific and technical information in this news release.
Readers are referred to the mineral resource estimate as set out in the Company’s current technical report entitled “Porcupine Complex, Ontario, Canada NI 43-101 Report on Preliminary Assessment” with an effective date of January 13, 2025 (the “Technical Report”), which is available under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca. Statements concerning mineral resource estimates may also be deemed to constitute forward looking information to the extent that they involve estimates of the mineralization that will be encountered if the property is developed. The Technical Report includes the results of a preliminary economic assessment which is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the preliminary economic assessment will be realized.
QA/QC CONTROLS
The Company follows a quality assurance and control (“QA/QC”) program to ensure that sampling and analysis of all exploration work is conducted in accordance with best practices.
At Borden, samples are logged and sampled in a secure facility in Chapleau, Ontario and under supervision of Qualified Geologists. NQ sized core is predominantly sawn in half with one half of the core prepared for shipment, the other half of core retained for future assay verification. Certified reference material (CRM) standards, coarse blank material and duplicates are inserted every 20 samples. Core samples are picked up by Activation Laboratories and tracked via a chain of custody from site to the certified off-site analytical laboratory for preparation and assaying.
At Pamour, core is logged and sampled in a secure facility at the Hoyle Pond mine site and under supervision of Qualified Geologists. The NQ sized core is predominantly whole core sampled with select holes being sawn in half for future verification. CRM standards, coarse blank material and duplicates are inserted every 20 samples. Samples are picked up by Activation Laboratories and tracked via a chain of custody from site to the lab for preparation and assaying.
At Hoyle Pond and TVZ, core is logged and sampled in a secure facility at the Hoyle Pond mine site and under supervision of Qualified Geologists. The NQ sized drill core is predominantly sawn in half with one half of the core prepared for shipment, the other half of core retained for future assay verification. CRM standards, coarse blank material and duplicates are inserted every 20 samples. Core samples are picked up by Activation Laboratories at the Hoyle Pond facility and tracked via a chain of custody from site to the lab for preparation and assaying.
At Dome, core is logged and sampled in a secure facility at the Dome mine site and under supervision of Qualified Geologists. The NQ sized drill core is predominantly sawn in half with one half of the core prepared for shipment, the other half of core retained for future assay verification. CRM standards, coarse blank material and duplicates are inserted every 20 samples. Core samples are picked up by Activation Laboratories at the Dome Mine core facility and tracked via a chain of custody from site to the lab for preparation and assaying.
At Owl Creek, all new drill core collected by Discovery is logged and sampled in a secure facility at the Hoyle Pond mine site and under supervision of Qualified Geologists. The NQ sized drill core is predominantly sawn in half with one half of the core prepared for shipment, the other half of core retained for future assay verification. CRM standards, coarse blank material and duplicates are inserted every 20 samples. Core samples are picked up by Activation Laboratories at the Hoyle Pond facility and tracked via a chain of custody from site to the lab for preparation and assaying.
Discovery utilizes the accredited external lab Activation Laboratories to manage its core analysis. ActLabs is certified by the Standards Council of Canada which conforms with ASB-RG Mineral Analysis Laboratory for the Accreditation of Mineral Analysis Testing Laboratories and CAN-P-4E ISO/IEC 17025: General Requirements for the Competence of Testing and Calibration Laboratories.
Sample preparation includes crushing drill core up to 80% passing 2 mm, riffle splitting 500 grams and pulverizing to 95% passing 105 µm followed by both scheduled and specifically requested silica sand cleaning. Gold Analysis involves Fire Assay – Atomic Absorption technique from a 50-gram pulp sample with grade ranges between 5 to 10,000 ppb. Samples greater than 10,000 ppb are analyzed with a gravimetric finish. Selected high grade samples are also analyzed using the screen metallics procedure.
ABOUT DISCOVERY
Discovery is a growing precious metals company that is creating value for stakeholders through exposure to both gold and silver. The Company’s silver exposure comes from its first asset, the 100%-owned Cordero project, one of the world’s largest undeveloped silver deposits, which is located close to infrastructure in a prolific mining belt in Chihuahua State, Mexico. On April 15, 2025, Discovery completed the acquisition of the Porcupine Complex, transforming the Company into a new Canadian gold producer with multiple operations in one of the world’s most renowned gold camps in and near Timmins, Ontario. Discovery owns a dominant land position within the camp, with a large base of Mineral Resources remaining and substantial growth and exploration upside.
On Behalf of the Board of Directors,
Tony Makuch, P. Eng
President, CEO & Director
For further information contact:
Mark Utting, CFA
SVP Investor Relations
Phone: 416-806-6298
Email: mark.utting@discoverysilver.com
Website: www.discoverysilver.com
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking. Although Discovery believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Statements include but are not limited to the resource conversion and expansion drilling at Hoyle Pond, Borden and Pamour mine sites, the high-grade mineralization potential from Owl Creek, located within close proximity to Hoyle Pond; the anticipated results and timing associated with the updated exploration program at the Porcupine Complex; the ability to make new discoveries across the broader property; the ability to complete and the anticipated benefits associated from the development of the Dome and TVZ work programs; the timing associated with a new mineral resource update planned in 2026 and the anticipated benefits thereof; the ability to convert and extend mineral resources at Pamour; the development of the Porcupine Operations and its attractive economics and significant exploration upside; construction decision and development, the results of the Technical Report and the anticipated capital and operating costs, sustaining costs, net present value, internal rate of return, the method of mining the Porcupine Operations, payback period, process capacity, average annual metal production, average process recoveries, concession renewal, permitting of the assets, anticipated mining and processing methods, feasibility study production schedule and metal production profile, anticipated construction period, anticipated mine life, expected recoveries and grades, anticipated production rates, infrastructure, social and environmental impact studies, the completion of key de-risking items, including the timing of receipt permits, availability of water and power, availability of labour, job creation and other local economic benefits, tax rates and commodity prices that would support development of the Project, and other statements that express management's expectations or estimates of future performance, operational, geological or financial results Information concerning mineral resource/reserve estimates and the economic analysis thereof contained in the results of the feasibility study are also forward-looking statements in that they reflect a prediction of the mineralization that would be encountered, and the results of mining, if a mineral deposit were developed and mined. Forward-looking statements are statements that are not historical facts which address events, results, outcomes or developments that the Company expects to occur. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties.
Factors that could cause actual results to differ materially from those described in forward-looking statements include the completion of the drill programs and the results thereon, the ability to complete the required drilling on a timely basis and the impact of the completion of such drill programs on the ability for the Company to prepare an updated resource estimate in 2026; fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market access restrictions or tariffs, changes in U.S. laws and policies regarding regulating international trade, including but not limited to changes to or implementation of tariffs, trade restrictions, or responsive measures of foreign and domestic governments, changes to cost and availability of goods and raw materials, along with supply, logistics and transportation constraints, changes in general economic conditions including market volatility due to uncertain trade policies and tariffs, , the actual results of current and future exploration activities; changes to current estimates of mineral reserves and mineral resources; conclusions of economic and geological evaluations; changes in project parameters as plans continue to be refined; the speculative nature of mineral exploration and development; risks in obtaining and maintaining necessary licenses, permits and authorizations for the Company’s development stage and operating assets; the accuracy of historical and forward-looking operational and financial information estimates provided by Newmont; the Company’s ability to integrate the Porcupine Operations; statements regarding the Porcupine Operations, including the results of technical studies and the anticipated capital and operating costs, sustaining costs , internal rate of return, concession or claim renewal, the projected mine life and other attributes of the Porcupine Operations, including net present value, the timing of any environmental assessment processes, reclamation obligations; operations may be exposed to new diseases, epidemics and pandemics, including any ongoing or future effects of COVID-19 (and any related ongoing or future regulatory or government responses) and its impact on the broader market and the trading price of the Company’s shares; provincial and federal orders or mandates (including with respect to mining operations generally or auxiliary businesses or services required for operations) in Canada and Mexico, all of which may affect many aspects of the Company's operations including the ability to transport personnel to and from site, contractor and supply availability and the ability to sell or deliver mined silver; changes in national and local government legislation, controls or regulations; failure to comply with environmental and health and safety laws and regulations; labour and contractor availability (and being able to secure the same on favourable terms); disruptions in the maintenance or provision of required infrastructure and information technology systems; fluctuations in the price of gold or certain other commodities such as, diesel fuel, natural gas, and electricity; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges and changes to production estimates (which assume accuracy of projected ore grade, mining rates, recovery timing and recovery rate estimates and may be impacted by unscheduled maintenance); changes in foreign exchange rates (particularly the Canadian dollar, U.S. dollar and Mexican peso); the impact of inflation; geopolitical conflicts; employee and community relations; the impact of litigation and administrative proceedings (including but not limited to mining reform laws in Mexico) and any interim or final court, arbitral and/or administrative decisions; disruptions affecting operations; availability of and increased costs associated with mining inputs and labour; delays in construction decisions and any development of the Porcupine Operations; changes with respect to the intended method of mining and processing ore from the Porcupine Operations; inherent risks and hazards associated with mining and mineral processing including environmental hazards, industrial accidents, unusual or unexpected formations, pressures and cave-ins; the risk that the Company’s mines may not perform as planned; uncertainty with the Company's ability to secure additional capital to execute its business plans; contests over title to properties; expropriation +or nationalization of property; political or economic developments in Canada and Mexico and other jurisdictions in which the Company may carry on business in the future; increased costs and risks related to the potential impact of climate change; the costs and timing of exploration, construction and development of new deposits; risk of loss due to sabotage, protests and other civil disturbances; the impact of global liquidity and credit availability and the values of assets and liabilities based on projected future cash flows; risks arising from holding derivative instruments; and business opportunities that may be pursued by the Company. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. Discovery does not assume any obligation to update any forward-looking statements except as required under applicable laws. The risks and uncertainties that may affect forward-looking statements, or the material factors or assumptions used to develop such forward-looking information, are described under the heading "Risks Factors" in the Company’s Annual Information Form dated February 19, 2026, and the Company’s technical report (the “Technical Report”) entitled “Porcupine Complex, Ontario, Canada NI 43-101 Report on Preliminary Assessment” with an effective date of January 13, 2025, which is available under the Company’s issuer profile on SEDAR+ at www.sedarplus.ca.
Preliminary Economic Assessment Disclaimer: The Technical Report includes the results of a preliminary economic assessment which is preliminary in nature. It includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves and there is no certainty that the preliminary economic assessment will be realized. Readers should refer to the full text of the Technical Report related to Mineral Resources and Mineral Reserves estimates as filed on www.sedarplus.ca.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0c4880da-6a46-427a-8634-8619a6100750
https://www.globenewswire.com/NewsRoom/AttachmentNg/f0d62fe0-9a6a-4ee1-9856-b1fd7bf03c33
https://www.globenewswire.com/NewsRoom/AttachmentNg/5c7621ba-6510-44cd-ab8f-f798407e89fb
https://www.globenewswire.com/NewsRoom/AttachmentNg/b160ba06-1d2c-42f2-8b12-c8c3dde993ad
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https://www.globenewswire.com/NewsRoom/AttachmentNg/25bafe76-ae9b-474c-9022-def8ba781e26
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