“Discovery” or the “Company”) announces the departure of Tony Esplin as Chief Operating Officer of the Company. With the recent additions to the management team and Board of Directors announced on
Di
scovery Silver Announces Management Change
November 29, 2023 , Toronto, Ontario – Discovery Silver Corp. (TSX: DSV, OTCQX: DSVS F)
(“Discovery” or the “Company”) announces the departure of Tony Esplin as Chief Operating Officer of
the Company.
With the recent additions to the management team and Board of Directors announced on August 24,
2023, the Company is well positioned to advance Cordero through its Feasibility Study and toward a
construction decision. The Feasibility Study continues to progress well and remains on track for delivery
in the first quarter of 2024.
Tony Makuch, President & CEO, states: “We are very grateful for the contributions Tony has made in
advancing Cordero over the last couple of years and we wish him all the best in his future endeavours.”
A
bout Discovery
Discovery’s flagship project is its 100% -owned Cordero project, one of the world’s largest silver
deposits. 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. Cordero is located close to infras tructure in a prolific mining belt in Chihuahua State,
Mexico.
On Behalf of the Board of Directors,
Tony Makuch, P.Eng
President, CEO & Director
For further information contact:
Forbes Gemmell, CFA
VP Corporate Development
Phone: 416-613-9410
Email: [email protected]
Website: www.discoverysilver.com
FORWARD-LOOKING STATEMENTS:
Neither TSX Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Exchange) accepts responsibility
for the adequacy or accuracy of this release.
This news release is not for distribution to United States newswire services or for dissemination in the United States.
NEWS RELEASE
This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of an y of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The
securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state
securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation
S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration
requirements is available.
Cautionary Note Regarding Forward-Looking Statements
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 regarding the results of
the pre-feasibility study and the anticipated capital and operating costs, sustaining costs, net present value, internal rate of return, payback
period, process capacity, average annual metal production, average process recoveries, concession renewal, permitting of the Project,
anticipated mining and processing methods, proposed pre- 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, availability of labour, tax rates and commodity prices that would support development of the Project. Information
concerning mineral resource/reserve estimates and the economic analysis thereof contained in the results of the pre-feasibility study are also
forward-looking statements in that they reflect a prediction of the mineralization that would be encountered, and the results of mini ng, 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 fluctuations in market prices,
including metal prices, continued availability of capital and financing, and general economic, market or business conditions. 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 st atements, 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 March 30, 2023, which is
available under the Company’s issuer profile on SEDAR at www.sedarplus.ca.