Discovery Announces Continued Exploration Success at Borden, Extends Main Zone Over Half a Kilometre
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Discovery Announces Continued Exploration Success at Borden,
Extends Main Zone Over Half a Kilometre
▪ Underground drilling continues to confirm and expand Main and East Lower Zones (ELZ)1,2,3
• Main Zone: 9.16 gpt over 25.9m including 18.4 0 gpt over 4.0m and including 21.52 gpt over
4.8m; 7.01 gpt over 1 0.2m; 7.63 gpt over 8.6m; 4.75 gpt over 19.3m, including 7.90 gpt over
5.0m; 9.23 gpt over 14.0m, including 13.41 gpt over 8.3m; and 12.79 gpt over 7.3m including
18.45 gpt over 4.4m
• East Lower Zone: 6.92 gpt over 12.9m, including 9.16 gpt over 7.3m; 13.33 gpt over 13.2m,
including 31.04 gpt over 4.7m; 5.25 gpt over 15.4m, including 10.09 gpt over 5.5m ; and 10.21
gpt over 3.9m
▪ Surface drilling extends Main Zone over half a kilometre down plunge to the northeast1,2,3
• 6.34 gpt over 8.7m, including 11.04 gpt over 3.7m
1. All assays are reported uncut.
2. In this news release, “gpt” refers to grams per tonne, and “m” refer to metres.
3. Intervals are reported using both true widths and core lengths.
August 10, 2026, Toronto, Ontario – Discovery Mining Ltd . (TSX: DSV, OTCQX: DSVSF)
(“Discovery” or the “ Company”) today reported results from ongoing exploration at the Company’s
Borden Mine, as part of the Company’s 255,000 – 285,000 m 2026 exploration program. The results,
which include 21 holes ( 7,036 m), continued to confirm and expand mi neral resources and also
significantly extended mineralization in the Main Zone, the primary source of current production at the
Borden operation.
Tony Makuch, Discovery’s President, CEO and Chairman, commented: “Exploration drilling at Borden
continues to generate excellent results. Borden includes an extensive land position in a highly -
prospective, under explored, greenstone belt in the Abitibi. Today’s results include further progress with
resource conversion and expansion drilling in the Main and East Lower zones, where we continue to
produce intersections that as good, or better, than those included the current resource model. In
addition, we have been ramping up surface drilling to begin accessing Borden’s larger -scale potential
of growth. Early results from surface drilling have been very encouraging, including returning
intersections that extend the Main Zone by over half a kilometre down plunge to the northeast from the
current inferred resource. These results highlight the prospectivity of the area and are a great start to
our plan to build-out the Borden operation. We plan to continue drilling to the northeast to find additional
extensions as work to demonstrate that there is much more gold to be discovered on our 1,000 km 2
land position in the Abitibi near Chapleau.”
Drilling at the Borden Mine included a total of 22 holes (7,411.6m) from surface and underground to
convert and expand resources in the Main Zone and East Lower Zone, near the northeast limit of
inferred resources (Figures 1, 2 and 3).
Link to 3D Visuals: https://vrify.com/decks/23611?auth=a727fee7-ac0e-4d36-8728-7e60aa2614fd
NEWS RELEASE
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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 1 hole (1,344) completed from surface and 14 holes (4,187.6 m)
drilled from underground.
Drilling from underground included was completed from cut outs located in the east portion of the 585-
exploration drift , situated in the hanging wall of the zone and continued to demonstrate extremely
positive results including intercepts of 9.16 gpt over 25.9m including 18.40 gpt over 4.0m and
including 21.52gpt over 4.8m, in 585-00275; 12.79 gpt over 7.3m, including 18.45 gpt over 4.4m in
hole 585-00142; 6.11 gpt over 3.2m, in hole 585-00130; 7.01 gpt over 10.2m, in 585-00148; 4.75gpt
over 19.3m, including 7.90 gpt over 5.0m , in hole 585 -00305; and 9.23 gpt over 14.0m , including
13.41 gpt over 8.3m, in hole 585 -00306 (Table 1). Holes 585 -00142 and 585 -00130 were drilled
approximately 100 meters down plunge of the current inferred resource and holes 585-00305 and 585-
00306 were drilled 75 to 100 meters to the east.
Hole BL26-001119, drilled from surface, targeted 350 meters along strike from the current resource and
achieved positive results with an intercept of 6.34 gpt over 8.7m, including 11.04 gpt over 3.7m.
Drilling at the East Lower Zone included 7 holes (1,880 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: 6.92 gpt over 12.9m, including 9.16 gpt over 7.3m, in hole 585-00292; 13.33 gpt over
13.2m, including 31.04 gpt over 4.7m, in hole 585-00291; 5.25 gpt over 15.4m, including 10.09 gpt
over 5.5m, in hole 585-00298; 10.21 gpt over 3.9m, in hole 585-00294; and 3.59 gpt over 17.4, in
hole 585-00290, which are located near the limit of the current inferred resource. The zone remains
open to depth.
Review of the above drill results indicate that both the Main Zone and East Lower Zone 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 new intercepts located down plunge and to the northeast continue to
demonstrate the excellent 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.
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Table 1: Intercepts from Borden Underground Mine1,2,3
ZONE Hole ID
Total
Hole
Depth
From To Core
length
Estimated
True
Width
Au
Notes
(m) (m) (m) (m) (g/t)
Deep
Main
Zone
585-00275 215.0
166.9 196.3 29.4 25.9 9.16
incl
168.3 172.9 4.6 4.0 18.40
incl
185.4 190.8 5.4 4.8 21.52
585-00142 379.7
343.2 351.3 8.1 7.3 12.79
incl
345.2 350.1 4.9 4.4 18.45
585-00306 290.8
246.0 261.5 15.5 14.0 9.23
incl
251.5 260.7 9.2 8.3 13.41
585-00272 228.0 206.5 215.7 9.2 8.6 7.63
585-00148 348.8
305.2 316.0 10.8 10.2 7.01
incl
305.2 310.1 4.9 4.6 12.43
585-00274 237.0 195.0 208.1 13.1 8.3 6.15
585-00305 311.6
260.0 281.1 21.1 19.3 4.75
incl
266.0 271.5 5.5 5.0 7.90
585-00303 360.4 310.5 316.2 5.7 4.5 4.59
585-00307 286.0 242.0 245.1 3.1 2.8 4.01
249.3 252.0 2.7 2.6 5.15
585-00308 338.0
288.5 294.4 5.9 5.0 4.10
incl
290.0 292.3 2.3 2.0 6.13
585-00278 256.0 221.0 224.5 3.5 2.8 5.09
585-00311 204.7
119.5 130.7 11.2 8.6 5.72
DZ1 incl
120.8 126.4 5.6 4.3 8.58
144.6 147.2 2.6 2.0 6.70
585-00130 360.1 331.4 335.0 3.6 3.2 6.11
East
Lower
Zone
585-00291 252.0
222.0 242.1 20.1 13.2 13.33
incl
235.0 242.1 7.1 4.7 31.04
585-00292 267.2
260.0 279.5 19.5 12.9 6.92
incl
268.5 279.5 11.0 7.3 9.16
4
incl
273.0 279.5 6.5 4.3 12.95
585-00298 322.9
275.1 296.7 21.6 15.4 5.25
incl
275.5 283.3 7.8 5.5 10.09
585-00294 260.6 221.1 227.1 6.0 3.9 10.21
236.5 240.0 3.5 2.0 4.37
585-00290 250.3
208.7 231.4 22.7 17.4 3.59
incl
220.6 231.4 10.8 8.2 4.31
incl
227.0 231.4 4.4 3.3 7.67
585-00286 252.0
191.6 206.8 15.2 9.9 3.37
incl
200.3 204.3 4.0 2.6 5.07
585-00301 275.0
147.1 149.3 2.2 1.4 6.16
219.8 220.4 0.6 0.4 5.21
232.6 233.9 1.3 0.8 3.01
Borden
Surface
BL26-
001119 1344.0
1247.1 1257.1 10.0 8.7 6.34
incl
1250.6 1254.9 4.3 3.7 11.04
1. All assays are reported uncut.
2. Intervals are reported using both true widths and core lengths.
3. Holes 585-00131 and 585-00140 are not included in the above table as they had low grade values
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Figure 1. Borden Mine
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Figure 2. Borden Mine – Deep Main Zone
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Figure 3. Borden Mine – East Lower Zone “ELZ”
QUALIFIED PERSONS
Discovery’s exploration programs at Borden 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.
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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.
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 Tes ting 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 Mining Ltd. is a growing precious metals company that is creating value for stakeholders
through exposure to gold, silver and other critical minerals. Discovery is advancing plans to more than
double annual gold production through investment in t he Company’s Porcupine assets, which include
multiple operations, attractive growth projects and significant exploration upside in one of the world’s
most renowned gold camps in and near Timmins, Ontario. The acquisition of the Kidd Operations in
June 2026 further increased Discovery’s land position within the camp, provided valuable infrastructure
that will support the Company’s growing gold business, and added critical minerals to the Company’s
current production profile. Discovery’s silver exposure comes mainly from 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 Behalf of the Board of Directors,
Tony Makuch, P. Eng
President, CEO & Chairman
For further information contact:
Mark Utting, CFA
SVP Investor Relations
Phone: 416-806-6298
Email: [email protected]
Website: www.dsvmining.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 belie ves the expectations expressed in such forward -looking statements are based on