Discovery Provides Update ON Business Continuity Plans IN Response to COVID-19
DISCOVERY PROVIDES UPDATE ON BUSINESS CONTINUITY PLANS IN
RESPONSE TO COVID-19
March 19, 2020, Toronto, Ontario - Discovery Metals Corp. (TSX-V: DSV, OTCQX: DSVMF)
(“Discovery” or the “Company”) announces that it has begun implementing business continuity plans
and procedures at its Mexican operations and corporate office in Toronto in response to developing
concerns around COVID-19.
Taj Singh, President and CEO, states: “Ensuring the health and safety of our workforce is Discovery’s
highest priority. There have not been any confirmed or suspected cases of COVID-19 at any of our
operations however the Company has begun implementing various precautionary measures aimed at
reducing the risk of COVID-19 impacting employees , their families , local communities and all
stakeholders.”
In response to ongoing concerns around COVID -19 Discovery has chosen to decelerate exploration
activity at the Cordero Project (“Cordero”) to one drill rig in order to limit the number of employees at
site. Additional health and safety protocols have also been implemented and the Company has also
restricted international travel to site.
The Company is committed to remaining engaged with our local stakeholders during this uncertain
period. The Company will continue to closely monitor the directives of all levels of government in both
Mexico and Canada as well as the relevant health authorities and will take necessary action should the
situation escalate.
Mr. Singh, further states: “Although slowing down our activities at Cordero has been a difficult decision
for the Company to make, we believe it i s a prudent measure that will ensure we retain our key
employees and preserve our capital structure so that we can quickly ramp up activities when the current
risks subside. In the meantime, we wil l continue to advance our target generation and resource
modelling work through integrating the historical data with the excellent results collected from the
17,000m of drilling we have completed to date.”
The Company had a cash balance of C$24 million as at December 31, 2019.
About Discovery
Discovery Metals Corp. (TSX -V: DSV, OTCQX: DSVMF ) is a Canadian exploration and development
company headquartered in Toronto, Canada, and focused on historic mining districts in Mexico.
Discovery’s flagship is its 100%-owned Cordero silver project in Chihuahua State, Mexico. The 35,000-
hectare property covers a large district that hosts the announced resource as well as numerous
exploration targets for bulk tonnage diatreme- hosted, porphyry -style, and carbonate replacement
deposits. In addition, Discovery is also exploring multiple high-grade carbonate replacement-style silver-
zinc-lead showings in a land package of approximately 150,000 hectares in Coahuila State, Mexico. The
land holdings contain numerous historical direct -ship ore workings and significant underground
development, but no drill-testing has ever been carried out on them.
NEWS RELEASE
For further information contact:
Forbes Gemmell, CFA
VP Corporate Development & Investor Relations
416-613-9414
On Behalf of the Board of Directors,
Taj Singh, M.Eng, P.Eng, CPA,
President, Chief Executive Officer, and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture 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.
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 any 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. 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. There can be no assurance that
the Private Placement will close on the announced terms. Discovery does not assume any obligation to update any forward-looking statements
except as required under applicable laws.