Discovery Reports Positive Drill Results at Key Growth Projects, Resource Estimates for Dome and TVZ on Track for Late 2026 Dome1 Drilling continues to intersect excellent grades and widths within and outside Resource pit shell2; Resource update on track for late 2026
1
Discovery Reports Positive Drill Results at Key Growth Projects,
Resource Estimates for Dome and TVZ on Track for Late 2026
Dome1
Drilling continues to intersect excellent grades and widths within and outside Resource
pit shell2; Resource update on track for late 2026
• 9.09 gpt3 over 17.3m3 including 14.76 gpt over 7.8m, 3.86 gpt over 18.0m including 15.39 gpt
over 2.6m, 13.49 gpt over 3.5m, 1.03 gpt over 17.8m, 4.89 gpt over 2.8m, 2.26 gpt over 4.2m;
5.04 gpt over 8.4m, 11.20 gpt over 3.0m; 0.79 gpt over 11.9m; 1.72 gpt over 7.0m, 0.76 gpt over
10.8m; 0.79 gpt over 6.0m, 3.26 gpt over 4.1m; 1.89 gpt over 12.1m; 1.48 gpt over 12.0m; 1.38
gpt over 17.0m; 1.61 gpt over 16.0m; 22.0 gpt over 1.0m; and 278.48 gpt over 1.1m
TVZ
New intersections indicate strong correlation of mineralized zones and grades with
previously drilled holes as well as potential grade upside2: Samples shipped for
Metallurgical testing; Initial National Instrument 43-101 (“NI 43-101”) Resource estimate
expected before year end2
• 1210 Level: 5.13 gpt gpt over 18.2m; 7.04 gpt over 16.9m; 5.17 gpt over 21.0m; 5.73 gpt over
23.2m; 6.93gpt over 11.7m; 5.65 gpt over 30.5m; 9.05 gpt over 13.2m and; 4.40 gpt over 14.0m,
including 7.03 gpt over 6.8m ; 5.24 gpt over 12.9m ; and 5.46 gpt over 12.5m ; 4.59 gpt over
25.0m; 4.54 gpt over 18.4m
• 1680 Level: 4.51 gpt over 9.0 m; 4.30 gpt over 24.4m, including 5.73 gpt over 12.4m
Owl Creek
Continuation of positive drill results; Exploration ramp development underway to
accelerate drilling along 1.5 km Hoyle Pond – Owl Creek Trend
• 7.09 gpt over 17.0m, including 23.12 gpt over 2.0; 6.35gpt over 9.4m, 2.69 gpt over 30.9m,
including 9.31 gpt over 2.0m, 2.86 gpt over 17.4m and; 3.41 gpt over 17.0m, including 7.45 gpt
over 3.1m; 5.73 gpt over 4.2m and 2.74 gpt over 30.4m; 4.72 gpt over 24.0m including 12.26 gpt
over 6.8m; 4.86 gpt over 8.4m; and 19.35 gpt over 5.4m, including 270.0 gpt over 0.3m.
1. All assays are reported uncut.
2. Intervals are reported using core lengths only as true widths are not known at this time.
3. In this news release, “gpt” refers to grams per tonne, and “m” refer to metres.
August 5, 2026 , Toronto, Ontario – Discovery Mining Ltd . (TSX: DSV, OTCQX: DSVSF)
(“Discovery” or the “ Company”) today reported results from ongoing exploration at the Company’s
advanced stage growth projects, Dome, TVZ and Owl Creek. The results, which include assays from a
combined total of 55 holes1 (17,845.5 m) completed between Q4 2025 and Q2 2026, continued to
expand mineralization, indicated excellent correlation of widths and grades to previous drilling and
clearly demonstrated the upside that exists at all three projects.
Line to 3D Visuals: https://vrify.com/decks/23480?auth=829532ad-ef99-48f1-a3e6-b5e9667f5c44
NEWS RELEASE
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Tony Makuch, Discovery’s CEO, commented: “The excellent drilling results we are announcing today
are extremely encouraging as we work towards releasing NI 43-101 resource estimates at Dome and
TVZ before the end of 2026, and further advancing Owl Creek. These are three critical growth projects
that, collectively, could contribute between a quarter and half a million ounces of annual gold production.
With an existing 11.0 million ounce Inferred Resource, we expect Dome to become our second large -
scale, open-pit operation in Timmins, along with Pamour, where recent drill results confirmed a strike
length extending more than 4.0 km, with the mineralization remaining open in multiple directions and at
depth. TVZ and Owl Creek are part of the Hoyle Pond Complex and both will benefit from our recent
acquisition of the Kidd Metallurgical Site, located contiguous to Hoyle Pond and Pamour. Our plan for
the Met Site is to construct a new conventional gold circuit that will process material from Pamour, Hoyle
Pond, Owl Creek and other potential new sources of production. We also plan to commence processing
Borden material using one of the current flotation circuits, likely beginning early next year, and will
convert another circuit to gold flotation for future processing of TVZ material, given the refractory nature
of the mineralization.
“Looking at today’s results, d rilling at Dome continued to intersect excellent grades and widths in the
southwest, north and northeast portions of the project, including favourable results from drilling below
the north wall of the current resource pit. At TVZ, additional high-grade intersections were reported from
drilling on both the 1210 and 1680 levels, with the results demonstrating excellent correlation of
mineralized zones and grades with previously drilled holes and also confirming the down plunge
potential of the TVZ zone. We also have completed drilling to collect samples for metallurgical testing,
with the results expected to be received later this year. Drilling at Owl Creek included additional positive
results, with the Company having now commenced work on a 1.5 km underground drift from Hoyle
Pond to Owl Creek . Development of the drift will support an acceleration of drilling for additional
extensions at Owl Creek and the 750 Zone, and the evaluation of new targets, such as the historic 350
Zone, which is located 500 m to the east of the 750 Zone.”
Dome Mine Project
Drilling at Dome included a total of 23 holes (8,391 m) being completed (Figure 1), with 5 holes (451
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 u pgrade portions of the resource to the Indicated
resource category, and to evaluate the potential for future underground mining at Dome.
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The new drilling was focused on infilling gaps in information and confirmation of historic drill holes in
the southwest, north and northeast portions of the property and continued to obtain highly encouraging
results.
Drilling in the southwest portion of the property included nine holes (3,096 m) to evaluate mineralization
near the limits of the current resource pit. and continued to indicate excellent grades and widths of
mineralization at very shallow depths from surface. Significant results include: 1.89 gpt over 12.1m, in
hole DOM26-033; 1.48 gpt over 12.0m, in DOM26-030; 1.38 gpt over 17.0m, in hole DOM26 -034;
0.79 gpt over 11.9m, in hole DOM26-024; and 1.72 gpt over 7.0m, 0.76 gpt over 10.8m; 0.79 gpt
over 6.0m and, 3.26 gpt over 4.1m, in hole DOM26-026 (Table 1).
Drilling in the north portion of the property included 8 holes (4,349 m) to evaluate the mineralization
below the north wall of the resource pit and was also very successful . Significant results include 9.09
gpt over 17.3m including 14.76 gpt over 7.8m, 3.86 gpt over 18.0m including 15.39 gpt over 2.6m,
13.49 gpt over 3.5m in hole DOM 26-050; 1.03 gpt over 17.8m, 4.89 gpt over 2.8m and, 2.26 gpt
over 4.2m, in hole DOM26-006A; 1.61 gpt over 13.2m and 22.0 gpt over 1.0m in hole DOM26 -011;
3.04 gpt over 2.0m in hole DOM26-015; 1.51 gpt over 3.8m in hole DOM26-016 and; 5.04 gpt over
8.4m, including 11.20 gpt over 3.0m, in hole DOM26-008.
Drilling to the northeast included one new hole (495 m) which tested near the northeast limit of the
resource pit and intersected a quartz vein structure containing 278.48 gpt over 1.1m, including 951.0
gpt over 0.3m.
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 1. Intercepts from New Drilling at Dome Project1,2
Area Hole ID Total Hole
Depth (m)
From To Core
length Au
Notes
(m) (m) (m) (g/t)
NE/Blueberry DOM26-005 495.0
298.8 299.9 1.1 278.48
In Pit incl
299.1 299.4 0.3 951.00
Tailings DOM26-006A 522.0
328.2 346.0 17.8 1.03 Out
353.0 355.8 2.8 4.89 Out
456.5 466.7 10.2 0.67 Out
471.7 473.5 1.8 4.38 Out
479.0 483.2 4.2 2.26 Out
Tailings DOM26-007LR 411.0 333.8 336.0 2.2 2.15 Out
Tailings DOM26-008 336.0
318.3 326.7 8.4 5.04
Out incl
323.2 326.2 3.0 11.20
Tailings DOM26-009 691.0 690.0 691.0 1.0 28.9 In Pit
Tailings DOM26-011 453.0 439.0 440.0 1.0 11.60 Out
347.0 349.0 2.0 5.13 Out
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379.0 380.0 1.0 22.00 Out
470.0 474.0 4.0 1.39 In Pit
493.3 506.5 13.2 1.61 In Pit
Tailings DOM26-015 687.0 611.0 613.0 2.0 3.04 Out
Tailings DOM26-016 690.0
51.2 55.0 3.8 1.51 In Pit
105.2 109.4 4.2 0.90 In Pit
669.0 671.5 2.5 1.68 Out
Tailings DOM26-050 559.0
341.0 358.3 17.3 9.09 Out
incl Out
342.7 350.5 7.8 14.76 Out
400.0 418.0 18.0 3.86 Out
incl Out
400.0 402.6 2.6 15.39 Out
445.0 448.5 3.5 13.49 Out
454.0 457.0 3.0 2.48 Out
Preston DOM26-020 300.0 36.0 39.5 3.5 2.30 Out
262.4 262.8 0.4 69.8 Out
Preston DOM26-024 465.0
19.0 20.0 1.0 10.8 Out
38.0 39.0 1.0 14.9 Out
43.0 47.0 4.0 1.16 Out
147.1 159.0 11.9 0.79 Out
Preston DOM26-021 210.0 40.6 53.6 13.0 0.70 Out
187.5 194.8 7.3 1.01 Out
Preston DOM26-022 462.0 33.5 51.7 18.2 0.62 Out
155.5 159.3 3.8 1.39 In Pit
Preston DOM26-026 612.0
8.0 15.0 7.0 1.72 In Pit
162.4 166.5 4.1 3.26 In Pit
180.0 190.8 10.8 0.76 Out
225.0 231.0 6.0 0.79 Out
283.0 285.0 2.0 6.30 Out
559.3 565.6 6.3 0.79 Out
Preston DOM26-028 240.0 14.0 19.3 5.3 1.43 In Pit
66.1 70.1 4.0 1.56 In Pit
Preston DOM26-030 375.0 156.0 168.0 12.0 1.48 In Pit
Preston DOM26-033 216.0 117.0 129.1 12.1 1.89 Out
Preston DOM26-034 216.0
64.0 67.0 3.0 7.64
Out incl
66.0 67.0 1.0 21.5
106.0 123.0 17.0 1.38 Out
1. All assays are reported uncut.
2. Intervals are reported using core lengths only as true widths are not known at this time.
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Figure 1. Dome Results
TVZ Project
Drilling at the Hoyle Pond Mine included a total of 22 holes totalling 5,238.5 m (including 1 abandoned
hole – 261m) 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 (Figures 2 and 3).
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.
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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 includes 19 holes (4,257m) that intersect the target model near the level
elevation and extend up to 200 metres above and below it. Selected intervals from these holes have
been sampled and submitted to XPS Laboratories in Sudbury, Ontario, for metallurgical testing. Results
are expected late 2026.
Significant results from holes drilled near the 1210 level include: 5.13 gpt over 18.2m and 5.15gpt
over 12.0m, in hole 27967; 7.04 gpt over 16.9m, in hole 27970; 5.17 gpt over 21.0m, in hole 27971;
5.73 gpt over 23.2m , in hole 27972; 6.93gpt over 11.7m and 4.54 gpt over 22.9m, in hole 27974;
5.65 gpt over 30.5m, including 9.05 gpt over 13.2m, in hole 27976; and 4.40 gpt over 14.0m, in hole
27977. Significant results from holes above the level include: 5.84 gpt over 10.6m, in hole 27889 and
5.13 gpt over 5.3m, in hole 27888 and significant results from below the level include : 5.24 gpt over
12.9m, in hole 27891; 3.45 gpt over 15.0m and 4.59 gpt over 25.0m in hole 27969; 2.73 gpt over
19.9m and 4.54 gpt over 18.4m in hole 27968; 3.06 gpt over 15.1m and 6.80gpt over 8.0m in hole
27894; 4.41 gpt over 13.4m in hole 27890 and 5.46 gpt over 12.5m and 4.43 gpt over 4.4m, in hole
27892 (Table 2 and Figure 3). Review of results indicates good correlation of mineralized zones and
grades within the new holes and previously drilled holes with local upsides in grade noted due to
unsampled core in older holes.
Drilling from the 1680 level includes 2 holes (720.5 m) to continue testing the lower part of the target
model which also obtained very favourable results including: 4.51 gpt over 9.0 m, in hole 27849 and;
4.30 gpt over 24.4m, including 5.73 gpt over 12.4m , in hole 27899. The intercept in hole 27899 is
located approximately 130 meters above the 1680 level and 40 meters up plunge of previously released
hole 27854 which intersected 5.82 gpt over 9.0m and 4.32 gpt over 19.0m, and the intercepts in hole
27849 are located 50 meters below the 1680 level and 30 meters east of hole 27855 which intersected
3.20 gpt over 6.7m, including 5.78 gpt over 2.5m and 15.60 gpt over 0.3m (see press release dated
April 23,2026).
Drilling at TVZ is ongoing with two drill rigs operating from the 1210 level and one drill on the 1410 level.
Current drilling on the 1210 level is primarily focused on infilling and extending mineralization proximal
to historic drill intercepts, while drilling from the 1410 level continues to test the projected down plunge
extension of the TVZ Zone.
Table 2: Intercepts from TVZ Project1,2,3
Level Hole ID Total Hole
Depth (m)
From To Core
length Au Notes
(m) (m) (m) (g/t)
1210L
27967 130.0
1.0 6.0 5.0 6.19 QV/qs/aspy
45.0 57.0 12.0 5.15 QV/qs/aspy
75.4 93.6 18.2 5.13 QV/qs/aspy
27970 127.1
47.0 55.1 8.1 3.62 QV/qs/aspy
77.4 94.3 16.9 7.04 QV/qs/aspy
incl
80.3 86.1 5.8 11.57 QV/qs/aspy
27971 130.6 19.0 37.2 18.2 1.75 QV/qs/aspy
7
50.0 52.7 2.7 4.51 QV/qs/aspy
73.0 94.0 21.0 5.17 QV/qs/aspy
27972 135.0
55.0 69.0 14.0 5.39 QV/qs/aspy
incl
55.6 61.0 5.4 11.61 QV/qs/aspy
75.8 99.0 23.2 5.73 QV/qs/aspy
incl
86.7 99.0 12.3 8.45 QV/qs/aspy
27973 130.7
19.0 22.5 3.5 5.24 QV/qs/aspy
28.9 32.7 3.8 3.73 QV/qs/aspy
102.1 109.6 7.5 9.01 QV/qs/aspy
27974 130.0 8.8 17.0 8.2 2.67 QV/qs/aspy
73.1 96.0 22.9 4.54 QV/qs/aspy
27975 127.0
23.0 34.6 11.6 2.75 QV/qs/aspy
86.5 110.8 24.3 4.24 QV/qs/aspy
incl
104.0 109.3 5.3 7.07 QV/qs/aspy
27976 150.0
18.7 31.0 12.3 2.69 QV/qs/aspy
105.5 136.0 30.5 5.65 QV/qs/aspy
incl
107.8 121.0 13.2 9.05 QV/qs/aspy
27977 170.0
0.0 6.5 6.5 3.16 QV/qs/aspy
14.6 22.9 8.3 3.35 QV/qs/aspy
112.0 126.0 14.0 4.40 QV/qs/aspy
incl
117.8 124.6 6.8 7.03 QV/qs/aspy
27888 342.0
101.7 105.3 3.6 5.13 QV/qs/aspy
168.5 170.6 2.1 3.29 QV/qs/aspy
229.9 233.5 3.6 3.35 QV/qs/aspy
27890 291.0
80.2 81.0 0.8 12.85 QV/qs/aspy
205.8 214.5 8.7 2.67 QV/qs/aspy
226.0 229.6 3.6 3.26 QV/qs/aspy
27891 361.7 37.0 37.6 0.6 9.62 qs/aspy
258.0 270.9 12.9 5.24 QV/qs/aspy
27892 330.0
41.0 42.0 1.0 7.21 qs/aspy
167.9 172.0 4.1 4.43 QV/qs/aspy
259.5 272.0 12.5 5.46 QV/qs/aspy
27893 400.0 319.2 322.7 3.5 2.17 QV/qs/aspy
27889 291.0
84.5 87.8 3.3 3.53 QV/qs/aspy
105.0 106.5 1.5 7.20 QV/qs/aspy
193.0 203.6 10.6 5.84 QV/qs/aspy
27969 150.0
2.0 4.5 2.5 5.44 QV/qs/aspy
42.0 57.0 15.0 3.45 QV/qs/aspy
8
incl
43.0 47.6 4.6 5.41 QV/qs/aspy
and
51.6 56.4 4.8 4.77 QV/qs/aspy
89.0 114.0 25.0 4.59 QV/qs/aspy
27968 150.0
3.3 23.2 19.9 2.73 QV/qs/aspy
incl
14.0 23.2 9.2 3.78 QV/qs/aspy
40.0 45.5 5.5 5.45 QV/qs/aspy
108.6 127.0 18.4 4.54 QV/qs/aspy
incl
112.5 121.5 9.0 7.54 QV/qs/aspy
27894 400.9
57.3 58.3 1.0 7.53 QV/qs/aspy
174.5 189.6 15.1 3.06 QV/qs/aspy
incl
183.0 186.0 3.0 7.55 QV/qs/aspy
281.0 286.0 5.0 3.52 QV/qs/aspy
328.0 336.0 8.0 6.80 QV/qs/aspy
27980 310.0
37.0 39.0 2.0 2.42 qs/aspy
204.2 208.0 3.8 3.21 QV/qs/aspy
217.5 230.9 13.4 4.41 incl 6.9m QV
1680L
27849 370.5 259.3 263.0 3.7 4.31 QV/qs/aspy
301.5 310.5 9.0 4.51 QV/qs/aspy
27899 350.0
259.0 261.4 2.4 4.58 QV/qs/aspy
321.0 345.4 24.4 4.30 QV/qs/aspy
incl
333.0 345.4 12.4 5.73
1. All assays are reported uncut.
2. Intervals are reported using core lengths as true widths are not known at this time.
3. Acronyms stand for: QV = Quartz Vein, VG = Visible Gold, qs = quartz stringers, aspy = arsenopyrite.