Discovery Shareholders Overwhelmingly Approve Share Issuance Resolution
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NEWS RELEASE
Discovery Shareholders Overwhelmingly Approve Share
Issuance Resolution
March 27, 2025, Toronto, Ontario – Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF)
(“Discovery” or the “ Company”) is pleased to announce that shareholders of Discovery
(“Shareholders”) overwhelmingly approved the issuance of shares (the “ Share Issuance
Resolution”) relating to the previously announced acquisition of Newmont Corporation’s
Porcupine Complex (the "Acquisition") at the special meeting (the “ Meeting”) of Shareholders
held earlier today.
A total of 221,843,126 common shares of Discovery were represented at the Meeting, in person
or by proxy, representing approximately 55.40% of the total number of shares issued and
outstanding as of the record date for the Meeting.
The Share Issuance Resolution was overwhelmingly approved at the Meeting by 99.85% of the
votes cast by Shareholders voting in person or represented by proxy at the Meeting.
To be effective, the Share Issuance Resolution required the affirmative vote of a majority of the
votes cast by the Shareholders, present or represented by proxy at the Meeting. Accordingly, the
Shareholder approval has been obtained to proceed with the issuance of all consideration shares
for the Acquisition as further described in the management information circular of Discovery dated
February 24, 2025 (the "Circular").
The Acquisition is expected to close in the first half of 2025 , subject to, among other things, the
completion of a pre -closing reorganization by affiliates of Newmont Corporation (with the
reorganization being subject to certain approvals, including the consent of Ontario's Ministry of
Mines), receipt of all required regulatory approvals and the satisfaction or waiver of certain other
customary closing conditions.
Additional details of the voting results will be included in a report of voting results to be filed on
SEDAR+ ( www.sedarplus.ca) under Discovery's issuer profile. Additional details about the
Acquisition and the Share Issuance Resolution can be found in the Circular, a copy of which is
available on SEDAR+ (www.sedarplus.ca) under Discovery's issuer profile and on the Company’s
website at www.discoverysilver.com.
ABOUT DISCOVERY
Discovery is a growing North American precious metals company. The Company has exposure
to silver through 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 January 27, 2025, Discovery announced an agreement to acquire
a 100% interest in the Porcupine Complex from Newmont Corporation. The addition of the
Porcupine Complex will transform the Company into a new Canadian gold producer with multiple
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operations in one of the world’s most renowned gold camps in and near Timmins, Ontario, with a
large base of Mineral Resources remaining and substantial growth and exploration upside. The
Acquisition is expected to close in the first half of 2025.
On Behalf of the Board of Directors,
Tony Makuch, P.Eng
President, CEO & Director
For further information contact:
Mark Utting, CFA
VP Investor Relations
Phone: 416-806-6298
Email: [email protected]
Website: www.discoverysilver.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward -looking information" within the meaning of applicable Canadian securities legislation. All
information, other than statements of historical facts, included in this press release that address activities, events or dev elopments
that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive
strengths, goals, expansion and growth of the Company's businesses, operations, plans and other such matters are forward-looking
information.
When used in this press release, the words "estimate", "plan", "continue", "anticipate", "might", "expect", "project", "inten d", "may",
"will", "shall", "should", "could", "would", "predict", "predict", "forecast", "pursue", "potential", "believe" and simi lar expressions are
intended to identify forward-looking information. This information involves known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of the Company to be materially differe nt from any future results
or performance expressed or implied by such forward-looking information.
Examples of such forward -looking information include information pertaining to, without limitation, statements with respect to: the
anticipated timing and closing of the Acquisition; the receipt of all required regulatory approvals and satisfaction of all closing
conditions; and other events or conditions that may occur in the future. Factors that could cause actual results to vary materially from
results anticipated by such forward -looking statements include, among others: the ability to satisfy of all con ditions to closing the
Acquisition, including receipt of all required third-party approvals, on the timeframe contemplated; and those factors included herein
and elsewhere in the Company's public disclosure.
Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be
other factors that cause results not to be as anticipated, estimated, or intended. See the sections entitled "Risk Factors" in the Circular
and in Schedule "B" to the Circular, and in the section entitled "Risk Factors" in the Company's annual information form date d as of
March 28, 2024 for the financial year ended December 31, 2023, for additional risk factors that could cause results to differ materially
from forward-looking statements.
There can be no assurance that such information will prove to be accurate as actual developments or events could cause result s to
differ materially from those anticipated. These include, among others, the factors described or referred to elsewhere herein and include
unanticipated and/or unusual events. Many of such factors are beyond the Company's ability to predict or control.
The forward-looking information included in this press release is expressly qualified by the foregoing cautionary statements. Readers
of this press release are cautioned not to put undue reliance on forward -looking information due to its inherent uncertainty. The
Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future
events or results or otherwise, unless required under applicable laws. This forward -looking information should not be relied upon as
representing management's views as of any date subsequent to the date of this press release.