Excellent Drill Results Confirm Growth Potential at Porcupine Hoyle Pond1 Hoyle Pond: Drilling expands high-grade mineralization at depth2
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Excellent Drill Results Confirm Growth Potential at Porcupine
Hoyle Pond1
Hoyle Pond: Drilling expands high-grade mineralization at depth2
• S Zone: 13.52 gpt over 9.1m3; 45.77 gpt over 4.1m, including 133.00 gpt over 0.6m; 5.69 gpt over 8.5m
TVZ: Drilling intersects additional wide high grades from the 1210 and 1680 levels4
• TVZ1: 72.46 gpt over 3.8m, including 770.00 gpt over 0.3m; 27.91 gpt over 0.9m; 6.14 gpt over 5.4m
• Main Zone ( TVZ2): 4.39 gpt over 9.2 m ; 4.23 gpt over 55.0m, including 5.39 gpt over 27.0m ; 4.32 gpt
over 19.0m, including 5.82 gpt over 9.0m ; 4.24 gpt over 10.2m ; 3.87gpt over 25.0m, including 6.41 gpt
over 11.0m; 3.42 gpt over 33.5m, including 5.18 gpt over 9.1m
• Splay Veins:4.36 gpt over 22.0m, including 13.33gpt over 4.44m; 6.13 gpt over 7.4m; 7.81 gpt over 4.1m
Owl Creek: Drilling expands deposit footprint and identifies wide high-grade core at Owl Creek;
Highlights potential at 750 Zone4
• Owl Creek: 4.11 gpt over 30.0m, including 9.04 gpt over 3.0m, and including 7.17 gpt over 3.0m, and
including 5.24 gpt over 10.1m, 4.13gpt over 13.8m including 7.5 3 gpt over 7.0m and; 2.38gpt over 35.5m
including 6.05gpt over 3.2m and 4.97gpt over 2.1m.
• 750 Zone: 5.76gpt over 4.5m and 2.57gpt over 8.9m
Borden1
Main Zone: Drilling extends mineralization down plunge and to the east of current resource2
• 18.85 gpt over 3.1m; 4.42 gpt over 16.6m, including 7.39 gpt over 6.3m; 10.04 gpt over 13.7m, including
21.01 gpt over 3.8m; 7.14 gpt over 12.3m; 5.54 gpt over 12.6m, including 12.12 gpt over 4.5m; 9.39 gpt
over 12.9m; 8.30 gpt over 10.2m; 6.51 gpt over 11.3m; 4.85 gpt over 14.2m; 5.30 gpt over 13.0m
East Lower Zone: Drilling highlights expansion potential on structure parallel to Main Zone2
• 6.87 gpt over 21 .0m, including 9.08 gpt over 9.1m ; 6.24 gpt over 15.7m, including 7.68 gpt over 7.9m ;
7.13 gpt over 10.9m, including 10.79 gpt over 5.8m; 5.35 gpt over 15.1m, including 8.60 gpt over 6.5m
Pamour1
Pamour: Drilling continues to confirm and expand current open pit resources4
• West Pit: 1.35 gpt over 65.7m; 1.35 gpt over 24.5m; 1.34 gpt over 56.1m; 1.29 gpt over 41.4m
• Central Pit: 1.15 gpt over 109m; 5.25 gpt over 19.7m; 2.29 gpt over 45.3m; 1.36 gpt over 54.1m
• East Pit: 1.94 gpt over 28.5m; 4.54 gpt over 12.6m; 2.95 gpt over 12.6m; 1.66 gpt over 31.1m
Pamour West: Continued positive results to west of current Pamour resource4
• 2.14 gpt over 18.3m ; 6.84 gpt over 7.5m ; 1.84 gpt over 6.0m ; 1.77 gpt over 5.9m; 5.67 gpt over 3.2m;
3.01 gpt over 3.8m; 9.35 gpt over 3.7m and 2.49 gpt over 7.7m
North Contact Zone: Drilling identifies new mineralization north of phase 2 pit4
• 2.52 gpt over 20.0m; 0.78 gpt over 35.5m; 24.11 gpt over 8.0m, including 596.0 gpt over 0.3m; 1.45 gpt
over 23.1m; 1.70 gpt over 23.9m, including 20.70m over 1.0m
Dome1
Continued drilling success to northeast and southwest; Resource update on track for late 20264
• 1.19 gpt over 35.2m; 3.16 gpt over 15.0m; 1.19 gpt over 28.9m; 1.13 gpt over 29.7m; 1.01 gpt over
20.0m; 2.77 gpt over 10.9m and; 1.21 gpt over 11.3m; 0.60 gpt over 8.2m and , 3.11gpt over 3.5m
1. All assays are reported uncut.
2. Intervals are reported using both true widths and core lengths.
3. In this news release, “gpt” refers to grams per tonne, and “m” refer to metres.
4. Intervals are reported using core lengths only as true widths are not known at this time.
NEWS RELEASE
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April 23, 2026, Toronto, Ontario – Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF)
(“Discovery” or the “ Company”) today reported results from ongoing exploration at the Company’s
Porcupine Operations, including Hoyle Pond Mine, Borden Mine and Pamour Mine, as well as at the
Dome and TVZ advanced stage growth projects and regional exploration targets. The results include
assays from a combined total of 143 holes1 (44,740 m), completed between Q4 2025 and Q1 2026.
Tony Makuch, Discovery’s CEO, commented: “ We continue to get excellent results from our ongoing
aggressive exploration program at Porcupine. Today’s results include additional success with resource
conversion and extension drilling at Hoyle Pond, Borden and Pamour , encouraging results at new
targets at or near these operations, and favourable results at our near-term growth projects and key
regional targets. At Hoyle Pond, we continued to extend the S Zone to depth, recorded the highest -
grade intersection to date at TVZ, and continued to demonstrate TVZ’s attractive depth potential, and
also had very encouraging results from the Owl Creek and 750 Zone regional targets located along the
Hoyle Pond belt.
“Turning to Borden, we extended mineralization down plunge and to the east in the Main Zone and also
recorded encouraging results from the East Lower Zone, a parallel structure to the main mining trend.
These latest results, along with wide-spaced surface drilling, provide us with a high level of confidence
in the potential for significant resource growth as drilling continues.
“At Pamour, we achieve excellent results from ongoing resource conversion and expansion drilling
along the three phases of the current pit design. We also generat ed positive results from drilling at
Pamour West, highlighting the potential for new resources west of the current Pamour operations. In
addition, we were particularly encouraged by drill results from a large, untested gap in previous drilling
at the North Contact Zone, located along a major east – west trending volcanic sedimentary contact
directly north of the phase 2 pit.
“Finally, we reported additional positive results from confirmation and extension drilling at Dome in the
southwest and northeast portions of the property. Dome is a key potential value generator for Discovery,
with an 11.0 million ounce inferred resource, an existing open pit and the Dome Mill located directly
adjacent to the pit. Drilling in the northeast part demonstrated a close correlation of geology, with new
drilling including similar or better grades and widths compared to historic holes. Drilling in the southwest
portion of the property identified new areas of mineralization at shallow depths from surface. With the
success we are having, and the additional drilling that is planned, we remain on track to release an
updated mineral resource at Dome late this year.”
Hoyle Pond Mine
Drilling at the Hoyle Pond Mine included a total of eight holes (2,814.0 m) to test the Lower S Zone. Of
the holes drilled, three holes (237 m) were abandoned due to drilling challenges or excessive deviation
from the target.
The Hoyle Pond Mine is located approximately 20 km northeast of Timmins and is situated in the east
portion of the Hoyle Pond volcanic belt adjacent to a major northeast trending flexure and the 1060
fault. Mineralization at the mine occurs in multiple zones of quartz veining between surface and a depth
of 2,000 m along the trend of the main flexure. The S Zone, which is the main focus of the current drill
program, lies in the lower east portion of the mine, just east of the 1060 fault (Figure 1).
The new drilling was designed to test the lower limits of the zone below the 2,200 level and continued
to demonstrate very positive results including: 13.52 gpt over 9.1m in hole 27700AM; 45.77 gpt over
4.1m, including 133.00 gpt over 0.6m in hole 27713B; 5.69 gpt over 8.5m, including 20.40 gpt over
0.5m and including 45.70 gpt over 0.5m in hole 27 712; and 16.70 gpt over 0.6m in hole 27677M
(Figure 2).
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The program is continuing at the mine with five drills including two at the Lower S Zone, two at the XMS
Zone and one at the NMV/UM4 zones. Work is also ongoing to prepare several new locations in the
mid-mine area for drilling which will start later in the second quarter of 2026.
Table 1: Intercepts from Hoyle Pond Underground Mine1,2,3
ZONE Hole ID
Total
Hole
Depth
(m)
From To Core
length
Estimated
True
Width
Au
Notes
(m) (m) (m) (m) (g/t)
Hoyle
Pond S
veins
27700AM 540.0 478.0 487.7 9.7 9.1 13.52
27713B 570.0
489.0 493.2 4.2 4.1 45.77
incl
492.0 492.6 0.6 0.6 133.00 Visible Gold
27712 534.0
465.0 474.0 9.0 8.5 5.69
incl
465.0 465.5 0.5 0.5 20.40
incl
465.5 466.0 0.5 0.5 45.70 Visible Gold
27677M 471.0 465.8 466.5 0.7 0.6 16.70
1. All assays are reported uncut.
2. Intervals are reported using both true widths and core lengths.
3. Holes 27679A is not included in the table above as it had low grade values.
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Figure 1. Hoyle Pond Mine Area
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Figure 2. Hoyle Pond – S Zone Lower
TVZ Project
Drilling at the TVZ Project included a total of 17 holes (5,803 m) 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 (Figure 3).
Geologically, TVZ lies in the Porcupine sediments south of the Hoyle Pond volcanic belt, just east of
the 1060 fault. Gold mineralization is closely associated with a northeast trending, steeply dipping shear
zone (TVZ2 Zone) with local splay veins, which plunge s moderately to the northeast. The bulk of the
mineralization identified to date occurs within a panel measuring approximately 600 m long by 200 m
in height, extending from the 850 level to just below the 1410 level, with the best grades typically having
a strong correlation with increased amounts of quartz veining, pyrite and arsenopyrite.
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
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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.
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 included eight holes (2,595 m) which were drilled across the main zones in
a southeasterly direction to evaluate the upper portion of the target model. Results of the program were
very positive (Figure 4) and included multiple significant assays from the TVZ1 and TVZ2 zones, which
mark the north and south limits of the zone, as well as from splay veins located in the area between.
Significant intercepts from the TVZ1 include: 72.46 gpt over 1.7m, including 770.00 gpt over 0.2m in
hole 27886; 6.14 gpt over 2.8m in hole 27887; 27.91 gpt over 0.9m in hole 27885; and 6.39 gpt over
1.2m in hole 27884. All four holes were drilled into an untested gap just above the 1210 level. The new
intercept from h ole 27886 is from the centre of the untested gap and is the highest-grade intercept
obtained from this zone to date. Hole 27885 tested 50 m below hole 27886, hole 27887 tested 60 m to
the southwest and, hole 27884 tested 50 m to the northeast.
Significant intercepts from the TVZ2 include: 4.39 gpt over 9.2 m in hole 27881; 4.23 gpt over 55.0m,
including 10.83 gpt over 4.0m, and including 5.39 gpt over 27.0m in hole 27883; 3.27 gpt over 13.8m,
including 5.24 gpt over 5.0m and 3.18 gpt over 9.0m in hole 27886; 3.87 gpt over 25.0m, including
6.41 gpt over 11.0m in hole 27966 ; and 3.42 gpt over 33.5m , including 4.40 gpt over 8.1m and
including 5.18 gpt over 9.1m in hole 27965. Holes 27881 and 27886 targeted the east-central portion
of the zone below the 1210 level and 35 m above the previously reported result of 3.90 gpt over 7.5m
from hole 27882 (see press release dated February 10, 2026). Hole 27883 targeted the zone 85 m to
the northeast of 27882 and holes 27965 and 27966 targeted approximately 170 m to the southwest.
Among significant intercepts from the splay veins were 4.36 gpt over 22.0m, including 13.33gpt over
4.4m in hole 27881; 8.38 gpt over 1.8m and 4.48 gpt over 11.6m, including 6.13 gpt over 7.4m, in
hole 27965; and 3.57 gpt over 14.0m, including 7.81 gpt over 4.1m and 4.17 gpt over 11.5m, in hole
27966. The new intercept in hole 27881 lies 25 m directly above the previously reported result of 4.0
gpt over 30.1 m from hole 27982 (see press release dated February, 10 2026) and the intercepts in
holes 27965 and 27966 are located approximately 80 m to the west.
Drilling on the 1680 level included nine new holes ( 3,208 m) which were drilled in a southeasterly
direction to test near the lower limits of previous drilling on the TVZ2. Significant results include: 4.32
gpt over 19.0m, including 5.82 gpt over 9.0m and 5.60 gpt over 3.5m, in hole 27854; 4.24 gpt over
10.2m in hole 27856 ; and 3.80gpt over 10.2m , including 4.73 gpt over 6.0m in hole 27852, which
intersected the TVZ2 vein near the 1600 level between previously reported values of 6.29 gpt over 5.3m
and 4.98 gpt over 4.0m in holes 21094 and 21009 (see press release dated February 10, 2026).
Drilling at TVZ is ongoing with two drills operating on the 1210 level and one drill on the 1 410 level.
Drilling on the 1210 level is primarily focused on infilling and extending mineralization proximal to historic
drilling, while drilling on the 1410 level continues to test the projected down plunge extension of the
TVZ Zone.
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Table 2: Intercepts from TVZ Project1,2
Hole ID Total Hole
Depth Platform
From To Core
length Au
Notes3
(m) (m) (m) (g/t)
27855 336.0 1680L
127.7 128.0 0.3 15.60 QV/VG
177.4 184.1 6.7 3.20 QV/qs/aspy
incl
177.4 179.9 2.5 5.78
283.1 288.8 5.7 1.66 qs/aspy/VG
27850 384.0 1680L
172.8 173.1 0.3 11.50 QV/aspy
189.1 190.4 1.3 5.70 QV/qs/aspy
303.0 310.0 7.0 2.78 qs/aspy
343.5 344.9 1.4 4.30 qs/aspy
353.5 355.3 1.8 3.07 qs/aspy
27853 351.0 1680L
154.0 156.5 2.5 2.22 QV/qs/aspy
164.0 166.0 2.0 2.23 qs/aspy
296.5 301.0 4.5 1.61 qs/aspy
326.8 328.5 1.7 14.71 QV/qs/VG
27857 381.0 1680L
327.2 327.5 0.3 12.70 QV/VG/aspy
352.0 352.3 0.3 9.52 QV/aspy
361.5 361.8 0.3 9.99 QV/aspy
27851 390.0 1680L 218.0 221.0 3.0 3.06 qs/aspy
315.7 318.4 2.7 4.27 QV/qs/aspy
27852 340.0 1680L
160.9 162.8 1.9 4.26 qs/aspy
283.0 293.2 10.2 3.80 qs/aspy
incl
284.5 290.5 6.0 4.73 qs/aspy
27854 325.0 1680L
164.2 164.7 0.5 22.50 QV/aspy
250.8 253.0 2.2 4.78 QV/qs/aspy
288.0 307.0 19.0 4.32 QV/qs/aspy
incl
290.1 293.6 3.5 5.60 QV/qs/aspy
and
296.5 305.5 9.0 5.82 QV/qs/aspy
27856 330.0 1680L
149.2 151.6 2.4 3.60 QV/qs/aspy
158.2 160.1 1.9 5.77 qs/aspy
280.6 290.8 10.2 4.24 QV/qs/aspy
303.7 306.6 2.9 3.05 QV/qs/aspy
27847 370.6 1680L 200 200.3 0.3 38.30 QV/VG/aspy
303.5 312.0 8.5 2.24 qs/aspy
27883 410.0 1210L
71.4 71.8 0.4 17.30 qs/aspy
133.0 135.0 2.0 3.37 QV/qs/aspy
8
162.0 164.4 2.4 4.52 QV/qs/aspy
174.1 178.7 4.6 1.13 qs/aspy
196.1 197.7 1.6 2.75 qs/aspy
210.0 213.0 3.0 4.39 QV/qs/aspy
220.1 222.6 2.5 5.69 QV/qs/aspy
341.0 396.0 55.0 4.23 QV/qs/aspy
incl
341.0 345.0 4.0 10.83 QV/qs/aspy
and
355.0 358.5 3.5 5.06 QV/qs/aspy
and
369.0 396.0 27.0 5.39 QV/qs/aspy
incl
382.0 394.0 12.0 7.44 QV/qs/aspy
27881 345.0 1210L
51.7 52.0 0.3 1.76 QV/aspy
124.5 130.0 5.5 4.17 qs/aspy
139.0 140.1 1.1 6.92 qs/aspy
143.6 148.0 4.4 2.70 QV/qs/aspy
153.6 175.6 22.0 4.36 QV/qs/VG
incl
171.2 175.6 4.4 13.33 QV/qs/VG
incl
173.7 175.0 1.3 39.59 QV/qs/VG
260.3 264.7 4.4 3.13 qs/aspy
298.0 307.2 9.2 4.39 QV/qs/aspy
323.8 327.0 3.2 2.48 qs/aspy
334.4 338.8 4.4 2.11 qs/aspy
27885 360.0 1210L
113.4 114.3 0.9 27.91 QV/VG/aspy
251.7 258.5 6.8 6.77 QV/qs/VG
268.0 270.6 2.6 3.46 QV/qs/aspy
27886 332.0 1210L
72.5 74.1 1.6 5.39 QV/qs/aspy
146.5 150.3 3.8 72.46 QV/qs/VG
incl
149.5 149.8 0.3 770.00 QV/VG
247.2 261.0 13.8 3.27 QV/qs/aspy
incl
247.2 251.0 3.8 4.13 QV/qs/aspy
and
256.0 261.0 5.0 5.24 QV/qs/aspy
272.3 281.3 9.0 3.18 QV/qs/aspy
incl
272.3 275.5 3.2 5.50 QV/qs/aspy
27887 335.4 1210L 109.1 112.8 3.7 5.63 QV/qs/aspy