Discovery Provides Update on 2022 ESG Initiative Including Receipt of Official ESR Distinction from The Canadian Business Journal

TORONTO, November 11, 2022 (GLOBE NEWSWIRE) — Discovery Silver Company (TSX-V: DSV, OTCQX: DSVSF) (“Discovery” or “Company”) is pleased to provide updates on various environmental, social and governance (“ESG”) initiatives. The company is also proud to announce the receipt of the official ESR Distinction issued by the Mexico Charitable Center for organizations that have demonstrated that they operate in a socially and environmentally responsible manner.

Interim CEO Tony Makuch said: “Significant progress in ESR Distinction, Great Place to Work certification, and other important milestones and voluntary initiatives reflect the Mexican team’s commitment to good work and environmental protection. An inclusive workplace with a positive impact on local communities and stakeholders, this proactive approach has enabled us to anticipate the development and potential transformation of Cordero into one of the world’s largest silver mines. It gives us a very strong platform.”

Empresa Socialmente Responsable (“ESR”) distinction: We have the official ESR Distinction from the Mexican Charitable Center (Centro Mexicano para la Filantropia) (“CEMEFI”). This distinction requires a company’s commitment to five pillars: business ethics, community involvement, environmental protection and conservation, employee quality of life, and corporate social responsibility. We achieved an “excellent” rating based on our scores across all indicators, ranking in the top 10% of the approximately 1,000 participating SMEs in Mexico.

Certification as a Great Place to Work: This certification recognizes companies that create a great employee experience by building a work culture of trust, trust, respect, pride and cooperation. All necessary investigations were recently completed and after this review the company was granted this certificate earlier this week.

clean industry certification: This certificate is issued by the Mexican government agency PROFEPA (Federal Public Prosecutor’s Office for Environmental Protection) and is awarded for full compliance with Mexican environmental regulations. This requires an audit of company policies and procedures regarding waste management, ecological footprint, water, emissions, soil, biodiversity, and other environmental compliance. The audit was completed by PROFEPA in the third quarter of this year. We expect to receive the results of our audit and possibly receive a Clean Industry Certification in the first quarter of 2023.

Secure Industry Certification (Level 1): This certificate must be in full compliance with more than 20 health and safety standards issued by the Mexican Government’s Secretary of Labor and outlined by the Mexican Federal Government. The audit required for this certification is expected to be completed by the end of the year. The company has set a goal of achieving Level 2 certification in 2023.

Training and Education:

• International Association for Sustainable Economy (“IASE”) Credential – The IASE Credential is a globally recognized three-tier credential that requires ESG professionals worldwide to adhere to the highest professional and ethical standards. Currently, nine employees, including Sustainability Managers, Country Managers and Chief Financial Officers, have completed Level 1 (Fundamentals), and CFOs and Sustainability Managers will complete Level 2 (Intermediate) and I am registered for the exam.
• SafeStart: The SafeStart training program is a global framework for promoting personal safety awareness in the workplace. All local employees have completed the first level of the training program and 12 employees have completed all five levels of his certification and are qualified to train, promote and regulate safety culture within the company. I have.

Community Initiatives: The closest town to Cordero is Hidalgo del Parral (“Parral”), located about 35 km southwest of the project, with a population of about 120,000. The company recently partnered with the Parral municipality with the aim of improving access to social services for vulnerable groups of local residents, especially in relation to medical assistance. Through this partnership, we donated mobile medical units to townships and helped build local clinics. Both services have the capacity to serve approximately 70,000 people annually. In addition, Parral employees have volunteered to participate in domestic violence safety programs and our local Parral offices have also been designated as shelters for victims of abuse.

For more information on the company’s current ESG practices and future priorities, please see our 2021 ESG Report, available for download at www.discoverysilver.com/sustainability. Additional information about the above certificates can be found at the following links:

ESR: https://www.cemefi.org/distintivo-esr-2/

Great place to work: https://greatplacetowork.com.mx/

Clean Industry: https://www.gob.mx/profepa/acciones-y-programas/programa-nacional-de-auditoria-ambiental-56432

Safe Industry: https://autogestionsst.stps.gob.mx/

IASE: https://www.iase-certifications.com/en/

Safestart: https://safestart.com/

About Discovery

Discovery’s flagship project is the 100% owned Cordero project, one of the world’s largest silver deposits. Completed in November 2021, the PEA demonstrates that Cordero has the potential to develop into a highly capital efficient mine offering a combination of margins, scale and scalability. Cordero is located near the extensive mining infrastructure in Chihuahua, Mexico. Continued exploration and project development at Cordero is supported by a strong balance sheet with approximately C$55 million in cash.

On behalf of the Board of Directors,
Tony Makuch, P.Eng
Interim CEO

For more information, please contact:

Forbes Gemmell, CFA
Vice President of Corporate Development
Phone: 416-613-9410
Email: [email protected]
Website: www.discoverysilver.com

Forward-Looking Statements:

Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.

This news release is not intended for distribution to US newswire services or for distribution within the United States.

This news release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall we sell securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. 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. The interests of a United States person (as defined in Regulation S under the 1933 Act), unless registered under the 1933 Act and applicable state securities laws, or unless an exemption from such registration requirements is available Or profit.

Cautionary Note Regarding Forward-Looking Statements

This news release may contain forward-looking statements that involve inherent risks and uncertainties. All statements in this news release, other than statements of historical fact, are considered forward-looking statements. Forward-looking statements include, but are not limited to, the future plans and objectives of Discovery in the areas of sustainable development, health and safety, the environment, community development, the Cordero Project, and prospects for further discoveries therein. Not limited. risk and uncertainty. Discovery believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, but such statements are not guarantees of future performance and may not represent actual results or Developments may differ materially from those set forth in the forward-looking statements. Factors that could cause actual results to differ materially from those set forth in the forward-looking statements include: volatility in market prices, including metal prices; the continued availability of capital and funding; and general economic, market or business conditions. There can be no assurance that such statements are accurate and readers are advised to rely on their own assessment of such uncertainties. Discovery does not undertake any obligation to update any forward-looking statements, except as required by applicable law.

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