Discovery Silver: Corporate Update

Tony Makuch, an independent director of the Company has been appointed Interim Chief Executive Officer, effective immediately. Mr. Makuch is a professional engineer with over 35 years of significant industry and leadership experience and is well positioned to advance the Company’s strategy through this period of transition with the support of the Board of Directors and the Company’s management team. Mr. Makuch was most recently Chief Executive Officer of Kirkland Lake Gold Ltd., a leading senior global gold company with operations in Ontario and Australia.

Mr. Gemmell has more than 15 years of mining industry experience across capital markets, exploration, project development and operations. This experience includes senior management roles focused on corporate strategy, acquisition and divestitures, investor relations, capital raising, feasibility studies and project optimization. Mr. Gemmell was most recently VP of Corporate Development at Guyana Goldfields Inc., a mid-tier gold producer with operations in Guyana. Mr. Gemmell oversaw the merger and acquisitions strategy for the company, managed and supervised the completion of multiple feasibility studies, and played a key role in overseeing several construction and development projects. Prior to this role, Mr. Gemmell was the CEO of Lago Dourado Minerals Ltd., a gold exploration company focused on Brazil. Mr. Gemmell also worked in the capital markets earlier in his career, both on the sell-side, as an equity research analyst covering the precious metals sector with Raymond James Ltd., and on the buy-side, as an equity analyst with Colonial First State in Sydney, Australia. Mr. Gemmell holds a Bachelor of Economics (Actuarial Studies) and is a CFA charterholder.

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