Discovery Silver Corp. (TSX: DSV) (OTCQX: DSVSF) announced that the Company’s Porcupine operations produced 66,718 ounces of gold in the fourth quarter of 2025, bringing total gold production from closing of the acquisition of Porcupine on April 15, 2025 to the end of the year to 180,424 ounces. Including gold production in 2025 prior to the closing of the Acquisition, the Porcupine operations produced a total of 234,702 ounces for full-year 2025. All dollar amounts are in US dollars, unless otherwise noted.

Q4 2025 Key Highlights

• Gold production: 66,718 ounces
• Gold poured: 67,010 ounces
• Gold sold: 64,479 ounces
• Average realized gold price of $4,157 per ounce sold¹
• Excellent exploration results released from resource conversion and expansion drilling at all operations, and from district drilling at Owl Creek²
• Completed a Resource Development Agreement with Taykwa Tagamou Nation (“TTN”) intended to establish a cooperative, mutually beneficial relationship between the parties and provide a basis for support of Discovery’s operating activities within TTN’s traditional territory³
• Cash at December 31, 2025, totaled approximately $410 million
• Closed previously announced agreement with a syndicate of Canadian financial institutions for a $250 million revolving credit facility, with a $100 million accordion feature.⁴

Tony Makuch, Discovery’s President and CEO, commented: “2025 was a transformational year for Discovery. We started the year as a development company advancing Cordero, one of the world’s largest and most attractive silver projects. In April, we established Discovery as a growing Canadian gold producer through the acquisition of Newmont’s Porcupine operations in and near Timmins, Ontario. These operations include the Hoyle Pond and Borden underground mines, the Pamour open-pit mine that is currently ramping up to commercial levels of operation, three key growth projects and outstanding exploration upside. Through our portfolio of assets, Discovery ended 2025 as a company with among the best growth stories in both the gold and silver sectors.

“Looking at Q4 2025, we had a strong finish to the year, increasing production 6% from the previous quarter. Production growth resulted primarily from improved grades at Hoyle Pond and higher tonnes processed from Pamour. Also, during the quarter we released excellent exploration results at all of our operations, including multiple high-grade intersections from resource conversion and extension drilling at Hoyle Pond and Borden, favourable drill results within and along strike of current resources at Pamour, and encouraging results from district exploration drilling at Owl Creek. We ended the year with 19 drills turning and expect additional exploration results to be released over the next few weeks.

“Turning to 2026, we are targeting continued strong operating performance and additional progress with our growth plans. We will be issuing our guidance for the year with our full Q4 2025 operating and financial results in February. Supporting our business is a strong balance sheet, including approximately $410 million in cash and no debt. We also have additional liquidity through the $250 million RCF, which remains undrawn, and the potential for another $100 million of credit through an accordion feature on the RCF.”

ABOUT DISCOVERY

Discovery is a growing precious metals company that is creating value for stakeholders through exposure to both gold and silver. The Company’s silver exposure comes from 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 April 15, 2025, Discovery completed the acquisition of the Porcupine Complex, transforming the Company into a new Canadian gold producer with multiple operations in one of the world’s most renowned gold camps in and near Timmins, Ontario. Discovery owns a dominant land position within the camp, with a large base of Mineral Resources remaining and substantial growth and exploration upside.