DISCOVERY PROVIDES UPDATE ON BUSINESS CONTINUITY PLANS IN RESPONSE TO COVID-19

TORONTO, March 19, 2020 (GLOBE NEWSWIRE) -- Discovery Metals Corp. (TSX-V: DSV, OTCQX: DSVMF) (“Discovery” or the “Company”) announces that it has begun implementing business continuity plans and procedures at its Mexican operations and corporate office in Toronto in response to developing concerns around COVID-19.

Taj Singh, President and CEO, states: “Ensuring the health and safety of our workforce is Discovery’s highest priority. There have not been any confirmed or suspected cases of COVID-19 at any of our operations however the Company has begun implementing various precautionary measures aimed at reducing the risk of COVID-19 impacting employees, their families, local communities and all stakeholders.”  

In response to ongoing concerns around COVID-19 Discovery has chosen to decelerate exploration activity at the Cordero Project (“Cordero”) to one drill rig in order to limit the number of employees at site. Additional health and safety protocols have also been implemented and the Company has also restricted international travel to site.

The Company is committed to remaining engaged with our local stakeholders during this uncertain period. The Company will continue to closely monitor the directives of all levels of government in both Mexico and Canada as well as the relevant health authorities and will take necessary action should the situation escalate.

Mr. Singh, further states: “Although slowing down our activities at Cordero has been a difficult decision for the Company to make, we believe it is a prudent measure that will ensure we retain our key employees and preserve our capital structure so that we can quickly ramp up activities when the current risks subside. In the meantime, we will continue to advance our target generation and resource modelling work through integrating the historical data with the excellent results collected from the 17,000m of drilling we have completed to date.”

The Company had a cash balance of C$24 million as at December 31, 2019.

About Discovery
Discovery Metals Corp. (TSX-V: DSV, OTCQX: DSVMF) is a Canadian exploration and development company headquartered in Toronto, Canada, and focused on historic mining districts in Mexico. Discovery’s flagship is its 100%-owned Cordero silver project in Chihuahua State, Mexico. The 35,000-hectare property covers a large district that hosts the announced resource as well as numerous exploration targets for bulk tonnage diatreme-hosted, porphyry-style, and carbonate replacement deposits. In addition, Discovery is also exploring multiple high-grade carbonate replacement-style silver-zinc-lead showings in a land package of approximately 150,000 hectares in Coahuila State, Mexico. The land holdings contain numerous historical direct-ship ore workings and significant underground development, but no drill-testing has ever been carried out on them.