Discovery Announces the Submission of its Environmental Impact Assessment for its Cordero Project

TORONTO, Aug. 31, 2023 (GLOBE NEWSWIRE) -- Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF) (“Discovery” or the “Company”) is pleased to announce it has formally submitted for evaluation its Environmental Impact Assessment (Manifestacion de Impacto Ambiental or “MIA”) for its Cordeo silver project (“Cordero” or “the Project”) located in Chihuahua State, Mexico. The submission was made to Secretaría de Medio Ambiente y Recursos Naturales (“SEMARNAT”), the federal government agency responsible for evaluating MIA submissions. The MIA is one of the principal permits required for the development of Cordero and encapsulates extensive social and environmental work programs completed by the Company’s team in Mexico since 2020 in parallel with multiple reviews by third-party consultants.

Tony Makuch, CEO, states: “The submission of our MIA represents a major milestone for the Company. The submission is supported by comprehensive environmental and social baseline assessment work and outlines detailed plans for the responsible and sustainable development of the Cordero Project. The Project is expected to have significant positive direct and indirect socioeconomic impacts within Mexico at local, regional and national levels with an expected peak local workforce of over 1,000 employees, direct tax revenues of approximately US$1.2 billion and over US$4 billion of expected goods and services purchased locally within Mexico over its 18-year mine life as per our Preliminary Feasibility Study. We look forward to working with SEMARNAT through the permitting review process to demonstrate our full compliance with Mexican regulatory requirements alongside our overarching commitment to meet the highest industry standards for environmental protection, social responsibility and health and safety.”

CIMA Consultores Ambientales (“CIMA”), an experienced Mexico-based environmental permitting consultant, was the principal author of the MIA submission. The MIA incorporated environment and social evaluation baseline studies completed by CIMA and Vinfidem Consultants respectively, with data collected through the 2021 – 2022 period. A third-party review of the Company’s sustainability practices was also completed by Environmental Resources Management, Inc. (“ERM”), a global expert in environmental, health, safety, risk and social issues. Ausenco Engineering Canada Inc. (“Ausenco”), AGP Mining Consultants Inc., Knight Piésold Ltd., WSP Global Inc. and Blue Coast Research Ltd. also provided input in key technical areas.