DSV.TO · 2026-04-23

Excellent Drill Results Confirm Growth Potential at Porcupine

Drill Results Exploration Programs

NEWS RELEASE

Excellent Drill Results Confirm Growth Potential at Porcupine

Hoyle Pond¹ Hoyle Pond: Drilling expands high-grade mineralization at depth²

S Zone: 13.52 gpt over 9.1m³; 45.77 gpt over 4.1m, including 133.00 gpt over 0.6m; 5.69 gpt over 8.5m

TVZ: Drilling intersects additional wide high grades from the 1210 and 1680 levels⁴

TVZ1: 72.46 gpt over 3.8m, including 770.00 gpt over 0.3m; 27.91 gpt over 0.9m; 6.14 gpt over 5.4m
Main Zone (TVZ2): 4.39 gpt over 9.2 m; 4.23 gpt over 55.0m, including 5.39 gpt over 27.0m; 4.32 gpt over 19.0m, including 5.82 gpt over 9.0m; 4.24 gpt over 10.2m; 3.87gpt over 25.0m, including 6.41 gpt over 11.0m; 3.42 gpt over 33.5m, including 5.18 gpt over 9.1m
Splay Veins:4.36 gpt over 22.0m, including 13.33gpt over 4.44m; 6.13 gpt over 7.4m; 7.81 gpt over 4.1m

Owl Creek: Drilling expands deposit footprint and identifies wide high-grade core at Owl Creek;

Highlights potential at 750 Zone⁴

Owl Creek: 4.11 gpt over 30.0m, including 9.04 gpt over 3.0m, and including 7.17 gpt over 3.0m, and including 5.24 gpt over 10.1m, 4.13gpt over 13.8m including 7.53 gpt over 7.0m and; 2.38gpt over 35.5m including 6.05gpt over 3.2m and 4.97gpt over 2.1m.
750 Zone: 5.76gpt over 4.5m and 2.57gpt over 8.9m

Borden¹ Main Zone: Drilling extends mineralization down plunge and to the east of current resource²

18.85 gpt over 3.1m; 4.42 gpt over 16.6m, including 7.39 gpt over 6.3m; 10.04 gpt over 13.7m, including 21.01 gpt over 3.8m; 7.14 gpt over 12.3m; 5.54 gpt over 12.6m, including 12.12 gpt over 4.5m; 9.39 gpt over 12.9m; 8.30 gpt over 10.2m; 6.51 gpt over 11.3m; 4.85 gpt over 14.2m; 5.30 gpt over 13.0m

East Lower Zone: Drilling highlights expansion potential on structure parallel to Main Zone²

6.87 gpt over 21.0m, including 9.08 gpt over 9.1m; 6.24 gpt over 15.7m, including 7.68 gpt over 7.9m; 7.13 gpt over 10.9m, including 10.79 gpt over 5.8m; 5.35 gpt over 15.1m, including 8.60 gpt over 6.5m

Pamour¹ Pamour: Drilling continues to confirm and expand current open pit resources⁴

West Pit: 1.35 gpt over 65.7m; 1.35 gpt over 24.5m; 1.34 gpt over 56.1m; 1.29 gpt over 41.4m
Central Pit: 1.15 gpt over 109m; 5.25 gpt over 19.7m; 2.29 gpt over 45.3m; 1.36 gpt over 54.1m
East Pit: 1.94 gpt over 28.5m; 4.54 gpt over 12.6m; 2.95 gpt over 12.6m; 1.66 gpt over 31.1m

Pamour West: Continued positive results to west of current Pamour resource⁴

2.14 gpt over 18.3m ; 6.84 gpt over 7.5m; 1.84 gpt over 6.0m; 1.77 gpt over 5.9m; 5.67 gpt over 3.2m; 3.01 gpt over 3.8m; 9.35 gpt over 3.7m and 2.49 gpt over 7.7m

North Contact Zone: Drilling identifies new mineralization north of phase 2 pit⁴

2.52 gpt over 20.0m; 0.78 gpt over 35.5m; 24.11 gpt over 8.0m, including 596.0 gpt over 0.3m; 1.45 gpt over 23.1m; 1.70 gpt over 23.9m, including 20.70m over 1.0m

Dome¹ Continued drilling success to northeast and southwest; Resource update on track for late 2026⁴

1.19 gpt over 35.2m; 3.16 gpt over 15.0m; 1.19 gpt over 28.9m; 1.13 gpt over 29.7m; 1.01 gpt over 20.0m; 2.77 gpt over 10.9m and; 1.21 gpt over 11.3m; 0.60 gpt over 8.2m and , 3.11gpt over 3.5m

1. All assays are reported uncut.

2. Intervals are reported using both true widths and core lengths.

3. In this news release, “gpt” refers to grams per tonne, and “m” refer to metres.

4. Intervals are reported using core lengths only as true widths are not known at this time.

April 23, 2026, Toronto, Ontario – Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF) (“Discovery” or the “Company”) today reported results from ongoing exploration at the Company’s Porcupine Operations, including Hoyle Pond Mine, Borden Mine and Pamour Mine, as well as at the Dome and TVZ advanced stage growth projects and regional exploration targets. The results include assays from a combined total of 143 holes1 (44,740 m), completed between Q4 2025 and Q1 2026.

Tony Makuch, Discovery’s CEO, commented: “We continue to get excellent results from our ongoing aggressive exploration program at Porcupine. Today’s results include additional success with resource conversion and extension drilling at Hoyle Pond, Borden and Pamour, encouraging results at new targets at or near these operations, and favourable results at our near-term growth projects and key regional targets. At Hoyle Pond, we continued to extend the S Zone to depth, recorded the highest- grade intersection to date at TVZ, and continued to demonstrate TVZ’s attractive depth potential, and also had very encouraging results from the Owl Creek and 750 Zone regional targets located along the Hoyle Pond belt.

“Turning to Borden, we extended mineralization down plunge and to the east in the Main Zone and also recorded encouraging results from the East Lower Zone, a parallel structure to the main mining trend. These latest results, along with wide-spaced surface drilling, provide us with a high level of confidence in the potential for significant resource growth as drilling continues.

“At Pamour, we achieve excellent results from ongoing resource conversion and expansion drilling along the three phases of the current pit design. We also generated positive results from drilling at Pamour West, highlighting the potential for new resources west of the current Pamour operations. In addition, we were particularly encouraged by drill results from a large, untested gap in previous drilling at the North Contact Zone, located along a major east – west trending volcanic sedimentary contact directly north of the phase 2 pit.

“Finally, we reported additional positive results from confirmation and extension drilling at Dome in the southwest and northeast portions of the property. Dome is a key potential value generator for Discovery, with an 11.0 million ounce inferred resource, an existing open pit and the Dome Mill located directly adjacent to the pit. Drilling in the northeast part demonstrated a close correlation of geology, with new drilling including similar or better grades and widths compared to historic holes. Drilling in the southwest portion of the property identified new areas of mineralization at shallow depths from surface. With the success we are having, and the additional drilling that is planned, we remain on track to release an updated mineral resource at Dome late this year.”

Hoyle Pond Mine

Drilling at the Hoyle Pond Mine included a total of eight holes (2,814.0 m) to test the Lower S Zone. Of the holes drilled, three holes (237 m) were abandoned due to drilling challenges or excessive deviation from the target.

The Hoyle Pond Mine is located approximately 20 km northeast of Timmins and is situated in the east portion of the Hoyle Pond volcanic belt adjacent to a major northeast trending flexure and the 1060 fault. Mineralization at the mine occurs in multiple zones of quartz veining between surface and a depth of 2,000 m along the trend of the main flexure. The S Zone, which is the main focus of the current drill program, lies in the lower east portion of the mine, just east of the 1060 fault (Figure 1).

The new drilling was designed to test the lower limits of the zone below the 2,200 level and continued to demonstrate very positive results including: 13.52 gpt over 9.1m in hole 27700AM; 45.77 gpt over 4.1m, including 133.00 gpt over 0.6m in hole 27713B; 5.69 gpt over 8.5m, including 20.40 gpt over 0.5m and including 45.70 gpt over 0.5m in hole 27712; and 16.70 gpt over 0.6m in hole 27677M

(Figure 2).

The program is continuing at the mine with five drills including two at the Lower S Zone, two at the XMS Zone and one at the NMV/UM4 zones. Work is also ongoing to prepare several new locations in the mid-mine area for drilling which will start later in the second quarter of 2026.

Table 1: Intercepts from Hoyle Pond Underground Mine1,2,3

ZONE	Hole ID	Total Hole Depth (m)	From	To	Core length		Estimated	Au	Notes
							True
							Width
			(m)	(m)	(m)	(m)		(g/t)
Hoyle Pond S veins	27700AM	540.0	478.0	487.7	9.7	9.1		13.52
	27713B	570.0	489.0	493.2	4.2	4.1		45.77
			incl
			492.0	492.6	0.6	0.6		133.00	Visible Gold
	27712	534.0	465.0	474.0	9.0	8.5		5.69
			incl
			465.0	465.5	0.5	0.5		20.40
			incl
			465.5	466.0	0.5	0.5		45.70	Visible Gold
	27677M	471.0	465.8	466.5	0.7	0.6		16.70

1. All assays are reported uncut.

2. Intervals are reported using both true widths and core lengths.

3. Holes 27679A is not included in the table above as it had low grade values.

Figure 1. Hoyle Pond Mine Area

Figure 2. Hoyle Pond – S Zone Lower

TVZ Project

Drilling at the TVZ Project included a total of 17 holes (5,803 m) from the 1210 level and 1680 level exploration drifts to confirm and expand the TVZ Zone.

TVZ is a significant zone of gold mineralization located between the 800 and 1800 m levels in the southeast portion of the Hoyle Pond Mine (Figure 3).

Geologically, TVZ lies in the Porcupine sediments south of the Hoyle Pond volcanic belt, just east of the 1060 fault. Gold mineralization is closely associated with a northeast trending, steeply dipping shear zone (TVZ2 Zone) with local splay veins, which plunges moderately to the northeast. The bulk of the mineralization identified to date occurs within a panel measuring approximately 600 m long by 200 m in height, extending from the 850 level to just below the 1410 level, with the best grades typically having a strong correlation with increased amounts of quartz veining, pyrite and arsenopyrite.

Past work at the project includes 437 holes (172,319 m) of wide-spaced drilling from three main platforms on the 900, 1210 and 1410 levels, as well as limited development, mapping, chip sampling and metallurgical test work on the 1210 level. Results from the drilling, mapping and chip sampling have been positive and indicate multiple holes with grades exceeding 5.00 gpt over widths of 5 to 10 m. The results also indicate positive results from the two deepest holes to test the zone to date, holes 21009 and 21094, with returned values of 6.29 gpt over 5.3 m and 4.98 gpt over 4.0 m, respectively, between the 1550 and 1610 levels. As a result, the potential to extend the zone to greater depths is considered excellent.

Results of the past metallurgical work indicate a strong correlation of gold with arsenopyrite and variable recoveries, but with the potential for improvement using enhanced processing.

The current work program is designed to infill and expand the TVZ Zone, with drilling ongoing from the historic drill platforms, in preparation for an initial NI 43-101 mineral resource in late 2026.

Drilling from the 1210 level included eight holes (2,595 m) which were drilled across the main zones in a southeasterly direction to evaluate the upper portion of the target model. Results of the program were very positive (Figure 4) and included multiple significant assays from the TVZ1 and TVZ2 zones, which mark the north and south limits of the zone, as well as from splay veins located in the area between.

Significant intercepts from the TVZ1 include: 72.46 gpt over 1.7m, including 770.00 gpt over 0.2m in hole 27886; 6.14 gpt over 2.8m in hole 27887; 27.91 gpt over 0.9m in hole 27885; and 6.39 gpt over 1.2m in hole 27884. All four holes were drilled into an untested gap just above the 1210 level. The new intercept from hole 27886 is from the centre of the untested gap and is the highest-grade intercept obtained from this zone to date. Hole 27885 tested 50 m below hole 27886, hole 27887 tested 60 m to the southwest and, hole 27884 tested 50 m to the northeast.

Significant intercepts from the TVZ2 include: 4.39 gpt over 9.2 m in hole 27881; 4.23 gpt over 55.0m, including 10.83 gpt over 4.0m, and including 5.39 gpt over 27.0m in hole 27883; 3.27 gpt over 13.8m, including 5.24 gpt over 5.0m and 3.18 gpt over 9.0m in hole 27886; 3.87 gpt over 25.0m, including 6.41 gpt over 11.0m in hole 27966; and 3.42 gpt over 33.5m, including 4.40 gpt over 8.1m and including 5.18 gpt over 9.1m in hole 27965. Holes 27881 and 27886 targeted the east-central portion of the zone below the 1210 level and 35 m above the previously reported result of 3.90 gpt over 7.5m from hole 27882 (see press release dated February 10, 2026). Hole 27883 targeted the zone 85 m to the northeast of 27882 and holes 27965 and 27966 targeted approximately 170 m to the southwest.

Among significant intercepts from the splay veins were 4.36 gpt over 22.0m, including 13.33gpt over 4.4m in hole 27881; 8.38 gpt over 1.8m and 4.48 gpt over 11.6m, including 6.13 gpt over 7.4m, in hole 27965; and 3.57 gpt over 14.0m, including 7.81 gpt over 4.1m and 4.17 gpt over 11.5m, in hole 27966. The new intercept in hole 27881 lies 25 m directly above the previously reported result of 4.0 gpt over 30.1 m from hole 27982 (see press release dated February, 10 2026) and the intercepts in holes 27965 and 27966 are located approximately 80 m to the west.

Drilling on the 1680 level included nine new holes (3,208 m) which were drilled in a southeasterly direction to test near the lower limits of previous drilling on the TVZ2. Significant results include: 4.32 gpt over 19.0m, including 5.82 gpt over 9.0m and 5.60 gpt over 3.5m, in hole 27854; 4.24 gpt over 10.2m in hole 27856; and 3.80gpt over 10.2m, including 4.73 gpt over 6.0m in hole 27852, which intersected the TVZ2 vein near the 1600 level between previously reported values of 6.29 gpt over 5.3m and 4.98 gpt over 4.0m in holes 21094 and 21009 (see press release dated February 10, 2026).

Drilling at TVZ is ongoing with two drills operating on the 1210 level and one drill on the 1410 level. Drilling on the 1210 level is primarily focused on infilling and extending mineralization proximal to historic drilling, while drilling on the 1410 level continues to test the projected down plunge extension of the TVZ Zone.

Table 2: Intercepts from TVZ Project^1,2

Hole ID	Total Hole Depth	Platform	From		To			Core	Au		Notes3
								length
				(m)		(m)		(m)		(g/t)
27855	336.0	1680L	127.7		128.0		0.3		15.60		QV/VG
			177.4		184.1		6.7		3.20		QV/qs/aspy
			incl
			177.4		179.9		2.5		5.78
			283.1		288.8		5.7		1.66		qs/aspy/VG
27850	384.0	1680L	172.8		173.1		0.3		11.50		QV/aspy
			189.1		190.4		1.3		5.70		QV/qs/aspy
			303.0		310.0		7.0		2.78		qs/aspy
			343.5		344.9		1.4		4.30		qs/aspy
			353.5		355.3		1.8		3.07		qs/aspy
27853	351.0	1680L	154.0		156.5		2.5		2.22		QV/qs/aspy
			164.0		166.0		2.0		2.23		qs/aspy
			296.5		301.0		4.5		1.61		qs/aspy
			326.8		328.5		1.7		14.71		QV/qs/VG
27857	381.0	1680L	327.2		327.5		0.3		12.70		QV/VG/aspy
			352.0		352.3		0.3		9.52		QV/aspy
			361.5		361.8		0.3		9.99		QV/aspy
27851	390.0	1680L	218.0		221.0		3.0		3.06		qs/aspy
			315.7		318.4		2.7		4.27		QV/qs/aspy
27852	340.0	1680L	160.9		162.8		1.9		4.26		qs/aspy
			283.0		293.2		10.2		3.80		qs/aspy
			incl
			284.5		290.5		6.0		4.73		qs/aspy
27854	325.0	1680L	164.2		164.7		0.5		22.50		QV/aspy
			250.8		253.0		2.2		4.78		QV/qs/aspy
			288.0		307.0		19.0		4.32		QV/qs/aspy
			incl
			290.1		293.6		3.5		5.60		QV/qs/aspy
			and
			296.5		305.5		9.0		5.82		QV/qs/aspy
27856	330.0	1680L	149.2		151.6		2.4		3.60		QV/qs/aspy
			158.2		160.1		1.9		5.77		qs/aspy
			280.6		290.8		10.2		4.24		QV/qs/aspy
			303.7		306.6		2.9		3.05		QV/qs/aspy
27847	370.6	1680L	200		200.3		0.3		38.30		QV/VG/aspy
			303.5		312.0		8.5		2.24		qs/aspy
27883	410.0	1210L	71.4		71.8		0.4		17.30		qs/aspy
			133.0		135.0		2.0		3.37		QV/qs/aspy

			162.0	164.4	2.4	4.52	QV/qs/aspy
			174.1	178.7	4.6	1.13	qs/aspy
			196.1	197.7	1.6	2.75	qs/aspy
			210.0	213.0	3.0	4.39	QV/qs/aspy
			220.1	222.6	2.5	5.69	QV/qs/aspy
			341.0	396.0	55.0	4.23	QV/qs/aspy
			incl
			341.0	345.0	4.0	10.83	QV/qs/aspy
			and
			355.0	358.5	3.5	5.06	QV/qs/aspy
			and
			369.0	396.0	27.0	5.39	QV/qs/aspy
			incl
			382.0	394.0	12.0	7.44	QV/qs/aspy
27881	345.0	1210L	51.7	52.0	0.3	1.76	QV/aspy
			124.5	130.0	5.5	4.17	qs/aspy
			139.0	140.1	1.1	6.92	qs/aspy
			143.6	148.0	4.4	2.70	QV/qs/aspy
			153.6	175.6	22.0	4.36	QV/qs/VG
			incl
			171.2	175.6	4.4	13.33	QV/qs/VG
			incl
			173.7	175.0	1.3	39.59	QV/qs/VG
			260.3	264.7	4.4	3.13	qs/aspy
			298.0	307.2	9.2	4.39	QV/qs/aspy
			323.8	327.0	3.2	2.48	qs/aspy
			334.4	338.8	4.4	2.11	qs/aspy
27885	360.0	1210L	113.4	114.3	0.9	27.91	QV/VG/aspy
			251.7	258.5	6.8	6.77	QV/qs/VG
			268.0	270.6	2.6	3.46	QV/qs/aspy
27886	332.0	1210L	72.5	74.1	1.6	5.39	QV/qs/aspy
			146.5	150.3	3.8	72.46	QV/qs/VG
			incl
			149.5	149.8	0.3	770.00	QV/VG
			247.2	261.0	13.8	3.27	QV/qs/aspy
			incl
			247.2	251.0	3.8	4.13	QV/qs/aspy
			and
			256.0	261.0	5.0	5.24	QV/qs/aspy
			272.3	281.3	9.0	3.18	QV/qs/aspy
			incl
			272.3	275.5	3.2	5.50	QV/qs/aspy
27887	335.4	1210L	109.1	112.8	3.7	5.63	QV/qs/aspy

			119.6		125.0		5.4		6.14		QV/qs/aspy
			209.5		215.5		6.0		3.75		QV/qs/aspy
27965	163.0	1210L	5.7		10.1		4.4		4.95		QV/qs/aspy
			incl
			7.8		9.6		1.8		8.38		QV/qs/aspy
			52.0		56.7		4.7		4.43		QV/qs/aspy
			66.6		78.2		11.6		4.48		QV/qs/VG
			incl
			66.6		74.0		7.4		6.13		QV/qs/aspy
			85.60		119.1		33.5		3.42		QV/qs/VG
			incl
			93.40		101.5		8.1		4.40		QV/qs/aspy
			and
			110.0		119.1		9.1		5.18		QV/qs/VG
27966	150.0	1210L	2.0		11.0		9.0		3.15		qs/aspy
			incl
			9.0		11.0		2.0		8.25		qs/aspy
			19.0		33.0		14.0		3.57		QV/qs/aspy
			incl
			21.9		26.0		4.1		7.81		QV/qs/aspy
			56.0		67.5		11.5		4.17		qs/aspy
			107.0		132.0		25.0		3.87		QV/qs/aspy
			incl
			117.0		128.00		11.0		6.41		QV/qs/aspy
27884	500.0	1210L		167.3		168.5		1.2		6.39		QV/qs/aspy
				189.0		192.5		3.5		2.48		QV/qs/aspy
				302.9		305.5		2.6		9.23		QV/qs/VG
				361.2		363.4		2.2		5.68		QV/qs/aspy

1. All assays are reported uncut.

2. Intervals are reported using core lengths as true widths are not known at this time.

3. Acronyms stand for: QV = Quartz Vein, VG = Visible Gold, qs = quartz stringers, aspy = arsenopyrite.

Figure 3. TVZ

Figure 4: TVZ Results

Owl Creek

Drilling at the Owl Creek Project included a total of 12 holes (4,592.2 m) to confirm and expand mineralization near the former Owl Creek open pit as well as at the 750 Zone (Figure 5). Of the holes drilled, three holes (155 m) were abandoned due to excessive deviation.

The Owl Creek open pit is located approximately 1.5 kilometres west of the Hoyle Pond Ramp Portal and along the south side of the Hoyle Pond belt near the contact between metasedimentary and metavolcanic rocks. The pit, as well as two underground ramps below it, were developed by Falconbridge Gold in the 1980's and were utilized to recover approximately 237,000 ounces of gold at an average grade of 3.75 gpt. The 750 Zone is located approximately 700 m to the east of the Owl Creek pit and consists of a broad zone of mineralization located between surface and the 200 m level, which is defined by historic drilling from both from surface and the underground ramp.

Drilling at the Owl Creek Zone included eight holes (3954.2 m) designed to confirm and expand mineralization identified in both historic holes and previously reported holes (see Discovery Press Release dated November 6, 2025), with results including multiple significant intercepts between surface and the 650 m level.

Significant results include: 4.11 gpt over 30.0m, including 9.04 gpt over 3.0m, 7.17 gpt over 3.0m and 5.24 gpt over 10.1m, in hole OC26-029A; 7.34 gpt over 1.4m, 2.38 gpt over 35.5m, including 4.97 gpt over 2.1m and 6.05 gpt over 3.2m in hole OC26-035; 4.13 gpt over 13.8m, including 7.53 gpt over 7.0m, in hole OC26-37A; and 1.84 gpt over 11.2m, including 2.93 gpt over 3.0m and 4.54 gpt over 2.2m, in hole OC26-028A (Table 3).

Holes OC26-029A, OC26-035 and OC26-37A were drilled to infill untested gaps in the east portion of the deposit between the 275 and 375 m levels, while hole OC26-28A was drilled near the west limits of current drilling near the 400 level.

Drilling at the 750 Zone included one new hole (483.0 m) designed to confirm and expand mineralization near the 250 m level, which is at the lower limits of historic drilling. Results include: 5.76 gpt over 4.5m, 2.57 gpt over 8.9m and 1.62 gpt over 3.3m in hole OC25-027.

While the review and interpretation of drilling is still in progress, the new results at both Owl Creek and the 750 Zone are considered to be very positive. Holes at Owl Creek extend the overall footprint of the deposit to over 200 m and highlight a wide, high grade core of mineralization near the east-central portion of the pit, which starts at less than 100 m from surface. Holes at the 750 Zone highlight a new potential area for resource growth.

The program is continuing with two drills that will continue to focus on infill and extension of mineralization at both the Owl Creek and the 750 Zones. Work is also in progress to review potential new drill targets along the Hoyle Pond – Owl Creek Trend, such as the historic 350 Zone, which is located 500 m to the east of the 750 Zone and is partially developed, with a ramp connecting it to the Hoyle Pond Mine near the main ramp portal.

Table 3: Intercepts from New Drilling at Owl Creek Project1,2,3

ZONE	Hole ID	Total Hole Depth (m)		From		To		Core length		Au
				(m)		(m)		(m)		(g/t)
750 Zone	OC26-027	483.0	281.5		286		4.5		5.76
			313.0		321.9		8.9		2.57
			337.2		340.5		3.3		1.62
Owl Creek	OC26-029A	507.0	344.5		374.5		30.0		4.11
			incl
			345.6		348.6		3.0		9.04
			and
			351.9		354.9		3.0		7.17
			and
			362.5		372.6		10.1		5.24
	OC26-028A	630.0	415.3		418.7		3.4		3.10
			441.1		442.0		1.0		5.82
			449.0		452.0		3.0		3.05
			468.0		479.2		11.2		1.84
			incl
			468.0		471.0		3.0		2.93

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