TORONTO, Ontario — January 15, 2026 — Leads & Copy — Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF) announced its Porcupine operations produced 66,718 ounces of gold in the fourth quarter of 2025, bringing total gold production from the acquisition closing on April 15, 2025, to the end of the year to 180,424 ounces.
Including gold production in 2025 before the acquisition, the Porcupine operations produced 234,702 ounces for full-year 2025. All dollar amounts are in US dollars unless otherwise noted.
In the fourth quarter of 2025, gold production reached 66,718 ounces, with 67,010 ounces poured and 64,479 ounces sold. The average realized gold price was $4,157 per ounce sold.
Exploration results were released from resource conversion and expansion drilling at all operations, and from district drilling at Owl Creek.
A Resource Development Agreement was completed with Taykwa Tagamou Nation, intended to establish a cooperative relationship and provide support for Discovery’s operating activities within TTN’s territory.
Cash totaled approximately $410 million as of December 31, 2025.
An agreement was closed with a syndicate of Canadian financial institutions for a $250 million revolving credit facility, with a $100 million accordion feature.
Discovery’s President and CEO Tony Makuch said 2025 was a transformational year for Discovery. He noted that Discovery started the year as a development company advancing Cordero, one of the world’s largest silver projects. The acquisition of Newmont’s Porcupine operations established Discovery as a Canadian gold producer with operations in and near Timmins, Ontario. These operations include the Hoyle Pond and Borden underground mines, the Pamour open-pit mine, three key growth projects and exploration upside.
Makuch added that Discovery ended 2025 as a company with growth stories in both the gold and silver sectors.
Production growth resulted from improved grades at Hoyle Pond and higher tonnes processed from Pamour. Excellent exploration results were released at all operations, including high-grade intersections from drilling at Hoyle Pond and Borden, favorable drill results at Pamour, and encouraging results from drilling at Owl Creek. Discovery ended the year with 19 drills turning and expects additional exploration results to be released over the next few weeks.
The company is targeting continued operating performance and progress with its growth plans in 2026. Guidance for the year will be issued with the full Q4 2025 operating and financial results in February. The company has a strong balance sheet, including approximately $410 million in cash and no debt. Additional liquidity is available through the $250 million RCF, which remains undrawn, and the potential for another $100 million of credit.
Discovery is creating value for stakeholders through exposure to both gold and silver. The company’s silver exposure comes from the Cordero project. Discovery completed the acquisition of the Porcupine Complex on April 15, 2025, transforming the company into a Canadian gold producer with operations in and near Timmins, Ontario. Discovery owns a land position within the camp, with a Mineral Resources base remaining and growth and exploration upside.
For further information, contact: Mark Utting, CFA, SVP Investor Relations, Phone: 416-806-6298, Email: mark.utting@discoverysilver.com
Source: Discovery Silver Corp.
