Discovery Metals Announces $35 Million Private Placement with $15 Million Investment from Eric Sprott

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July 24, 2020, Toronto, Ontario – Discovery Metals Corp. (TSXV: DSV; OTCQX: DSVMF) (“Discovery” or “the Company”) is pleased to announce that it has arranged a non-brokered institutional private placement (the “Private Placement”) to raise C$35,000,000 through the issuance of 25,925,925 units (“Units”) at a price of C$1.35 per Unit, representing a premium to its last closing price. Each Unit is comprised of one common share of Discovery (“Common Share”) and one half of one Common Share purchase warrant, with each full warrant exercisable at C$1.75 for a period of two years after the date of issuance.

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