Discovery Metals Closes $35 Million Private Placement Including $15 Million Investment from Eric Sprott

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August 11, 2020, Toronto, Ontario – Discovery Metals Corp. (“Discovery”) (TSXV: DSV; OTCQX: DSVMF) is pleased to announce that it has closed the non-brokered private placement (the “Private Placement”), consisting of 25,927,000 units (“Units”) at a price of C$1.35 per Unit for aggregate proceeds of C$35,001,450. 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 (a “Warrant”) exercisable at C$1.75 for a period of two years after the date of issuance, expiring on August 7, 2022. Discovery announced the Private Placement on July 24, 2020.

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