Discovery Announces Warrant Exercises, Resulting in Increased Cash Balance of C$98 million

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February 22, 2021, Toronto, Ontario – Discovery Metals Corp. (TSX-V: DSV, OTCQX: DSVMF) (“Discovery” or the “Company”) announces that an aggregate of 31,140,000 common share purchase warrants with an exercise price of C$1.00 were exercised prior to their expiry on February 17, 2021. The exercises resulted in gross proceeds of approximately C$31 million. The Company’s current cash balance has increased to approximately C$98 million.

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