Discovery Appoints Ausenco as Lead Consultant for Cordero Preliminary Economic Assessment & Provides Project Update

May 12, 2021, Toronto, Ontario – Discovery Silver Corp. (TSX-V: DSV, OTCQX: DSVSF) (“Discovery” or the “Company”) is pleased to provide a project update and to announce the project study team for its Preliminary Economic Study (“PEA” or “the Study”) on the Company’s flagship Cordero project (“Cordero” or “the Project”) located in Chihuahua State, Mexico. The PEA will be led by Ausenco Engineering Canada Inc. (“Ausenco”) and is scheduled for completion in 4Q 2021 and will be based on an updated resource estimate scheduled for completion in 3Q 2021.

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