Discovery provides update on 2022 ESG initiatives, including receiving official ESR award

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Discovery Silver Corp.

TORONTO, Nov. 11, 2022 (GLOBE NEWSWIRE) — Discovery Silver Corp. (TSX-V: DSV, OTCQX: DSVSF) (“Discovery” or the “Company”) is pleased to provide an update on its various environmental, social and governance (“ESG”) initiatives. The Society is also proud to announce the receipt of its official ESR distinction, which is issued by the Mexican Center for Philanthropy to organizations that have demonstrated that they operate in a socially and environmentally responsible manner.

Tony Makuch, interim CEO, says: “Achieving our ESR distinction, Great Place to Work certification and the significant progress we have made on other milestones and voluntary initiatives reflects the excellent work of our team in Mexico and the commitment we have made to protect the environment, provide a safe and inclusive workplace, and positively influence local communities and stakeholders. This proactive approach provides the company with a very solid platform as we look ahead to the development of Cordero and its potential transformation into one of the largest silver mines in the world.

Distinction Socially Responsible Company (Empresa Socialmente Responsable) (“ESR”): the Company received its official ESR Distinction from the Mexican Center for Philanthropy (Centro Mexicano para la Filantropia) (“CEMEFI”). The Distinction requires the company’s commitment to five pillars: business ethics, community involvement, protection and preservation of the environment, employee quality of life and corporate social responsibility. The company earned an “outstanding” rating based on its score across all metrics and was ranked in the top 10% of approximately 1,000 participating small and medium-sized businesses in Mexico.

Great Place to Work Certification: This certification rewards companies that create an exceptional employee experience by creating a culture of trust, credibility, respect, pride and collaboration. All required investigations were recently completed and following this review, the company obtained this certificate earlier this week.

Clean Industry Certification: This certificate is issued by the Mexican government entity PROFEPA (Federal Attorney’s Office for Environmental Protection) and is awarded after demonstrating full compliance with environmental regulations in Mexico. This requires an audit of the Company’s policies and procedures regarding waste management, environmental footprint, water, emissions, soil, biodiversity and other environmental compliance. The audit was completed by PROFEPA during the third quarter of this year. The Company expects to receive the results of the audit and potential Clean Industry certification in the first quarter of 2023.

Safe Industry Certification (Level 1): This certificate is issued by the Secretary of Labor of the Mexican Government and requires full legal compliance with over 20 health and safety standards as defined by the Mexican Federal Government. The audit required for this certificate should be completed by the end of the year. The Company has set a goal of achieving Level 2 certification in 2023.

Training and education:

  • International Association for Sustainable Economy (“IASE”) qualification – IASE certification is a globally recognized three-tier qualification requiring the highest professional and ethical standards for ESG professionals worldwide. Currently, nine employees, including the sustainability manager, country manager and finance manager, have completed Level 1 (fundamental), with the finance manager and sustainability manager having registered for the course and exam of level 2 (intermediate) in the fourth quarter of this year.

  • SafeStart: The SafeStart training program is a comprehensive framework that promotes personal safety awareness in the work environment. All local employees have completed the first level of the training program while 12 employees have completed all five certificate levels and are qualified to form, promote and regulate a safety culture within the company.

Local community initiatives: the nearest town to Cordero is Hidalgo del Parral (“Parral”), located approximately 35 km southwest of the Project and with a population of approximately 120,000. The Company recently signed an alliance with the Municipality of Parral aimed at improving access to social services for vulnerable groups of the local population, particularly in terms of medical assistance. Through this alliance, the Society donated a mobile medical unit to the township and provided assistance for the construction of a local medical clinic. Both services have the capacity to serve approximately 70,000 people per year. Additionally, our Parral employees have volunteered to participate in a domestic violence safety program and the company’s local Parral office has also been designated as a shelter for victims of abuse.

Further details on the Company’s current ESG practices and its priorities for the future are available in its 2021 ESG report available for download at: www.discoverysilver.com/sustainability. Additional information about the certificates mentioned above can be found at the following links:

CSR: https://www.cemefi.org/distintivo-esr-2/

Great place to work: https://greatplacetowork.com.mx/

Clean industry: https://www.gob.mx/profepa/acciones-y-programas/programa-nacional-de-auditoria-ambiental-56432

Safe industry: https://autogestionsst.stps.gob.mx/

IEAS: https://www.iase-certifications.com/en/

SafeStart: https://safestart.com/

About Discovery

Discovery’s flagship project is its 100% owned Cordero project, one of the largest silver deposits in the world. The PEA completed in November 2021 demonstrates that Cordero has the potential to be developed into a highly capital efficient mine that offers the combination of margin, size and scalability. Cordero is located near infrastructure in a prolific mining belt in the state of Chihuahua, Mexico. Continued exploration and project development at Cordero is supported by a strong balance sheet with cash on hand of approximately C$55 million.

On behalf of the Board of Directors,
Tony Makuch, P.Eng.
interim CEO

For more information, contact:

Forbes Gemmell, CFA
Vice President of Corporate Development
Phone: 416-613-9410
E-mail: forbes.gemmell@discoverysilver.com
Website: www.discoverysilver.com

FORWARD-LOOKING STATEMENTS:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release is not for distribution to US news agencies or for dissemination in the United States.

This press release does not constitute an offer to sell or a solicitation of an offer to buy and there will be no sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including securities in The United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities law and may not be offered or sold in the United States or to, or on behalf of or for the benefit of United States Persons (as defined in Regulation S of the 1933 Act) unless registered under the 1933 Act and the applicable state securities laws, or an exemption from such registration requirements is available.

Caution Regarding Forward-Looking Statements

This press release may contain forward-looking statements subject to inherent risks and uncertainties. All statements in this press release, other than statements of historical fact, should be considered forward-looking statements. Forward-looking statements, including, but not limited to, Discovery’s future plans and objectives in the areas of sustainability, health, safety, environment, community development, Project Cordero and the prospect of new discoveries there, constitutes forward-looking information that involves various risks and uncertainties. Although Discovery believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance and actual results or developments may differ materially from those described in the forward-looking statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include fluctuations in market prices, including metal prices, the continued availability of capital and financing, and general terms and conditions of the economy, market or business. There can be no assurance that such statements will prove to be accurate and, therefore, readers are urged to rely on their own assessment of such uncertainties. Discovery undertakes no obligation to update forward-looking statements, except as required by applicable law.

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