Discovery Metals Corp.
TSX VENTURE : DSV.H
NEX BOARD : DSV.H

Discovery Metals Corp.

July 05, 2017 09:16 ET

Discovery Metals Strengthens Management Team with Appointments of CEO and CFO

VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 5, 2017) - Discovery Metals Corp. (TSX VENTURE:DSV.H)(NEX:DSV.H) ("Discovery Metals" or the "Company") today announced the appointments of Mr. Taj Singh, M.Eng, P.Eng, CPA as President and Chief Executive Officer and Mr. Orest Zajcew, CFA, PhD as Chief Financial Officer and Corporate Secretary. The appointments will be effective on completion of the Company's Change of Business transaction (the "Transaction") and completion of the associated $10 million private placement financing as previously announced on June 8, 2017. Mr. Singh is a mining executive with over 17 years of experience in corporate development, capital markets, project development, engineering and operations, and has significant experience working in Mexico. Mr. Zajcew has over a decade of experience as a Chief Financial Officer and Corporate Secretary for a number of TSX, TSXV and CSE listed exploration companies. Mr. Singh will be appointed to the Board of Directors.

"On behalf of Discovery Metals, I am pleased to welcome Mr. Taj Singh as President and Chief Executive Officer and Mr. Orest Zajcew as Chief Financial Officer and Corporate Secretary," stated Murray John, Chairman of the Board. "During his tenure at Timmins Gold Corp. ("Timmins Gold"), Mr. Singh spent significant time in Mexico leading the project evaluations team, successfully executing on several growth transactions and directing the progression of the company's exploration and development assets. Mr. Singh's strong financial and technical background and in-country expertise will be a strong asset to Discovery as we look to progress our flagship Puerto Rico property and suite of other exploration properties in Coahuila State, Mexico. Additionally, Mr. Zajcew's extensive background in financial management, banking, mining finance and directing project-site financial operations means that he will be a great addition to our team."

TAJ SINGH, M.ENG, P.ENG, CPA

Mr. Singh is a mining executive with over 17 years of experience in corporate development, capital markets, project development, engineering and operations. In his last role, he was Vice-President of Engineering & Project Development, and Vice-President of Business Development for Mexican gold producer Timmins Gold, (now Alio Gold Inc. ("Alio Gold")) where he also served as the company's Qualified Person. During his five-year tenure with Timmins Gold, Taj was responsible for overseeing the capital markets and mergers and acquisitions strategies of the company, leading the execution of numerous merger and acquisition transactions, including the acquisition of Newstrike Capital Inc. (Ana Paula Project), the acquisition of the Caballo Blanco Project and the acquisition of the El Sauzal process plant from Goldcorp Inc.. Most recently Mr. Singh oversaw the completion of the Pre-Feasibility Study for the Ana Paula Project, the primary growth project for Alio Gold. Mr. Singh also has experience with Macquarie Capital Markets as a sell-side gold analyst, with Inco Limited and Vale Limited in operations and is the author of US and European patents in the field of base metal processing. Mr. Singh is a Professional Engineer (P.Eng), a Chartered Professional Accountant (CPA), and holds a Bachelor of Engineering (Metallurgical) from the University of Toronto and a Master of Engineering (Metallurgical) from McMaster University.

OREST ZAJCEW, CFA, Ph.D.

Mr. Zajcew has over ten years experience as a Chief Financial Officer and Corporate Secretary for a number of TSX, TSXV and CSE listed exploration companies. From 2005 to 2015 he was CFO for Ryan Gold Corp. and Corona Gold Corporation until these companies, along with Eagle Hill Exploration Corp., were acquired by Oban Mining Corp. to form what is now known as Osisko Mining Inc. He was also CFO for a number of other companies such as Odyssey Resources Limited, Cogitore Resources Inc. and AgriMarine Holdings Inc. Mr. Zajcew received his doctorate in Political Science from the University of Toronto in 1998. He has been a CFA charterholder since 2001.

Completion of the Transaction, as described in the Company's news releases dated May 1, 2017, June 1, 2017 and June 14, 2017, remains subject to Exchange approval. Trading in the Company's common shares will remain halted pending further filings with the Exchange. The Company is working diligently to complete the remaining filings with the Exchange, with a view to completing the proposed transaction in short order.

For further information, contact Scott Ackerman @ sackerman@emprisecapital.com.

On Behalf of the Board of Directors of:

DISCOVERY METALS CORP.

Scott Ackerman, Director

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

Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of the Company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

This news release may include forward-looking statements that are subject to inherent risks and uncertainties. All statements within this news release, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those described in forward-looking statements. Factors that could cause actual results to differ materially from those described in forward-looking statements include fluctuations in market prices, including metal prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under applicable laws

About Discovery Metals

Discovery Metals is focused on discovering and advancing high grade polymetallic deposits in a recently assembled land package of approximately 300,000 hectares over a large and historic mining district in northern Coahuila State, Mexico. The portfolio of seven key properties, all with shallow high grade silver-zinc-lead mineralization, is situated in a world class Carbonate Replacement Deposit (CRD) belt that stretches from SE Arizona to central Mexico. The land holdings contain numerous historical direct-ship ore workings with over 4,000 m of underground development. No modern exploration or exploration drill testing has been carried out on the properties.

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