Discovery Ventures Inc.

Discovery Ventures Inc.

February 01, 2016 08:30 ET

Discovery Ventures Inc. Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 1, 2016) - Discovery Ventures Inc. (TSX VENTURE:DVN)(FRANKFURT:ODV)(OTCQX:DTVMF) ("Discovery") is pleased to announce an updated report on activities on the Max Mill Site and at the Willa Gold, Silver, Copper Deposit.

At the Max Mill site the following work has been completed or is currently underway:
New safety and dry rooms.
New heating system has been installed to maintain the mill building at 19 degrees Celsius when milling operations are not running.
Previous mechanical shop torn down with new shop under construction.
Lighting upgrade to T5 type.
Crusher retro-fitting.
Acquired new diesel generators with potential to reduce fuel consumption from 80 to 20 litres\hour.
General cleaning, painting and maintenance of existing equipment.
At the Willa Gold, Silver and Copper Project Discovery Ventures:
Has completed a 3D model of the geology, a block model of the mineralization and a mine plan for the 10,000 tonne bulk sample.
Conducting a baseline water study to follow up on previous studies.
Has completed a Slope Study of the portal area.
With the Ministry of Mines and Energy formed a joint water committee with local water societies.
Cleared existing road to Willa portal and undertaking study on engineering requirements for water control/erosion measures for the road.
Survey is also underway for slope stabilization, refurbishment of the 1025 Portal including repairs to existing drainage pipes.

"Shareholders, as you can see, we are progressing forward rapidly with our flagship project, the WillaMax. Additional to this, the company's debt settlement agreement with Genex Mining Company Ltd was a major accomplishment for Discovery and we are very proud to have overcome that hurdle," says Company CEO Dan Omeniuk.

About Discovery

Discovery Ventures Inc. is a gold, copper and silver mining company focused on the exploration and development of its WillaMAX project that is located in the Kootenay region of British Columbia. The company holds a 100% interest in four mineral properties in B.C., and is currently active in the development of its Willa Property. Discovery's newly acquired Max Mine and Milling facility is located 132km north of the Willa Project site.

On behalf of the Board of Directors,

Dan Omeniuk, Chief Executive Officer and Director, Discovery Ventures Inc.

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

This press release contains forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Discovery, such as statements regarding the terms of the debt settlement. There are numerous risks and uncertainties that could cause actual results and Discovery's plans and objectives to differ materially from those expressed in the forward-looking information, including approval from the TSX Venture Exchange. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Discovery does not intend to update these forward-looking statements.

Contact Information

  • Discovery Ventures Inc.
    Dan Omeniuk
    Chief Executive Officer and Director

    Discovery Ventures Inc.
    Ron Birch