Discovery Ventures Inc.

Discovery Ventures Inc.

September 18, 2014 08:00 ET

Discovery Ventures-MAX Mine Dam Safety Inspection Underway

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 18, 2014) - Discovery Ventures Inc. (TSX VENTURE:DVN)(FRANKFURT:0DV) ("Discovery" or the "Company"), announces it has engaged geotechnical consulting firm Klohn Crippen Berger (KCB) of Vancouver, BC to complete a Dam Safety Inspection ("DSI") of the MAX Mine Tailings Storage Facility ("TSF"). A site inspection was completed on September 4, 2014 by KCB. SRK Consultants of Vancouver, BC has also been engaged to complete an independent third party review of the DSI and recently completed a site visit to the MAX TSF.

The DSI and independent third party review of all tailings storage facilities in the province was ordered by BC's Chief Inspector of Mines on August 18, 2014. The order requires all tailings impoundment structures be inspected, have independent third party review and include a review of the dam consequence classification. The DSI, independent report and other information must be submitted to the Chief Inspector before December 1, 2014.

Having completed the site inspection, the consultants are now reviewing design and monitoring records in conjunction with Canadian Dam Association, Dam Safety Guidelines, and the Company anticipates that work will be completed well before the required submission date. Further, Discovery's 35% owned subsidiary FortyTwo Metals (the owner and operator of the MAX Mine) has also committed to making the reports publically available on its website after they have been submitted to the Chief Inspector.

About Discovery

Discovery is an exploration and development stage company focused on the WillaMAX project, which is prospective for gold. A summary of the project is provided in a recent WillaMAX Preliminary Economic Assessment (PEA) released May 26, 2014 as amended June 20, 2014 prepared by Wayne M. Ash, P.Eng. The WillaMAX project would combine the Willa copper-gold resource with processing facilities at the MAX Mine, both located in south east BC. Due diligence is underway for project financing that is anticipated to facilitate the completion of key acquisitions and advance engineering and permitting work for both sites. The MAX Mine acquisition includes existing permits, a modern mill & concentrator and sizeable tax loss pools.

On behalf of the Board of Directors,

Akash Patel, President, CEO and Director, Discovery Ventures Inc.

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. 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: (i) adverse market conditions; and (ii) risks inherent in the mineral exploration industry in general. 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.

Neither 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.

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