Discovery Reports Excellent Exploration Results from All Porcupine Targets

2026-02-10

TSX - Toronto Stock Exchange · Silver · Gold · Zinc · Lead · Canada

Hoyle Pond1 _S Zone:_High-grade intersections confirm potential to extend zone to depth, to the east and west2

59.18 gpt over 6.2m, including 488.00 gpt over 0.70 m 31.33 gpt over 1.6m 28.73 gpt over 5.1m 69.34 gpt over 4.1m

TVZ: Encouraging results from infill drilling north of main target zone3

4.10 gpt over 30.1m, including 6.65 gpt over 4.3m, and including 7.32 gpt over 6.0m, 5.37 gpt over 1.6m and 3.9 gpt over 7.5m.

Owl Creek: New drilling 3 km west of Hoyle Pond confirms and expands mineralization between surface and 650 m level3

4.82 gpt over 35.7m, including 35.39 gpt over 2.1 m, and 4.51 gpt over 5.0m 3.45 gpt over 25.0 m, including 4.91 gpt over 14.1m 4.01 gpt over 6.8 m, including 27.90 gpt over 0.5m 2.15 gpt over 39.3 m, including 27.20 gpt over 0.8m

Borden1 Main Zone: Drilling extends mineralization to the east and northeast2

16.97 gpt over 14.7m, including 21.76 gpt over 10.8m 6.64 gpt over 12.0m 8.24 gpt over 15.2m, includng 17.41 gpt over 4.4m 20.17 gpt over 7.8m, including 104.79 gpt over 1.3m 11.74 gpt over 7.2m, including 18.26 gpt over 4.2m

Pamour1 Current Pit: Drilling continues to return excellent results within and along strike of current resources in all three phases of pit design3

West Pit: 1.26 gpt over 140.0m, 0.74 gpt over 32.5m 1.13 gpt over 16.5m, 1.89 gpt over 26.7m Central Pit: 2.53 gpt over 30.8m, 1.71 gpt over 33.6m, 2.09 gpt over 8.0m 5.20 gpt over 12.5m, 2.04 gpt over 64.5m East Pit: 1.29 gpt over 44.8m, 1.21 gpt over 9.5m 1.50 gpt over 26.9m, 1.23 gpt over 22.2m, 2.37 gpt over 8.4m

_Broulan Pit: Positive results from drilling at new Broulan target, ~1.5 km southwest of Pamour_3

2.06 gpt over 29.6m, 4.15 gpt over 25.0m, 0.83 gpt over 8.0m

Dome1 Multiple zones of mineralization identified at Dome within and outside current resources3

2.50 gpt over 12.4m, and 3.97 gpt over 6.0m 1.47 gpt over 12.5m, including 2.55 gpt over 6.0m 13.64 gpt over 6.5m 1.61 gpt over 28.0m, 4.86 gpt over 18.5m, including 7.31 gpt over 12.0m

1. All assays are reported uncut. 2. Intervals are reported using both true widths and core lengths. 3. Intervals are reported using core lengths only.

TORONTO, Feb. 10, 2026 (GLOBE NEWSWIRE) -- Discovery Silver Corp.(TSX: DSV, OTCQX: DSVSF) (“Discovery” or the “Company”) today reported results from ongoing exploration at the Company’s Porcupine Operations, including Hoyle Pond Mine, Borden Mine and Pamour Mine, as well as at the Dome and TVZ advanced stage growth projects and regional exploration targets. The results include assays from a combined total of 137 holes1(40,823 metres (“m”)), completed between October 2025 and January 2026.

Tony Makuch, Discovery’s CEO, commented: “The exploration results announced today highlight the tremendous opportunity we have to grow resources and production in the Timmins Camp. The results include a combination of continued success with resource conversion and extension drilling at our existing operations and encouraging results from drilling at our near-term growth projects and key district targets.

“New results from Hoyle Pond include additional extensions to mineralization at depth in the S Zone and further progress establishing the zone’s potential to the east and west. At TVZ, our first hole from infill and expansion drilling on the 1210 level exploration drift intersected a wide, high-grade zone of mineralization. Work on this level is continuing, and we have also commenced drilling from the 1680 level to test the down plunge potential of the TVZ Zone. Three kilometres to the west, drill results at Owl Creek included multiple significant intercepts between surface and the 650 m level, which highlight the opportunity we have for new sources of production along the Hoyle Pond volcanic belt.

“At Borden, we continue to get encouraging results from underground drilling along a 300 m strike length of the Main Zone, with mineralization being extended both along trend to the east and northeast. We also have a surface drill targeting a high-potential trend located up to 1.2 km to the northeast of the Main Zone as we commence district drilling programs to evaluate new opportunities within Borden’s massive 1,000 km2 land position.

“Turning to Pamour, further progress was achieved confirming and extending mineralization along all three phases of the pit design. We also reported positive results from a district target near Pamour, the historic Broulan pit, located approximately 1.5 km to the southwest. We have often discussed the significant potential for Pamour to become something much larger and more valuable than currently planned, and the initial drill results from Broulan represent a first step in demonstrating that potential.

“Finally, another area of tremendous opportunity for Discovery is the prospect of resuming mining at Dome, where we currently have an 11.0 million ounce Inferred resource and considerable infrastructure already in place. Drilling commenced during the fourth quarter last year, with Initial work focused on infilling gaps in information and confirmation of historic drill holes in the southwest portion of the property where there has been limited past drilling. Results to date are encouraging and include multiple significant intercepts from both within and surrounding the current pit resource. We also recently commenced a new campaign of drilling in the northeast part of the pit and obtained additional positive results in the first hole. The current drilling is part of a 20,000 m drill program being completed in 2026 in preparation for a new mineral resource estimate targeted for late this year, with our goal being to upgrade a significant portion of the Inferred resource to the Indicated category.”

Figure 1. Location Map with Geology

_ _

Hoyle Pond Mine

Drilling at the Hoyle Pond Mine included a total of 20 holes (5,606.6m) to test the lower portion of the S Zone, the largest and highest-grade area of the mine. Of the holes drilled, eight holes (204m) were abandoned due to excessive deviation from the target.

The Hoyle Pond Mine is located approximately 20 km northeast of Timmins and is situated in the east portion of the Hoyle Pond volcanic belt adjacent to a major northeast trending flexure and the 1060 fault. Mineralization at the mine occurs in multiple zones of quartz veining between surface and a depth of 2,000m along the trend of the main flexure. The S Zone, which is the main focus of the current drill program, lies in the lower east portion of the mine, just east of the 1060 fault (Figure 2).

The twelve holes being reported were drilled mainly to test the down plunge extension of the S Zone to the east as well the lower west side where previously released holes had identified potential for high-grade lenses at depth.(Figure 3).All drilling was done from a series of platforms located on the 1860 level and on the north (hanging wall) side of the S Zone with holes intersecting the zone between the 2175 and 2275 elevations.

Key intercepts from the new drilling down plunge to the east include:59.18 gptover 6.2m, including488.00 gpt over 0.7m, in hole 27685 and 31.33gpt over 1.6m in hole 27684.

Results from the west include: 28.73 gpt over 5.1m in hole 27675A and69.34 gpt over 4.1m in hole 27678A.

Based on the new results, the potential to expand the S Zone and identify additional high-grade resources is considered excellent.

The program is continuing at the S Zone with three drills, which are focused on holes to depth and on the east side of the zone. Work is also ongoing to prepare several new locations in the mid-mine area for drilling which will start later in the first quarter of 2026.

Table 1: Intercepts from Hoyle Pond Underground Mine1,2,3

| Hole ID | Total Hole Depth | From | To | Core length | Estimated True Width | Au | Notes | | (m) | (m) | (m) | (m) | (g/t) | | | | | 27684 | 429.0 | 383.0 | 384.7 | 1.7 | 1.6 | 31.33 | Visible Gold | | 27675A | 402.0 | 352.8 | 358.1 | 5.3 | 5.1 | 28.73 | Visible Gold | | 27685 | 450.0 | 402.9 | 409.5 | 6.6 | 6.2 | 59.18 | Visible Gold | | incl | | | | | | | | | 407.0 | 407.7 | 0.7 | 0.7 | 488.00 | | | | | incl | | | | | | | | | 408.7 | 409.5 | 0.8 | 0.8 | 49.40 | | | | | 27683 | 452.6 | 403.6 | 406.3 | 2.7 | 2.5 | 1.59 | | | incl | | | | | | | | | 405.3 | 405.9 | 0.6 | 0.5 | 4.26 | Visible Gold | | | | 27686 | 430.0 | 384.5 | 390.2 | 5.7 | 5.6 | 3.59 | Visible Gold | | incl | | | | | | | | | 384.5 | 385.5 | 1.0 | 1.0 | 8.61 | Visible Gold | | | | incl | | | | | | | | | 388.2 | 390.2 | 2.0 | 2.0 | 5.83 | Visible Gold | | | | 27699D | 531.0 | 456.7 | 463.3 | 6.6 | 6.5 | 2.64 | | | incl | | | | | | | | | 461.5 | 463.3 | 1.8 | 1.8 | 7.40 | | | | | 27678A | 423.0 | 385.4 | 389.6 | 4.2 | 4.1 | 69.34 | Visible Gold |

1. All assays are reported uncut. 2. Intervals are reported using both true widths and core lengths. 3. Holes 27702C, 27665, 27698, 27676, and 27704 are not included in the table above as they have low grade values.

Figure 2. Hoyle Pond Mine Area

Figure 3. Hoyle Pond – S Zone Lower

TVZ Project

Drilling at the TVZ project is now in progress and to date includes one completed hole (370m) from the 1210 level.

TVZ is a significant zone of gold mineralization located between the 800 and 1800 m levels in the southeast portion of the Hoyle Pond Mine (Figure 4).

Geologically, TVZ lies in the Porcupine sediments south of the Hoyle Pond volcanic belt, just east of the 1060 fault. Gold mineralization is closely associated with a northeast trending, steeply dipping shear zone with local splay veins, which plunge moderately to the northeast. The bulk of the mineralization identified to date occurs within a panel measuring approximately 600m long by 200m in height, extending from the 850 level to just below the 1410 level, with the best grades typically having a strong correlation with increased amounts of quartz veining, pyrite and arsenopyrite.

Past work at the project includes 437 holes (172,319m) of wide-spaced drilling from three main platforms on the 900, 1210 and 1410 levels, as well as limited development, mapping, chip sampling and metallurgical test work on the 1210 level. Results from the drilling, mapping and chip sampling have been positive and indicate multiple holes with grades exceeding 5.0 gpt over widths of 5 to 10 m. The results also indicate positive results from the two deepest holes to test the zone to date, holes 21009 and 21094, with returned values of 6.29 gpt over 5.3mand 4.98 gpt over 4.0m, respectively, between the 1550 and 1610 levels. As a result, the potential to extend the zone to greater depths is considered excellent.

Results of the past metallurgical work indicate a strong correlation of gold with arsenopyrite and variable recoveries, but with the potential for improvement using enhanced processing.

The current work program is designed to infill and expand the TVZ Zone with drilling from the historic drill platforms in preparation for an initial NI 43-101 mineral resource in late 2026.

The new hole was drilled in a southeasterly direction from a drill station approximately 100m northwest of the zone on the 1210 level and designed to cross the main structures at angles close to perpendicular. Results of the program were positive and included assays of 4.10 gpt over 30.1m, including 6.65 gpt over 4.3m, and including7.32 gpt over 6.0m, and 5.37 gpt over 1.6m, and 3.90 gpt over 7.5m in hole 27882. Review of the new data indicates the best zone in the hole coincides strongly with a series of splay veins located between 50-75m to the north of the main shear zone and consists of mineralization which is closely associated with increased quartz veining, sericite, pyrite and arsenopyrite.

Drilling at TVZ is continuing with one drill located on the 1210 level and one on the 1680 level. Drilling on the 1210 level is designed mostly to infill and extend mineralization near the historic drilling, while drilling on 1680 level is testing the projected down plunge extension of the TVZ Zone.

Table 2: Intercepts from TVZ Project1,2

| Hole ID | Total Hole Depth | From | To | Core length | Au | Notes | | (m) | (m) | (m) | (g/t) | | | | | 27882 | 370.0 | 141.4 | 171.5 | 30.1 | 4.10 | | | incl | | | | | | | | 141.4 | 144.5 | 3.1 | 5.21 | Visible Gold | | | | and incl | | | | | | | | 147.7 | 152.0 | 4.3 | 6.65 | | | | | and incl | | | | | | | | 154.0 | 160.0 | 6.0 | 7.32 | | | | | and incl | | | | | | | | 168.0 | 171.5 | 3.5 | 4.74 | | | | | 219.4 | 221.0 | 1.6 | 5.37 | | | | | 298.5 | 306.0 | 7.5 | 3.90 | Visible Gold | | |

1. All assays are reported uncut. 2. Intervals are reported using core lengths.

Figure 4. TVZ

Owl Creek

Drilling at the Owl Creek Project included a total of 17 holes (9,042m) designed to test for potential strike and depth extensions of mineralization near the former Owl Creek Open Pit (Figure 5).Of the holes drilled, five holes (738m) were abandoned due to excessive deviation.

The Owl Creek Open Pit is located approximately three kilometres west of the Hoyle Pond Mine and along the south side of the Hoyle Pond belt near the contact between metasedimentary and metavolcanic rocks. The pit, as well as two underground ramps below it, were developed by Falconbridge Gold in the 1980's and were utilized to recover approximately 237,000 ounces of gold at an average grade of 3.75 gpt.

The new drilling was designed to confirm and expand mineralization identified in both historic holes and previously reported holes (see Discovery Press Release dated November 6, 2025), with results including multiple significant intercepts between surface and 650 m level.

Significant results include: 4.82 gpt over 35.7m, including35.39 gpt over 2.1m, and4.51 gpt over 5.0m, in OC25-018;and 3.45 gpt over 25.0m, including 4.91 gpt over 14.1m, in OC25-009C, which targeted the main zone on the east side of the historic pit approximately 100-150m above previously announced results from hole OC25-001, which intersected 4.08 gpt over 16.3m and4.14 gpt over 17.5m,and hole OC25-006 which intersected 5.58 gpt over 5.2m and 5.39 gpt over 11.0m.

Additional significant holes included 4.01 gpt over 6.8m, including27.90 gpt over 0.5m, and2.15 gpt over 39.3m, including27.2 gpt over 0.8m, in OC25-015; and 2.61 gpt over 33.9 m, including5.36 gpt over 3.0m, and including5.52 gpt over 5.0m and including4.35 gpt over 3.5min hole OC25-20, which were drilled 50 and 200m to the west of OC25-018 (Table 3).

While the review and interpretation of drilling is still in progress, initial results indicate that the most significant mineralization in both new and historic drill holes occurs near the tip of an easterly plunging wedge of mafic volcanics, which remains open to depth.

The program is continuing with two drills that will continue to target mineralization near surface and at depth at Owl Creek, as well as towards the 750 Zone, which is located approximately 850m to the east.

Table 3: Intercepts from New Drilling at Owl Creek Project1,2,3

| Hole ID | Total Hole Depth | From | To | Core length | Au | Notes | | (m) | (m) | (m) | (g/t) | | | | | OC25-008 | 495 | 343 | 346 | 3.0 | 2.15 | | | OC25-009C | 561 | 414.1 | 417.3 | 3.2 | 2.50 | | | 432 | 457 | 25.0 | 3.45 | | | | | incl: | | | | | | | | 442.9 | 457.0 | 14.1 | 4.91 | | | | | OC25-010 | 459 | 334.4 | 341 | 6.6 | 1.36 | | | incl: | | | | | | | | 340.5 | 341 | 0.5 | 6.95 | | | | | OC25-012 | 831 | 392.3 | 395.5 | 3.2 | 2.37 | | | incl: | | | | | | | | 395 | 395.5 | 0.5 | 10.80 | | | | | OC25-014 | 861 | 397 | 401 | 4.0 | 2.70 | | | incl: | | | | | | | | 399.2 | 400 | 0.8 | 8.30 | | | | | 661.6 | 665.3 | 3.7 | 12.31 | | | | | OC25-015 | 771 | 552.2 | 559 | 6.8 | 4.01 | | | incl: | | | | | | | | 558.5 | 559 | 0.5 | 27.90 | | | | | 578.6 | 581.8 | 3.2 | 3.29 | | | | | 594.7 | 634 | 39.3 | 2.15 | | | | | incl: | | | | | | | | 626.2 | 627 | 0.8 | 27.20 | | | | | and incl. | | | | | | | | 633 | 634 | 1.0 | 14.95 | | | | | OC25-016 | 543 | 350 | 353 | 3.0 | 6.01 | | | OC25-017 | 837 | 621.5 | 624.5 | 3.0 | 4.99 | | | 651 | 654 | 3.0 | 2.24 | | | | | 656 | 670.9 | 14.9 | 2.47 | | | | | 693 | 710 | 17.0 | 2.68 | | | | | OC25-018 | 657 | 457 | 462 | 5.0 | 4.51 | | | 476.1 | 511.8 | 35.7 | 4.82 | | | | | incl: | | | | | | | | 499.8 | 501.9 | 2.1 | 35.39 | | | | | and incl. | | | | | | | | 505.6 | 505.9 | 0.3 | 54.20 | | | | | OC25-020 | 759 | 597 | 630.9 | 33.9 | 2.61 | | | incl: | | | | | | | | 597 | 600.0 | 3.0 | 5.36 | | | | | and incl. | | | | | | | | 616.4 | 621.4 | 5.0 | 5.52 | | | | | and incl | | | | | | | | 627.4 | 630.9 | 3.5 | 4.35 | | | |

1. All assays are reported uncut. 2. Intervals are reported using core lengths only. 3. Holes OC25-011 and OC-25-013 are not included in the table above as they have low grade values.

Figure 5. Owl Creek Plan View

Borden Mine

Drilling at the Borden Mine included a total of 19 holes (4,867.7m) to convert and expand resources in the northeast portion of the Main Zone which is the host for the majority of gold mineralization at the mine (Figures 6 and 7).

The Borden Mine is located approximately 190 km southwest of the Dome Mill, near Chapleau and in the south portion of the Borden Lake Greenstone Belt. The Main Zone is an east-west trending structure located along the east - west trending Genesis Deformation Zone (“GDZ”) adjacent to a major contact between felsic gneiss and amphibolite. Work to date has traced the zone for a strike length of over 1.7 km along strike and indicates the zone is closely associated with quartz veining, biotite-garnet alteration and pyrite.

The holes reported today are part of a continuing program to cover a 300m strike length of the Main Zone near the current northeast limit of inferred resources. All drilling is being planned from cut outs located in the east portion of the 585-exploration drift, situated in the hanging wall of the zone.

Results of the program continue to be extremely positive across the full area drilled. Key results include: 16.97 gpt over 14.7m, including21.76 gpt over 10.8m, in 585-00114, 6.64 gpt over 12.0min 585-00154, 8.24 gpt over 15.2m, including17.41 gpt over 4.4m,in 585-00156, 7.20 gpt over 10.4min hole 585-00109, 10.10 gpt over 14.8min hole 585-00122, 9.39 gpt over 13.2min hole 585-00118, and 7.54 gpt over 22.5min hole 585-00115, which were drilled mainly on the east side of the zone. It is important to note that holes, 585-00114, 585-00154, 585-0156 expand the zone by at least 50m on the east side of the zone (Table 4).

Additional highlights include 20.17 gpt over 7.8min hole 585-00113, 10.27 gpt over 7.5m,in hole 585-00116, and 11.74 gpt over 7.2m, including18.26 gpt over 4.2min hole 585-00110, which were drilled in the central and west side of the zone to further confirm past results and re-enforce the high grade nature and continuity of this area.

From current interpretations, the Main Zone continues to track as planned with grades and widths that are similar to, or better than, the current resource model. These results, along with ongoing wide-spaced surface drilling, located up to 1.2 km to the northeast, establish the potential for further growth as drilling continues.

The program is continuing with three drills working to convert and extend resources. Planning is also in the final stages for a further extension of the exploration drift to the northeast. A surface drill has also now been mobilized to the area northeast of the Main Zone and is now in operation.

Table 4: Intercepts from Borden Underground Mine1,2

| Hole ID | Total Hole Depth | From | To | Core length | Estimated True Width | Au | Notes | | | (m) | (m) | (m) | (m) | (g/t) | | | | | | 585-00154 | 303.9 | 257.2 | 270.1 | 12.9 | 12.0 | 6.64 | | | | incl | | | | | | | | | | 260.0 | 269.1 | 9.1 | 8.5 | 8.00 | | | | | | 585-00113 | 297.0 | 248.7 | 258.5 | 9.8 | 7.8 | 20.17 | | | | incl | | | | | | | | | | 255.5 | 257.1 | 1.6 | 1.3 | 104.79 | | | | | | 585-00114 | 266.4 | 230.5 | 248.1 | 17.6 | 14.7 | 16.97 | | | | incl | | | | | | | | | | 233.0 | 245.9 | 12.9 | 10.8 | 21.76 | | | | | | 585-00115 | 271.0 | 210.0 | 238.9 | 28.9 | 22.5 | 7.54 | | | | incl | | | | | | | | | | 231.2 | 237.8 | 6.6 | 5.1 | 19.21 | | | | | | 585-00117 | 254.9 | 206.2 | 217.3 | 11.1 | 9.8 | 5.15 | | | | 585-00122 | 205.0 | 176.8 | 194.1 | 17.3 | 14.8 | 10.10 | | | | incl | | | | | | | | | | 179.5 | 194.1 | 14.5 | 12.5 | 11.27 | | | | | | 585-00231 | 206.4 | 172.7 | 180.3 | 7.6 | 7.0 | 4.93 | | | | 585-00232 | 225.0 | 189.8 | 193.3 | 3.5 | 3.1 | 7.94 | | | | 585-00233 | 205.0 | 155.0 | 158.0 | 3.0 | 2.7 | 5.48 | | | | 585-00121 | 259.0 | 226.0 | 230.0 | 4.0 | 3.7 | 4.74 | | | | incl | | | | | | | | | | 228.7 | 230.0 | 1.4 | 1.3 | 9.50 | | | | | | 585-00157 | 303.6 | 273.8 | 277.7 | 3.9 | 3.5 | 8.24 | | | | 585-00119 | 233.9 | 187.2 | 200.6 | 13.4 | 12.7 | 8.40 | | | | incl | | | | | | | | | | 188.3 | 197.2 | 8.9 | 8.4 | 10.83 | | | | | | 585-00116 | 270.0 | 233.4 | 241.1 | 7.7 | 7.5 | 10.27 | | | | 585-00120 | 217.0 | 181.7 | 197.1 | 15.4 | 14.9 | 8.22 | | | | incl | | | | | | | | | | 183.7 | 196.1 | 12.4 | 12.1 | 8.82 | | | | | | 585-00109 | 289.5 | 242.8 | 254.3 | 11.5 | 10.4 | 7.20 | | | | incl | | | | | | | | | | 247.0 | 254.3 | 7.3 | 6.6 | 9.15 | | | | | | 585-00110 | 230.4 | 207.1 | 215.9 | 8.8 | 7.2 | 11.74 | | | | incl | | | | | | | | | | 209.8 | 214.9 | 5.1 | 4.2 | 18.26 | | | | | | 585-00118 | 244.2 | 197.4 | 211.3 | 13.9 | 13.2 | 9.39 | | | | incl | | | | | | | | | | 199.4 | 207.4 | 8.0 | 7.7 | 13.73 | | | | | | 585-00156 | 296.3 | 251.6 | 268.5 | 16.9 | 15.2 | 8.24 | | | | incl | | | | | | | | | | 263.6 | 268.5 | 4.9 | 4.4 | 17.41 | | | | | | 585-00158 | 289.2 | 255.9 | 263.2 | 7.3 | 6.5 | 6.93 | | | | incl | | | | | | | | | | 260.1 | 262.6 | 2.5 | 2.2 | 11.71 | | | | |