Discovery reports 63,154 Ounces of Gold Production, $86.8 Million of free cash flow1 in Q3 2025

Press Release

November 13, 2025

Cash of $341.5 million at September 30, 2025

Q3 2025 NET EARNINGS AND EPS

• Net earnings of $42.4M ($0.05/share) versus net loss of $3.9M ($0.01/share) in Q3 2024; Adjusted net earnings¹ totaled $61.1 million or $0.08/share.

GOLD PRODUCTION IN Q3 2025

• 63,154 oz produced compared to 50,552 oz in Q2 2025 (from April 16 – June 30).

OPERATING CASH COSTS IN LINE WITH EXPECTATIONS

• Operating cash costs¹ of $1,339/oz sold versus $1,341/oz in Q2 2025.

ATTRACTIVE MARGINS DRIVE PROFITABILITY AND CASH FLOW

• All-in sustaining costs (“AISC”)¹ averaged $1,734/oz sold compared to an average realized gold price¹ of $3,489/oz; Site-level AISC² averaged $1,699/oz sold.

STRONG CASH FLOW FROM GOLD SALES

• Net cash from operating activities of $153.5M; Free cash flow¹ of $86.8M.

SOLID CASH POSITION TO SUPPORT OPERATIONS AND GROWTH PLANS

• Cash at September 30, 2025, totaled $341.5M, with working capital of $224.2 million.

NEW REVOLVING CREDIT FACILITY (“RCF”) PROVIDES INCREASED LIQUIDITY

• New RCF will allow Discovery to borrow up to $250 million, with an accordion feature for an additional $100 million. The agreement is expected to close in Q4 2025.

ENCOURAGING EXPLORATION RESULTS RELEASED SUBSEQUENT TO QUARTER END

• Resource conversion and expansion drilling at Hoyle Pond, Borden and Pamour returns excellent results; Encouraging drill results at Owl Creek confirm potential for significant high-grade mineralization west of Hoyle Pond.

November 13, 2025, Toronto, Ontario – Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF) (“Discovery” or the “Company”) today announced the Company’s financial and operating results for the third quarter (“Q3 2025”) and first nine months (“YTD 2025”) of 2025. Discovery began reporting the results of gold production and sales following the Company’s acquisition (“Acquisition” or “Porcupine Acquisition”) of the Porcupine Complex (“Porcupine”) in and near Timmins, Ontario on April 15, 2025. The Company’s full financial statements and management discussion & analysis are available on SEDAR+ at www.sedarplus.ca and on the Company’s website at www.discoverysilver.com. All dollar amounts are in US dollars, unless otherwise noted.

Tony Makuch, Discovery’s CEO, commented: “During Q3 2025, we generated solid operating and financial results while at the same time continuing to integrate systems, align policies and procedures, strengthen management structures and advance investment programs at Porcupine. A key highlight of the third quarter was cash flow, with net cash from operating activities of $153.5 million and free cash flow1 totaling $86.8 million. Strong cash flow resulted from a 56% increase in gold sales, to 66,200 ounces from 42,550 ounces the previous quarter, and an increase in the average realized gold price1, to $3,489 per ounce sold. Driven by strong cash flow generation, we grew our cash position by 35%, to $341.5 million at September 30, 2025. With our current cash, as well as a new revolving credit facility for $250 million, plus a $100 million accordion feature, Discovery is very well capitalized as it moves forward with investment plans aimed at growing production, improving costs and maximizing value creation at Porcupine.

“A key component of the tremendous potential at Porcupine involves exploration. Last week, we issued our first exploration update, which included excellent drill results from resource conversion and expansion drilling at Hoyle Pond, Borden and Pamour, as well as very encouraging results at Owl Creek, which confirm the presence of high-grade mineralization three kilometers to the west of Hoyle Pond. We also announced the commencement of drilling programs at Dome Mine and the TVZ Zone. Dome and TVZ have the potential to become two new mining operations that could substantially grow production and value creation in Timmins. Drilling at Dome and TVZ is being conducted as part of studies to more thoroughly evaluate the projects, with these studies targeted for completion in 2026.”

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