Discovery Silver (DSV) investor relations material

Strategic acquisitions and operational milestones

• Acquired Porcupine Gold assets in Timmins, Ontario, with the deal closing in April 2026.

• Transitioned to gold producer status, reporting strong Q1 operational performance and significant free cash flow.

• Market response to the acquisition has been strong, with further upside anticipated.

• Technical report values net present value (NPV) at $2.5–$3.5 billion, trading at a discount to peers.

• Five key value drivers identified, including operational upside, Dome, TVZ, aggressive exploration, and Cordero.

Asset portfolio and production growth

• Operates three gold mines: Hall Pond (high-grade underground), Panmore (open pit, ramping up), and Borden (underground).

• All mines feed the Dome mill, adjacent to the 11 million ounce Dome deposit.

• Production expected to grow from 200,000 ounces to over 300,000 ounces as Panmore ramps up.

• Baseline scenario projects over 50% production growth in coming years.

• Targeting mining rate increases at Hall Pond and Borden, and mill expansion to 30,000 tpd.

Expansion and exploration initiatives

• Mill expansion aims to boost capacity from 12,000 to 30,000 tpd, supporting production above 500,000 ounces.

• Dome deposit (11 million ounces) expected to gain value with mill expansion and updated plans in 2026.

• TVZ, a large underground deposit, to see inaugural resource estimate in 2026 after ongoing drilling.

• Aggressive exploration program underway, ramping up to 20 drill rigs and 140,000 meters, with updates expected from Q4.

• Cordero, a major undeveloped silver deposit, is progressing toward permitting and development.