Discovery Silver (DSV) 2025 Precious Metals Summit - Beaver Creek summary

Strategic acquisitions and operational performance

• Acquired Porcupine gold assets in Timmins, Ontario, from Newmont, closing in April 2026.

• Reported strong Q1 operational performance and significant free cash flow as a new gold producer.

• Market response to the acquisition has been strong, with current valuation at a discount to peers.

• Baseline scenario net present value estimated at $2.5–$3.5 billion.

• Production rate for 2026 projected at 200,000 ounces, with growth to over 300,000 ounces as Pamour ramps up.

Key value drivers and growth opportunities

• Five value drivers: operational upside at Hoyle Pond, Borden, Pamour; Dome resource; TVZ deposit; aggressive exploration; and Cordero silver project.

• Hoyle Pond and Borden mining rates targeted for significant increases through de-bottlenecking and ventilation investment.

• Dome mill expansion planned to increase capacity from 12,000 to 30,000 tonnes per day.

• Dome's 11 million ounce resource expected to gain value with mill expansion and updated plans in 2026.

• TVZ deposit to see inaugural resource estimate in 2026 after ongoing drilling and rehabilitation.

Exploration and project pipeline

• Aggressive exploration program underway, ramping up to 20 drill rigs and 140,000 meters, with first results expected Q4 2026.

• Large land packages in Timmins and Borden, both historically underexplored.

• Cordero, a major undeveloped silver deposit, has an NPV of $2.5 billion at $35/oz silver, with permitting expected by year-end.

• Cordero is an open pit project with strong social license and environmental plans, including recycled water use.