Discovery Silver (DSV) Investor Day 2026 summary

Strategic vision and growth plans

• Focus on expanding operations in Northern Ontario, especially Timmins and Chapleau, with strong government support for mining and critical minerals.

• Acquisition of Kidd Creek more than doubles the land package, unlocking synergies, infrastructure benefits, and adding copper, zinc, and silver exposure.

• Targeting to more than double gold production in Timmins to over 500,000 ounces per year, supported by Kidd acquisition and asset expansion.

• Multi-decade vision to build a mining center in Porcupine and Cordero, aiming for multi-generational operations and succession planning.

• Commitment to responsible mining, community engagement, and leveraging local expertise in Canada and Mexico.

Financial guidance and capital allocation

• 2026 production guidance set at 260,000–300,000 ounces of gold, with all-in sustaining costs (AISC) of $1,950–$2,250 per ounce.

• Sustaining capital expenditures projected at $120–$165 million and growth capital at $195–$235 million for 2026.

• Exploration budget for 2026 ranges from $55–$75 million, with 280,000 meters of drilling planned.

• Cordero project budgeted $90–$100 million in 2026, mainly for permitting and land use fees.

• Higher production and lower costs anticipated in the second half of 2026 as ramp-up at Hollinger progresses.

Exploration and resource development

• Aggressive exploration program with 280,000 meters of drilling across in-mine, near-mine, and regional targets in 2026.

• Key focus areas include Hoyle Pond (expanding S zone), Pamour (resource conversion and expansion), Dome, TVZ, and Borden.

• Ongoing studies to evaluate resuming mining at Dome, optimizing Dome Mill, and advancing TVZ, with key results expected in late 2026 and early 2027.

• Notable drilling success at Owl Creek and Pamour West, with broad and high-grade intercepts supporting resource growth.

• Dome project drilling aims for a resource update by end of 2026, with potential for underground expansion.