Discovery Silver raises $52 million for Codero silver project 

Discovery Silver (TSX: DSV; OTCQX: DSVSF) has closed its marketed public offering of common shares of the company. The offering consisted of the sale of 43 million shares at a price of $1.20 per share.  

 Aggregate gross proceeds of the offering are approximately $51.8 million. 

The company intends to use the net proceeds from the offering to fund the continued advancement and de-risking of the Cordero project and for working capital and general corporate purposes.  

Cordero project, one of the world’s largest silver deposits, is Discovery’s flagship project. The project is located on the eastern edge of the Sierra Madre Occidental mountains in the northern part of the central Mexican silver belt, Mexico’s premier porphyry and carbonate replacement deposit district. 

The measured and indicated resource is currently 35% to 1.1 billion oz. silver-equivalent and the inferred resource grew by 40% to 119 million oz. silver-equivalent. The mineral resource estimate for Cordero was most recently updated in January 2023. This update incorporated an additional 67,800 metres of drilling for a total of 280,000 metres of drilling in 522 drill holes. 

“We are now in a very strong financial position to advance Cordero to a potential construction decision through delivering on key de-risking milestones along with our ongoing feasibility study work.” said, Tony Makuch, CEO. 

To learn more, visit www.DiscoverySilver.com.