Discovery Reports Record Revenue, Strong Year-Over-Year Earnings Growth in Q2 2026

COMPLETED ACQUISITION OF KIDD OPERATIONS Creates opportunity to significantly increase processing capacity, adds valuable land and infrastructure, provides exposure to critical minerals and adds exploration upside

EXPLORATION SUCCESS AT ALL TARGETS Excellent drill results at all operations, at near-mine targets and at key growth projects; Recent results confirmed Pamour to be large-scale deposit with substantial growth potential

INVESTING TO IMPROVE AND GROW PORCUPINE Total capital expenditures (1) of $86.4M versus $44.2M in Q2 2025 and $69.9M in Q1 2026

STRONG PRODUCTION GROWTH Produced 67,309 oz of gold, 33% increase from Q2 2025 (2) and 12% higher than Q1 2026; Gold sold (3) totaled 66,068 oz vs. 42,550 oz in Q2 2025 and 59,445 oz the previous quarter

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UNIT COSTS IN LINE WITH GUIDANCE RANGES Gold operating cash costs (1) of $1,387/oz sold, gold AISC (1)(4) of $2,154/oz sold

RECORD REVENUE IN Q2 2026 Revenue of $319.1M, more than double the Q2 2025 level and 12% higher than Q1 2026

STRONG YEAR-OVER-YEAR EARNINGS GROWTH Net earnings of $52.1M, or $0.06/share, vs $5.5M, or $0.01/share, in Q2 2025 and $81.7M, $0.10/share in Q1 2026; Adjusted net earnings (3) of $92.3M, or $0.11/share, compared to $28.4M, or $0.04/share, in Q2 2025 and $82.7M, or $0.10/share in Q1 2026

STRONG FINANCIAL POSITION Total liquidity of $607.8M at June 30 th (including $364.3M of cash); Revolving credit facility (“RCF”) increased to $400 million and maturity extended to July 30, 2030 subsequent to quarter end

ON TRACK TO ACHIEVE 2026 GUIDANCE 2026 guidance includes back-half weighted production of 260 – 300 koz; operating cash costs/oz of $1,250 – $1,400 and AISC/oz of $1,950 – $2,250; sustaining capital (1) of $120M – $165M and growth capital (1) of $195M – $235M

TORONTO, Aug. 13, 2026 (GLOBE NEWSWIRE) — Discovery Mining Ltd. (TSX: DSV, OTCQX: DSVSF) (“ Discovery ” or the “ Company ”) today announced financial and operating results for the second quarter (“ Q2 2026 ”) and first half (“ YTD 2026 ”) of 2026. Results for Q2 2026 include one month of production from the Company’s Kidd Operations, which were acquired on June 1, 2026. All dollar amounts are in US dollars, unless otherwise noted.

Tony Makuch, Discovery’s CEO, commented: “Q2 2026 was a pivotal quarter as we work to substantially grow gold production in Timmins. Firstly, we accelerated our investment programs aimed at optimizing our operations and driving our growth. Capital expenditures totaled $86.4 million and focused on tailings expansion and improvement, increasing production and lowering costs at Hoyle Pond and Borden, and, very importantly, advancing Pamour towards commercial levels of production.

“Second, we continued to achieve outstanding exploration success at all operations, at near-mine targets and at our key growth projects, Dome, TVZ and Owl Creek. Post quarter end, we released very important drill results at our Pamour operation, clearly establishing it as a large-scale deposit extending over a 4 km strike length, with the deposit remaining open in several directions and to depth.