Discovery Mining Ltd. has intersected high-grade gold mineralization across its Porcupine Complex in Timmins, Ontario, with a standout intercept of 278.48 grams per tonne (gpt) gold over 1.1 metres recorded at the Dome project. The results form part of a 55-hole drilling campaign completed between the final quarter of 2025 and the second quarter of 2026, aimed at expanding mineralization and supporting upcoming resource estimates.

At the Dome project, the high-grade intercept was retrieved from a quartz vein structure near the northeast limit of the current resource pit. Further drilling in the north portion of the property, conducted below the wall of the resource pit, returned 9.09 gpt gold over 17.3 metres, including a sub-interval of 14.76 gpt over 7.8 metres.

Exploration at the TVZ project, part of the Hoyle Pond Complex, also yielded significant results, including 5.65 gpt gold over 30.5 metres and 5.73 gpt over 23.2 metres. These intercepts are being integrated into updated geological models, with samples currently undergoing metallurgical testing.

“The excellent drilling results we are announcing today are extremely encouraging as we work towards releasing NI 43-101 resource estimates at Dome and TVZ before the end of 2026, and further advancing Owl Creek.”

— Tony Makuch, CEO

At the Owl Creek project, Discovery has commenced construction of a 1.5-kilometre exploration ramp from the Hoyle Pond Mine. This development is intended to facilitate more intensive drilling along the Hoyle Pond – Owl Creek Trend. Recent drilling here returned 7.09 gpt gold over 17.0 metres.

Discovery aims to double its annual gold production by integrating the Porcupine Complex assets with the recently acquired Kidd Metallurgical Site. The company plans to process material from several sources at this facility, including the conversion of circuits to handle refractory mineralization from TVZ.

“These are three critical growth projects that, collectively, could contribute between a quarter and half a million ounces of annual gold production.”

— Tony Makuch, CEO

Discovery Mining is currently trading at $10.23, up 7.57% on 05 August 2026 following the release of these results. Updated NI 43-101 mineral resource estimates for both the Dome and TVZ projects remain on track for delivery in late 2026.

Read the full announcement: Discovery Reports Positive Drill Results at Key Growth Projects, Resource Estimates for Dome and TVZ on Track for Late 2026