Discovery Announces Acquisition of Glencore’s Kidd Operations

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• Discovery's investment could result in doubling production in Timmins while creating jobs for Canadians

  80% confidence

• The Kidd Met Site would have been closed this year but with renewed confidence will be taken to the next level

  80% confidence

• There is an opportunity to reduce reclamation costs at both Porcupine and Kidd by using Porcupine waste rock and gold tailings for Kidd tailings management

  80% confidence

• The Acquisition provides important synergies that will augment current operations and delivers a large land package with tremendous exploration upside potential for copper, zinc, silver, other critical minerals and gold

  80% confidence

• Acquiring the Kidd Operations provides an opportunity to substantially increase processing and tailings capacity and supports a growth trajectory that could more than double gold production in Timmins to over half a million ounces per year

  80% confidence

• Discovery plans to deploy drills at Kidd Creek Mine and surrounding properties with substantial exploration upside to identify new mineral resources that could support future mining operations

  80% confidence

• Discovery anticipates closing of the Transaction during the first half of 2026

  80% confidence

• Discovery will continue with the current operating plan for both the Kidd Met Site and Kidd Creek Mine upon closing

  80% confidence

• This acquisition reaffirms Ontario as a reliable partner building confidence to invest and expand mines in the province

  80% confidence

• The Company intends to construct one, and possibly two, gold circuits at the Kidd Met Site to support future growth in gold production at Porcupine

  80% confidence

• Haulage costs will be reduced significantly given that Hoyle Pond and Pamour are approximately one kilometre and three kilometres from the Kidd Met Site, respectively

  80% confidence