Update from Discovery Minerals LTD. $DSCR

Rhea-AI Summary

Discovery Minerals Ltd (OTC PINK:DSCR) has signed a Letter of Intent (LOI) for a mining property in Zambia, featuring two gold ore bodies along with copper and cobalt occurrences. This agreement is pending a due diligence review. The company will operate the mining activities, with reserves verified through Australian JORC Reports. Furthermore, Discovery has resolved previous miscommunications regarding its PINK status on OTC Markets and has submitted necessary updates, with verification expected soon.

Positive

• Signed LOI for a mining property in Zambia with gold, copper, and cobalt reserves.
• Discovery will operate the newly acquired mining operations.
• Reserves confirmed via Australian JORC Reports.

Negative

• Subject to full due diligence, indicating potential uncertainties.
• Forward-looking statements carry risks, including financing and regulatory approval.

LOS ANGELES, CA / ACCESSWIRE / September 28, 2021 / Discovery Minerals LTD (OTC PINK:DSCR)

Discovery has signed an LOI with a property in Zambia with the owners, containing two gold ore bodies and some copper and cobalt occurrences. This agreement is subject to a full due diligence review of the properties. Ongoing negotiations are currently being carried out as to the final details. Discovery will be the Operators of these mining operations. The gold mines have been declared as having reserves in accordance with two Australian JORC Reports.

Additionally, Discovery would like to apologize for any error or miscommunication regarding PINK status on OTC Markets. We have addressed this issue and have submitted all updated information required today. Verified and PINK status will be up and running soon.

Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.

Discovery Minerals Ltd.
+1 (310) 607-8252
Admin@discoveryminerals.com

SOURCE: Discovery Minerals Ltd.

View source version on accesswire.com:
https://www.accesswire.com/665969/Update-from-Discovery-Minerals-LTD-DSCR

FAQ

What recent agreement did Discovery Minerals (DSCR) sign?

Discovery Minerals signed a Letter of Intent for a mining property in Zambia containing gold, copper, and cobalt.

What is the status of Discovery Minerals' PINK status on OTC Markets?

Discovery Minerals has addressed previous miscommunications and submitted updates to restore its PINK status.

What are the contents of the mining property Discovery Minerals signed for?

The property contains two gold ore bodies and occurrences of copper and cobalt.

What is the significance of the Australian JORC Reports for Discovery Minerals?

The Australian JORC Reports validate the reserves of the mining property.

What are the risks mentioned in Discovery Minerals' press release?

The press release mentions risks related to forward-looking statements, including financing and regulatory approvals.