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$DSCR: Discovery Provides Update on Hemp Seed Sale

www.otcmarkets.com/stock/DSCR/news

Jan 15, 2015 (ACCESSWIRE via COMTEX) -- MARINA DEL REY, CA / ACCESSWIRE / January 15, 2015 / Discovery Minerals LTD. (OTC Pink: DSCR) Discovery's joint venture partner AB AGRO has secured two potential seed purchasers for the sale of the 2014 harvested hemp seed. Currently both seed purchasers are still working their way through previous committed seed inventory. Despite the delays, both AB AGRO and Discovery anticipate a positive outcome and expect to book revenue from the sale of the harvested seed in the current quarter. Additional details will be provided as information becomes available.

AB AGRO has received notification that as of January 12, Health Canada has completed its review of AB AGRO's application for the 2015 growing season and confirmed the License. Discovery and AB AGRO are in discussions to extend their partnership into the 2015 growing season, and have already had several discussions with additional growing partners to increase overall growing acreage.

Discovery is currently in the process of finalizing the annual disclosure statement. With the completion of the annual filing, the company intends to commence the audit process of its two previous fiscal years, with the goal of becoming a fully reporting issuer. The company looks forward in 2015 to provide greater transparency to the market and most importantly its loyal and valued shareholders as the company continues to capitalize on emerging growth opportunities.

About Discovery Minerals LTD.:

Discovery Minerals Ltd., (OTC PINKSHEETS: DSCR.PK) is an acquisition and development company that targets natural resource properties through its subsidiaries. These properties fall within two primary channels, precious metals/mining and industrial hemp. Discovery subsidiaries engage in activities that include the cultivation, product development, and distribution of industrial hemp; Gold, silver and precious metals. In addition, the Company is pursuing clean tech and alternative energy investments to be integrated into these business channels.

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.

Contact Person:

Russell Smith

1-310-961-4654

[e-mail]

SOURCE: Discovery Minerals LTD.

http://www.accesswire.com/img.ashx?id=424889


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It's from MMJ Observer (Observing Marijuana Investments and News That Is Shaping The Industry)~

http://www.mmjobserver.com/discovery-minerals-ltd-otcmktsdscr-moves-forward-on-canadian-cultivation-license-renewal/3747/


From the Business Section:

Discovery Minerals Ltd (OTCMKTS:DSCR) Moves Forward On Canadian Cultivation License Renewal

Discovery Minerals Ltd (OTCMKTS:DSCR) and its joint venture partner AB Agro technologies have submitted their licensing renewal to Canadian regulators. The license will allow the company to continue the cultivation efforts of industrial hemp on Canadian soil through 2015. Canada offers a vast amount of acreage creating serious opportunities for company like Discovery Minerals They are also looking to expand on their current list of farmers to expand on the acreage available for cultivation projects. The company currently has a global reach of partners spanning as far as South Africa.

Hemp Products

The hemp plant is the source of many practical use products. Almost every part of the plant is useable in some form or manner making the yield for crops attractive. Discovery Minerals Ltd (OTCMKTS:DSCR)’s business model focuses on creating strategic partnerships to acquire more acreage. Africa is a target along with Canada as it offers an unusually high amount of procurable land prime for the cultivation of hemp. They seek to create unique and fluid relationships between growers, farmers and suppliers with the final goal of profitability. Hemp products create a unique opportunity. The company also features a focus on sustainability and renewable sources which is attractive to hemp aficionados. With the current legalization of marijuana movements in full swing, hemp has come back to public view as a valuable resource.

Precious Metals

Discovery Minerals is another branch of Discovery Minerals Ltd (OTCMKTS:DSCR) that seeks to acquire and develop entities with a focus on precious metals.The company seeks to capitalize on the precious metals markets in addition to its industrial hemp efforts. The company already has established partnerships that will assist in the profiting of gold, silver and other precious metals. Precious metals have experienced a recent decline in prices offering a ground floor pricing opportunity.

Technicals

A recent crossover of the 50 and 100 day moving averages shows solid stability in the issue. Momentum indicators continue to run neutral and indicate a long trend of accumulation. Base building is in effect and continues to be healthy.


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