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Tuesday, 11/12/2019 9:09:36 AM

Tuesday, November 12, 2019 9:09:36 AM

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Finally a definitive report on the Nevada property. Encouraging findings to be developed

' (TSXV: DHR) ("Discovery Harbour" or the "Company") is pleased to announce progress on the analysis of historic and recent work at its 100% optioned Caldera Gold Project in southern Nevada. Two new targets have been refined, to be assessed among the 30 ranked targets in the upcoming detailed soil sampling program. The detailed soils program data will inform drill targeting for Discovery Harbour's first drilling campaign at Caldera, planned for mid-2020.

Located at the junction of the prolific Northumberland and Walker Land gold belts in southern Nevada, the Caldera gold project covers over 30 square kilometres and hosts low-sulphidation epithermal-style gold and pathfinder mineralization over a significant area measuring approximately 6 km by 2.5 km. Discovery Harbour will be the first company to test Caldera's potential for the discovery of bonanza gold grades based on the low-sulphidation epithermal gold model.

Data Compilation Advances

The Company continues to compile results from past operators including data from geochemical and geophysical surveys, drill programs and structural models. Together with results collected from its own fieldwork, discrete data sets are being integrated into a comprehensive three-dimensional model with the application of modern investigative methodologies and techniques.

Mark Fields, Discovery Harbour's President and CEO states, "We're seeing more and more evidence that past operators were not focused on the bonanza grade epithermal gold potential that the Caldera project provides. Major discoveries in the 21st Century will be made from the application of new thinking and technology to historic projects. All the evidence at Caldera points to a preserved bonanza-grade epithermal gold system at depth and we look forward to testing it in 2020."

A weights-of-evidence approach has been used to rank a subset of the most prospective drill targets. Certain of these targets were chosen on the basis of high-grade gold occurrences at or near surface. These include gold in soils and chip samples up to 193 grams per tonne gold (g/t Au), and shallow drill intercepts including 8.33 g/t Au over 7.6 metres, and 37.92 g/t Au over 3 metres, which are interpreted by the Company to be expressions of a bonanza gold/silver zone at depth.

New Priority Targets Identified

A number of targets have been selected on the basis of structural features or the widespread presence of pathfinder elements and mineral textures predictive of high-grade gold mineralization at depth. Two such priority targets have been further refined, with both zones indicating some of the most complete signs of low-sulphidation gold epithermal zonation to date. The first target is 1 km west-southwest of the historic Golden King Mine workings and integrates rock-chip assays with clay alteration development, and coincident colour and geochemical soil anomalies. The second target is approximately 7 km west of Golden King and has similar geology. Both targets have been tested by drilling which was too shallow to intersect the predicted bonanza gold zone at depth.

For Target 2019-1, the kaolinite, jarosite and gypsum noted in Discovery Harbour's sample Cld201710-08 is associated within a large jarositic gossan with lacustrine sediments and could indicate near-surface advanced argillic alteration near an up-flow zone. This potential near surface manifestation of a deeper target is further supported by the presence of a coincident antimony-mercury-arsenic geochemical soil anomaly. This area also corresponds with a distinctive colour anomaly and may be considered for expanding the imminent soils program currently being planned.

At Target 2019-2, the geology is comprised of rhyolite crystal tuffs dacite/latites and distinctive felsic ash tuffs that are pervasively silicified, with local strong opaline silica and fossilized plant fragments. Shallow level and above groundwater table (acid sulphate) conditions are suggested by the significant amount of chalcedony and opal. A linear zone of tectonic-hydrothermal breccia with some minor silicification of the matrix cuts the silicified ash. Irregular low temperature massive to botryoidal chalcedony veins and stringers are common in the felsic tuffs. The silicification, opaline silica and fossilized fragments suggest a maar/volcanic lake-type setting and the existence of a paleosurface. The breccia zone indicates post-syn silicification faulting and a dynamic environment favourable for mineralization.

Previously, Kennecott Exploration outlined low level gold-arsenic-mercury soil geochemical anomalies in the area of Target 2019-2. Argillic alteration and strong Fe-oxide colour anomalies lie in the recessive areas on the east side of the main outcrop area.

On both targets, preliminary clay mineral determinations on 8 of 11 rock samples indicate the presence of the temperature sensitive clay, montmorillonite in the absence of illite, suggesting temperatures below (too shallow) levels considered optimal for gold deposition.

Soil Sampling Program to Begin in November

Discovery Harbour is also pleased to announce it has submitted a Notice of Intent to Conduct Mineral Exploration Activities with the US Forest Service and engaged a field crew to complete its detailed soil sampling program.

This program will primarily target widespread pathfinder elements, providing closer spacing and more complete sampling analysis than previous reconnaissance soil grids as well as targets identified using Discovery Harbour's compilation of all previous work. Mercury, antimony and arsenic-rich zones represent leakage from the deeper feeder zone and provide an important drill targeting tool for the scheduled mid-2020 drill program. Previous shallow drilling by other operators has returned results such as 3 metres grading 37.92 g/t Au between 102 and 105 metres (deepest hole on the property) and 1.5 metres grading 32.88 g/t Au from 44 metres to end of hole. Discovery Harbour intends to target mineralization starting at 300 metres of depth, in the boiling zone of the low-sulphidation epithermal gold system at Caldera."

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