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Monday, 02/10/2020 11:41:33 AM

Monday, February 10, 2020 11:41:33 AM

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Management releases news regarding further results of drilling on Nevada project.Shareholders should read full report.
Discovery Harbour Resources Corp. has provided further descriptions of specific areas on the Caldera gold project in Nevada, including three new priority targets. The Company is in the process of integrating the recently released detailed soil sampling results with historical data, including shallow drilling, rock sampling, mapping and structural data, to evaluate and prioritize targets for the drill program planned for this year. The Company has identified three new targets in the Darius Area, bringing the total to 33 prioritized targets that are being considered for drilling in eight separate Areas, lying within the 30 square kilometer project area. These targets have been systematically ranked with the current data in the context of a high grade - low sulphidation epithermal gold model. Discovery Harbour will focus on high grade gold-silver targets that management interprets to lie in the 300 to 500m depth interval.
Eight Areas
The Company has described the eight Areas throughout the 30 square km Caldera property (See Figure 1, also the Company's January 8, 2020 news release). Today's news release provides specific descriptions of the Calista, Darius and Electra Areas, which contain 13 separate targets.
Calista Area

The Calista Area contains three vein target trends, oriented northwest at 300degree strike, defined by historic prospecting pits, underground workings and multi-gram gold in surface samples. The structure extends in excess of 1.5km. Historical shallow drilling (10 holes, ranging in vertical depth from 104 m to 194 m) in this Area intersected anomalous gold, but the structures remain largely untested. The Calista Area structures are strongly developed with a long strike extent, significant alteration, and associated high grade rock samples. The shallow drilling along one structure demonstrates there is consistent low grade gold mineralization that Discovery Harbour interprets to lie structurally above a bonanza zone at depth. These various attributes strengthen Discovery Harbour's conviction that deep drilling is required to test the high grade potential of this zone.Darius Area

The Darius Area now contains three new targets, for a total of eight targets. There are a number of structural trends that, in contrast to the Calista Area, trend more northerly at approximately 340 degrees. While the Darius Area contains numerous multi gram gold rock samples including 17 g/t gold and 11 g/t gold in two separate locations, there has only been minimal drilling on three of the targets.

An outcome of Discovery Harbour's continuing data compilation and integration are three new targets in the Darius Area. One has been identified by the recognition of a poorly exposed trend of vein float containing bladed silica after calcite situated near the valley bottom that follows a similar 340 degree trend. The bladed habit corresponding with the lower elevation supports the epithermal model with a bonanza gold zone lying at depth. The second new target includes a rock sample of 17g/t gold associated with a prominent structural trend supported by a gold in soil anomaly and has not been tested by the historic drilling. The third new target is based on a rock sample of altered tuff grading 11 g/t gold where historical shallow drilling intersected 3.1 g/t gold over 3 metres.

Phase 1 of the detailed soil sampling program (see January 21, 2020 news release) covered the southern two thirds of the Darius Area and outlined multi-element anomalies including gold, silver, arsenic, antimony and mercury. Coherent anomalies, extending over a distance of 1500m, defined by >25 parts per billion ("ppb") Au and >50 ppb Au coincide with the identified structures. A parallel > 50 ppb Au in soil anomaly, over 1000m in length, lies further east and coincides with the distribution of bladed silica after calcite. The very limited drilling in the bladed silica area highlights this as a compelling new target.

Electra Area

The Electra Area contains two targets and is highlighted by well developed quartz veins that are exposed in historic workings and in outcrops along a prominent ridge. Historic drill hole EG-26, which appears to have been drilled subparallel to this vein possibly failing to intersect it, still intersected 6.1 metres grading 2.33 g/t gold from 65.1 to 71.2 metres. Other historical shallow drill holes also failed to adequately test the vein structures.

Phase 1 of the detailed soil sampling program (see January 21, 2020 news release) covered this Area and again successfully outlined multi-element anomalies including, silver, arsenic, antimony and mercury. Associated gold anomalies indicate favourable potential to the southeast beyond the current areas of known mineralization.

The 100% Discovery Harbour-optioned Caldera Property was generated by Don Merrick and John Zimmerman of Genesis Gold Corporation, a private Utah company specializing in gold exploration in the Western United States, the foundation of which are the claims first staked by Zsolt Rosta.

Mark Fields, P.Geo., is the Qualified Person for Discovery Harbour as defined in NI 43-101 and has reviewed and approved the technical contents of this news release.

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