Discovery Metals Limited

Discovery Metals is a near-term producer focused on developing its major asset, the Boseto Copper Project (100% owned) in north-west Botswana. With production commencing in the first half of 2012 at Boseto, the Company is also evaluating considerable expansion opportunities. Discovery Metals is creating further shareholder wealth through the continued development of and exploration around Boseto. Boseto is a long life mine with an initial evaluated mine life of 15 years. This delivered a project IRR of 32% (at US$3 per pound for copper and US$17 per ounce for silver) and Discovery Metals is currently developing a plan to increase the life of the mine to 25 years and increase copper production from 36,000 to 50,000 tonnes per annum.