The net proceeds of the Offering will be used for working capital purposes at the Company’s Relief Canyon mine as that operation proceeds towards full production, development and exploration at the Company’s 60%-owned Galena Complex, care and maintenance at the Company’s Cosalá Operations, general corporate and administrative expenses, repayment of outstanding debt obligations, and working capital purposes.

“2021 will represent a significant increase in our exploration efforts with a planned record of 90,000 metres of drilling representing a $13 million investment. Our key objectives will be to continue to extend the Tucano open pit mine life, further prove up the underground with a view to extending the high-grade zones, and make meaningful inroads into key targets in the expansive Tucano regional land package. Building on our 2020 exploration success in Mexico will also be a key focus for this year.”

In Mexico: The Fenix Feasibility study, that envisions a gold and silver mine with a 9.5-year life, will be published by February 15th. The project is turn-key with permits in hand, as well as an established local workforce.

The COVID-19 situation in Mexico continues to deteriorate and with the health and safety of employees and contractors of paramount importance, Azure has placed all projects on care and maintenance until the situation improves.

The Plomosas Plant Refurbishment Project commenced on December 31 and operations were impacted by lower-than-expected operator and equipment availability.

The Company announces the appointment of David R. Gunning, P.Eng., as a Director of Orex effective immediately. Mr. Gunning is a graduate mining engineer with 40 years’ experience in the mining industry. His experience includes exploration, operations, and consulting.

Vizsla Resources Corp. is pleased to announce the promotion of Charles Funk to the role of Technical Director and Martin Dupuis to Vice President of Technical Services and the appointment of Hernando Rueda as Vizsla’s Country Manager.

Discovery President and CEO Taj Singh commented: “Discovery is very pleased to be part of the OTCQX Best 50 and it is a fitting recognition of the efforts of our local employees and contractors in delivering an excellent 2020.”