Discovery Metals Limited – Boseto Feasibility Study Update Zeta Infill Drilling Programme Completed

Highlights:

• Infill drilling programme at the Zeta Prospect for the Boseto Copper Project Bankable Feasibility Study (BFS) is complete. This achieves a significant milestone  supporting the BFS completion in Q1 2010

• Eighty six (86) infill diamond drill holes within the Zeta resource area have returned assays consistent with expectations and with previously reported holes

• Updated Zeta Mineral Resource Estimate is planned for completion in September 2009

• Mineralisation at Zeta remains open at depth over a strike length of more than 5 kilometres

• The September quarter’s drilling programme includes:
  Completion of Plutus and Petra infill drilling
  Strike extension drilling to the north east of Plutus
  Strike extension drilling to the south west of Petra

• Commencement of deep holes to test the underground potential at Plutus and Zeta

Zeta Infill Drilling Completed
Discovery Metals Limited announces that the infill diamond drilling programme for the Zeta Prospect for the purposes of the 100% owned Boseto Copper Project Bankable Feasibility Study (BFS) has been completed. Zeta is one of the three Prospects being drilled out as part of the BFS.

Work has now commenced on compiling a new estimate of the Mineral Resource at Zeta, which currently contains a Total Mineral Resource of 25.2 Mt @ 1.5% Cu and 20.1 g/t Ag at a cut off grade of 0.6% Cu. It is expected that this new Mineral Resource estimate will be the final Zeta Mineral Resource estimate for the BFS. This work is anticipated to be completed in September 2009.

As with all other prospects at the Boseto Copper Project, the mineralisation at Zeta remains open at depth and potential remains to extend the Zeta Prospect along the strike of the mineralisation.

Discovery Metals’ Managing Director, Mr Brad Sampson commented,” The completion of the infill drilling at Zeta represents successful delivery on yet another key milestone for the development of the Boseto Copper Project. Many of the intersections have grades higher than 2% copper and also display good silver grades”.

“Within the next few months we will have completed all of the planned infill drilling at Plutus and Petra  and be in a position to be able to announce an Ore Reserve at Boseto for the first time, as a precursor to completing the Bankable Feasibility Study”, he added.