Discovery Metals Limited (DME) – Assay Results

Encouraging Plutus Infill Drilling Confirms More Near Surface Mineralisation

Highlights

• 91 infill diamond drill holes within the existing resource envelope have returned assays that continue to confirm  the continuity and predictability of copper – silver mineralisation
• A number of holes defined shallow mineralisation near surface
• Results reinforce grade and width estimates used in the Pre-Feasibility Study Resource Models
• Results are part of the ongoing drill programme to upgrade portions of the Plutus Prospect into the Indicated Resource Category

Plutus Assay Results
Discovery Metals Limited (DME)  announces the assay results of the most  recent 91 infill diamond drill holes at the Plutus Prospect at the Company’s 100%-owned Boseto Copper Project located in north-west Botswana (Figure 1).
The Plutus Prospect currently contains an Inferred Mineral Resource of 15.9 Mt @ 1.6% Cu and 16.4 g/t Ag at a cut off grade of 0.6% Cu.
The recently upgraded total mineral resource for the Boseto Copper Project, reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code, “2004 Edition”) is:
50.2 Mt @ 1.5% Cu and 17.8 g/t Ag at a cut off grade of 0.6% Cu containing approximately 753 kt Cu metal and 29 Moz silver.

Boseto Project Background
Discovery Metals’ Boseto Copper Project (100% owned) is located in north west Botswana, approximately eighty kilometres south west of the town of Maun, within the district of Ngamiland.  A seven tenement package was granted to Discovery Metals in September 2005 and fieldwork on this tenement package commenced in October 2005.  The Government of Botswana approved the Company’s renewal of these tenements in September 2008 and all prospective areas were retained by the Company. In June 2008, Discovery Metals was granted an additional seven tenements extending from the south west boundary of the original 2005 granted tenements through to the Namibian border, adding 5,700km2 to the area held under prospecting licenses bringing the total current tenement area to 10,100km2.  The outer limit of the exploration licence area starts approximately sixty kilometres south west of Maun and stretches in a south westerly direction for approximately three hundred kilometres to the Namibian border.

The Boseto Copper Project is located within a belt of significant copper-silver mineralisation that extends from the well known and more highly developed Zambian Copper Belt across north-west Botswana and into Namibia.  The poorly explored and undeveloped portion of this belt in north-west Botswana is known as the Kalahari Copper Belt. 
Copper in the Boseto Project area, occurs predominantly in chalcocite, with minor amounts of bornite and other copper sulphides present.  At shallow depths, malachite and chrysocolla by replacement oxidation exist in significant proportions within some areas of the mineral resource. 
The total Mineral Resource for the Boseto Copper Project, reported in accordance with The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code, “2004 Edition”) at a cut off of 0.6% Cu is:
50.2 Mt @ 1.5% Cu and 17.8 g/t Ag containing 753 kt Cu metal and 29 Moz silver

A Pre- Feasibility Study for the Boseto Copper Project was completed on time and on budget in July 2008.  Discovery Metals is currently undertaking a Bankable Feasibility Study for the Boseto Copper Project.