Mr. Mark Fields reports

DISCOVERY HARBOUR ANNOUNCES PROPOSED SHARE CONSOLIDATION

Discovery Harbour Resources Corp. intends to complete a consolidation of its issued and outstanding common shares on the basis of one new share for every 10 currently outstanding shares.

It is anticipated that the Consolidation will reduce the number of outstanding shares of the Company from 94,509,294 Shares to approximately 9,450,929 Post-Consolidated Shares, subject to adjustment for rounding. The Board of Directors of the Company believes that the Consolidation will both enhance the marketability of the Company as an investment and better position the Company to raise the funds necessary to execute the Company's business plan. The Consolidation is subject to approval by the TSX Venture Exchange (the "Exchange").

The Company does not intend to change its name or its current trading symbol in connection with the proposed Consolidation. The effective date of the Consolidation will be announced in a subsequent news release, subject to approval of the Exchange.

No fractional Post-Consolidated Shares will be issued as a result of the Consolidation. Shareholders who would otherwise be entitled to receive a fraction of a Post-Consolidated Share will be rounded down to the nearest whole number of Post-Consolidated Shares and no cash consideration will be paid in respect of fractional shares.

The exercise price and number of Shares of the Company, issuable upon the exercise of outstanding options and warrants and conversion of outstanding convertible debentures, will be proportionally adjusted upon the implementation of the proposed Consolidation in accordance with the terms thereof.

By way of corporate update, on May 5, 2023, the shareholders of the Company ratified and re-approved the amended and restated 10% rolling stock option plan. The plan is a "rolling" stock option plan, whereby the maximum number of Shares that may be reserved for issuance is 10% of the issued Shares of the Company. The number of pre-Consolidation Shares issuable under the plan as of the date of this news release is 9,450,929. It is anticipated that the Consolidation will reduce this number to 945,092 Post-Consolidated Shares issuable under the plan. Options to purchase Shares may be granted to any bona fide director, employee or consultant of the Company or an Affiliate of the Company (as defined in the Exchange policies). The board of directors shall establish the exercise price at the time each option is granted, subject the Exchange policies. No option granted under the plan may have an expiry date exceed ten years from the date on which the option is granted. The Exchange requires the Company to receive shareholder approval of its "rolling" stock option plan on a yearly basis at the Company's annual meeting. Accordingly, the Company's shareholders will be asked to re-approve the plan each year. The amendments to the plan as approved by the shareholders remain subject to final approval of the Exchange.

About Discovery Harbour Resources Corp.

Discovery Harbour is focused on sourcing, exploring and developing mineral properties in mining-friendly jurisdictions.

We seek Safe Harbor.