DVN

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN OR INTO
THE UNITED STATES


Discovery Ventures Inc. ("Discovery" or "Company") (TSX VENTURE:DVN) is pleased
to announce that it has entered into a non-binding term sheet with a third party
(the "Lender") whereby, subject to the entry into a definitive binding
agreement, the Lender has agreed to provide a $12,000,000 (the "Principal
Amount") senior secured term debt facility to Discovery (the "Facility"). The
Facility will be provided in two tranches with $5,000,000 (the "First Tranche")
available on the execution of the definitive agreement (the "Effective Date")
and $7,000,000 (the "Second Tranche") available upon the achievement of certain
milestones, including Discovery completing one or more transactions or
arrangements to generate aggregate proceeds of not less than $5,000,000,
Discovery obtaining receipt of all government permits, authorizations and
similar documentation to commence production at its Willa Deposit and the Max
Mill facility, and the completion of the refurbishment of the Max Mill such that
processing of material from its Willa Deposit may commence. 


The Facility matures 24 months from the Effective Date and will accrue interest
at a rate of 12.5% per annum. A 5% annual rollover fee on the Principal Amount
is payable on maturity for each 12 month period that the Facility is outstanding
and a 2% structuring fee on the Principal Amount is payable on the Effective
Date. Discovery has agreed to grant the Lender a right of first refusal for any
subsequent non-equity financing transaction(s) that may occur before the
maturity date of the Facility. Discovery must complete an equity financing (the
"Equity Financing") for gross proceeds of at least $2,500,000 on or before the
Effective Date. On the Effective Date, Discovery must issue to the Lender:
5,000,000 of its common shares (each, a "Share") and 5,000,000 warrants, with
each warrant entitling the Lender to purchase an additional 5,000,000 Shares for
a period of three years on the same terms as the Equity Financing. 


BayFront Capital Partners Ltd. acted as the sole financial advisor in connection
with the Facility and as the sole agent for the proposed Equity Financing.


Discovery anticipates that it will use the First Tranche to complete the
acquisition of FortyTwo Metals Inc., a wholly-owned subsidiary of Roca Mines
Inc., as previously announced, and the balance for permitting and the
refurbishment of the Max Mill. Discovery anticipates that it will use the Second
Tranche towards the development of its Willa Deposit.


Discovery is also pleased to announce that over the next quarter, the Company
anticipates strategic restructuring of both its management team and board of
directors. The changes are expected to add significant leadership, technical
expertise and experience to the senior management team, allowing the
maximization of the consolidated value of the Willa Project and the
infrastructure at the Max Mining Complex.


The Company's President, Akash Patel, commented: "We look forward to the
completion of this financing and the announcement of key personnel as major
milestones for the Company."


If you would like to be added to Discovery's news distribution list, please send
your email address to info@discoveryventuresinc.com or visit our website located
at www.discoveryventuresinc.com.


Akash Patel, President and Director 

Discovery Ventures Inc.

Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as
that term is defined in the policies of the TSX Venture Exchange Inc.) accepts
responsibility for the adequacy or accuracy of this press release.


This press release contains forward-looking information that involve various
risks and uncertainties regarding future events. Such forward-looking
information can include without limitation statements based on current
expectations involving a number of risks and uncertainties and are not
guarantees of future performance of the Discovery, such as the terms of the
financing in the term sheet and the use of proceeds from the Facility. There are
numerous risks and uncertainties that could cause actual results and Discovery's
plans and objectives to differ materially from those expressed in the
forward-looking information, including: (i) adverse market conditions; (ii)
risks inherent in the mineral exploration industry in general; (iii) the ability
of Discovery to exercise one or more stages of the option; (iv) inability of
Discovery to complete an equity raise of $2,500,000; (v) the inability of
Discovery to enter into a definitive agreement with the Lender; or (vi) the TSX
Venture Exchange not approving the Facility or the equity financing. Actual
results and future events could differ materially from those anticipated in such
information. These and all subsequent written and oral forward-looking
information are based on estimates and opinions of management on the dates they
are made and are expressly qualified in their entirety by this notice. Except as
required by law, Discovery does not intend to update these forward-looking
statements.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Discovery Ventures Inc.
(604)-818-1706


Investor Relations: Ron Birch
(250)-545-0383
Toll free: 1-800-910-7711

Grafico Azioni Discovery Ventures Inc. (TSXV:DVN)
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