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Discovery Harbour Suspends Non-Brokered Private Placement

Newsfile Corp.

Vancouver, British Columbia--(Newsfile Corp. - March 12, 2020) - Discovery Harbour Resources Corp. (TSXV: DHR) (the "Company" or "Discovery Harbour") announces that, due to the recent extraordinary downturn of global financial market conditions associated with the novel coronavirus outbreak, it is suspending the Company's non-brokered private placement (the "Offering") announced on February 3, 2020 for 30 days, during which time the Company will reassess market conditions to determine whether the Offering will continue. The Company closed the initial tranche of the Offering in the amount of $187,500 pursuant to a news release dated February 25, 2020. Management is hopeful that market conditions will stabilize over the coming weeks so that it can complete the balance of the Offering. However, Management can provide no assurance it can complete the balance of the Offering within the next 30 days given that the market downturn and events which may have caused it are beyond the Company's control.

About Discovery Harbour Resources Corp.

Discovery Harbour is a Canadian TSX Venture Exchange listed company (TSXV: DHR) focused on sourcing, exploring and developing mineral properties, with a strategic focus on gold projects, in order to enhance shareholder value. Its current focus is the Caldera low sulphidation epithermal gold project in southern Nevada.

For more information, please visit the Company's website at www.discoveryharbour.com.

ON BEHALF OF THE BOARD OF DISCOVERY HARBOUR RESOURCES CORP.

"Mark Fields"

Mark Fields
President and Chief Executive Officer
Discovery Harbour Resources Corp.
Tel: (604) 681-3170
Fax: (604) 681-3552

Disclaimer for Forward-Looking Information

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the expectations of management regarding possible future financings and TSX Venture Exchange approval. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including that: the Company may not proceed with future financings; the TSX Venture Exchange may not approve possible financings; and those additional risks set out in the Company's public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/53415