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Discovery Metals Limited (DME)

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Thursday 01 September, 2011

Discovery Metals Limited

Ghanzi Copper Licences Renewed






AIM RELEASE



                            Discovery Metals Limited

                         Ghanzi Copper Licences Renewed

                                1 September 2011



Highlights:

  * The Company's seven prospecting licences in the Ghanzi district of Botswana,
    originally granted in 2008, have been renewed for a further two years.

  * All  areas  of  interest,  within  these  prospecting  licences,  have  been
    retained.

  * Discovery  Metals  remains  the  largest  prospecting  licence holder in the
    Kalahari Copperbelt (now 8,877 square kilometres).



Commentary:

Discovery Metals Limited ('Discovery Metals' or 'Company') announces the renewal
of  its  seven  Prospecting  Licences  (PLs)  in the Ghanzi district, north-west
Botswana,  which were originally  granted in July  2008.  As part of the renewal
process,  the Company  has relinquished  some areas  that, after analysis by the
Company,  are  not  considered  to  be  prospective.  All areas applied for were
granted.   The renewed tenements  contain parts of  the Mid Kalahari exploration
zone and the entire South-west Kalahari exploration zone.

The  Company also holds an additional seven PLs, granted in October 2005, in the
Ngamiland  District (which  contains the  Boseto Mining  Licence area),  and the
overall  area now held by Discovery Metals covers 8,877 square kilometres (Table
1).

The  Company  is  committed  to  progressing  exploration  of all of the renewed
tenements.   Several  historic  prospects  and  new  and significant geochemical
anomalies,  including  possible  extensions  of  the  Hana Mining Banana Mineral
Resource  are exploration targets.  The  recently completed regional geochemical
and Heli-borne Aeromag programmes will assist the identification of targets.

Discovery  Metals'  Managing  Director,  Brad  Sampson  said  "Renewal  of these
Prospecting  Licences  is  an  important  milestone  towards our goal of finding
another  Boseto style  project to  complement the  Boseto copper  project, which
remains on schedule for commissioning in the first half of 2012."

Table 1 (below) and Figure 2 (attached) provide details of the Company's granted
tenements in the Kalahari Copperbelt.





Table 1 - Discovery Metals PLs in the Kalahari Copperbelt

+-----------+----------------+--------------+--------------+------------+------+
|           |    ORIGINAL    |  NGAMILAND   |  NGAMILAND   |GHANZI FIRST|      |
| PL NUMBER |  APPLICATION   |FIRST RENEWAL |SECOND RENEWAL|  RENEWAL   |EXPIRY|
|           |     (km2)      |    (km2)     |    (km2)     |   (km2)    |      |
+-----------+----------------+--------------+--------------+------------+------+
|Grant Date |     Oct-05     |    Oct-08    |    Oct-10    |            |      |
+-----------+----------------+--------------+--------------+------------+------+
| P98/2005  |      966       |     630      |     520      |            |Sep-12|
+-----------+----------------+--------------+--------------+------------+------+
| P99/2005  |      985       |     893      |     890      |            |Sep-12|
+-----------+----------------+--------------+--------------+------------+------+
| P100/2005 |      952       |     757      |     736      |            |Sep-12|
+-----------+----------------+--------------+--------------+------------+------+
| P101/2005 |      762       |     426      |     380      |            |Sep-12|
+-----------+----------------+--------------+--------------+------------+------+
| P102/2005 |      962       |     557      |     474      |            |Sep-12|
+-----------+----------------+--------------+--------------+------------+------+
| P103/2005 |      844       |     463      |     223      |            |Sep-12|
+-----------+----------------+--------------+--------------+------------+------+
| P104/2005 |      960       |     731      |     726      |            |Sep-12|
+-----------+----------------+--------------+--------------+------------+------+
| Sub-Total |     6,434      |    4,457     |    3,949     |            |      |
+-----------+----------------+--------------+--------------+------------+------+
|Grant Date |     Jul-08     |              |              |   Aug-11   |      |
+-----------+----------------+--------------+--------------+------------+------+
| 186/2008  |      929       |              |              |    804     |Jun-13|
+-----------+----------------+--------------+--------------+------------+------+
| 187/2008  |      951       |              |              |    894     |Jun-13|
+-----------+----------------+--------------+--------------+------------+------+
| 188/2008  |      940       |              |              |    634     |Jun-13|
+-----------+----------------+--------------+--------------+------------+------+
| 189/2008  |      444       |              |              |    271     |Jun-13|
+-----------+----------------+--------------+--------------+------------+------+
| 190/2008  |      861       |              |              |    760     |Jun-13|
+-----------+----------------+--------------+--------------+------------+------+
| 191/2008  |      944       |              |              |    927     |Jun-13|
+-----------+----------------+--------------+--------------+------------+------+
| 192/2008  |      638       |              |              |    638     |Jun-13|
+-----------+----------------+--------------+--------------+------------+------+
| Sub-Total |     5,707      |              |              |   4,928    |      |
+-----------+----------------+--------------+--------------+------------+------+
|GRAND TOTAL      12,141          10,164         9,656         8,877           |
+------------------------------------------------------------------------------+


Boseto Copper Project Mineral Resources

The total Mineral Resources at the Boseto Copper Project are shown below.

+-----------------+------------------+------------------+-------------------+
|Mineral Resources|       Zeta       | Plutus and Petra |       Total       |
+-----------------+----+-----+-------+----+-----+-------+-----+-----+-------+
|                 | Mt |Cu(%)|Ag(g/t)| Mt |Cu(%)|Ag(g/t)| Mt  |Cu(%)|Ag(g/t)|
+-----------------+----+-----+-------+----+-----+-------+-----+-----+-------+
|Measured         |4.6 | 1.6 | 23.5  |0.1 | 1.3 | 11.4  | 4.7 | 1.6 | 23.2  |
+-----------------+----+-----+-------+----+-----+-------+-----+-----+-------+
|Indicated        |12.4| 1.5 | 26.1  |11.5| 1.4 | 14.1  |23.9 | 1.5 | 20.3  |
+-----------------+----+-----+-------+----+-----+-------+-----+-----+-------+
|Subtotal M&I     |17.0| 1.5 | 25.4  |11.6| 1.4 | 14.1  |28.6 | 1.5 | 20.8  |
+-----------------+----+-----+-------+----+-----+-------+-----+-----+-------+
|Inferred         |27.1| 1.2 | 20.0  |55.8| 1.4 | 14.8  |82.9 | 1.3 | 16.5  |
+-----------------+----+-----+-------+----+-----+-------+-----+-----+-------+
|Total            |44.1| 1.3 | 22.1  |67.4| 1.4 | 14.7  |111.5| 1.4 | 17.6  |
+-----------------+----+-----+-------+----+-----+-------+-----+-----+-------+

Boseto Copper Project Mineral Resources at cut off grade of 0.6% Cu



Competent Persons Statement

The information in this report that relates to Exploration Results is based on
information compiled by Mr Fred Nhiwatiwa who is a Member of the Australasian
Institute of Mining and Metallurgy (MAusIMM).  Mr Nhiwatiwa is a full-time
employee of the Discovery Metals Ltd.  Mr Nhiwatiwa has sufficient experience
which is relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify as a
Competent Person (CP) as defined in the 2004 Edition of the "Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (The
JORC Code, 2004).
MIA Buildings under construction

The  information in  this report  as it  relates to  the Zeta,  Plutus and Petra
Mineral Resources for the Boseto Copper project was reviewed by Mr David Arnott,
who  is a  MAusIMM. Mr  Arnott is  employed fulltime  by Snowden Mining Industry
Consultants  Pty Ltd.  Mr Arnott has  sufficient experience which is relevant to
the  style of mineralisation and type of  deposit under consideration and to the
activity which he is undertaking to qualify as a CP as defined in The JORC Code,
2004.

Messrs  Nhiwatiwa  and  Arnott  consent  to  the  inclusion in the report of the
matters  based on information  provided by them  and in the  form and context in
which it appears.



Managing Director, Brad Sampson, addressing staff in Gaborone

Discovery Metals Background

Discovery  Metals is  an ASX/AIM/BSE  listed copper  exploration and development
company  focused on the emerging Kalahari Copperbelt in northwest Botswana.  The
Company  is currently  developing its  100% owned Boseto  Copper Project towards
production in the first half of 2012

The  Kalahari  Copperbelt  sediment-hosted  mineralisation  of the Boseto Copper
Project  is similar in style to the well-known and large deposits of the Central
African Copperbelt of Zambia and the Democratic Republic of the Congo.

Discovery  Metals has prospecting licences covering 8,877 km2 along the Kalahari
Copperbelt.



Further information on the Company including Mineral Resources and Ore Reserves
is available on our website: www.discoverymetals.com



Forward looking statements

This  release includes  certain statements  that may  be deemed "forward-looking
statements".   All  statements  in  this  discussion,  other  than statements of
historical facts, that address future activities and events or developments that
Discovery  Metals expects,  are forward-looking  statements.  Although Discovery
Metals  believes the  expectations expressed  in such forward-looking statements
are  based  on  reasonable  assumptions,  such  statements are not guarantees of
future performance and actual results or developments may differ materially from
those  in  the  forward-looking  statements.   Factors  that  could cause actual
results  to differ materially  from those in  forward-looking statements include
market  prices,  continued  availability  of  capital and financing, and general
economic,  market or business conditions.  Investors are cautioned that any such
statements  are not guarantees of future  performance and that actual results or
developments  may  differ  materially  from  those  projected in forward-looking
statements.



For further information contact:


Discovery Metals Limited

Brad Sampson

Managing Director

Tel: +617 3218 0200


Fairfax I.S. PLC

Ewan Leggat / Laura Littley

Tel: +44 (0)20 7598 5368


Tavistock

Jos Simson/Emily Fenton

Tel: +44 (0) 207 9203150

Mobile: +44 (0)7899 870 450


Further information on the Company is available on its website:
www.discoverymetals.com.au







This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
    
Source: Discovery Metals Limited via Thomson Reuters ONE

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