Discovery Metals Limited (ASX:DML) Issue Of Equity

Discovery Metals Limited (ASX:DML) AIM RELEASE
19 August 2008
ISSUE OF SHARES


Discovery Metals Limited (AIM:DME) today issued 15,934,412 shares
issued at A$0.42 (£0.195).  This issue is the first allotment of
shares under a placement to raise AUD$8.2 million (£3.82 million)
(before expenses) from institutional and sophisticated investors in
Australia and Botswana as announced on 13 August 2008.

Further shares under the placement will be issued in due course.

The Company now has on issue 146,036,607 fully paid ordinary shares.

NOTE:    For further information contact

Brad Sampson
Managing Director
Tel: +617 3218 0200
Mobile: 0438 771 037
Email: brad@discoverymetals.com.au

Rob Adamson
RFC Corporate Finance Ltd (Nomad)
Tel: +612 9250 0000
Email: Rob.Adamson@rfc.com.au

Richard Hail
Fox-Davies Capital Ltd (AIM Broker)
Telephone: +44(0) 20 7936 5200
Email: Richard.Hail@fdcap.com



Further information on the Company is available on its website:

www.discoverymetals.com.au

---END OF MESSAGE---

Discovery Metals Limited

ISIN: AU000000DML9

Stock Identifier: AIMX.DME