Discovery Metals Limited (ASX:DML) Issue Of Equity

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


Discovery Metals Limited (AIM:DME) today issued a total of 4,071,428
new shares as follows:.


  * 3,571,428 new shares were issued at A$0.42, the final allotment
    under a placement to raise AUD$8.2 million (before expenses) from
    institutional and sophisticated investors in Australia and
    Botswana as announced on 13 August 2008.
  * 500,000 new shares resulting from the exercise of options at 30
    cents each.

 The Company now has on issue 150,108,035 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