Notice of Results

AIM RELEASE 26th November 2007 RESULTS FROM ANNUAL GENERAL MEETING OF DISCOVERY METALS LIMITED In accordance with Section 251AA of the Corporations Act (Cwlth, Australia), the following information is provided to the ASX in relation to the resolutions passed by members of Discovery Metals Limited at its Annual General Meeting held on Monday 26 November 2007. All resolutions were duly carried on a show of hands. ORDINARY RESOLUTIONS Resolution 1 - Remuneration report "That the Remuneration Report as disclosed in the Annual Directors' Report for the year ended 30 June 2007 is approved for the purposes of the Corporations Act 2001." The resolution was passed on a show of hands. The total number of proxy votes exercisable by all proxies validly appointed was 28,975,579 Instructions in respect of the proxies were: +------------------------------------------+ | Instruction | Number of Votes | Total % | |-------------+-----------------+----------| | For | 28,365,066 | 97.89% | |-------------+-----------------+----------| | Against | 400,000 | 1.38% | |-------------+-----------------+----------| | Abstain | 0 | - | |-------------+-----------------+----------| | Open | 210,513 | .73% | +------------------------------------------+ Resolution 2 - Re-election of Director, Mr Morrice Cordiner "That in accordance with the Constitution of the Company, Mr Morrice Cordiner who retires by rotation and being eligible, it is resolved that Mr Morrice Cordiner be re-elected as a Director of Discovery Metals Limited The resolution was passed on a show of hands. The total number of proxy votes exercisable by all proxies validly appointed was 28,975,579. Instructions in respect of the proxies were: +-------------------------------------------+ | Instruction | Number of Votes | Total % | |-------------+-----------------+-----------| | For | 28,765,066 | 99.27% | |-------------+-----------------+-----------| | Against | 0 | - | |-------------+-----------------+-----------| | Abstain | 0 | - | |-------------+-----------------+-----------| | Open | 210,513 | .73% | +-------------------------------------------+ Resolution 3 - Ratification of prior share placements "That, pursuant to Listing Rule 7.4 and for all other purposes, Shareholders approve and ratify the prior allotment and issue of a total of 16,643,765 fully paid ordinary shares in the capital of the Company as disclosed in the Schedule set out in the Explanatory Memorandum accompanying this Notice of Meeting". The resolution was passed on a show of hands. The total number of proxy votes exercisable by all proxies validly appointed was 28,975,579. Instructions in respect of the proxies were: +-------------------------------------------+ | Instruction | Number of Votes | Total % | |-------------+-----------------+-----------| | For | 3,369,788 | 11.63% | |-------------+-----------------+-----------| | Against | 17,500 | .06% | |-------------+-----------------+-----------| | Abstain | 25,377,778 | 87.58% | |-------------+-----------------+-----------| | Open | 210,513 | .73% | +-------------------------------------------+ Resolution 4 - Issue Of Options to Fox-Davies Capital Limited "That, in accordance with Listing Rule 7.1 and for all other purposes, Shareholders approve and authorise the grant by the Directors of 497,337unlisted options for no consideration to subscribe for ordinary shares in the Company to Fox-Davies Capital Limited or its nominee (Fox Options)( with each Fox Option to subscribe for one fully paid ordinary share in the capital of the Company at an exercise price of 36 cents per shares and with an expiry date 3 years after the issue date) and upon the terms and conditions as disclosed in the Explanatory Memorandum accompanying this Notice of Meeting". The resolution was passed on a show of hands. The total number of proxy votes exercisable by all proxies validly appointed was 28,975,579. Instructions in respect of the proxies were: +------------------------------------------+ | Instruction | Number of Votes | Total % | |-------------+-----------------+----------| | For | 28,752,566 | 99.23% | |-------------+-----------------+----------| | Against | 2,500 | .01% | |-------------+-----------------+----------| | Abstain | 0 | - | |-------------+-----------------+----------| | Open | 220,513 | .76% | +------------------------------------------+ Further information on the Company is available on its website: www.discoverymetals.com.au NOTE: For further information contact Jeremy Read Managing Director Tel: +617 3218 0202 Mobile: 0409 484322 Email: jeremy@discoverymetals.com.au Jamie Wright RFC Corporate Finance Ltd (Nomad) Tel: +618 9480 2508 Email: Jamie.Wright@rfc.com.au Richard Hail Fox-Davies Capital Ltd (AIM Broker) Telephone: +44(0) 20 7936 5200 Email: Richard.Hail@fdcap.com ---END OF MESSAGE---