Discovery Ventures Inc. Announces Further Increase to Its Offering

VANCOUVER, 12/05/12 - Discovery Ventures Inc. ("Discovery" or the "Company") (TSX VENTURE: DVN) The Company is pleased to announce that due to high interest in its private placement, it is further increasing the amount offered from the increased amount announced December 3rd of up to 8,818,000 units to up to 9,568,000 units effective December 4, 2012. The price of $0.25 per unit and other terms of the offering will remain the same with each unit comprising of one common share and one share purchase warrant with an exercise term of 5 years along the pricing schedule as indicated below. As with the original offering, a finder's fee of a combination of cash, shares and/or warrants may be paid to eligible finders in relation to this financing, all in accordance with regulatory policies. The increase in the private placement is subject to approval by the TSX Venture Exchange. The Company intends to use the proceeds of the offering towards general working capital and its exploration projects.

The Company further wishes to announce that it has closed the 1st tranche of the private placement consisting of 7,108,000 units for an aggregate gross raised amount of $1,777,000. The Company's news release of November 26, 2012 announced the original offering of up to 8,000,000 units at $0.25 per unit, where each unit consists of one common share of the Company and one share purchase warrant with a 5 year term at the exercise price of $0.35 per common share in the first year, $0.40 per common share in the second year and $0.45 per common share from the third to fifth year. The hold period expiry date in respect of the shares comprising the units and the shares issued upon exercise of the shares purchase warrants related to the 1st tranche is April 1, 2013. In connection with the closing of the 1st tranche, finders received an aggregate of $165,650 and 622,600 compensation warrants.


About Discovery Ventures Inc.

Discovery Ventures' mission is to explore for and develop gold, silver, and copper mineral deposits in the province of British Columbia, Canada. The Company is currently focused on four core assets including the Willa deposit located 8km south of Silverton in the Slocan mining region; Redbird/Rabbitt claims located in southern British Columbia in the Similkameen Mining Division; The Bralorne claims located in southern British Columbia in the Lillooet Mining Division who's mining camp historic gold production totalled 4.15 million ounces of gold from 52 separate veins; and the Big Creek property located approximately 47 kilometres north east of the Taseko Mines Prosperity Porphyry copper deposit.

If you would like to be added to Discovery's news distribution list, please send your email address to info@discoveryventuresinc.com or visit our website located at www.discoveryventuresinc.com.


AKASH PATEL
President



This press release contains projections and forward-looking information that involves various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of Discovery such as the statement that the closing of the Agreement may occur and that the option may be exercised. There are numerous risks and uncertainties that could cause actual results and Discovery's plans and objectives to differ materially from those expressed in the forward-looking information, including the inability to obtain exchange approval or inability to close the agreement for any reason. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice.

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



Contacts:

Discovery Ventures Inc.
Akash Patel, President
1-604-818-1706
info@discoveryventuresinc.com
www.discoveryventuresinc.com