Discovery Harbour Announces Private Placement

/NOT FOR DISSEMINATION IN THE UNITED STATES OR OVER THE UNITED STATES NEWSWIRE SERVICES./

VANCOUVER, Aug. 22, 2013 /CNW/ - Discovery Harbour Resources Corp. (TSXV:DHR) ("Discovery" or the "Company") announces a non-brokered private placement to raise gross proceeds of up to $1,200,000 through the issuance of up to 12,000,000 units at $0.10 per unit. Each unit is comprised of one common share and one non-transferable common share purchase warrant. Each warrant is exercisable into one warrant share at an exercise price of $0.20 for two years from the closing of the private placement. In the event the volume weighted average trading price of the Company's shares is above $0.30 for 20 consecutive trading days, the Company may provide notice to the warrant holders to exercise their warrants within 30 days or the warrants will expire.

An insider of Discovery will subscribe for most of the units pursuant to the private placement, and such subscription by the insider will result in that shareholder holding the largest single share position in the Company.

All of the securities issued in connection with this private placement will be subject to a hold period expiring four months and one day after the closing of the private placement.

Proceeds from the private placement are expected to be used to fund exploration and development of Discovery's Wabassi Project and for general working capital purposes. The private placement is subject to approval of the TSX Venture Exchange.

ON BEHALF OF THE BOARD OF DISCOVERY HARBOUR RESOURCES CORP.

"Ian Graham"

Ian Graham
President, CEO, Corporate Secretary and Director

This news release is not an offer of securities of the Company for sale in the United States. The above described issuances of securities of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration. This news release shall not constitute an offer to sell or solicitation of an offer to buy nor shall there by any sale of the above described securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Disclaimer for Forward-Looking Information

Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" occur. Forward-looking information in this press release includes, but is not limited to, statements regarding expectations of management regarding the issuance of units pursuant to the private placement, the identity of the subscribers under the private placement, the proposed use of proceeds and regulatory approval. Although the Company believes that the expectations reflected in the forward-looking information are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements including, without limitation, the risks that the private placement may not be completed as expected or at all, that insiders may not subscribe for units pursuant to the private placement, that the TSX Venture Exchange may not approve the private placement and such other factors beyong the control of the Company. Except as required by law, the Company expressly disclaims any obligation, and does not intend, to update any forward-looking statements or forward-looking information in this news release.

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

SOURCE Discovery Harbour Resources Corp.