Discovery Ventures Announces Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN OR INTO
THE UNITED STATES.


Discovery Ventures Inc. ("Discovery") (TSX VENTURE:DVN) is pleased to announce
that it has arranged a non-brokered private placement financing (the
"Financing") of up to 9,523,809 units (each, a "Unit") at a price of $0.21 per
Unit for gross proceeds of up to $2,000,000. Each Unit consists of one common
share of the Company (each, a "Share") and one share purchase warrant (each, a
"Warrant"). One Warrant entitles the holder thereof to purchase one additional
Share at a price of $0.35 per Share for a period of two years from closing of
the Financing.


All securities issued in the Financing will be subject to a statutory hold
period expiring four months and one day after closing of the Financing.
Completion of the Financing is subject to a number of conditions, including,
without limitation, receipt of all regulatory approvals, including approval of
the TSX Venture Exchange. Discovery may pay finder's fees in connection with the
Financing. 


None of the securities sold in connection with the Financing will 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
the registration requirements. This press release shall not constitute an offer
to sell or the solicitation of an offer to buy nor shall there be any sale of
the securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful.


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


Akash Patel, President and Director, Discovery Ventures Inc.

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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Discovery Ventures Inc.
Ron Birch
Investor Relations
[phone] or [phone]
Toll free: 1-800-910-7711
www.discoveryventuresinc.com