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    Headquartered in Yellowknife, Northwest Territories, GSH and its group of companies is one of the largest helicopter operators in Canada.

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    Discovery Mining Services is a mining service and expediting company serving the needs of companies operating throughout Canada.

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    Air Tindi operates a diversified fleet of fixed-wing aircraft and offers medevac equipped air services, tourism, cargo transport, charter flying and scheduled service across Canada’s north.

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    Discovery Air Defence Services is the prime supplier of Airborne Training services to the Canadian Army, Navy and Air Force.

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    Discovery Air Inc.’s Class A common voting shares and unsecured debentures trade on the Toronto Stock Exchange (symbols DA.A and DA.DB.A, respectively). 

Discovery Air Inc. Completes Sale of Fire Services Business

Toronto, ON, January 31, 2017 - Discovery Air Inc. ("Discovery Air" or the "Company") (TSX:DA.A) has completed its previously announced transaction (the "DAFS Disposition") to sell the fire services business operated by its wholly-owned subsidiary, Discovery Air Fire Services Inc. ("DAFS"), to certain affiliates of Clairvest Group Inc. ("Clairvest"). Due to a delay in obtaining certain regulatory approvals, MAG DS Corp. ("MAG"), part of the original buyer group intending to purchase the DAFS business, assigned its interest in the DAFS Disposition to certain affiliates of Clairvest, the other member of the original buyer group, in order to ensure a timely completion of the DAFS Disposition. MAG's interest in the DAFS Disposition was assigned to Clairvest pursuant to an assignment and amendment dated January 31, 2017 (the "Assignment Agreement"), of the transaction agreement (the "Transaction Agreement") dated September 8, 2016, governing the DAFS Disposition. The Assignment Agreement did not alter any of the material terms of the Transaction Agreement. 

The DAFS Disposition was previously approved by a majority of minority shareholders of the Company at the Company's special meeting of shareholders held on November 15, 2016, as well as the special independent committee of the board of directors of the Company formed in connection with the DAFS Disposition and all non-interested members of the board of directors of the Company. 

About Discovery Air 

Discovery Air is a global leader in specialty aviation services. We deliver exceptional air combat training, medevac equipped aircraft services, airborne fire services, air charter services, helicopter operations, and transport and logistics support to ensure operational readiness, health, safety and vital lifelines for our clients and the communities we serve. 

Discovery Air Fire Services Inc. currently provides, and has provided for almost three decades, aerial fire surveillance, airspace and aircraft management, and air transport services in support of the Ontario government's forest fire management program. As well, DAFS' provides court-related air transport services to a variety of provincial government agencies which operate in northwestern Ontario (carried on by DAFS' charter division, Walsten Air). 

Discovery Air's Class A common voting shares and unsecured convertible debentures trade on the Toronto Stock Exchange (symbols DA.A and DA.DB.A, respectively).

Discovery Air Inc.
Sheila Venman
Investor Relations
866-903-3247
Sheila.venman@discoveryair.com

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    Every year, residents of the Northwest Territories and Nunavut pursuing an aviation-related career in the North can each receive one of 16 $5,000 scholarships from a fund sponsored by the NWT Department of Transportation, Nunavut Department of Economic Development and Transportation, Discovery Air, Keewatin Air, North-Wright Airways, and First Air. The scholarships are offered to full-time residents of the Northwest Territories and Nunavut (two year minimum residency - a combination of continuous residency in both territories would be accepted to meet the residency requirement) pursuing full-time aviation-related studies. The studies can be related to airline or airport operations or management, aircraft maintenance, and pilot training.

    If you would like to concentrate on flying aircraft while knowing you are in the safest hands around, our team of maintainers will take care of all aspects of managing your fleet.

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    Discovery Air is committed to recruiting and retaining the best talent in aviation industry. By joining Discovery Air you will have the opportunity to participate in a unique and dynamic environment focused on growth, entrepreneurship, innovation and teamwork.

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    The Northlinx Network brings together many of the GSH Aboriginal Joint-Venture Partnerships allowing all participants to benefit from pan-territorial mega-projects requiring helicopter services in the North. Presently there are twelve partnerships operating in this profitable model around the NWT and Nunavut. On top of that, Air Tindi has an additional four Aboriginal partnerships and Discovery Mining Services has two.

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    We are committed to providing our customers with specialty aviation solutions whenever and wherever they are required. Our pilots, maintainers, logisticians and administrators operate with precision and pride in some of the most challenging environments in the world.

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    Discovery Air is committed to recruiting and retaining the best talent in aviation industry. By joining Discovery Air you will have the opportunity to participate in a unique and dynamic environment focused on growth, entrepreneurship, innovation and teamwork.