Dr. Elena Clarici reports

ELECTRUM DISCOVERY PROVIDES SPRING EXPLORATION UPDATE AND 2025 EXPLORATION PLAN FOR TIMOK EAST PROJECT

Electrum Discovery Corp. has released results from its Q1 2025 exploration activities at the 100-per-cent-owned Timok East copper-gold project located in eastern Serbia, including the completion of the maiden phase 1 diamond drill program at the Bambino Central copper-gold anomaly target. The company is also pleased to outline its exploration strategy for the remainder of 2025.

Highlights:

• Phase 1 drilling intersected skarn and hydrothermal alteration typical of the distal zones of a fertile hydrothermal system. The presence of skarn combined with AMT survey results suggesting a deep conductive anomaly, support the potential for a deeper mineralized system.
• Additional audio-magnetotelluric (AMT) surveys, geochemical sampling and petrology studies are planned to enhance the understanding of the geological environment and refine targets across the broader Bambino area.
• Insights gained from the 2025 BHP Xplor Accelerator program, particularly a mineral systems-driven approach, are adding to the company's regional exploration strategy aimed at unlocking mineral potential.
• Regional targeting under way: Several targets are being outlined through geophysical and geological data compilation and analysis.

Dr. Elena Clarici, chief executive officer and president of Electrum, commented: "We acquired Timok East for its strategic location near one of the world's premier, yet largely underexplored, copper-gold belts. Leveraging the expertise, technological insights and mentorship from BHP's global network -- gained through our selection in January for the prestigious 2025 BHP Xplor Accelerator program -- we are focusing on the most promising areas within our land package to enhance our chances of discovery. Drilling at Bambino copper-gold anomaly has confirmed mineralization typical of a copper-gold system, providing critical geological evidence that we are operating within a metal-fertile hydrothermal system. These insights are invaluable not only for advancing Bambino but also for guiding regional exploration across Timok East."

The BHP's 2025 Xplor Accelerator program: advancing a belt-scale exploration strategy

The first three months of the BHP Xplor program have enabled Electrum to develop and deploy a dual exploration strategy:

1. A traditional junior explorer prospect-scale exploration program, while still implementing;
2. A belt-scale, mineral systems driven exploration method.

The latter approach allows the company to understand the critical geological factors that control porphyry deposit formation in the region, with the goal of expanding the known extent of the porphyry-hosting Timok magmatic complex (TMC) eastward. The importance of this approach is immense as it could reveal a previously unrecognized porphyry belt across the Timok East project.

As part of this mineral systems-based exploration strategy, Electrum's key priorities include:

• Mapping deep-seated fluid and magma pathways using deep-penetrating geophysics, structural analysis and geological modelling to better understand the evolution of mineralizing systems in the area and generate new prospective targets.
• Confirming the eastern extension of the Cretaceous-age porphyry-fertile magmatic arc, the same system that hosts the world-class Bor porphyry deposits, by integrating detailed literature reviews with lithogeochemical data, petrological studies and geochronological studies.
• Identifying hydrothermal alteration and mineralization assemblages that act as early indicators of porphyry targets, including skarn systems and high-sulphidation epithermal mineralization, which often serve as higher level expressions of deeper porphyry centres, allowing for geochemical vectoring and efficient drill targeting.

This expanded exploration strategy marks a transformational step for the company and positions Electrum to unlock the full potential of this highly prospective but underexplored world-class region.

The phase 1 drill program at Timok East

The phase 1 drill program at Timok East consisted of two diamond drill holes BC001 and BC002, for a total of 704.4 metres, designed to test chargeability and resistivity anomalies identified beneath surface copper-gold mineralization in the late-2024 HIRIP survey (news releases: July 3, 2024, Sept. 4, 2024, Oct. 30, 2024). Both drill holes encountered isolated intervals of gold, silver and copper mineralization.

• Gold: Assay results included 20 samples returning values between 0.1 to 0.5 gram per tonne Au and three samples returning values from 0.5 to 1.65 g/t Au. Gold mineralization was primarily associated with quartz-arsenic-rich shear zones and pyrite bearing stockwork zones surrounding intervals of skarn.
• Silver: Assay results included three samples returning between 10 to 109 g/t Ag. Silver mineralization was associated with anomalous copper values in both holes and correlated with intervals of skarn replacement.
• Copper: Assay results ranged from BDL (one part per million) to 3,090 ppm Cu. Mineralization was linked to chalcopyrite-bearing skarn intervals and showed an association with magnetite.

Geological interpretation

Both drill holes intersected zones of pervasive chlorite-epidote-hematite alteration, interlayered with zones of skarn replacement featuring fine to coarse-grained garnet, amphibole and localized magnetite. These features are characteristic of a distal skarn environment, possibly linked to a primary hydrothermal source. Late-stage overprinting by quartz-calcite stockwork veining with minor pyrite indicates continuing hydrothermal fluid activity beyond the primary skarn-forming phase, suggesting a prolonged, multiphase hydrothermal system.

System-scale targeting and data compilation have identified a prominent magnetic anomaly in the western part of the Makoviste licence, coinciding with phase 1 andesitic intrusive rocks at surface, shares geological and magnetic characteristics with known porphyry systems in the region. This Western Mag target, alongside the Eastern Conductive and deep resistive anomaly identified in the initial AMT survey, represent compelling targets for further exploration targeting hydrothermal centres within the broader Bambino area.

The combination of Cu-Au mineralization, skarn assemblages, overprinting vein systems, magnetic highs, as well as deep conductive and resistive AMT anomalies identified in the area, supports the potential presence of a larger, concealed mineral system at Timok East.

Timok East -- next steps

Electrum continues work on understanding the lithological, structural and genetic controls on mineralization at Timok East. Current and planned follow-up work includes:

• Additional AMT survey lines to extend coverage across the Western Mag target to define the geometry of resistive and conductive features that may be linked to concealed porphyry centres.
• Expanded surface geochemical sampling to identify any geochemically anomalous zones that correlate with the Eastern Conductor target.
• A total of 201 soil samples have been collected where the conductive zones come near to surface to investigate any associated geochemical anomalism.

Detailed geological mapping, petrology and rockchip sampling across Bambino and the Northern Skarn to refine interpretations of skarn and vein assemblages, and to identify alteration zones or mineralogical indicators that may indicate porphyry-style mineralisation across the Western Mag and Eastern Conductor targets.

These next steps aim to vector in on the primary hydrothermal driver responsible for skarn replacment on the property, to guide future targeting across the broader Timok East project area.

Core handling and logging

Drill core was systematically photographed, logged in detail and measured for magnetic susceptibility. Core was cut to provide half HQ or quarter PQ core for sampling with sample lengths of between 0.5 to 2.0 metres. Core recovery for the drill holes averaged 92 per cent. Both drill holes were sampled in their entirety.

Quality assurance/quality control (QA/QC)

All logging and sampling were carried out under control of the company's geologists. Certified reference materials (CRMs), blanks and core duplicates were inserted in the sample sequence. Samples were securely transported to ALS's facility in Bor, Serbia, for preparation using method PREP-31BY. Sample pulps were then shipped by ALS to ALS's facility in Loughrea, Republic of Ireland, for analysis using methods Au-ICP21, ME-ICP61 and ME-OG62.

QA/QC performance

Analysis values for CRMs and blanks inserted in the sample sequence were reviewed and checked by the qualified person. Blanks and CRMs were within tolerance limits and indicated no significant contamination or analytical bias. Core duplicates repeated generally within plus or minus 20 per cent relative difference which is considered sufficient for the stage of exploration.

Qualified person

The scientific and technical contents of this news release have been reviewed and approved by Thomas Sant, BSc, FGS, CGeol, EurGeol. Mr. Sant is a non-independent qualified person as defined by NI 43-101 and the vice-president, operations, of the company.

About Electrum Discovery Corp.

Electrum Discovery is an emerging mineral exploration and development company focused on the prolific Western Tethyan belt with two main projects spanning 645 square kilometres of prospective exploration ground in the Republic of Serbia.

Timok East extends over 123 square kilometres across the Timok copper-gold region and includes the recently discovered Bambino copper-gold anomaly, located less than five kilometres from the Bor copper-gold mining complex.

Novo Tlamino, located in the southeast of the Republic of Serbia, covers 522 square kilometres and includes an inferred mineral resource estimate of 670,000 oz AuEq (7.1 million tonnes at 2.9 g/t AuEq average grade), PEA (preliminary economic assessment) (Jan. 7, 2021).

Electrum Discovery is looking to maximize the value of the company's mineral projects for all stakeholders including its shareholders, the local community and government. The company has an open-door policy and encourages all stakeholders to contact it through its website. The company has a strong environmental and ethics policy to complete all its work in line with regulations in an open and transparent process. The company's projects are at an early stage, and the company plans to continue its consultation with all stakeholders in a climate of mutual respect, while fostering sustainability, governance and knowledge transfer in the region.

We seek Safe Harbor.