Dr. Elena Clarici reports

ELECTRUM DISCOVERY CORP. ANNOUNCES EXPANDED COPPER GOLD TARGET AREA AND COMMENCEMENT OF TRENCHING AT TIMOK EAST

Electrum Discovery Corp. has released the results of geological mapping and commenced trenching at its Timok East copper-gold project in the Republic of Serbia. The project adjoins the Zijin's Bor copper-gold mining complex. Exploration in the region has recently increased significantly as a result of new investment and expansion of the greater-than-one-billion-tonne mine and several new discoveries in the district.

Highlights:

• Mapping identifies multiple sequences of hydrothermally altered intrusive rock with stockwork veining, correlating with anomalous copper grades in surface soils and rock chips at the Bambino target;
• Discovery of secondary copper mineralization and gossan material three kilometres north of Bambino, identified through follow-up mapping of kill-zone targets around the northwestern soil anomaly;
• Initiation of a 300-metre trenching program across the central Bambino anomaly to delineate high-grade zones to aid drill planning;
• Collection of 139 additional rock-chip samples from across the Bambino and northern anomalies.

Geological mapping and rock-chip sampling completed by Electrum's geology team have revealed zones of hydrothermally altered intrusive rocks with significant stockwork veining over a 1.5-kilometre north-northwest-striking corridor. These altered intrusive units are strongly associated with surface copper anomalies identified in soils, with an increasing density of stockwork veining corresponding to the highest-grade copper anomalies at Bambino.

Alteration assemblages vary within these units, ranging from argillic-altered felsic intrusive rocks to zones that have undergone complete textural destruction, characterized by silica recrystallization and iron-oxide gossan material with boxwork textures. These are elements that may be associated with porphyry copper styles of mineralization.

One hundred thirty-nine rock-chip samples were collected during the mapping phase. These samples will provide critical understanding of the copper and gold grade distribution across the central Bambino target and test the grade of new occurrences to the north and south.

Following its successful mapping campaign, Electrum has initiated a 300-metre trenching program across the central Bambino anomaly, with four trenches planned to crosscut intense stockwork zones exhibiting high-grade copper-in-soil geochemistry. These trenches are planned to expose significant new transects of bedrock, providing key insights into the style of mineralization and grade distribution, allowing for more efficient drill targeting.

Follow-up mapping of natural vegetation kill zones around the northwestern anomaly has uncovered secondary copper mineralization in hydrothermally altered intrusive and metasedimentary rocks, along with boxwork textures in iron-manganese, oxide-rich gossan material in both outcrops and float, three kilometres north of Bambino. The natural vegetation reduction or kill is likely related to the natural weathering of zones with sulphide minerals.

These findings indicate similar styles of alteration and mineralization as those observed at Bambino and significantly increase the strike length of the potential target, with copper mineralization now confirmed in rocks in several locations over 3.5 kilometres of strike.

Follow-up mapping and sampling of this area, at additional kill zones and in the three kilometres of unexplored strike between the two anomalies, are under way to outline any additional mineralization and highlight further targets for follow-up exploration.

Oxide staining across the rocks at Bambino is common and includes jarosite, limonite, manganese oxide, martite, malachite and azurite precipitation. The intensity of stockwork veining varies from weak (10 per cent), with a noticeable increase toward the north. These crosscutting veins range from submillimetre to two centimetres in diameter and are typically composed of quartz and iron-manganese oxides, with pervasive copper-oxide staining in some locations. Some veins display boxwork textures resulting from the oxidation of sulphides, and the presence of glassy limonite along oxidized veins also indicates original chalcopyrite veining and in situ mineralization.

Sample collection, quality assurance/quality control, preparation and analysis

Rock and soil sample locations were recorded using a Garmin hand-held GPS (Global Positioning System) with a nominal accuracy of three metres, and the location was then photographed with the labelled sample. Samples will be analyzed using a combination of four-acid digest with an AAS finish for copper and 50-gram fire assay with an AAS finish for gold analysis. Samples were submitted in batches of 40, made up of 38 samples, one CRM (certified reference material) and one blank. Samples will be prepared and analyzed at SGS Serbia and Bulgaria (with certification SRPS ISO/IEC 17025).

About Electrum Discovery Corp.

Electrum Discovery is an emerging, Canadian-based 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 Zijin's 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 ounces gold equivalent (7.1 million tonnes at 2.9 grams per tonne gold equivalent average grade); preliminary economic assessment (2021).

Electrum's management team is focused on maximizing shareholder value through the acquisition and advancement of a large portfolio of copper-gold assets while fostering sustainability, governance and knowledge transfer in the region.

Qualified person

The scientific and technical contents of this news release have been reviewed and approved by R. Michael Jones, PEng. Mr. Jones is a non-independent qualified person as defined by National Instrument 43-101 and a director of the company. He has visited the property and verified the data gathered by technically competent experienced staff by reviewing the assay certificates, the geological data and interpretation and reviewing the qualifications of the persons completing and compiling the fieldwork.

We seek Safe Harbor.