Dr. Elena Clarici reports

ELECTRUM DISCOVERY CORP. ANNOUNCES START OF DRILLING AT ITS TIMOK EAST PROJECT

Electrum Discovery Corp. has commenced its maiden diamond drill program at the Timok East copper-gold project in eastern Serbia. The program principally aims to test priority geological, geochemical and geophysical targets defined at the Bambino Central copper-gold anomaly, located less than four kilometres east from Zijin Mining's Bor mining complex.

The initial phase comprises up to 1,000 metres of drilling, with an additional 1,000 metres contingent on the results of the first phase.

Highlights:

• The phase 1, 1,000-metre diamond drilling program targeting Bambino Central has commenced.
• The maiden drill program aims to test the potential downdip extensions of copper mineralization identified on surface at Bambino Central and refine additional drill targets to depth across Bambino.
• The first drill hole, BP001, is designed to test the strongest chargeability anomaly beneath surface copper anomalism across the southern portion of Bambino Central.
• The second hole, BP002, will be drilled in the central portion of Bambino Central, targeting the near-surface downdip extensions of copper-mineralized quartz-limonite stockwork.
• Emerging district: The Timok East project is located adjacent to the Timok magmatic complex, which hosts several operating copper and copper-gold mines and exploration projects held by major mining companies including Zijin Mining and Dundee Precious Metals.

Dr. Elena Clarici, chief executive officer and president of Electrum, commented: "We are thrilled to move into the next stage of exploration and to start our maiden drilling campaign at the Bambino Central zone of the Timok East project. Initial soil and rock-chip sampling, trenching, and ground geophysics have all pointed to a strong anomaly in the southern part of Timok East and drilling is the natural next step. Drilling Bambino is the first step in the broader exploration program and will provide further understanding of the largely untested 123 square kilometres Timok East project."

The Timok East project is located on the eastern margin of the Timok magmatic complex (TMC), a world-class copper-gold district located in the Republic of Serbia. In recent times, the TMC region has seen and continues to see significant new exploration, discoveries and investment. The Timok East project consists of three licences -- Bukova Glava, Luka and Makoviste -- and covers approximately 123 square kilometres. Work to date was entirely focused on the Makoviste licence, where the Bambino anomaly was outlined in 2024 (see news release dated May 8, 2024).

Bambino Central, the most advanced target at Timok East, spans 550 metres of strike and features highly anomalous surface copper and gold geochemistry supported by positive trenching results, with underlying chargeability and resistivity anomalies at depth. It lies within the 1.8-kilometre Bambino copper and gold anomaly, within which Electrum has identified additional target areas (Bambino 1, Bambino 2, Bambino 3 and Bambino 4), with significant copper and gold anomalies identified from soil and rock-chip samples.

Drill program summary

An initial 1,000-metre diamond drill program is planned at Bambino Central, followed by an additional 1,000 metres contingent on the results of the first phase. The program is primarily aimed at gaining insights into the subsurface geological environment, with a focus on evaluating potential downdip extensions of copper-gold-bearing quartz-limonite stockwork mineralization identified at surface across Bambino Central and identifying evidence for the potential presence of a large hydrothermal system at depth. This drilling will be guided by chargeability-high and resistivity-high anomalies identified beneath Bambino Central in the high-resolution induced polarization (HIRIP) survey.

The first of the two planned drill holes, BP001, is designed to test the strongest chargeability anomaly beneath surface copper anomalism across the southern portion of Bambino Central. Drilling from east to west also targets a deeper resistivity-high anomaly at approximately 250-metre depth, which may correspond with increased silicification, potentially linked to the outer margins of an underlying hydrothermal system.

The second hole, BP002, will be drilled in the central portion of Bambino Central, targeting the near-surface, downdip extensions of copper mineralized quartz-limonite stockwork that has been mapped and trenched at surface and resistivity-high anomalies identified at depth. Subsequent drill hole location and orientations will be adjusted based on initial geological interpretations from these holes, ensuring maximum targeting efficiency.

This initial phase of drilling will advance the understanding of potential mineralization styles at Bambino Central and will add significantly to the geological understanding of the Bambino prospect. In conjunction with planned geophysical surveys, the data generated during drilling will support continuing exploration efforts to refine additional drill targets within the northern and southern Bambino extensions, deep targets at Bambino, and define high-priority targets throughout the broader Timok East project area.

Drilling is being conducted by Drillex International DOO, utilizing a Cortech CSD1300 track-mounted diamond drill rig capable of angled drilling to depths exceeding 500 metres.

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 National Instrument 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 ounces gold equivalent (7.1 million tonnes at 2.9 grams per tonne gold equivalent average grade) (see preliminary economic assessment dated Jan. 7, 2021).

Electrum Discovery is looking to maximize the value of its mineral projects for all stakeholders, including its shareholders and the local community and government. Electrum Discovery has an open-door policy and encourage all stakeholders to contact the company through its website. Electrum Discovery has a strong environmental and ethics policy to complete all its work in line with regulations in an open and transparent process. Electrum Discovery'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.

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