Dr. Elena Clarici reports

ELECTRUM DISCOVERY ANNOUNCES AUDIO-MAGNETOTELLURIC GEOPHYSICAL SURVEY RESULTS OVER THE CENTRAL BAMBINO ANOMALY AT THE TIMOK EAST PROJECT AND PROVIDES DRILLING UPDATE

Electrum Discovery Corp. has released the results from an audio-magnetotelluric (AMT) survey performed within the Bambino area of its 100-per-cent-owned Timok East copper-gold project in Serbia.

Highlights:

• The broadband AMT survey revealed a large-scale conductive body located 500 metres to 800 metres below the Bambino surface anomaly, dipping west, toward the Timok magmatic complex (TMC);
• Potential for a deep-seated hydrothermal fluid migration pathway or potential mineralization or alteration linked to TMC-related magmatism;
• A zone of high resistivity has been identified beneath this conductive anomaly, at depths below 1.5 kilometres; this feature potentially corresponds to a large intrusive body, which may also be driving hydrothermal systems in the area;
• Additional AMT surveys are currently being planned along with other geophysical and geochemical survey techniques plus petrology studies to enhance the understanding of the geological environment and refine deeper exploration targets at Bambino and across the broader Timok East area;
• Results from the AMT survey, coupled with preliminary geological observations from the phase 1 diamond drilling program, suggest a deeper primary hydrothermal system.

Dr. Elena Clarici, chief executive officer and president of Electrum, commented: "The AMT survey results over the Bambino area provide additional support for and strengthen our conviction of the potential of the company's Timok East project. These findings highlight the deep-seated geological architecture that likely plays a crucial role in driving and focusing mineralization at Timok East, reinforcing our confidence in the region's potential for significant copper and gold discoveries. With the support of advanced geophysical techniques like AMT, we are gaining invaluable insight into the geological setting, which will refine our exploration targets and guide our next steps."

Audio-magnetotelluric survey

Electrum engaged 3D Consulting-Geo GmbH to conduct a broadband audio-magnetotelluric survey over the Bambino area of Timok East. The survey consisted of 14 stations spaced on a nominal 750-metre grid pattern. AMT is a passive geophysical exploration technique used to map subsurface resistivity down to depths of over five kilometres by measuring natural electromagnetic fields generated by global lightning strikes and ionospheric currents.

This method produces a resistivity model of the subsurface. Conductive areas may indicate fault zones, sulphide minerals, hydrothermal alteration or conductive sedimentary sequences. Resistive anomalies may correspond with intrusive bodies, hydrothermal alteration or quartz-rich clastic rock sequences.

The AMT survey provides insights into the deep geological architecture of Timok East, enhancing the company's understanding of potential hydrothermal drivers and conduits at depth. This information is critical in the identification and enhancement of exploration targets associated with deep-seated structures, alteration cells and intrusive bodies that are linked with hydrothermal mineralization in the area.

The survey identified a significant westerly dipping conductivity high beneath the Bambino target at depths of 500 metres to 800 metres. This zone continues with increasing depth to the west into the TMC. Additionally, it continues eastward toward the surface, aligning with an unexplored ridgeline approximately 1.5 kilometres east of Bambino. This area presents a compelling target for follow-up mapping and surface geochemical analysis.

This conductive anomaly potentially highlights a deep-seated regional structure that may have provided a pathway for mineralizing fluids to move laterally out of the TMC and could be linked to a large mineralized system. Directly beneath this conductive feature, the AMT survey identified a substantial zone of higher resistivity, which may correspond to a deep-seated intrusive body, potentially acting as a separate or additional driver of hydrothermal activity in the area.

These findings reinforce the geological prospectivity for deep-seated hydrothermal systems beneath Bambino and in Electrum's Timok East licences, providing potential evidence for structural links to the TMC magmatism and potential hydrothermal drivers and migration pathways needed for significant porphyry, epithermal or skarn-style mineralization.

Following the success of the initial AMT survey, an expanded AMT survey is being planned along with other geophysical and geochemical survey techniques to further enhance the understanding of the deep geological environment and further refine exploration targets at Bambino and across the broader Timok East licence.

Drilling update

The company is pleased to provide an update on its phase 1 diamond drilling program. The program has completed the drilling of two holes for a total of 704.4 metres. Both holes drilled below surface copper-gold mineralization targeting chargeability and resistivity anomalies identified in the late 2024 HIRIP (high-resolution resistivity and induced polarization) survey (see news releases dated Oct. 30, 2024, Sept. 4, 2024, and July 3, 2024) at the Bambino Central target.

Drilling intersected varying intensities of chlorite-epidote alteration and silicification throughout both holes, along with stockwork-style quartz-calcite veining and skarn-style replacement featuring minor sulphide mineralization. These characteristics are indicative of the peripheral zones of a large hydrothermal mineral system and closely resemble the distal features of porphyry and epithermal systems in the Bor porphyry trend and skarn-type mineral deposits on the western margin of the Timok magmatic complex. Combined with the results of the AMT survey, these findings strongly suggest the presence of a deep primary exploration target, warranting further exploration.

All drill core from BC001 has been logged and sampled by Electrum's geological team, and samples are currently being analyzed by ALS Laboratories at its facilities in Loughrea, Ireland, after sample preparation at ALS's facilities in Bor, Serbia. Logging and sampling for BC002 have also been carried out by Electrum's geology team, with samples currently undergoing sample preparation at ALS's facilities in Bor, Serbia.

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 kilometers 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; Jan. 7, 2021).

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