Dr. Elena Clarici reports

ELECTRUM DISCOVERY LAUNCHES SPRING 2025 FIELD PROGRAM AND CONFIRMS EXTENSION TO SURFACE COPPER MINERALIZATION AT TIMOK EAST

Electrum Discovery Corp. has provided an update on the coming launch of its spring 2025 field program at the Timok East copper-gold project, located in eastern Serbia. The planned program is designed to refine high-priority targets through a combination of detailed geological mapping, geophysical surveys, geochemical sampling and petrological studies.

Additionally, the company is pleased to report that it has received the assay results from rock-chip sampling at the Northern Skarn target, which have confirmed the extension of copper mineralized rocks at surface over a 1.7-kilometre strike zone at the Northern Skarn target.

Strategic objectives and exploration framework

The forthcoming field program will align with Electrum's broader strategy of advancing exploration across the Timok East project around two complementary exploration pathways: (1) a prospect-scale program, focused on refining near-surface targets along the Bambino trend and the Western Mag target using ground magnetic surveys, petrology studies, surface geochemical sampling, geological prospecting and further geophysical studies. This approach is designed to improve target confidence to prioritize for future drilling; (2) a mineral-system-driven approach, integrating architectural studies, deep-penetrating geophysical methods, geochronological studies, extensive literature review and data compilation. This approach aims to unlock the broader porphyry potential of the eastern boundary of the Timok magmatic complex, over which Electrum holds a significant land position.

Spring 2025 field program at Timok East

Electrum is set to initiate its spring 2025 field program at Timok East within the next two weeks, with a strategic focus on identifying the primary hydrothermal driver behind skarn replacement and porphyry mineralization. The results will guide the design of subsequent drill programs and support the continued expansion of Electrum's geological model across the broader Timok East project area, advancing the company's efforts to unlock district-scale copper-gold potential.

Detailed geological mapping, combined with structural studies, and audio-magnetotelluric (AMT) geophysical results (see news release Feb. 19, 2025), have identified a likely westerly dipping, north-northwest-striking extensional fault through the centre of the Bambino locality at the southern part of Timok East. This structure, along with associated potential graben development, represents a prospective structural setting for fluid flow and magmatic-hydrothermal activity. The architecture potentially mirrors key structural controls observed in the Bor and Veliki Krivelj porphyry systems within the district.

To advance its geological understanding and facilitate drill targeting, Electrum is planning a series of immediate follow-up exploration programs:

• Ground magnetics: A ground magnetic survey is planned across the Luka and Makoviste permits of the Timok East project. This work aims to refine the interpretation of magnetic anomalies, including the Western Mag target; define key fault structures that may control mineralization; and identify magnetic zones potentially associated with zones of higher-temperature magnetite-rich skarn replacement along the Bambino trend.
• Geological prospecting and geochemical sampling: Further geological mapping, petrological analysis and systematic rock-chip sampling are planned along the broader Bambino trend. These programs aim to improve the geological model by refining interpretations of skarn and vein assemblages, delineating alteration zones, and identifying potential mineralogical indicators that may indicate associations with concealed porphyry-style copper-gold systems.
• Audio-magnetotelluric survey: Additional AMT survey lines are planned to extend geophysical coverage over the Western Mag target. These surveys will assist in defining the geometry of deep-seated resistive and conductive features potentially associated with porphyry intrusions while also enhancing the understanding of deep-seated structural controls on hydrothermal fluid flow.
• Regional data integration: Continuing literature review and data compilation efforts across the Timok district and the broader Western Tethyan belt aim to contextualize the evolving exploration model within a regional framework, generate new target concepts and identify underexplored analogues that may guide future exploration strategies.

Rock-chip sampling at Northern Intrusive/Skarn target

A total of 14 rock-chip samples were collected during the latest mapping across the Northern Skarn target and sent for further analysis at SGS. Sampling focused on sulphide-bearing skarn replacement zones, brecciated quartz veins, hornfels and three distinct intrusive units.

Assay results have confirmed the extension of copper mineralization at surface over a 1.7-kilometre strike length at the Northern Skarn target. Mineralization was encountered within sulphide-bearing skarn alteration and gossanous quartz breccia material, particularly around the contact zone between a mapped granodiorite intrusion and the surrounding Palaeozoic metasedimentary units.

This style of mineralization is consistent with surface expressions observed at the Bambino prospect, with elevated gold and silver values present in most samples, reinforcing the exploration model and highlighting the potential for laterally extensive skarn replacement and structurally controlled vein-hosted mineralization along the central Bambino trend. The next phase of exploration across this trend will expand surface mapping coverage between the Bambino prospect and the Northern Skarn zone with targeted petrological studies and ground magnetics aiming to vector toward potential higher-grade zones within the system. Key results include:

• Five samples returned copper values between 0.13 per cent and 0.65 per cent.
• Three samples assayed between 14 grams per tonne and 80 grams per tonne silver.
• One sample returned 0.42 gram per tonne gold.

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

Rock-chip 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 were prepared and analyzed at SGS Serbia using a combination of four-acid digest with an MS finish (IMS40B) for a multielement suite and 50-gram fire assay with an AAS finish (FAA505) for gold. Samples were submitted as a batch of 21, made up of 18 samples, one CRM (certified reference material), one blank and one field duplicate. The batch passed Electrum's internal QA/QC procedures.

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) (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 Discovery has an open-door policy and encourages 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.

We seek Safe Harbor.