Dr. Elena Clarici reports

ELECTRUM DISCOVERY IDENTIFIES NEW MINERALISED TRENDS AND REFINES TARGETING WITH MAGNETIC SURVEY

Electrum Discovery Corp. has released the results of a recent ground magnetic survey at its 100-per-cent-owned Timok East copper-gold project, located in the prolific West Tethyan belt in the Republic of Serbia.

Highlights:

• Ground magnetic survey totalling 280 line kilometres completed across 59 square kilometres of the southern Timok East licences (Makoviste and Luka);
• Magnetic-high anomaly identified along the Bambino trend, intensifying northward across previously unexplored ground;
• Western Mag target shown to extend as a major north-northwest-trending feature, strengthening its classification as a priority target;
• New target identified by magnetic anomaly along the eastern boundary of the limestone ridge;
• Initial 3-D inversion and integration of magnetic data under way to support further targeting across multiple zones;
• Fieldwork, including surface geochemical surveying and geological mapping, is planned to advance exploration over the identified targets.

Dr. Elena Clarici, chief executive officer and president of Electrum, commented: "The ground magnetic survey has significantly improved our understanding of the structural and geological architecture at Timok East. The results confirm the northward continuation of the Bambino trend, where magnetic highs are spatially associated with copper anomalies in both soil and rock samples, extending into previously untested ground. We are also encouraged by the definition of the Western Mag target, which aligns with key volcanic units and structural features known to host porphyry-style systems in the region. The identification of a new magnetic anomaly along a limestone-sandstone boundary, with no history of exploration, presents an exciting new target. These findings will guide our next phase of fieldwork and targeting as we continue to advance the Timok East project."

The ground magnetic survey covered 59 square kilometres across the Makoviste and Luka licences, comprising a total of 280 line kilometres. Line spacing was 300 metres with more detailed 150-metre line spacing over prioritized target areas.

Initial interpretation of the data highlights several key trends and targets.

Bambino trend

A prominent magnetic-high anomaly extends northward from the Bambino area, coinciding with zones of elevated copper in soil and copper, gold and silver in rock samples along a north-northwest-trending structurally controlled corridor. The anomaly intensifies toward the north, coinciding with the Northern Skarn target and continuing beyond the limits of current exploration into the Luka area. Farther north, the magnetic response strengthens across mapped lithological boundaries, indicating that the anomaly is not solely attributable to lithological contrast but may reflect magnetite-bearing hydrothermal alteration. This magnetic feature supports the potential for a wider zone of magnetite enrichment potentially related to widespread skarn-style or intrusion-related alteration along the entire Bambino trend.

Western Mag target

The ground magnetic survey has provided additional resolution to regional data sets, refining the geometry and structure of the Western Mag target. The anomaly is defined by a segmented magnetic high extending along a major north-northwest-trending corridor coinciding with phase 1 andesitic volcanic rocks along a regional extensional fault -- a geological setting that hosts several major porphyry copper deposits within the Timok region. The magnetic response includes multiple linear highs that may correspond to magnetite-bearing alteration zones or magnetite-bearing phase 1 andesites, consistent with the potential for skarn- or porphyry-style mineralization. Structural intersections along the corridor provide additional to prioritize follow-up exploration.

New limestone boundary target

A newly defined linear magnetic-high anomaly has been delineated along the westerly dipping contact between Jurassic limestones and Palaeozoic conglomerates and sandstones. This feature coincides with a geologically favourable setting for skarn- or CRD-style (carbonate replacement deposit) mineralization. With no recorded historic exploration in this area, it represents a high-priority target for follow-up fieldwork.

Data integration and target refinement

Three-dimensional inversion of the magnetic data is under way and will be integrated with previous geophysical, geological and geochemical data sets to improve subsurface understanding and assist in refining priority targets ahead of follow-up field programs.

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, includes multiple copper-gold targets and mineralized trends, and is located less than five kilometres from the Bor 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 dated Jan. 7, 2021).

Electrum Discovery is looking to maximize the value of its mineral projects for all stakeholders including the company's 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.

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