(TheNewswire)

Vancouver, Canada, April 29, 2025 – TheNewswire - Electrum Discovery Corp. (" Electrum " and/or the " Company ") (TSX-V:ELY | FRA:R8N | OTC:ELDCF) is pleased to announce that a planned ground magnetic survey has commenced at the Timok East Copper-Gold Project (" Timok East " and/or the " Project "), located in eastern Serbia. The Project consist of 3 mineral permits: Bukova Glava, Luka and Makovište covering 123 square kilometres .

“ The results of this ground magnetic survey will better define our understanding of prevailing geological systems at Timok East and will be integral to refining our high-priority targets across this prospective land package ,” commented Dr Elena Clarici, CEO of Electrum Discovery. “ The survey will provide us with additional tools to vector in on skarn and porphyry targets across the Bambino – Northern Skarn trend and refine the Western Mag target for the next phase of exploration .”

The ground magnetic survey will cover 59 square kilometres across the Makovište and Luka licences, comprising a total of 280-line kilometres. It will employ a baseline line spacing of 300 meters, with more detailed 150-meter line spacing over prioritized target areas previously identified through mapping, rock and soil sampling, and regional geophysical interpretations (see Figure 1).

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Figure 1: Location of planned magnetic lines and high priority targets within the Luka and Makovište licences, also showing historical magnetic data (analytical signal) and Phase 1 andesites, commonly associated with porphyry mineralization, from State geological maps. (EPSG:32634).

The primary objective of this survey is to identify magnetic responses potentially linked with porphyry deposit alteration at the Western Mag Target and magnetite-rich zones within skarn systems along the Bambino and Northern Skarn trend, . The magnetic survey is expected to play a significant role in fine- tuning Electrum's exploration strategy and the next phase of drill targeting in a number of ways, such as:

Detecting Magnetic Signatures of Alteration and Mineralization

Porphyry copper deposits often produce distinct magnetic signatures due to the formation or destruction of magnetite during hydrothermal alteration. Early potassic alteration may generate magnetic highs, while later-stage alteration can lead to magnetite depletion and magnetic lows. These variations create anomalies that help outline the geometry of porphyry systems and vector toward mineralized centres. At the Western Mag target, the survey aims to refine a broad magnetic anomaly interpreted as a potential porphyry centre, helping define alteration zones and prioritize drill targets that are not exposed at surface.

In skarn systems in the region, the core zones of mineralization typically exhibit increased magnetite content. This can generate strong, localized magnetic highs with the background sedimentary host rocks. The magnetic survey will assist in vectoring toward potentially higher-grade skarn zones along the Bambino-Northern Skarn trend , where magnetite enrichment may be correlated with increased copper-gold-silver mineralization.

Mapping Intrusive Bodies

Ground magnetics is expected to delineate the shape, extent, and differentiate phases of intrusive bodies, which act as the heat and metal sources for both porphyry and skarn systems. This information is crucial for understanding the source and distribution of mineralization, which gives context needed for more efficient targeting across Timok East.

Structural Mapping

Additionally, magnetic data will be used to identify key structural features, such as faults, fractures, silicified zones, and lithological contacts, that are often concealed beneath surface cover. These structures represent potential pathways for mineralizing fluids and can play a critical role in controlling fluid flow and potential metal deposition. By spatially mapping these features, the magnetic survey will enhance the geological understanding of the structural regime at Timok East and contribute directly to refining exploration targets.

When integrated with geological, geochemical, and other geophysical data (such as the Company’s previous IP and AMT surveys), magnetic data adds an important layer of detail that will enable the Company to refine exploration targets ahead of the next phase of exploration at Timok East.

Qualified Person

The scientific and technical contents of this news release have been reviewed and approved by Mr. Thomas Sant BSc, FGS, CGeol, EurGeol. Mr. Sant is a non-independent Qualified Person as defined by NI 43-101 and the VP, Operations, of the Company.

About Electrum Discovery Corp.

Electrum Discovery Corp. is an emerging mineral exploration and development company focused on the prolific Western Tethyan Belt with two main projects spanning 645 square kilometers of prospective exploration ground in the Republic of Serbia.

• Timok East extends over 123 square kilometers across the Timok copper-gold region and includes the recently discovered Bambino copper-gold anomaly, located less than five kilometers from the Bor Copper-Gold Mining Complex.

• Novo Tlamino , located in the south-east of the Republic of Serbia, covers 522 square kilometers and includes an inferred mineral resource estimate of 670,000oz AuEq (7,100,000t at 2.9 g/t AuEq average grade), PEA (January 7, 2021) 1

Electrum Discovery is looking to maximize the value of our mineral projects for all stakeholders including our shareholders, the local community and government. We have an open-door policy and encourage all stakeholders to contact us through our website. We have a strong environmental and ethics policy to complete all our work in line with regulations in an open and transparent process. Our projects are at an early stage, and we plan to continue our consultation with all stakeholders in a climate of mutual respect, while fostering sustainability, governance, and knowledge transfer in the region.

Additional information on Electrum can be found by reviewing the Company's page on SEDAR+ at www.sedarplus.ca .

For more information contact:

Dr Elena Clarici, Chief Executive Officer and Director

T : +1 604 801 5432 | E : elena@electrumdiscovery.com | W : electrumdiscovery.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

Certain statements contained in this news release constitute “forward-looking information” within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking information. Such statements include Company’s expected achievement of specified milestones, results of operations, and expected financial results of the Company. Often, but not always, this forward-looking information can be identified by the use of words such as "estimate", "estimates", "estimated", "potential", "open", "future", "assumed", "projected", "used", "detailed", "has been", "gain", "upgraded", "offset", "limited", "contained", "reflecting", "containing", "remaining", "to be", "periodically", or statements that events, "could" or "should" occur or be achieved and similar expressions, including negative variations.

Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Electrum, to be materially different from any results, performance or achievements expressed or implied by forward-looking information. Such uncertainties and factors include, among others, uncertainties inherent in the PEA and exploration results and the estimation of mineral resources; risks related to the failure to obtain adequate financing on a timely basis and on acceptable terms; changes in general economic conditions and financial markets; risks associated with the results of exploration and development activities, and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in Electrum's quarterly and annual filings with securities regulators and available under Electrum's profile on SEDAR+ at www.sedarplus.ca . Rock chips and surface results are early stage and there is no assurance that future exploration will find mineralization of further interest. Although Electrum has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.

Forward-looking information contained herein is based on the assumptions, beliefs, expectations and opinions of management. Forward-looking information has been made as of the date hereof and Electrum disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.

1 Preliminary Economic Assessment and NI43-101 Technical Report for the Medgold Tlamino Project, January 7, 2021, www.sedarplus.ca . The effective date of the resource estimate is January 7, 2021.  Authors of the Reports are: Mr. Richard Siddle, MAIG, of Addison Mining Services Ltd for Mineral Resources; Dr. Matthew Randall, FIMMM, of Axe Valley Mining Consultants Ltd for Mining; Mr. Ian Jackson, FIMMM, of Bara Consulting for Mineral Processing, and Dr. Andrew Bamber, MCIM, of Bara Consulting Ltd for Economic Analysis.

The PEA is preliminary in nature, and it includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be characterized as mineral reserves, and there is no certainty that the PEA will be realised.

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