Dr. Elena Clarici reports

ELECTRUM DISCOVERY CLOSES OVER SUBSCRIBED PRIVATE PLACEMENT

Further to its press release dated Sept. 8, 2025, Electrum Discovery Corp. has closed its oversubscribed, non-brokered private placement for total gross proceeds of $1,608,077.

Dr. Elena Clarici, president and chief executive officer, commented: "We greatly appreciate the steadfast support of our shareholders, in particular Crescat Capital, which provided a cornerstone investment. With closing of this financing, Electrum is now well positioned to unlock value from both our gold and copper assets, located in some of Europe's most prolific mineral districts. The proceeds from the financing will enable start of infill and expansion drilling at Novo Tlamino while accelerating drill targeting at Timok East. We thank all our shareholders, new and old, for their continued support in sharing our vision of building Europe's premier, next-generation copper-gold explorer."

The company issued 22,972,527 units at a price of seven cents per unit. Each unit consists of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share in the capital of the company at an exercise price of 15 cents per common share for a period of two years from the date of issuance thereof.

Finders' fees in the amounts of $12,246 in cash and 365,004 finder warrants were payable in connection with the private placement.

All securities issued in the private placement are subject to a four-month hold period expiring on Feb. 3, 2026, in accordance with applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws in jurisdictions outside of Canada. The private placement remains subject to the final approval of the TSX Venture Exchange.

The proceeds from the private placement will be used to continue working on the company's Novo Tlamino and Timok East projects in Serbia as well as for working capital and general corporate purposes.

About Electrum Discovery Corp.

Electrum Discovery is a Canadian-based, growth-oriented company, committed to increasing shareholder value through the advancement of its two projects: the Novo Tlamino gold-silver project and the Timok East copper-gold project, located in two known mineralized districts within the prolific Western Tethyan belt in the Republic of Serbia.

Electrum Discovery is looking to maximize the value of its mineral projects for all stakeholders, including the company's shareholders and the local community and government, while fostering sustainability, governance and knowledge transfer in the region.

We seek Safe Harbor.