Electrum Discovery Advances AMT Geophysical Survey at Timok East, Identifying Additional Drill Targets
Vancouver, January 21, 2026 - Electrum Discovery Corp. ("Electrum" and/or the "Company") (TSX-V:ELY | FRA:R8N | OTC:ELDCF) is pleased to announce that it has completed and received inversion results for the Phase 2 Audio-Magnetotelluric ("AMT") survey at the Company's copper-gold Timok East exploration project located within the prolific Western Tethyan Belt in the Republic of Serbia. Additionally, dating results have been received for a recently discovered zone of andesite, confirming a Late Cretaceous age. | Highlights:
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Dr Elena Clarici, CEO and President of Electrum commented: "The integration of AMT results from our previous and new surveys, andesitic units found in the Limestone Boundary magnetic anomaly, and dating studies confirming the andesites to be Late Cretaceous, has provided additional confidence that the footprint of magmatism related to the Timok Magmatic Complex extends further to the east into Timok East. The new combined AMT model using stations from both surveys has significantly extended the 3D resistivity model and highlighted two distinctive zones of high conductivity at 250-550 metres depth. Their geometry and position relative to mapped stratigraphy are highly encouraging for porphyry and related hydrothermal mineralisation. These results provide a strong technical basis for advancing these new targets into a drill-ready stage in 2026."
Timok East - Audio-Magnetotelluric Survey
Electrum continues to advance exploration at its Timok East Project, located within the Western Tethyan Belt and adjacent to several world-class porphyry Cu-Au deposits. Exploration to date has identified multiple geophysical and geochemical anomalous zones, including the Western Mag, Bambino, and Limestone Contact targets.
During Q4 2025, Electrum engaged 3D Consulting-Geo GmbH to conduct a Phase 2 of a broadband Audio-Magnetotelluric (the "AMT") geophysical survey with 41 measuring stations, over an area of 5 x 2.5 kilometres (Figure 1).
The objective of the survey was to refine and extend the subsurface resistivity model from a previous AMT survey completed in early 2025 (See Company News Release 19th February 2025) and to identify additional zones of high conductivity or resistivity that could represent potential intrusions, alteration, or mineralisation related to large-scale concealed copper ± gold systems.
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Figure 1. 2025 AMT stations (white -Q1 stations, yellow -Q4 stations) and location of dated andesite unit shown on district geology. Target areas from previous ground magnetic surveys are shown for reference (Company News Release 12th June 2025). EPSG:32634.
The survey was contiguous with the earlier AMT survey, also carried out by 3D Consulting-Geo GmbH using the same equipment and results were processed using the same methodology; data from both surveys was combined to form an updated 3D model of sub-surface resistivity.
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Figure 2. Horizontal slice through the modelled AMT resistivity at 80 m above reference-level (approximately 250 to 550 m below surface level in the survey area). Areas of high conductivity marked as A and B. Target areas from previous ground magnetic surveys are shown for reference (Company News Release 12th June 2025). EPSG:32634.
Two areas of high conductivity, at depths of ~250 to ~550 metres below surface, are seen in the 3D modelled resistivity from the extended AMT survey and are marked as A and B on Figures 2 and 3 respectively. These target zones are at depth below areas of Jurassic and Cretaceous limestones and sedimentary/volcanic units at surface with potential to host intrusive units and possible associated mineralisation of the Timok Magmatic Complex ("TMC"). The Company considers these zones as high priority for future scout drilling.
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AMT is a passive geophysical exploration technique used to map subsurface resistivity and conductivity to depths of over 5 kilometers by measuring natural electromagnetic fields generated by global lightning strikes and ionospheric currents.
Limestone Boundary magnetic anomaly confirmed to contain Upper Cretaceous andesite
Electrum has recently received the results of age dating for an andesitic unit found as subcrop and float within the Limestone Boundary magnetic anomaly at the location shown in Figures 1 and 2.
U-Pb analyses performed at the University of Portsmouth by LA-ICP-MS of apatite have provided an age of 94.8 ± 4.6 Ma. This Late Cretaceous age overlaps the earliest zircon-based ages of ~90 Ma reported for Timok andesites and the unit is currently interpreted to represent an early intrusive stage of Timok magmatism at the eastern boundary of Jurassic limestone units or within the metasedimentary basement units.
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Figure 4. Specimen LRC-0015. Dated as Late Cretaceous (94.8 ± 4.6 Ma).
Together with the targets from the AMT survey, the Late Cretaceous age of the andesitic unit within the Limestone Boundary magnetic anomaly supports the potential for undiscovered porphyry and/or epithermal systems to the east of what has traditionally been considered the limit to the Timok Magmatic Complex.
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 a retained technical advisor to the Company.
About Electrum Discovery Corp.
Electrum Discovery Corp. is a Canadian based, growth-oriented company, committed to increasing shareholder value through advancement of our two projects: gold-silver Novo Tlamino and copper-gold Timok East, 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 our mineral projects for all stakeholders including our shareholders, the local community and government, 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.
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