Vancouver, Canada – TheNewswire -  October 3, 2025 – Electrum Discovery Corp. ("Electrum" and/or the "Company") (TSX-V:ELY | FRA:R8N | OTC:ELDCF) is pleased to announce that further to its press release dated September 8, 2025, the Company has closed its over-subscribed, non-brokered private placement (the "Private Placement") for total gross proceeds of $1,608,077.

Dr Elena Clarici, President and CEO 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 ("Units") at a price of $0.07 per Unit. Each Unit consists of one common share in the capital of the Company (an "Offering Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share in the capital of the Company at an exercise price of $0.15 per common share for a period of two years from the date of issuance thereof.

Finder’s fees in the amounts of $12,246 in cash and 365,004 finder’s 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 February 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 Corp. is a Canadian based, growth-oriented company, committed to increasing shareholder value through advancement of its 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.