Electrum Discovery Announces Filing and Mailing of Meeting Materials for the Special Meeting of Securityholders to be Held on March 24, 2026 and Receipt of Interim Order in Respect of Previously Announced Arrangement with MinRex Resources

Executive Summary

• The Supreme Court of British Columbia issued an interim order allowing Electrum Discovery Corp. to call a special shareholders’ meeting to approve its arrangement with MinRex Resources Ltd., under which MinRex will acquire all outstanding Electrum common shares (excluding those already held by MinRex).
• All outstanding Electrum options, warrants and deferred share units will be transferred to MinRex and cancelled; holders will receive MinRex shares calculated via a Black‑Scholes valuation.
• The special meeting is scheduled for March 24, 2026 at 10:00 a.m. PT in Vancouver; only shareholders of record as of January 29, 2026 are eligible to vote.

Key Details

• Court Order: Interim order dated February 20, 2026 from the Supreme Court of British Columbia authorizing the special meeting and related matters.
• Arrangement Overview: MinRex will acquire 100% of Electrum’s issued and outstanding common shares (excluding MinRex‑held shares).
• Shareholder Vote: Special resolution to approve the Arrangement will be presented at the March 24, 2026 meeting; voting can be done in person, by proxy, telephone, internet or mail as detailed in the Circular.
• Record Date: Thursday, January 29, 2026 – shareholders of record on this date are entitled to notice and voting rights.
• Treatment of Derivatives: All outstanding Electrum options, warrants and deferred share units will be transferred to MinRex, immediately cancelled, and holders will receive a number of fully paid MinRex shares based on the fair market value determined by a Black‑Scholes model.
• Meeting Location: Gowling WLG (Canada) LLP, Suite 2300, 550 Burrard Street, Vancouver, BC V6C 2B5.
• Voting Assistance Contacts:
• Internet: www.investorvote.com / www.proxyvote.com
• Telephone: 1‑866‑732‑VOTE (8683) (toll‑free)
• Mail: Return proxy form in provided envelope.
• Regulatory Filings: Notice of meeting, management information circular and related documents have been filed with securities regulators and are available on Electrum’s website and SEDAR+ profile.

Notable Quotes

• “Electrum is looking to maximize the value of our mineral projects for all stakeholders,” – Dr. Elena Clarici, CEO & Director (statement emphasizing strategic intent behind the Arrangement).