Electrum Discovery Corp. (“Electrum” or the “Company“) (TSX-V:ELY |FRA:R8N |OTC:ELDCF) is pleased to announce that following a rigorous selection process, it has been selected as one of eight exploration companies to participate in BHP’s 2025 Xplor Accelerator Program (“BHP Xplor” and/or “Program“). Funding from the Program will be directed to the Company’s Timok East copper-gold project (“Timok East“) in the Republic of Serbia.
- Electrum is one of eight early-stage exploration companies selected by BHP, from hundreds of applicants globally, to participate in the 2025 BHP Xplor program.
- BHP Xplor will provide Electrum with up to US$500,000 in non-dilutive grant funding to support and accelerate its exploration activities at Timok East during the 6-month period of the Program.
- Selection for BHP Xplor also gives Electrum access to BHP’s global expertise, networks and partnerships.
- BHP Xplor grant will accelerate exploration across the entire Timok East project and is expected to develop a new geological concept.
BHP Xplor was established in 2023 to support promising mineral explorers and to accelerate the exploration needed to support the energy transition. Over a six-month program period, BHP Xplor targets development of technical, business and operational excellence within participating companies.
As a 2025 BHP Xplor cohort company, Electrum will receive a one-off, non-dilutive grant of up to US$500,000, and in-kind services, mentorship, and networking opportunities with BHP and other industry experts and investors.
“We are honoured and delighted to be selected for BHP Xplor Program” Dr Elena Clarici, CEO and President of Electrum commented. “This is an exciting opportunity for Electrum and a strong endorsement of our exploration strategy underway at Timok East. We have always sought to operate at the cutting edge of exploration practices and it’s rewarding to be recognised for our approach by BHP, a clear industry leader. BHP has global experience for scale targets of the type we are working on, that our exploration will clearly benefit from.”
Head of BHP Xplor, Marley Palin, congratulated Electrum, saying: “The field of applicants for BHP Xplor was extremely strong this year. Successful applicants had to demonstrate not only that their critical-mineral projects were highly prospective but also that they were committed to pushing industry boundaries in their geological concepts and data-gathering, testing and processing to realise the project. Electrum more than met these criteria and we look forward to partnering with Electrum’s team.”
The eight BHP Xplor 2025 cohort explorers were selected from hundreds of global applicants.
There are no obligations or commitments on Electrum beyond the conclusion of the BHP Xplor program in July 2025. However, during the grant period, BHP might elect to make an investment proposal and Electrum is under no obligation to accept it. In the event of Electrum opting to decline this investment offer, BHP will have a right of first refusal in respect of any direct investment into the Timok East Project for a period of 12 months, following the date of the investment proposal.
Continue at Electrum Discovery Corp.
