MinRex Resources Ltd. has completed its merger with Electrum Discovery Corp., forming a well-funded gold and copper explorer with exploration and advanced assets across Australia and Serbia.
Pursuant to the Merger, holders of Electrum common shares prior to the merger receive 7.9 MinRex shares for each Electrum common share held. Electrum shares will be de-listed from the TSX-V at market close on April 14.
The merger combines two highly prospective asset portfolios, positioning the company as a key player in both Australia and Serbia. Electrum’s Tlamino gold project in Serbia hosts a high-grade, near-surface Inferred Resource of 670,000 ounces of gold equivalent (AuEq) at 2.9 grams per tonne AuEq.
Complementing this is MinRex’s Australian portfolio, anchored by the Sofala Gold Project in New South Wales, which sits within the highly productive Lachlan Fold Belt and holds over 350,000 ounces of gold in Inferred Resources.
MinRex’s immediate strategic focus is to scale and advance the Tlamino project while unlocking further exploration upside across its Serbian copper and gold targets.
Simultaneously, the company will continue to progress its high-impact base metals and gold assets in Australia.
As part of the leadership transition, MinRex has appointed Dr Elena Clarici to the board. A co-founder of Electrum, Clarici brings over 25 years of international mining, corporate, and Serbian-specific experience to the leadership team, which is expected to be instrumental in driving the company’s new integrated strategy.
The company has advised that further details regarding upcoming work programs, including planned drilling at the Tlamino project, will be released to shareholders shortly.