Canada’s Electrum Discovery and Australia’s MinRex Resources are merging to create a new leader in copper and gold exploration in Serbia

Shareholders of the Canadian company Electrum Discovery Corp. have given nearly unanimous approval (99.99%) for the strategic merger with Australia’s MinRex Resources. The deal, which is expected to be finalized around April 9, 2026, will create a major international copper-gold exploration company with assets in Serbia and Australia, BalkanEngineer.com learned from the company’s official announcement and SeeNews.

The combined company will focus on two main projects in Serbia, covering a total area of 645 m². The first is the “Timok East” copper project, located in close proximity to Zijin’s world-renowned mining complex in Bor. The second strategic site is the “Novo Tlamino” gold-silver deposit near Bosilegrad. The merger will provide the necessary capital to launch large-scale drilling programs in 2026, aimed at confirming the presence of significant resources at depth.

Under the terms of the agreement, Electrum’s shareholders will hold approximately 49.3% of the new entity, while MinRex’s shareholders will hold the remaining 50.7%. The new company will be listed on the Australian Securities Exchange (ASX), which will improve its access to liquidity and accelerate the conversion of Serbian exploration sites into operating mines. The first results from the new geophysical surveys and diamond drilling are expected to be presented to investors as early as the second half of the year.

Photo source: ©Engineer BG via Canva.com