What are the details of the MinRex Resources (ASX:MRR) merger with Electrum Discovery?

MinRex Resources (ASX:MRR) has completed a 100% acquisition of Electrum Discovery Corp via a Canadian statutory plan of arrangement. Electrum shareholders received 7.9 MRR shares for every Electrum share held.

Why did MinRex Resources (ASX:MRR) acquire Electrum Discovery?

The acquisition transforms MinRex into a well-funded, multi-jurisdictional explorer with a dual focus on gold and copper. By merging, MinRex adds the high-grade Tlamino Gold Project in Serbia to its portfolio, complementing its existing Australian assets.

What major assets does MinRex Resources (ASX:MRR) now own?

MinRex now controls two primary advanced exploration projects: the Tlamino Gold Project in Serbia and the Sofala Gold Project in New South Wales, Australia. The Tlamino project has an inferred resource of 670,000 ounces of gold equivalent at 2.9g/t.

How does this merger change the investment thesis for MinRex Resources (ASX:MRR)?

The investment thesis shifts from a purely Australian-focused play to a global exploration narrative with significant exposure to Serbian gold and copper. The addition of 670,000 ounces of gold equivalent resource substantially increases the company’s total resource base.

What are the key risks for MinRex Resources (ASX:MRR) after this news?

While the resource size has increased, the company faces "exploration risk," meaning there is no guarantee that drilling will lead to a bankable feasibility study or production. Operating in Serbia introduces new regulatory and geopolitical variables compared to the Australian market.

What is the immediate strategy for MinRex Resources (ASX:MRR) post-merger?

Management is prioritising aggressive scaling at the Tlamino Gold Project in Serbia to unlock district-scale discovery potential. Investors should expect a series of upcoming drilling programmes designed to test the high-grade targets and expand the current resource estimate.

Who is joining the MinRex Resources (ASX:MRR) leadership team?

Dr Elena Clarici has been appointed to the MinRex board to help guide the company's expansion into Eastern Europe. Dr Clarici brings extensive corporate experience and specific expertise in the Serbian mining sector.

What are the next key catalysts for MinRex Resources (ASX:MRR) shareholders?

The primary catalysts to watch are the commencement and subsequent results of the new drilling programmes at the Tlamino project in Serbia. Investors should also monitor for updates regarding the integrated resource estimate under JORC standards.

MinRex finalises strategic merger with Electrum Discovery

Written by Heidi Cuthbert Published Apr. 13 2026

MinRex Resources (ASX:MRR) finalised its merger with Electrum Discovery Corp.

The transaction, executed through a Canadian statutory plan of arrangement, sees MinRex acquiring 100% of Electrum’s issued and outstanding shares, effectively transitioning the company into a well-funded, multi-jurisdictional gold and copper explorer.

The merger bolsters MinRex’s portfolio by integrating advanced exploration assets across two continents.

Key to this endowment is Electrum’s Tlamino Gold Project in Serbia, which boasts a high-grade, near-surface NI 43-101 inferred resource of 670,000 ounces of gold equivalent at 2.9g/t.

This complements MinRex's existing Sofala Gold Project in New South Wales, which holds over 350,000 ounces of gold inferred resources within the prolific Lachlan Fold Belt.

Under the terms of the deal, Electrum shareholders received 7.9 MinRex shares for every Electrum share held.

Following the completion on April 10, Electrum is expected to be delisted from the TSX-V by April 14.

To guide this new chapter, MinRex has welcomed Dr Elena Clarici to its board, leveraging her extensive corporate and Serbian mining expertise.

The company's immediate strategy focuses on aggressive scaling at the Tlamino Project, with upcoming drilling programmes designed to unlock district-scale discovery potential.

At the time of reporting, MinRex Resources’ share price was $0.017.