BALKAN METALS CORP.

Balkan Metals Corp. (BMC), a private British Columbia company, was acquired by Medgold Resources Corp. in a reverse takeover transaction. Following the transaction, Medgold changed its name to Electrum Discovery Corp.. The acquisition involved a non-binding letter of intent, followed by a definitive amalgamation agreement. The transaction involved the issuance of shares and convertible debentures. Balkan Metals arranged a private placement financing in Medgold and the acquisition completed a reverse takeover of Medgold by Balkan Metals Corp., along with completion of a concurrent non-brokered private placement. Electrum Discovery Corp. now holds a portfolio of exploration licences in Serbia covering close to 1,000 square kilometres.