Terra Balcanica Announces Extension to Private Placement Financing

2026 / Aug

Terra Balcanica Announces Extension to Private Placement Financing

Vancouver, British Columbia – August 7^th 2026 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10; OTCQB:TEBAF) announces an extension to its non-brokered private placement (the “Private Placement”), initially announced in the Company’s news release dated June 24^th, 2026, for gross proceeds of up to C$750,000 through the issuance of up to 15,000,000 units (each a “Unit”) at a purchase price of C$0.05 per Unit. The Company has extended the closing date (the “Closing Date”) of the Private Placement to be on or before September 8^th, 2026.

Each Unit will be comprised of one common share in the capital of the Company (“Common Share”) and a Common Share purchase warrant (“Warrant”) to purchase an additional one common share of the Company (“Warrant Share”) at an exercise price of C$0.10 per Warrant Share for a period of 24 months from the Closing Date. The Units are being offered by way of prospectus exemptions in Canada, in the United States pursuant to available exemptions from the registration requirements and in certain jurisdictions outside of Canada and the United States, as determined by the Company. The Common Shares, Warrants and Warrant Shares, if issued within four months of the Closing Date, will be subject to a hold period of four months plus one day from the Closing Date in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange if applicable. The Private Placement is subject to certain conditions, including any requisite approval of the Canadian Securities Exchange and certain other customary conditions including, but not limited to, execution of subscription agreements between the Company and the subscribers. In certain circumstances, the Company may pay finder’s fees in cash and warrants on a portion of the Private Placement.

The Company intends to use the proceeds of the Private Placement to pay for: i) the costs of a UK stock exchange listing, ii) executing a ground geophysical survey at the Cumavici target, and iii) commencing the Phase IV drilling program at Cumavici within its Viogor project in Bosnia and Herzegovina.

Terra North Share Issuance

Terra further announces that Terra North Resources Corp. (“Terra North”), its corporate spin-off and a private company incorporated under the laws of British Columbia, Canada in which Terra currently owns a 46.3% equity stake (see December 15^th, 2025 news release), and which became the optionee of the reassigned exploration portfolio in Saskatchewan pursuant to an amending, assignment and assumption agreement between Terra, Terra North, Fulcrum Metals PLC and Fulcrum Metals (Canada) Ltd. (“Fulcrum Canada”) dated November 10^th, 2025, has issued 5.6 million Terra North shares to Fulcrum Canada at the price of C$0.10 per share as the 2nd anniversary payment of the original option agreement and based on the second amending agreement (“Second Amending Agreement”) dated August 6^th, 2026 entered into between the parties. Pursuant to the Second Amending Agreement, the Terra North shares held by Fulcrum Canada will be subject a voluntary 12-month hold period following completion of a going-public transaction by Terra North, in addition to mandatory escrow and hold periods that may be imposed by applicable securities laws, the policies of an applicable stock exchange and selling agents. Further, the 2nd anniversary cash payment to Fulcrum Canada by Terra North will be deferred to the earlier of (i) the 13th trading day following the completion of a going-public transaction, and (ii) October 31^st, 2026, and the remainder of the option conditions will be extended based on the anniversary dates of the going-public transaction if completed prior to the original deadlines.

Terra North Share Issuance

The Company also announces that further to its news release dated June 25^th, 2026, it has concluded its engagement of DGWA GmbH as a financial markets advisor of the Company.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About the Company

About the Company
Terra Balcanica is a silver and antimony-focused polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 100% interest in the Viogor Project in eastern Bosnia and Herzegovina. Terra owns a 46.3 equity stake in Terra North Resources Corp. and its Canadian assets that comprise a 100% optioned portfolio of uranium-prospective claims surrounding the world-renowned Athabasca basin. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the terms and completion of the Private Placement, the anticipated Closing Date, the payment of finder’s fees and the use of proceeds for the Private Placement. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Private Placement; the state of the equity financing markets in Canada and other jurisdictions; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

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Terra Balcanica Appoints DGWA as European Financial Markets Advisor

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2026 / Jun

Terra Balcanica Appoints DGWA as European Financial Markets Advisor

Vancouver, British Columbia – June 25^th 2026 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10; OTCQB:TEBAF) is pleased to announce that it has appointed DGWA GmbH (“DGWA”), a Frankfurt-based corporate advisory and capital markets firm, as its European financial markets advisor.

This strategic engagement aims to maximize the value of Terra Balcanica’s high-grade polymetallic portfolio and increase market recognition of the Company’s unique exposure to silver, antimony, zinc, gold and lead in one of Europe’s most historically productive metallogenic belts. DGWA will support the Company in significantly expanding its European profile among strategic investors, institutional funds, family offices and industry participants, and in growing awareness of Terra Balcanica’s rapidly advancing flagship Viogor Project.

Terra Balcanica Resources Corp. is a polymetallic exploration company targeting large-scale mineral systems within the Western Tethyan Metallogenic Belt in southeastern Europe. The Company holds 100% interest in the Viogor Project in eastern Bosnia and Herzegovina, a 49 km² land package situated adjacent to Mineco Ltd.’s operating Sase Mine in the prolific Srebrenica mining district. The Viogor Project offers exposure to one of southeast Europe’s most geologically compelling polymetallic prospects. Drill campaigns between 2022 and 2026 have confirmed high-grade silver-antimony mineralization, with an average grade of ca. 650 g/t Ag Eq. approximately 50 m below surface at Cumavici and 436 g/t Ag Eq. over 20 m at Brezani as well as the world’s 5th best 2024-2025 antimony intercept.

With antimony classified as a critical mineral by the European Union and the United States and Australia, Terra Balcanica is strategically positioned at the intersection of Europe’s critical mineral security agenda and one of its most prospective yet underexplored exploration frontiers.

Dr. Aleksandar Mišković, president and CEO of Terra Balcanica Resources, commented:

Europe is where our story needs to be told. The Western Balkans sit within one of the world’s great metallogenic belts, yet the region remains significantly underexplored relative to its geological endowment. Our Phase III drill program delivered outstanding results at Viogor, and we are at a stage where broadening our European investor base is both timely and strategically important. DGWA’s deep network across the DACH region and European capital markets makes them the right partner to support that effort. We look forward to expanding our visibility and connecting with the investors who will help us unlock the full potential of this project.

Mr. Stefan Müller, CEO of DGWA, noted:

We are pleased to work with Terra Balcanica and support the company in the European financial markets. The Viogor Project represents a genuinely compelling critical minerals opportunity in a region of growing strategic importance to European industry. The project’s high-grade silver-antimony system, combined with an emerging large-volume gold target, places Terra Balcanica at a distinctive position in the European exploration landscape. At a time when supply chain resilience and critical mineral security are driving unprecedented institutional interest in junior explorers, we look forward to introducing the Company to our European investor network and supporting its growth across the DACH region and beyond.

About DGWA GmbH

DGWA, the German Institute for Asset and Equity Allocation and Valuation (“Deutsche Gesellschaft für Wertpapieranalyse GmbH”), is a European Corporate Advisory based in Frankfurt, Germany. The management team has a 30-year track record in trading, investing, and analysing SMEs around the world. DGWA has been involved in over 250 IPOs, financings, bond issues, dual listings, and corporate finance transactions as well as corresponding road shows and awareness campaigns.

About the Company

Terra Balcanica is a silver and antimony-focused polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 100% interest in the Viogor Project in eastern Bosnia and Herzegovina. Terra owns a 48% stake in Terra North Resources Corp. and its Canadian assets that comprise a 100% optioned portfolio of uranium-prospective claims surrounding the world-renowned Athabasca basin. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

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Terra Balcanica Announces Private Placement Financing

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Terra Balcanica Announces Extension to Private Placement Financing

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2026 / Jun

Terra Balcanica Announces Private Placement Financing

Vancouver, British Columbia – June 24^th 2026 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10; OTCQB:TEBAF) is pleased to announce the intent to complete a non-brokered private placement (the “Private Placement”) for gross proceeds of up to C$750,000 through the issuance of up to 15,000,000 units (each a “Unit”) at a purchase price of C$0.05 per Unit. Each Unit will be comprised of one common share in the capital of the Company (“Common Share”) and a Common Share purchase warrant (“Warrant”) to purchase an additional one common share of the Company (“Warrant Share”) at an exercise price of C$0.10 per Warrant Share for a period of 24 months from the closing date of the Private Placement (the “Closing Date”).

The Units will be offered by way of prospectus exemptions in Canada, in the United States pursuant to available exemptions from the registration requirements and in certain jurisdictions outside of Canada and the United States, as determined by the Company. The Common Shares, Warrants and Warrant Shares, if issued within four months of the Closing Date, will be subject to a hold period of four months plus one day from the Closing Date in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange if applicable. The Closing Date is expected to occur on or before July 17^th, 2026, subject to certain conditions, including any requisite approval of the Canadian Securities Exchange and certain other customary conditions including, but not limited to, execution of subscription agreements between the Company and the subscribers. In certain circumstances, the Company may pay finder’s fees in cash and warrants on a portion of the Private Placement. The Company intends to use the proceeds of the Private Placement to pay for: i) the costs of a UK stock exchange listing, ii) executing a ground geophysical survey at the Cumavici target, and iii) commencing the Phase IV drilling program at Cumavici within its Viogor project in Bosnia and Herzegovina.

About the Company

About the Company
Terra Balcanica is a silver and antimony-focused polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 100% interest in the Viogor Project in eastern Bosnia and Herzegovina. Terra owns a 48% stake in Terra North Resources Corp. and its Canadian assets that comprise a 100% optioned portfolio of uranium-prospective claims surrounding the world-renowned Athabasca basin. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

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Terra Balcanica Obtains Exploration Licence in Bosnia-Herzegovina

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Terra Balcanica Appoints DGWA as European Financial Markets Advisor

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2026 / Jun

Terra Balcanica Obtains Exploration Licence in Bosnia-Herzegovina

Vancouver, British Columbia – June 3^rd 2026 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10; OTCQB:TEBAF) is pleased to announce that it has secured a new mineral exploration licence (“Permit”) comprising the Viogor polymetallic project in eastern Bosnia and Herzegovina.

The new mineral exploration permit for the “Pb-Zn-Cu and associated base and precious metals” No. 05.04/310-366-3/26 was issued to Energetski minerali doo Banja Luka, a wholly owned Terra subsidiary, by the Republic of Srpska Ministry of Energy and Mines on May 20^th, 2026. The exploration permit is valid for 3 years with the standard provisions for two 2-year extensions allowing for up to 7 years of continuous mineral exploration tenure.

The new permit area encapsulates the three targets defined by Terra’s diligent exploration activities between 2020 and 2022, namely: the historically known Čumavići polymetallic corridor, the Kiseli Potok Mo porphyry and the two Brežani discoveries. It encompasses 49.06 km² and extends NW-SE along the Alpine orogenic trend west and south of the town of Srebrenica (Figure 1.)

Figure 1. The Viogor mineral exploration licence encapsulates the three mineralized localities which will be advanced over the next 7 years. The operating Mineco Ltd. Sase mine is strategically located 7 and 11 km away from Čumavići and Brežani, respectively.

Terra’s President and Chief Executive Officer, Dr. Aleksandar Mišković, P.Geo., remarked:

Building on our discoveries of high-grade, silver-antimony-zinc-lead-gold mineralization at Čumavići as well as an auriferous skarn and silver-antimony-zinc mineralization at Brežani, our securing of the Viogor project is an important step in advancing Terra’s Bosnian assets. It allows the Company to maintain drilled target areas for an additional seven years and as such to become one of the very few suppliers of critical metals, notably antimony, for the neighboring European markets. Removing tenure uncertainty paves way for unhindered push towards a preliminary resource estimate next year. Not only is the award of Viogor fundamental for our success but it also illustrates the ease of doing business in Republic of Srpska, Bosnia and Herzegovina while highlighting the expertise of our management team when it comes to holding onto key assets.

Viogor Project

The Permit project covers 49.06 square kilometres of historic Srebrenica mining district (i.e. Srebrenica Magmatic Complex; see below) downsized to one active exploration permit. It includes a series of silver and base metal targets interpreted as intermediate sulfidation epithermal veins and lies approximately 80 kilometres east-northeast of the Dundee Precious Metals’ Vareš mine that hosts Indicated Mineral Resources of 18.3 Mt at 168 g/t Ag, 1.3 g/t Au, 4.6% Zn, 2.9% Pb, 0.4% Cu and 30% BaSO₄ and Inferred Mineral Resources of 2.8 Mt at 75 g/t Ag, 0.5 g/t Au, 2.4% Zn, 1.6% Pb, 0.2% Cu and 13% BaSO₄, a deposit comparable in grade and metal composition to the two targets at Viogor.

Terra’s exploration licence is also located adjacent to the Mineco Ltd. Gross (Sase) Mine which produces approximately 330 kt of lead-zinc-silver-gold concentrate per year (Figure 1; https://www.minecogroup.com/gross). This facility hosts a crushing and flotation circuits to process the ore which is genetically identical to the mineralized horizons drilled by Terra and thus offers a strategic advantage during further project development.

Regional and Project Geology

The Srebrenica Magmatic Complex (SMC) is the 30-million-year-old, western member of the Podrinje Metallogenic District which includes the Serbian Cer and Boranja mining districts, collectively the northwesternmost extensions of the Serbo-Macedonian Metallogenic Province (SMMP) of the Western Tethyan Metallogenic Belt. The SMMP mainly hosts deposits of Paleogene to Neogene age. The Srebrenica district is hosted by Oligo-Miocene, intermediate to mafic subvolcanic rocks emplaced into Paleozoic slates and covered by Neogene felsic pyroclastics.

The district has been known to host two types of mineralization: (i) cassiterite-bearing, greisen mineralization related to quartz-tourmaline-muscovite facies, and (ii) Pb–Zn–Fe bearing hydrothermal veins with variable concentrations of Ag, Sn and Sb. As such, the Srebrenica district shares many mineralogical similarities to those of the Andean Ag–Sn belt, Germany’s Freiberg-Erzgebirge district, the Lavrion deposit in Greece, and the Baia Mare Metallogenic District of East Carpathians, in Romania. The Srebrenica mineralization contains a comparable mineral assemblage to that of the San José Ag–Sn deposit, Oruro, Bolivia (cassiterite, stannite, pyrite, chalcopyrite, argentian tetrahedrite, galena and sphalerite).

The ore mineralization in Srebrenica is related to a syn-volcanic ring-radial fractures where hydrothermal ore veins are concentrated within four main systems of brecciated fractures: (i) the NE ore zone (Sase/Gross mine), (ii) the NW ore zone (Čumavići), (iii) the northern ore zone (Vitlovac), and (iv) the central ore system (Guber, Olovine). The origin of ore mineralization is genetically associated with a concealed plutonic body of S-type granitoid composition shallowly emplaced beneath the south-central part of the district.

Extensive greisen bodies are particularly well developed and composed of quartz, tourmaline and muscovite are found along the contact between the micro-granodiorites and Paleozoic slates. Tourmaline occurs as needle shaped, columnar and radiating aggregates. Greisens tend to be associated with endoskarns and indicate a proximal intrusive body with upper aureoles sealed shut to prevent fluids escaping. The Pb-Zn sulfides, accompanied by siderite, marcasite, sulfosalts and Ag sulfides are the dominant hydrothermal ore minerals, developed in the central part of the district, while in the peripheral parts there is mineralization associated with low-temperature epithermal veins (Sb, locally W, and Hg). The chief targets zones at Viogor presently include:

The Čumavići corridor comprises a series of shallow, high grade, intermediate sulphidation epithermal Ag-Au-Pb-Zn-Sb vein-hosted targets with over 7.2 km of strike-length and hosted by clastic and crystalline tuffs and pyroclastic breccias. The host volcanics have been crosscut by NW-SE trending structures and are part of the larger SMC magmatic-hydrothermal system. High-grade epithermal mineralization is silver and antimony dominant with further gold-lead-zinc tenure. Terra’s drilling has confirmed three polymetallic systems so far: Joševa, Čumavići Crest, and the flagship vein system at Čumavići Ridge. The Cumurnica and Kazani targets remain to be drill tested. Thus far, the average grade of polymetallic mineralization at the flagship Čumavići Ridge system, which has seen over 28 drill holes along 180 m of strike length, averages 485 g/t Ag Eq. over 4.0 m (March 2026 commodity prices). Mineralogically, the ore is characterized by sphalerite-stibnite-galena and further silver-rich sulphosalts that are associated with quartz and calcite veining and breccia cement. Epithermal mineralization occupies faults which crop out at surface as distinctive topographic lows, coinciding with magnetic lows and often with sulfides visible within fault gouge.
Brežani hosts components of a large, multidomain, magmatic-hydrothermal system discovered by airborne TEM-magnetic and geochemical surveys. It comprises a 650 m by 400 m large, retrograde, chlorite overprinted, Au-bearing skarn upon a shallowing, base metal rich, structurally controlled, intermediate sulfidation epithermal ore zone at depth. The BRE23001 through 23004 diamond drill holes were located within the Au-in-soil anomaly and were intended to assess lithological variability and grade of the Au skarn along strike. Additionally, the drillholes tested the resistive volume above an abrupt change into a central magnetic low shell within the general >95th percentile magnetic high anomaly to verify the lateral extent of 0.61 g/t Au Eq. drilled in the central BREDD002.

This particular discovery hole further intercepted ca. 20 m of fault-breccia hosted Ag-Sb-Zn mineralization at 480 m of depth grading upwards of 436 g/t Ag Eq. This intercept is coincident with a 1.2 km long EM conductor shallowing towards northeast and eventually surfacing at the topographic high of Brežani which was imaged during the 2021 TEM study. The mineralogical textures form the initial intercept pierced through the ore zone suggest a stratigraphic level that is apparently below the so-called “boiling zone” thus offering potential upside should one be intercepted up dip. The lateral extent of the 17-degree dipping conductor interpreted as the Sb-Ag-Zn mineralization is 1.2 km in length, up to 600 m in width and 20 m thick offers potential for a large tonnage ore body.

Shares for Debt

The Company has further agreed to settle outstanding debts in the amount of C$100,000 (the “Debt”) owing to two arm’s length creditors by issuing an aggregate of 1,666,666 common shares in the capital of the Company (the “Common Shares”) at a price of C$0.06 per Common Share (the “Shares for Debt Transaction”). The Board of Directors has determined it is in the best interests of the Company to settle the outstanding Debt by the issuance of the Common Shares in order to preserve the Company’s cash for ongoing operations.

Closing of the Shares for Debt Transaction is subject to customary closing conditions, and the Company intends to close as soon as practicable. The Common Shares to be issued pursuant to the Shares for Debt Transaction will be subject to a hold period of four (4) months and one (1) day from the date of issuance in accordance with applicable securities laws.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”). Dr. Mišković has reviewed and validated the information contained in this news release as factual and accurate.

About the Company

Terra Balcanica is a silver and antimony-focused polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 100% interest in the Viogor Project in eastern Bosnia and Herzegovina. Terra owns significant stake in Terra North Resources Corp. and its Canadian assets that comprise a 100% optioned portfolio of uranium-prospective claims surrounding the world-renowned Athabasca basin. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

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Terra Balcanica Closes Oversubscribed Private Placement Financing

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Terra Balcanica Announces Private Placement Financing

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2026 / Apr

Terra Balcanica Closes Oversubscribed Private Placement Financing

Vancouver, British Columbia – April 14^th 2026 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10; OTCQB:TEBAF) is pleased to announce closing of the non-brokered private placement financing (the “Offering”) of units (the “Units”) for gross proceeds of $439,370.41 Canadian.

The Company issued 8,787,408 Units at a price of C$0.05 per Unit pursuant to the Offering announced on March 23^rd, 2026. Each Unit consists of one common share in the capital of the Company (“Common Share”) and one Common Share purchase warrant (“Warrant”). Each Warrant issued in the Offering entitles the holder to purchase one Common Share at an exercise price of C$0.10 until April 14^th, 2028. Finders’ fees in the amount of C$12,950 were paid to arm’s length finders that located purchasers for the Offering. Additionally, 259,000 finders’ warrants were issued. The Company intends to use the proceeds of the Offering for land holding costs, to renew the mineral exploration properties in Bosnia and Herzegovina and for general working capital purposes.

Pursuant to applicable Canadian securities laws and the policies of the Canadian Securities Exchange (the “Exchange”), all securities issued and issuable in connection with the closing of the Offering are subject to a four (4) month hold period ending August 15^th, 2026. The Offering is subject to the policies and approval of the Exchange.

Dr. Aleksandar Mišković, Director and CEO of the Company (the “Insider”), purchased 300,000 Units as part of the Offering. The issuance of the Units to the Insider constitutes a “related party transaction” as this term is defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). There has not been a material change in the percentage of the outstanding securities of the Company that are owned by the Insider as a result of his participation in the Offering. The Company is relying on the exemption from the valuation requirement and minority approval requirement pursuant to subsection 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the Insider participation does not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The participation by the Insider in the Offering was approved by directors of the Company who are independent in connection with this transaction. No materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

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Terra Balcanica Announces Private Placement Financing

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Terra Balcanica Obtains Exploration Licence in Bosnia-Herzegovina

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2026 / Mar

Terra Balcanica Announces Private Placement Financing

Vancouver, British Columbia – March 23^rd 2026 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10; OTCQB:TEBAF) is pleased to announce the intent to complete a non-brokered private placement (the “Private Placement”) for gross proceeds of up to C$300,000 through the issuance of up to 6,000,000 units (each a “Unit”) at a purchase price of C$0.05 per Unit. Each Unit will be comprised of one common share in the capital of the Company (“Common Share”) and a Common Share purchase warrant (“Warrant”) to purchase an additional one common share of the Company (“Warrant Share”) at an exercise price of C$0.10 per Warrant Share for a period of 24 months from the closing date of the Private Placement (the “Closing Date”).

The Units will be offered by way of prospectus exemptions in Canada, in the United States pursuant to available exemptions from the registration requirements and in certain jurisdictions outside of Canada and the United States, as determined by the Company. The Common Shares, Warrants and Warrant Shares, if issued within four months of the Closing Date, will be subject to a hold period of four months plus one day from the Closing Date in accordance with applicable Canadian securities laws and the policies of the Canadian Securities Exchange if applicable. The Closing Date is expected to occur on or before April 3rd, 2026, subject to certain conditions, including any requisite approval of the Canadian Securities Exchange and certain other customary conditions including, but not limited to, execution of subscription agreements between the Company and the subscribers. In certain circumstances, the Company may pay finder’s fees in cash and warrants on a portion of the Private Placement. The Company intends to use the proceeds of the Private Placement for land holding costs and to renew the mineral exploration properties in Bosnia and Herzegovina.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

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Terra Balcanica Intercepts 607 g/t Ag Eq. Over 3.0 m and 670 g/t Ag Eq. Over 3.9 m at Cumavici in Bosnia and Herzegovina

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Terra Balcanica Closes Oversubscribed Private Placement Financing

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2026 / Mar

Terra Balcanica Intercepts 607 g/t Ag Eq. Over 3.0 m and 670 g/t Ag Eq. Over 3.9 m at Cumavici in Bosnia and Herzegovina

Vancouver, British Columbia – March 17^th 2026 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10; OTCQB:TEBAF) is pleased to announce additional high-grade assay results from the Phase III drill campaign at the Cumavici Ridge polymetallic, epithermal vein target within its Viogor-Zanik project in eastern Bosnia and Herzegovina.

Highlights

Drillhole CMV25005 intersected 607 g/t Ag Eq. over 3.0 m including:
- 842 g/t Ag Eq and 3.05% Sb over 1.7 m
Drillhole CMV25006 intersected 670 g/t Ag Eq. over 3.9 m including:
- 2115 g/t Ag Eq and 9.58% Sb over 1.0 m
Step out drillholes located 65 m northwest of CMV25004 which reported 636 g/t Ag Eq. over 4.3 m and 38 m SW of CMVD005 which intercepted 326 g/t Ag Eq. over 10 m;
Results confirm the high-grade nature and continuity of mineralisation at Cumavici Ridge along strike towards NW potentially linking it with the Cumavici Crest zone. Mineralization remains open down dip to southwest;
Cumavici Ridge-Crest fault-hosted system is one of the four targets along the largely untested, 5 km long corridor of Ag-rich, base metal mineralization.

Terra Balcanica’s CEO, Dr. Aleksandar (Alex) Mišković, commented:

Two additional drill intercepts confirm that we have begun to unequivocally define a tabular, high-grade body of silver-antimony dominant mineralization at Cumavici Ridge. With over two dozen positive drill holes spread over 180 m of along strike and testing the southwest-inclined structure to over 200 m down dip, Terra is now looking to drill test the linkage to the neighboring Cumavici Crest target and in doing so extend the mineralization to over 650 m along strike. Furthermore, in 2026, we are poised to drill previously untested Cumurnica target located only 1.5 km to the southwest.

Hole ID	From (m)	To (m)	Length (m)	Ag (g/t)	Au (g/t)	Sb (%)	Pb (%)	Zn (%)	Ag Eq. (g/t)
CMV25005	96.0	99.0	3.0	175	0.69	2.11	1.94	4.05	607
including	97.3	99.0	1.7	258	1.15	3.05	1.34	2.67	842
CMV25006	91.4	95.3	3.90	168	0.72	2.84	0.66	0.56	670
including	92.7	93.7	1.00	461	1.84	9.58	1.39	1.11	2115

Table 1. Assay results from drillholes CMV25003 and CMV25004 with the interval lengths reported as drilled lengths, not true widths given that true morphology of the mineralized zone is undetermined. Silver equivalents (“AgEq”) are based on assumed metal prices of US$5,000/oz for gold (Au), US$80/oz for silver (Ag), US$1.45/lb for zinc (Zn), US$20/lb for antimony (Sb) and US$0.86/lb for lead (Pb). Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and 94% Zn were applied to all the laboratory assays and are based on recent published metallurgical tests from analogous polymetallic deposits in Bosnia.

Figure 1. Photograph of PQ3 diameter core between 97.0 and 99.60 m downhole in CMV25005 (top) and between 90.8.0 and 93.60 m depth in CMV25006 (bottom).Massive, dark sulphide interval marked by green box in the lower box correlates to the high-grade Sb mineralization while banded, dark brown segment in the central part of the upper core box indicates Zn rich zone

Drillcore Observations

The mineralized intervals intercepted by drillholes CMV25005 and CMV25006 are examples of the typical high grade, massive sulphides of polymetallic nature encountered at Cumavici Ridge since 2022. Mineralization is typified by massive sulphides which can be broadly grouped into a silver-antimony rich, sulphosalts-dominant interval and a colloform banded brown grey, Pb-Zn rich interval of massive sphalerite and galena. The Ag-Sb mineralization, which includes the reported drillholes, is an example of a series of underexplored polymetallic veins that form part of a regional NW-SE trending epithermal system. Others include: Cumurnica, Joseva, and Seoce.

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
CMV25005	360133	4888481	610	-81.81	41.58	115.4	100
CMV25004	360133	4888481	610	-71.92	33.50	106.1	100

Table 2. Collar location and DDH data for the CMV25003/CMV25004 drillholes (WGS84/UTM 34N).

Figure 2. Geological map illustrating the drillholes at the Cumavici Ridge locality. AgEq values are labelled for selected 2022, 2023 and 2025 drill intercepts (See Company’s new releases dated 13 November 2023, 27 February 2023). The coordinate reference system is WGS84/UTM Zone 34N

Geology of Cumavici Ridge Target

The Cumavici license is dominated by volcanic rocks (tuffs and pyroclastic breccias) which have been crosscut by generally NW-SE trending structures and are part of a large epithermal mineral system. Mineralization is silver and antimony dominant with further gold-lead-zinc (Figure 1).

Terra’s drilling has confirmed three polymetallic systems so far: Joseva, Cumavici Crest, and the flagship vein system at Cumavici Ridge. The Cumurnica and Kazani targets remain to be drilled. Mineralisation is characterised by sphalerite-stibnite-galena and further sulphosalts minerals which are associated with quartz and calcite veining and breccia cement. The mineralisation occupies faults which crop out at surface as distinctive topographic lows, coinciding with magnetic lows and often with mineralisation visible within fault gouge.

QA/QC

Half PQ3 core samples were delivered to ALS Bor, Serbia for sample preparation and analysis at the ALS laboratory Loughrea, Ireland an ISO/IEC 17025:2017 certified testing laboratory. Sample preparation PREP-31BY method was used on all core samples. This involves crushing to 70% less than 2 mm, rotary split 1kg and pulverizing the split to greater than 85% passing 75 microns. Gold was assayed by 30g fire assay with ICP-AES finish (Au-ICP21). Analyses of silver and base metals were completed by highly oxidising digestion with HNO3, KClO3 and HBr (ASY-ORE) and the final solution in dilute aqua regia is determined by ICP-AES (ME-ICPORE). Control samples, comprising certified reference materials (CDN-ME-1811), and blanks were inserted at a rate of 9% and investigated as part of the company’s quality assurance and quality control program.

Qualified Person

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets owned by its subsidiary Terra North Resources Corp. comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

Download news release (.pdf)

Terra Balcanica Drills 636 g/t Ag Eq. Over 4.3 m at Cumavici Ridge in Bosnia and Herzegovina

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Terra Balcanica Announces Private Placement Financing

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2026 / Feb

Terra Balcanica Drills 636 g/t Ag Eq. Over 4.3 m at Cumavici Ridge in Bosnia and Herzegovina

Vancouver, British Columbia – February 23^rd 2026 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10; OTCQB:TEBAF) is pleased to announce further high-grade assay results from the Phase III drill campaign at the Cumavici Ridge polymetallic, epithermal vein zone within its principal Viogor-Zanik project in eastern Bosnia and Herzegovina.

Highlights

Drillhole CMV25004 intersected 636 g/t Ag Eq. over 4.3 m including:
- 1,757 g/t Ag Eq over 0.8 m;
- 1,319 g/t Ag Eq over 0.4 m
CMV25004 has tested new ground with the collar located 54m southeast of CMVDD003 which reported 465.5 g/t Ag Eq. over 8.7 m and 27 m SW of CMV23004 which reported 1,168 g/t Ag Eq. over 1.35 m;
Results confirm the high-grade nature and continuity of mineralisation at Cumavici Ridge, which marks just one vein system within the wider Cumavici license area;
Mineralization at Cumavici remains open along strike and down dip to southwest;
Additional Phase III drill testing of the Cumavici Ridge system continues.

Terra Balcanica’s CEO, Dr. Aleksandar (Alex) Mišković, commented:

Terra continues proving up our flagship shallow, fault hosted, epithermal system. The drill intercepts with individual samples up to 7.23% Sb, 23.4% Zn 3.69 g/t Au and 420 g/t Ag alongside 12.5% Pb attest to the exceptional base and precious metal endowment at Cumavici Ridge. The drilling will continue by focusing on the system extension westward and down dip. We are committed to advancing our portfolio of critical metals and remain an exceptional investment opportunity considering the proximity of our assets to the existing Sase mine infrastructure and our position adjacent to the European markets.

Hole ID	From (m)	To (m)	Length (m)	Ag (g/t)	Au (g/t)	Pb (%)	Sb (%)	Zn (%)	Ag Eq. (g/t)
CMV25004	62.50	66.80	4.3	101	1.16	1.81	2.13	3.55	636
including	63.60	64.40	0.80	146	3.32	0.94	7.23	2.89	1757
including	65.20	65.60	0.40	420	1.12	1.38	4.22	2.05	1319
CMV25003	76.40	80.50	4.10	33	0.14	0.44	0.28	0.81	108
including	78.90	79.10	0.20	587	1.69	1.28	4.70	1.63	1606

Table 1. Assay results from drillholes CMV25003 and CMV25004 with the interval lengths reported as drilled lengths, not true widths given that true morphology of the mineralized zone is undetermined. Silver equivalents (“AgEq”) are based on assumed metal prices of US$4,950/oz for gold (Au), US$77/oz for silver (Ag), US$1.49/lb for zinc (Zn), US$21/lb for antimony (Sb) and US$0.86/lb for lead (Pb). Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and 94% Zn were applied to all the laboratory assays and are based on recent published metallurgical tests from analogous polymetallic deposits in Bosnia.

Figure 1. Photograph of PQ3 diameter core between 61.0 and 66.70 downhole in CMV25004. Massive, dark sulphide intervals can be observed in the lower box, correlating to the Ag-Sb mineralization while banded honey brown segment in the central part of the upper core box indicates Zn-Pb rich zone.

Drillcore Observations

The mineralisation encountered in drillholes CMV25003 and CMV25004 are examples of the typical high grade, massive sulphides of polymetallic nature present within the Cumavici target. The Cumavici Ridge mineralization, which includes the reported drillholes is just one example of a series of underexplored polymetallic veins that form part of a regional NW/SE trending epithermal system. Mineralization is typified by massive sulphides which can be broadly grouped into a silver-antimony rich, sulphosalts-dominant interval and a colloform banded orange-purple zinc-lead interval of massive sphalerite-galena.

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
CMV25003	360187	4888450	603	-86.18	59.28	96.8	100
CMV25004	360184	4888450	602	-52.42	50.22	80.0	100

Table 2. Collar location and DDH data for the CMV25003/CMV25004 drillholes (WGS84/UTM 34N).

Figure 2. Geological map illustrating the drillholes at the Cumavici Ridge locality. AgEq values are labelled for selected 2022 and 2023 drill intercepts (See Company’s new releases dated 13 November 2023, 27 February 2023. The coordinate reference system is WGS84/UTM Zone 34N.

Geology of Cumavici Ridge

QA/QC

Qualified Person

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

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Terra Balcanica Drills Multiple Polymetallic Targets and Extends Mineralized Zones in Bosnia

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Terra Balcanica Intercepts 607 g/t Ag Eq. Over 3.0 m and 670 g/t Ag Eq. Over 3.9 m at Cumavici in Bosnia and Herzegovina

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2026 / Jan

Terra Balcanica Drills Multiple Polymetallic Targets and Extends Mineralized Zones in Bosnia

Vancouver, British Columbia – January 22^nd 2026 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10; OTCQB:TEBAF) is pleased to announce further assay results from the Phase III drill campaign at the Cumavici Ridge and Brezani targets within its principal Viogor-Zanik project in Bosnia and Herzegovina.

Highlights

The Brezani drillhole BRE25001A returned 0.43 g/t Au over 55 m from 12 m below surface thus extending gold mineralization to 170 m along strike in the N-S direction. Additional intercepts include:
- 0.62 g/t Au over 2.0 m from 98.5 m;
- 0.76 g/t Au over 1.5 m from 108 m;
- 1.06 g/t Au over 3.0 m from 139 m;
Successfully intercepting gold mineralization reinforces the multi-domain nature of Brezani as a structurally hosted, gold bearing skarn upon an epithermal, silver-antimony mineralization. Surface gold skarn at Brezani remains untested over 850 m wide soil anomaly (Figure 1). Significant shallow intercepts of gold from previous drilling were:
- 0.50 g/t Au over 88.0 m from surface (BREDD002);
- 0.27 g/t Au over 72.3 m from 22m (BRE23001);
- 0.62 g/t Au over 11.8 m from 9.8m including 1.03g/t Au over 6.65 m (BRE25004; see company news release from 20th August 2025);
The Brezani drillhole BRE25001 intercepted polymetallic epithermal mineralization returning 60 g/t AgEq. over 6.0 m from 158 m including 95 g/t AgEq. over 3.0 m from 161 m of depth. This confirms the continuity of a steep structure 92 m NE of the BREDD002 intercept returning 436 g/t AgEq. over 19.6 m (see company news release from 20th January 2025);
The Cumavici drillhole CMV25002 confirmed mineralization shallower than previously reported CMV25001 (Figure 2), marking continuation of the host structure and returning 186 g/t AgEq. over 0.5 m from 58.2 m (Figure 3).

Terra Balcanica’s CEO, Dr. Aleksandar (Alex) Mišković, commented:

The results from the initial stage of the Phase III drill program in Bosnia highlight extensions of the silver-dominated polymetallic and gold mineralization at both of our key targets. With increases in mineralized footprints at Cumavici and Brezani by close to 100 m along strike at each location, Terra is proving the size aspect of the shallow epithermal mineralization throughout the Viogor Zanik project. The Company is positioning itself as the holder of one of the best, silver-rich exploration assets in the Balkans and Europe. The full extent of the planned drilling meterage at Brezani is committed to as we resume testing Cumavici with rigs commencing work on location this week despite subzero temperatures.

Brezani is located 8.4 km south of the Mineco Ltd. Sase Mine which produces approximately 330 kt of lead-zinc-silver-gold concentrate per year (Figure 1). The target hosts components of a large magmatic-hydrothermal system discovered by airobrne TEM-magnetic and geochemical surveys. The BRE23001 through 23004 diamond drill holes are located within the Au-in-soil anomaly and were intended to assess lithological variability and grade of the Au skarn along strike. Additionally, the drillholes tested the resistive volume above an abrupt change into a central magnetic low shell within the general >95th percentile magnetic high anomaly to verify the lateral extent of 0.61 g/t Au Eq. In the central BREDD002 (Figure 3).

Drillhole	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Pb (%)	Sb (%)	Zn (%)	AgEq. (g/t)
BRE25001A	12.0	67.0	55.0	0.43	–	–	–	–	–
BRE25001	158.0	164.0	6.0	0.15	45	0.02	0.03	0.40	60
including	161.0	164.0	3.0	0.29	76	0.03	0.04	0.25	95
	283.6	289.5	5.9	0.26	12	0.01	0.11	0.06	43
CMV25002	58.2	58.7	0.5	1.32	78	0.26	0.23	0.65	186

Table 1. Assay results from drillhole BRE25001 and CMV25002 with the interval lengths reported as drilled lengths, not true widths. Silver equivalents (“AgEq.”) are based on assumed metal prices of US$4,500/oz for gold (Au), US$80/oz for silver (Ag), US$1.40/lb for zinc (Zn), US$20/lb for antimony (Sb) and US$0.9/lb for lead (Pb). Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests on analogous intermediate sulphidation epithermal vein deposits.

Brezani Phase III Drill Results

Two drillholes were completed at the Brezani Target in follow up to the discovery of polymetallic epithermal mineralization during the 2023 field season, with the intercept of 436 g/t AgEq. over 19.6 m from 482.1 m downhole in BREDD002. Both 2025 drillholes intercepted mineralised horizons associated with known skarn and epithermal systems.

Gold mineralization was confirmed again at Brezani with 0.43 g/t Au over 55 m from 12 m below surface. This correlates to the known retrograde altered skarn and calc-silicate hornfels discovered in 2022. Drilling has confirmed gold over 170 m N-S strike length (between BRE23001 and BRE25001) to date and sits within a >850 m long NW/SE trending gold in soil anomaly. The reconfirmation of thick gold intervals, just below surface is assuring, with the area still underexplored along strike. Previous gold intervals include 0.27g/t Au over 72.3 m from 22 m including 0.62 g/t Au over 7.5 m (BRE23001), 0.5g/t Au over 88.0m from surface (BREDD002) and 0.62 g/t Au over 11.8 m from 9.8 m (BRE23004).

Gold mineralization at Brezani is hosted by a chlorite-retrograde altered package of skarn and calc-silicate hornfels. The mineralised intercept in BRE25001A is composed of dioritic dykes, hydrothermal breccias and calc-silicate altered metasediments. The calc-silicates are fine to coarse grained pyroxene-garnet skarns and hornfels, with variable sulphide contents of pyrrhotite-pyrite-sphalerite-chalcopyrite and rare arsenopyrite. Highest sulphide and gold grades are observed close to the contact of diorite dykes and skarn.

The Ag-base metal epithermal mineralization was successfully intercepted in BRE25001. A series of structural zones were intercepted shallower than the anticipated target depth, indicating a steeper dip of the host structures to SW than previously interpreted. Similar banded quartz-carbonate sulphide veins were encountered, of which some were brecciated, with clasts of vein material cemented together by further quartz-carbonate-sulphide. BRE25001 returned 60 g/t AgEq. over 6.0 m from 158 m downhole.

Figure 1. Map of the 850m long gold in soil anomaly at Brezani which hosts excellent thicknesses of shallow, drill confirmed gold intercepts. The gold, hosted in skarns and calc-silicate hornfels is open along strike in all directions

Geology of the Cumavici Polymetallic Target

Drillhole CMV25002 was drilled at a shallower angle than CMV25001, which intersected 102g/t AgEq over 2.6 m. A similar thickness of structure was encountered in CVM25002, however dominated by fault gouge with clasts of sulphide mineralisation. The structure has been proven to continue towards surface and further northwest than previous drilling efforts. Follow up drilling will be conducted to the southeast, where previous drillholes returned thicker intervals of massive sulphide mineralisation within the same target structure. The Cumavici license is dominated by volcanic rocks (tuffs and pyroclastic breccias) which have been crosscut by NW-SE trending structures and are part of a large epithermal mineral system. Mineralization is silver and antimony dominant with further gold-lead-zinc (Figure 2).

The Phase III drilling has confirmed three polymetallic systems so far exploration at Cumavici: Joseva, Cumavici Crest, and the flagship vein system at Cumavici Ridge. Mineralization is characterised by sphalerite-stibnite-galena and further sulphosalts minerals which are associated with quartz and calcite veining and breccia cement. The mineralization occupies faults which crop out at surface as distinctive topographic lows, coinciding with magnetic lows and often with mineralization visible within fault gouge.

Figure 2. Photograph of PQ3 diameter core between 56.3 and 61.86m downhole in CMV25002. Dark grey clasts of Pb-Zn-Sb sulphide mineralization can be seen within fault gouge, correlating to the reported mineralized interval interval

Drillhole CMV25002 intersected the shallow target structure at Cumavici Ridge. The structure was marked by strong argillic alteration of the volcanic rocks in the hanging wall, progressing into abundant fault gouge (clay). Within the gouge interval clasts of altered tuff and sulphide mineralization was present, comprised of pyrite-sphalerite-galena-stibnite. Carbonate stringer veins were also noted.

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
CMV25002	360156	4888547	620	-52.5	46.7	91.2	99
BRE25001	368505	4880085	892	-71.1	341.3	306.7	97.8
BRE25001A	368507	4880081	892	-71.9	351	491.1	91.3

Table 2. Collar location and DDH data for the BRE25001, BRE25001A and CMV25002 drill holes reported in WGS84/UTM Zone 34N.

Figure 3. Geological map illustrating the drillholes at the Cumavici Ridge locality. The AgEq. values are labelled for selected 2022 and 2023 drill intercepts (see Company’s new releases dated 13 November 2023, 27 February 2023). Current drilling efforts confirm mineralization over 95 m NW-SE strike length. (WGS84/UTM Zone 34N);

QA/QC

Half PQ3 core samples were delivered to ALS Bor, Serbia for sample preparation and analysis at the ALS laboratory Loughrea, Ireland an ISO/IEC 17025:2017 certified testing laboratory. Sample preparation PREP-31BY method was used on all core samples. This involves crushing to 70% less than 2 mm, rotary split 1kg and pulverizing the split to greater than 85% passing 75 microns. Gold was assayed by 30g fire assay with ICP-AES finish (Au-ICP21). Analyses of silver and base metals were completed by highly oxidising digestion with HNO3, KClO3 and HBr (ASY-ORE) and the final solution in dilute aqua regia is determined by ICP-AES (ME-ICPORE). Control samples, comprising certified reference materials (CDN-ME-1811), and blanks were inserted at a rate of 10.2% and investigated as part of the company’s quality assurance and quality control program.

Qualified Person

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and norther Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

Download news release (.pdf)

Assays:

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Drillhole	Sample ID	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Zn (%)	Pb (%)	Sb (%)
BRE25001	106663	143	145	2.0	0.13	2	0.01	0.01	0.01
BRE25001	106664	145	146	1.0	0.06	1	0.01	0.01	0.01
BRE25001	106665	146	147	1.0	0.06	2	0.02	0.00	0.01
BRE25001	106666	147	148	1.0	0.10	4	0.04	0.01	0.02
BRE25001	106667	148	149	1.0	0.64	12	0.73	0.01	0.03
BRE25001	106668	149	150	1.0	0.20	5	0.12	0.01	0.01
BRE25001	106669	150	151	1.0	0.15	2	0.28	0.00	0.01
BRE25001	106670	151	152	1.0	0.04	1	0.31	0.00	0.00
BRE25001	106671	152	153	1.0	0.08	1	0.48	0.00	0.00
BRE25001	106672	153	154	1.0	0.35	5	0.39	0.01	0.01
BRE25001	106673	154	156	2.0	0.09	8	0.53	0.02	0.01
BRE25001	106675	156	157.5	1.5	0.03	7	0.54	0.01	0.01
BRE25001	106676	157.5	158	0.5	0.01	9	0.57	0.01	0.01
BRE25001	106677	158	159	1.0	0.01	17	0.54	0.01	0.02
BRE25001	106678	159	160	1.0	0.02	25	0.62	0.03	0.04
BRE25001	106679	160	161	1.0	0.02	2	0.50	0.00	0.01
BRE25001	106680	161	161.8	0.8	0.48	103	0.67	0.06	0.09
BRE25001	106681	161.8	163	1.2	0.22	15	0.10	0.01	0.02
BRE25001	106682	163	164	1.0	0.22	127	0.09	0.04	0.03
BRE25001	106683	164	165.6	1.6	0.11	4	0.01	0.02	0.03
BRE25001	106684	165.6	166	0.4	0.10	5	0.01	0.02	0.03
BRE25001	106685	166	167	1.0	0.07	11	0.02	0.02	0.03
BRE25001	106686	167	168	1.0	0.08	6	0.09	0.04	0.06
BRE25001	106687	168	169	1.0	0.17	6	0.01	0.04	0.05
BRE25001	106689	169	170	1.0	0.15	4	0.01	0.01	0.02
BRE25001	106690	170	171	1.0	0.08	3	0.02	0.01	0.02
BRE25001	106691	171	172	1.0	0.08	3	0.01	0.01	0.01
BRE25001	106692	172	172.8	0.8	0.07	1	0.03	0.01	0.01
BRE25001	106703	186	188	2.0	0.42	1	0.02	0.02	0.01
BRE25001	106704	188	190	2.0	0.09	0	0.01	0.01	0.01
BRE25001	106706	190	192	2.0	0.03	0	0.01	0.01	0.01
BRE25001	106707	192	194	2.0	0.05	0	0.01	0.01	0.01
BRE25001	106708	194	196	2.0	0.02	0	0.01	0.01	0.01
BRE25001	106709	196	197	1.0	0.03	0	0.01	0.01	0.01
BRE25001	106710	197	198	1.0	0.05	1	0.01	0.01	0.01
BRE25001	106711	198	199	1.0	0.04	0	0.01	0.01	0.01
BRE25001	106712	199	200	1.0	0.03	0	0.01	0.01	0.01
BRE25001	106713	200	201	1.0	0.02	0	0.00	0.01	0.01
BRE25001	106714	201	202	1.0	0.52	0	0.01	0.01	0.02
BRE25001	106715	202	203	1.0	0.12	1	0.01	0.02	0.02
BRE25001	106716	203	204	1.0	0.19	1	0.01	0.01	0.02
BRE25001	106717	204	205	1.0	0.06	1	0.01	0.01	0.07
BRE25001	106718	205	206	1.0	0.08	1	0.01	0.01	0.04
BRE25001	106720	206.2	207	0.8	0.05	0	0.03	0.01	0.01
BRE25001	106721	207	209	2.0	0.01	0	0.01	0.01	0.01
BRE25001	106722	209	210.8	1.8	0.02	0	0.02	0.01	0.01
BRE25001	106723	210.8	211.6	0.8	0.02	1	0.01	0.01	0.01
BRE25001	106724	211.6	212.6	1.0	0.04	0	0.01	0.00	0.02
BRE25001	106725	212.6	213.6	1.0	0.01	0	0.00	0.00	0.02
BRE25001	106726	213.6	214.3	0.7	0.04	0	0.01	0.00	0.01
BRE25001	106727	214.3	215	0.7	0.03	0	0.01	0.00	0.01
BRE25001	106728	215	216	1.0	0.04	1	0.03	0.01	0.01
BRE25001	106729	216	217	1.0	0.04	0	0.01	0.01	0.00
BRE25001	106730	217	218	1.0	0.05	0	0.01	0.00	0.01
BRE25001	106731	218	219	1.0	0.02	0	0.01	0.01	0.01
BRE25001	106732	219	220	1.0	0.05	1	0.01	0.01	0.02
BRE25001	106733	220	221	1.0	0.16	2	0.01	0.00	0.02
BRE25001	106734	221	222	1.0	0.12	2	0.01	0.01	0.02
BRE25001	106737	222	223	1.0	0.05	1	0.01	0.01	0.01
BRE25001	106738	223	224	1.0	0.03	0	0.01	0.01	0.00
BRE25001	106739	224	225	1.0	0.05	0	0.01	0.01	0.01
BRE25001	106740	225	226	1.0	0.07	0	0.01	0.01	0.01
BRE25001	106775	283	283.6	0.6	0.02	1	0.03	0.02	0.02
BRE25001	106776	283.6	284.3	0.7	0.27	14	0.07	0.02	0.08
BRE25001	106777	284.3	285.7	1.4	0.30	21	0.09	0.02	0.18
BRE25001	106778	285.7	286.4	0.7	0.21	8	0.04	0.01	0.04
BRE25001	106779	286.4	287.8	1.4	0.30	7	0.06	0.01	0.19
BRE25001	106781	287.8	288.8	1.0	0.24	13	0.06	0.01	0.02
BRE25001	106782	288.8	289.5	0.7	0.16	7	0.03	0.01	0.04
BRE25001A	106849	0	3	3.0	0.09	0	0.02	0.01	0.00
BRE25001A	106850	3	6	3.0	0.08	0	0.02	0.01	0.00
BRE25001A	106851	6	9	3.0	0.04	0	0.02	0.01	0.00
BRE25001A	106852	9	12	3.0	0.06	0	0.03	0.02	0.00
BRE25001A	106853	12	15	3.0	0.08	0	0.03	0.01	0.00
BRE25001A	106854	15	18	3.0	0.16	0	0.05	0.01	0.00
BRE25001A	106856	18	21.3	3.3	0.12	0	0.07	0.01	0.00
BRE25001A	106792	21.3	23	1.7	0.90	0	0.07	0.00	0.00
BRE25001A	106793	23	25	2.0	0.49	0	0.10	0.00	0.00
BRE25001A	106795	25	26.9	1.9	0.81	1	0.65	0.03	0.00
BRE25001A	106796	26.9	28	1.1	0.32	0	0.07	0.00	0.00
BRE25001A	106797	28	28.9	0.9	0.71	0	0.33	0.00	0.00
BRE25001A	106798	28.9	30	1.1	0.52	0	0.95	0.01	0.00
BRE25001A	106799	30	30.8	0.8	0.22	0	0.08	0.01	0.00
BRE25001A	106800	30.8	32	1.2	0.69	0	0.06	0.01	0.00
BRE25001A	106801	32	33	1.0	0.55	0	0.07	0.00	0.00
BRE25001A	106802	33	34	1.0	0.93	0	0.04	0.00	0.00
BRE25001A	106803	34	35	1.0	1.20	1	0.08	0.03	0.00
BRE25001A	106804	35	36	1.0	0.48	1	0.27	0.03	0.00
BRE25001A	106805	36	37	1.0	0.51	0	0.05	0.00	0.00
BRE25001A	106857	37	38	1.0	0.32	0	0.04	0.00	0.00
BRE25001A	106858	38	39	1.0	0.45	0	0.05	0.00	0.00
BRE25001A	106859	39	40	1.0	0.42	0	0.04	0.00	0.00
BRE25001A	106860	40	41	1.0	0.31	0	0.04	0.00	0.00
BRE25001A	106861	41	42	1.0	0.28	0	0.03	0.00	0.00
BRE25001A	106862	42	43	1.0	0.50	0	0.04	0.01	0.00
BRE25001A	106863	43	44	1.0	0.55	0	0.05	0.00	0.00
BRE25001A	106864	44	45	1.0	1.07	0	0.08	0.01	0.00
BRE25001A	106806	45	46	1.0	0.60	0	0.05	0.00	0.01
BRE25001A	106807	46	47	1.0	0.33	6	0.19	0.01	0.20
BRE25001A	106808	47	48	1.0	0.56	0	0.03	0.00	0.01
BRE25001A	106865	48	49	1.0	0.71	0	0.02	0.00	0.01
BRE25001A	106866	49	50	1.0	1.51	0	0.01	0.00	0.00
BRE25001A	106867	50	51	1.0	0.92	0	0.02	0.01	0.00
BRE25001A	106868	51	52	1.0	0.22	0	0.03	0.01	0.00
BRE25001A	106869	52	53	1.0	0.47	0	0.01	0.00	0.00
BRE25001A	106871	53	54	1.0	0.22	0	0.02	0.00	0.00
BRE25001A	106872	54	55	1.0	0.19	0	0.13	0.00	0.02
BRE25001A	106873	55	56	1.0	0.22	0	0.04	0.01	0.00
BRE25001A	106874	56	57	1.0	0.16	0	0.02	0.01	0.00
BRE25001A	106875	57	58	1.0	0.19	0	0.03	0.00	0.00
BRE25001A	106876	58	59	1.0	0.30	0	0.02	0.01	0.00
BRE25001A	106877	59	60	1.0	0.32	0	0.05	0.01	0.00
BRE25001A	106878	60	61	1.0	0.15	0	0.07	0.01	0.00
BRE25001A	106879	61	62	1.0	0.28	0	0.02	0.01	0.00
BRE25001A	106880	62	63	1.0	0.29	0	0.01	0.01	0.00
BRE25001A	106908	63	65	2.0	0.19
BRE25001A	106909	65	67	2.0	0.08
BRE25001A	106910	67	69	2.0	0.03
BRE25001A	106911	69	71	2.0	0.05
BRE25001A	106912	71	73	2.0	0.04
BRE25001A	106913	73	74.5	1.5	0.06
BRE25001A	106915	74.5	75.9	1.4	0.03
BRE25001A	106916	75.9	77.5	1.6	0.12
BRE25001A	106917	77.5	79.2	1.7	0.12
BRE25001A	106918	79.2	81	1.8	0.03
BRE25001A	106919	81	83	2.0	0.29
BRE25001A	106920	83	85	2.0	0.08
BRE25001A	106921	85	87	2.0	0.10
BRE25001A	106922	87	89	2.0	0.07
BRE25001A	106923	89	91	2.0	0.20
BRE25001A	106924	91	92.4	1.4	0.27
BRE25001A	106925	92.4	93.8	1.4	0.19
BRE25001A	106926	93.8	95.3	1.5	0.19
BRE25001A	106927	95.3	96.8	1.5	0.24
BRE25001A	106928	96.8	98.5	1.7	0.15
BRE25001A	106930	98.5	100.5	2.0	0.63
BRE25001A	106931	100.5	102	1.5	0.20
BRE25001A	106932	102	103.5	1.5	0.09
BRE25001A	106809	103.5	104.5	1.0	0.15	3	0.09	0.01	0.01
BRE25001A	106811	104.5	105.5	1.0	0.08	6	0.05	0.01	0.01
BRE25001A	106812	105.5	106.5	1.0	0.09	5	0.03	0.01	0.03
BRE25001A	106813	106.5	108	1.5	0.06	9	0.05	0.04	0.04
BRE25001A	106814	108	109.5	1.5	0.76	11	0.42	0.02	0.62
BRE25001A	106815	109.5	110.5	1.0	0.23	4	0.14	0.01	0.01
BRE25001A	106816	110.5	111.5	1.0	0.17	5	0.08	0.01	0.01
BRE25001A	106817	111.5	112.5	1.0	0.13	5	0.04	0.00	0.01
BRE25001A	106818	112.5	113.5	1.0	0.14	13	0.09	0.01	0.01
BRE25001A	106819	113.5	115.5	2.0	0.13	4	0.09	0.00	0.01
BRE25001A	106820	115.5	117.5	2.0	0.11	3	0.05	0.02	0.02
BRE25001A	106821	117.5	119.5	2.0	0.11	2	0.03	0.02	0.02
BRE25001A	106822	119.5	122	2.5	0.11	1	0.02	0.01	0.01
BRE25001A	106823	125.5	127	1.5	0.06	1	0.04	0.01	0.01
BRE25001A	106824	127	128.5	1.5	0.05	1	0.02	0.01	0.00
BRE25001A	106826	128.5	130	1.5	0.02	0	0.02	0.01	0.01
BRE25001A	106827	130	131.5	1.5	0.03	1	0.02	0.01	0.01
BRE25001A	106828	131.5	133	1.5	0.10	0	0.01	0.01	0.01
BRE25001A	106829	133	134.5	1.5	0.21	1	0.02	0.03	0.01
BRE25001A	106830	134.5	135.5	1.0	0.01	1	0.02	0.02	0.01
BRE25001A	106831	135.5	137	1.5	0.05	1	0.02	0.01	0.01
BRE25001A	106832	137	138	1.0	0.02	0	0.01	0.01	0.01
BRE25001A	106833	138	139	1.0	0.06	0	0.01	0.01	0.01
BRE25001A	106834	139	140	1.0	2.02	0	0.02	0.01	0.00
BRE25001A	106835	140	142	2.0	0.58	0	0.02	0.01	0.00
BRE25001A	106836	142	144	2.0	0.05	0	0.01	0.00	0.01
BRE25001A	106837	144	145	1.0	0.07	0	0.02	0.00	0.01
BRE25001A	106838	145	146	1.0	0.10	0	0.01	0.00	0.01
BRE25001A	106839	146	147	1.0	0.07	0	0.03	0.01	0.00
BRE25001A	106841	147	148	1.0	0.05	0	0.03	0.01	0.01
BRE25001A	106842	148	149	1.0	0.04	0	0.01	0.01	0.01
BRE25001A	106843	149	150	1.0	0.02	0	0.01	0.01	0.01
BRE25001A	106844	150	151	1.0	0.11	0	0.02	0.01	0.01
BRE25001A	106845	151	152.3	1.3	0.10	0	0.02	0.01	0.01
BRE25001A	106846	152.3	155.5	3.2	0.09	1	0.05	0.01	0.01
BRE25001A	106847	155.5	157	1.5	0.01	0	0.02	0.01	0.00
BRE25001A	106881	222.4	224	1.6	0.08	3	0.09	0.02	0.02
BRE25001A	106882	224	225	1.0	0.09	5	0.02	0.01	0.01
BRE25001A	106883	225	226	1.0	0.09	4	0.05	0.01	0.01
BRE25001A	106885	226	227	1.0	0.13	18	0.04	0.01	0.04
BRE25001A	106886	227	228	1.0	0.70	12	0.09	0.01	0.24
BRE25001A	106887	228	229	1.0	0.56	3	0.06	0.01	0.03
BRE25001A	106888	229	230	1.0	0.15	3	0.02	0.01	0.01
BRE25001A	106889	230	232.2	2.2	0.10	3	0.01	0.00	0.01
BRE25001A	106890	232.2	233	0.8	0.18	14	0.25	0.01	0.02
BRE25001A	106891	233	234	1.0	0.14	14	0.04	0.01	0.02
BRE25001A	106892	234	235	1.0	0.12	5	0.04	0.01	0.01
BRE25001A	106893	235	236	1.0	0.11	12	0.01	0.00	0.01
BRE25001A	106894	236	237	1.0	0.08	13	0.01	0.01	0.01
BRE25001A	106895	237	238	1.0	0.05	6	0.01	0.00	0.01
BRE25001A	106896	238	240	2.0	0.10	6	0.02	0.01	0.01
BRE25001A	106897	240	244	4.0	0.12	4	0.03	0.00	0.04
BRE25001A	106898	244	246	2.0	0.19	2	0.01	0.00	0.03
BRE25001A	106899	246	247.5	1.5	0.22	0	0.00	0.00	0.06
BRE25001A	106902	247.5	248.7	1.2	0.25	0	0.02	0.00	0.06
BRE25001A	106903	248.7	249.4	0.7	0.07	5	0.03	0.01	0.01
BRE25001A	106904	249.4	250.6	1.2	0.36	0	0.10	0.01	0.03
BRE25001A	106905	250.6	251.6	1.0	0.54	6	0.17	0.01	0.03
BRE25001A	106906	251.6	252.5	0.9	0.15	3	0.02	0.01	0.05
BRE25001A	106907	252.5	253.5	1.0	0.01	1	0.02	0.01	0.01
CMV25002	106955	54	55	1.0	0.01	1	0.05	0.01	0.00
CMV25002	106956	55.0	56.0	1.0	0.00	1	0.02	0.00	0.00
CMV25002	106957	56.0	57.0	1.0	0.00	1	0.01	0.00	0.00
CMV25002	106958	57.0	58.2	1.2	0.01	1	0.09	0.03	0.00
CMV25002	106960	58.2	58.7	0.5	1.32	78	0.65	0.26	0.23
CMV25002	106961	58.7	59.7	1.0	0.11	2	0.12	0.03	0.02
CMV25002	106962	59.7	60.7	1.0	0.31	9	0.04	0.01	0.01
CMV25002	106963	60.7	61.7	1.0	0.31	9	0.04	0.01	0.02
CMV25002	106964	61.7	62.7	1.0	0.19	8	1.04	0.13	0.03
CMV25002	106965	62.7	63.7	1.0	0.15	14	0.75	0.27	0.19
CMV25002	106966	63.7	64.7	1.0	0.00	1	0.03	0.01	0.01
CMV25002	106967	64.7	65.7	1.0	0.01	1	0.02	0.01	0.01
CMV25002	106968	65.7	66.7	1.0	0.05	10	0.33	0.05	0.28
CMV25002	106969	66.7	67.7	1.0	0.01	1	0.04	0.01	0.00
CMV25002	106970	67.7	68.7	1.0	0.00	1	0.02	0.00	0.00
CMV25002	106971	68.7	69.7	1.0	0.00	1	0.06	0.01	0.00
CMV25002	106973	69.7	70.6	0.9	0.00	1	0.11	0.02	0.00

Terra Balcanica Drills 102 g/t Ag Eq Over 2.55 m at Cumavici Ridge and Extend Mineralized Footprint in Bosnia and Herzegovina

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Terra Balcanica Drills 636 g/t Ag Eq. Over 4.3 m at Cumavici Ridge in Bosnia and Herzegovina

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2026 / Jan

Terra Balcanica Drills 102 g/t Ag Eq Over 2.55 m at Cumavici Ridge and Extend Mineralized Footprint in Bosnia and Herzegovina

Vancouver, British Columbia – January 15^th 2026 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10; OTCQB:TEBAF) is pleased to announce initial high-grade assay results from the Phase III drill campaign at Cumavici Ridge epithermal vein zone within its principal Viogor-Zanik project in Bosnia and Herzegovina.

Highlights

Drillhole CMV25001 intersected 102g/t Ag Eq. over 2.55 m within a broader zone of 64 g/t Ag Eq. over 4.7 m from 66m (Table 1) and including 0.4 m wide epithermal mineralized zone with 453 g/t Ag Eq. over 0.4 m;
Strike length extended to 95m from CMV23004 which returned 1168 g/t AgEq over 1.35 m. Further drilling at Cumavici returned highlights of:
- 505 g/t AgEq over 11 m (CMVDD004)
- 824.2g/t AgEq over 4m (CMVDD001)
- 284g/t AgEq over 10m (CMVDD005; see company news releases dated 8^th September 22^nd October 2022 as well as 2^nd and 27^th February 2023);
The mineralization remains open northwest and down-dip to the southwest;
Additional Phase III assays from diamond drillholes at Cumavici Ridge and Brezani targets will be released imminently.

Terra Balcanica’s CEO, Dr. Aleksandar (Alex) Mišković, commented:

We are very pleased to have extended the footprint at the high-grade Chumavichi Ridge system by continuing to intercept the mineralized horizon. Again, the epithermal, fault hosted mineralization was intercepted shallowly highlighting the potential of this SW-dipping structure, a high-grade, close-to-surface silver and base metal rich target. Our work testing the along-strike and down-dip extent of the Cumavici mineralization continues with more assays which Terra will report soon.

Hole ID	From (m)	To (m)	Length (m)	Ag (g/t)	Au (g/t)	Pb (%)	Sb (%)	Zn (%)	Ag Eq. (g/t)
CMV25001	66.0	70.7	4.7	27.3	0.24	0.37	0.11	0.49	64
including	67.0	69.55	2.55	46.4	0.36	0.58	0.17	0.82	102
including	69.15	69.55	0.40	240	1.62	0.93	0.58	4.12	453

Table 1. Assay results from drillhole CMV25001 with the interval lengths reported as drilled lengths, not true widths. Silver equivalents (“AgEq”) are based on assumed metal prices of US$4,500/oz for gold (Au), US$80/oz for silver (Ag), US$1.40/lb for zinc (Zn), US$20/lb for antimony (Sb) and US$0.9/lb for lead (Pb). Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests on analogous intermediate sulphidation epithermal vein deposits

Figure 1. Photograph of PQ3 diameter core between 64.3 and 72.4m downhole in CMV25001. Dark sulphide veining and breccia cement can be observed, correlating to the reported mineralised interval.

Drillcore Observations

The zone of mineralization from 64 m to 73 m (Figure 1) is characterized by a fault-hosted hydrothermal breccia. The structure crosscuts a package of andesites and volcanic tuffs. This has created breccia and fault gouge is present at the margins of the structure which hosts the mineralisation. A 0.4m interval from 69.1m presents as massive sulphides of sphalerite-galena-stibnite-pyrite with sulphide stringers extending into the clay altered volcanics in the hanging and footwall of the host structure. Drilling has importantly confirmed further continuation of the Cumavici mineralisation, which was confirmed as present on Cumavici Crest over 500 m NW.

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
CMV25001	360156	4888547	620	-85	46.7	91.2	99

Table 2. Collar location and DDH data for the BRE25001 drill hole reported in WGS84/UTM Zone 34N.

Geology of Cumavici

Figure 2. Geological map illustrating the drillholes at the Cumavici Ridge locality. AgEq values are labelled for selected 2022 and 2023 drill intercepts (See Company’s new releases dated 13 November 2023, 27 February 2023). Current drilling efforts confirm mineralization over 95 m NW/SE strike length. (WGS84/UTM Zone 34N;

The Phase III drilling has confirmed 3 polymetallic systems so far exploration at Cumavici. Joseva, Cumavici Crest, and the flagship vein system at Cumavici Ridge. Mineralisation is characterised by sphalerite-stibnite-galena and further sulphosalts minerals which are associated with quartz and calcite veining and breccia cement. The mineralisation occupies faults which crop out at surface as distinctive topographic lows, coinciding with magnetic lows and often with mineralisation visible within fault gouge.

QA/QC

Qualified Person

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and norther Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets owned by its subsidiary comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

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Terra Balcanica Announces Proposed Spin-Out of Terra North Resources Corp.

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Terra Balcanica Drills Multiple Polymetallic Targets and Extends Mineralized Zones in Bosnia

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2025 / Dec

Terra Balcanica Announces Proposed Spin-Out of Terra North Resources Corp.

Vancouver, British Columbia – December 15^th 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10; OTCQB:TEBAF) is pleased to announce that its Board of Directors has approved, in principle, a corporate reorganization (the “Spin-Out Transaction”) whereby the Company plans to spin out its Canadian uranium assets into a wholly-owned subsidiary, Terra North Resources Corp. (“Terra North”).

The proposed spin-out transaction is expected to include the following steps:

Terra will transfer its 591 km2 Saskatchewan uranium portfolio, including the Charlot–Neely Lake claim cluster located in the Uranium City district, to Terra North, in consideration for 15,000,000 common shares of Terra North;
Terra North will complete a series of private placement financings to fund the 2026 exploration program on the uranium properties (Figure 1), and provide for other 2026-27 working capital requirements;
Terra North will distribute a portion of the Terra North Shares held by it to its shareholders on a pro rata basis as a return of capital;
Terra North will apply to list its common shares on the Canadian Securities Exchange (the “CSE”), targeting a listing in Q2 2026, subject to receipt of regulatory approvals.

Terra North has engaged Dahrouge Consulting Inc. of Edmonton, Alberta to complete a NI 43-101 compliant technical report on the Charlot–Neely Lake property, which will support the Spin-Out Transaction and anticipated CSE listing. Furthermore, Terra North has engaged Maxis Law Corporation of Vancouver, BC to provide legal counsel and facilitate the Spin-Out Transaction.

The Company intends to provide additional details regarding the structure, share distribution ratio, and timing of the spin-out once final terms are determined, and all regulatory and corporate approvals have been obtained. Completion of the Spin-Out Transaction will be subject to shareholder approval, CSE approval, and applicable securities and corporate law requirements.

Terra Balcanica’s CEO, Dr. Aleksandar (Alex) Mišković, stated:

The spin-out of Terra North positions our uranium portfolio within a focused exploration vehicle while allowing Terra to continue advancing its European projects. We are thus becoming exposed to scarce critical metals with significant projected upside in the coming decade such as antimony, silver, zinc, uranium and REEs. This structure is designed to unlock value for Terra shareholders through direct exposure to the exploration upside of the Canadian assets, while minimizing dilution of Terra shareholders by raising funding for Canadian exploration activity directly in Terra North. We are excited to hit the ground in the late spring of 2026 with a robust $2M exploration budget that will include multiple geophysical surveys and a follow up ground-truthing fieldwork.

Figure 1. The Athabasca Basin tenement map with the key Terra North Resources Corp. claim clusters located in the Beaverlodge District north of Uranium City and along the NE-SW trending Snowbord Tectnic Zone while the South Pendleton claims are found on the SE margin of the Athabasca Basin.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

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Terra Balcanica Completes 1200 m of Phase III Drilling at Silver-Antimony Targets in Bosnia and Herzegovina

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Terra Balcanica Drills 102 g/t Ag Eq Over 2.55 m at Cumavici Ridge and Extend Mineralized Footprint in Bosnia and Herzegovina

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2025 / Dec

Terra Balcanica Completes 1200 m of Phase III Drilling at Silver-Antimony Targets in Bosnia and Herzegovina

Vancouver, British Columbia – December 12^th 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10; OTC:TEBAF) is pleased to announce the completion of the 1^st stage of its 2,100 m Phase III drilling program at the Brezani and Chumavichi targets within its polymetallic Viogor-Zanik project in Bosnia and Herzegovina.

Highlights

Approximately 1,200 m of oriented, diamond core drilling was conducted at the Brezani and Chumavichi targets within Terra’s 168 km2 project in eastern Bosnia;
Drillholes BRE25001 and BRE25001A, positioned 72 m NE of the discovery hole BREDD002 which returned 19.6 m at 436 g/t AgEq (see company news release dated 20th January 2025), have both intercepted a ca. 50-60 m interval of retrograde altered skarn, the host of the previously reported 0.61g/t AuEq over 88m (see company news release dated 24th January 2023), as well as several structural zones hosting intermediate sulphidation epithermal mineralization;
Drillholes CMV25001 through 25004 have intercepted multiple zones of shallow, massive sulphide and quartz-sulphide, vein-hosted mineralization in the hanging and footwall of the SW dipping Chumavichi structure, all above 80 m depth;
Epithermal mineralization encountered at both targets is polymetallic (Ag-Sb-Zn-Pb-Au) as confirmed by sulphide observations and pXRF. Key mineralized intervals have been sequentially sampled and are pending assay completion;
The complete lithogeochemical assays will be reported after the laboratory data is received in its entirety.

Aleksandar Mišković, President and CEO of the Company comments:

We are pleased to have completed over a half of the planned meterage despite numerous setback and technical challenges which made the 2025 drilling campaign longer than anticipated. Moreover, we are pleased with the intercepted structures and mineralogies observed while logging the core both at Brezani and Chumavichi. The Terra exploration hypothesis about the extension of the base-metal dominated, epithermal mineralization above the NE shallowing conductor at Brezani which was initially interpreted to have served as a fault-hosted fluid conduit continues to be refined in the light of new 3D data. We will proceed towards testing the main Ag-Sb-Zn-As-Bi soil anomaly with additional drillholes. Simultaneously, we shall continue to push ahead with meaningful step outs at the Chumavichi system towards NW. Our drilling team is set to resume the Phase III operations in January of 2026 immediately after the laboratory assays are released to the public.

Phase III Drilling

The 2025 drilling program follows up on high grade, polymetallic mineralizations which Terra has previously discovered, namely at Brezani and Chumavichi targets, Viogor-Zanik Project, Eastern Bosnia. Phase III aims to increase geological knowledge at both localities which have provided outstanding drilling results to date.

The Brezani discovery, is a two-part story. Initial drilling revealed 88m from surface of 0.61g/t AuEq (0.60 g/t Au) within a retrograde altered skarn and hornfels package, which remains completely open along strike within an 850m long gold in soil anomaly. Deeper drilling in BREDD002 discovered an epithermal system, returning 19.6 m at 436 g/t AgEq with 2025 drilling intersecting similar styles of mineralization indicating the epithermal structures are numerous and trend towards surface where an epithermal assemblage soil anomaly exists, offering shallow follow up targets.

The Chumavichi target represents a district scale corridor of epithermal mineralization, with at least 3 separate vein systems confirmed by Terra’s drilling to date. Previous drilling at Chumavichi returned grades of 824.2g/t AgEq over 4 m (CMVDD001), 505.3g/t AgEq over 11 m (CMVDD004) and 284g/t AgEq over 10 m (CMVDD005; see news release dated September 8th October 22nd, 2022, February 2nd and 27th 2023). Vein hosted mineralisation remains open along strike and untested down-dip and highlights clear exploration upside for discovery of further silver and antimony rich sulphides. The 2025 drilling at Chumavichi has encountered similar sulphides to previously reported drillholes, adding to the story at this exciting epithermal target.

Drilling progressed steadily despite challenging ground conditions with over 94% average core recovery achieved.

Qualified Person

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the use of proceeds for the Offering. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Offering; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

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Terra Balcanica To Present at the Clean Energy Metals Virtual Investor Conference

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Terra Balcanica Announces Proposed Spin-Out of Terra North Resources Corp.

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2025 / Aug

Terra Balcanica To Present at the Clean Energy Metals Virtual Investor Conference

Vancouver, British Columbia – August 22^nd 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10; OTCQB:TEBAF) is pleased to announce participation at the at the Clean Energy Metals Virtual Investor Conference hosted by VirtualInvestorConferences.com, on August 28^th, 2025.

DATE: August 28^th
TIME: 12:30 pm EST
LINK: Register here

Dr. Alex Mišković, P.Geo., the President & CEO, will be available for 1×1 meetings: August 28^th and September 3^rd, 2025.

This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to attend the event live on the day of the conference, an archived webcast will also be made available after the event.

It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

Learn more about the event at www.virtualinvestorconferences.com.

Recent Company Highlights

A strategic exploration portfolio of critical and energy metals in Europe and Canada;
The 5^th best antimony-silver intercept globally for 2024-25 announced in January 2025;
A 231 sq. mile portfolio of uranium claims around the Athabasca Basin, SK, Canada featuring up to 6.2 % U3O8 surface sample to be advanced in 2026;
Phase III drill program in Bosnia aimed at proving the size of the Sb-Ag-Zn mineralization commenced in August, 2025.

About the Company

About Virtual Investor Conferences®

Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.

Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.

CONTACTS:

Terra Balcanica Resources Corp.

Catherine Cox

Corporate Secretary (604) 999-4136

ccox@terrabresources.com

Virtual Investor Conferences

John M. Viglotti

SVP Corporate Services, Investor Access

OTC Markets Group

(212) 220-2221

johnv@otcmarkets.com

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Terra Balcanica Intersects Gold Mineralization Over 72 m and Starts Drill Program at Brezani Target in Bosnia

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Terra Balcanica Completes 1200 m of Phase III Drilling at Silver-Antimony Targets in Bosnia and Herzegovina

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2025 / Aug

Terra Balcanica Intersects Gold Mineralization Over 72 m and Starts Drill Program at Brezani Target in Bosnia

Vancouver, British Columbia – August 18^th 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10; OTCQB:TEBAF) is pleased to announce an expansion of the surface gold skarn system at Brezani and the start of the Phase III drill program at its Viogor-Zanik project, Bosnia and Herzegovina.

Highlights

The Brezani drillhole BRE23001 located 125 m SSW of the maiden Brezani drillhole intercepted 0.27 g/t Au over 72.3 m including 0.62 g/t Au over 7.5 m. Additionally, two antimony veined zones, 1.5 and 0.5 m wide were intersected, respectively (Figure 2);
The drillhole BRE23002 located 145 m northwest of BRE23001 intercepted 1.51 Zn% over 6 m including 0.54% Sb over 1.65 m as well as 0.6 g/t Au over 2.85 m;
The drillhole BRE23003 located 77 m southeast of the maiden Brezani drillhole encountered 0.19% Sb over 2.0m as well as 0.6 g/t Au over 2.85 m;
The drillhole BRE23004 located 92 m NNW of the maiden Brezani drillhole intercepted 0.62 g/t Au over 11.8 m including 1.03 g/t Au over 6.65 m;
Exploration upside: Au-bearing, retrograde, chlorite overprinted skarn at Brezani has been now confirmed over 200 m in the N-S direction as it overlies the SE extent of the 1.2 km, NE-shallowing conductor interpreted to be Sb-Ag-Zn mineralized.

The maiden Brezani drillhole BREDD002 intercepted 0.61 g/t AuEq over 88.0 m from surface (see Company news release from January 24th, 2023);

Terra Balcanica’s CEO, Dr. Aleksandar (Alex) Mišković, commented:

We are pleased to have expanded the gold footprint at Brezani. The Au bearing metasomatized hornfels intercepted from surface at BREDD002 three years ago were not just a one-off as the follow up drilling clearly suggests a skarn with the gold mineralization over 200 m laterally. Being close to the surface, this is a considerable value add at Brezani given the NE-shallowing, 20 m wide, fault hosted silver antimony horizon which is the real focus of the current Phase III drill program.

Drill Results

Drillhole	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Sb (%)	Zn (%)
BRE23001	22.0	94.3	72.3	0.27
including	32.0	39.5	7.5	0.62
including	47.0	48.5	1.5			0.27
including	77.3	77.8	0.5			0.53
BRE23002	98.05	104.1	6.0		17.6		1.51
including	98.05	99.7	1.65			0.54
BRE23002	104.65	107.5	2.85	0.60
BRE23002	110.5	111.4	0.9	1.06
BRE23003	52.7	54.7	2.0			0.19
BRE23004	9.8	21.6	11.8	0.62
including	11.7	18.3	6.65	1.03
BRE23004	38.7	51.9	13.2	0.19
including	102.0	103.5	1.45	0.39

Table 1. Assay results of key mineralized intervals for diamond drillholes BRE23001 through BREDD004. Interval lengths reported are drilled lengths and not true widths.

Figure 1. The Bosnian Viogor-Zanik project with the Brezani skarn system to SE of the Sase mine.

Figure 2. Satelite plain view of the four drill holes at Brezani correlateting to the Au surface hail from soil geochemisry.ral control.

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
BRE23001	368453	4879916	845.87	-80	336	120.8	94.16
BRE23002	368358	4880043	852.74	-80	336	156.7	98.6
BRE23003	368504	4879974	868.05	-80	336	123.2	97.16
BRE23004	368442	4880119	902.40	-80	336	145.2	97.16

Table 2. Collar location and core recoveries for diamond drillholes BREDD001 and BREDD002 (UTM; WGS84).

The BRE 23001 drillhole was initially characterized by mudstone with patchy calc-silicate alteration and disseminated and vein-hosted pyrite-pyrrhotite followed by calc-silicate hornfels with pyroxene veining and disseminated and quartz veinlet hosted chalcopyrite, pyrite and pyrrhotite (Figure 4). Medium grained garnet dominant exoskarn mineralogy is noted adjacent to chlorite-sericite altered diorite intrusives that have been altered to endoskarn with garnet and pyroxene.

A gradient from garnet to pyroxene skarn can be observed in BRE23001 with movement away from the intrusive contact. Epithermal quartz-carbonate veining with arsenopyrite, and stibnite was observed as well. There was notably more intrusive within the shallow part of BRE23001 than BREDD002. Quartz veins are crosscut by later pyrite and then carbonate-sulphide veins which create a strong chlorite vein selvage, commonly with pyrrhotite.

Figure 3. Conductivity-magnetic profile of the Brezani target looking NE. The four drill holes tested the resistive volume above an abrupt change into a central magnetic low shell (tirquoise blue) within the general >95th percentile magnetic high anomaly to verify the lateral extent of 0.61 g/t Au Eq. over 88 m from surface reported in the 674 m deep, central BREDD002.

The BRE23004 intersected 8 meters of exo-skarn/calc-silicate (9.5m – 19.5m) with small intervals of intrusive adding up to around 2 meters. The altered rock may not strictly be a skarn as the grain size is not coarse. The mineral banding is very well developed and is larger grained on the whole that our classic calc-silicate. The banding appears to follow relict bedding and tectonic folding. The skarn mineralogy contains: pyroxene-garnet-wollastonite-calcite-actinolite-chlorite-epidote.

There appears to be zonation with the upper part containing more light brown garnet bands and the lower part more dominant in blue pyroxene. An example of a similarly altered, blue pyroxene skarn interval returned up to 2.7g/t gold in BREDD002 from 37m to 38m. The intrusive appears to be sillicified possibly overprinting potassic with some sections altered to endoskarn. From 19.5 to 29 meters is an exoskarn/calc-silicate with small intervals of porphyry with some intervals altered to exoskarn. Banding within the skarn is well developed and similar to previous intervals.

Figure 4. left) Garnet skarn in contact with chlorite-sericite altered diorite intrusion. Veinlets of pyrrhotite-sphalerite are observed adjacent to the contact. The skarn is retrograde (chlorite-epidote) altered; right) Phyllic altered, plagioclase phyric diorite with quartz-molybdenite veining and crosscutting calcite-arsenopyrite-sphalerite veinlets.

Phase III Drilling

The 2025 drill program is a follow up onto the discovery made by the drill hole BREDD002 which intercepted ca. 20 m of intermediate sulfidation, base metal-rich, fault-breccia hosted Ag-Sb-Zn mineralization grading upwards of 436 g/t Ag Eq. which was previously detected via the 2021 heliborne TEM survey. The EM study revealed a 1.2 km long conductor shallowing towards northeast and eventually surfacing at the topographic high of the Brezani locality.

The mineralogical textures form the initial intercept pierced through the ore zone suggest a stratigraphic level that is apparently below the so-called “boiling zone” thus offering potential upside should one be intercepted updip during the current drill program. The lateral extent of the 17 degree dipping conductor interpreted as the Sb-Ag-Zn mineralization is 1.2 km in length, up to 600 m in width and 20 m thick as observed in BREDD002 offering a massive potential for a large tonnage ore body which is the goal of this year’s campaign. The company’s field team expressly built six drill pads on a challenging and steep terrane and the drilling has sommenced in earnest last Friday (Figure 5). Terra expects to comlete the first diamond drill hole by the end of Augist, 2025 with the laboratory assays in hand by mid to late September, 2025. A total of 2,100 m of drilling is planned with a possibility of increasing the program should intercepts justify further testing.

Figure 5. Drill pad BRE23005 with the rig oriented at 345 azimuth and inclined at 70° to surface testing the deep conductor interpreted to be the previously intercepted Sb-Ag-Zn mineralization.

QA/QC

Half core (PQ3 and HQ3) samples were delivered to ALS Bor, Serbia for sample preparation and subsequent wet chemical analysis at the Loughrea laboratory in Ireland, an ISO/IEC 17025:2017 certified test facility. Sample preparation PREP-31BY method involved crushing the core to 70% less than 2 mm, rotary split 1.0 kg and pulverizing the split to greater than 85% passing 75 microns. Silver and base metals were analysed by ICP MS after a four-acid digest (ME-MS61). Gold was assayed by 30g fire assay with ICP AES finish (Au-ICP21). Over limit samples for base metals were re-analysed by the four-acid digest ICP-AES analyses termed ME-OG62. Control samples comprising the certified reference material CDN-ME-1501 (Canadian Resource Labs Ltd.), quarter core field duplicates and blanks were inserted at a rate of 5% and investigated as part of the Company’s quality assurance and quality control program.

Qualified Person

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

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Assays:

Sample ID	From (m)	To (m)	Au (ppm)	Ag (ppm)	Cu (ppm)	Sb (ppm)	Zn (ppm)
BREDD001
106238	16	18	0.018	0.22	96.9	14.75	334
106239	18	20	0.023	0.2	134	23.6	198
106240	20	22	0.044	0.17	206	37.9	192
106241	22	24	0.355	0.23	163.5	19.8	215
106242	24	26	0.11	0.09	115.5	23.1	217
106243	26	28	0.077	0.13	129	29.2	202
106244	28	30	0.028	0.37	125.5	24.7	481
106245	30	32	0.07	0.24	146.5	14.45	701
106246	32	34	0.428	0.11	176	13.75	469
106247	34	36	1.205	0.12	175	17.15	550
106248	36	37.5	0.542	0.09	230	19.45	348
106249	37.5	39.5	0.304	0.17	90.1	20.1	181
106251	39.5	41.1	0.184	0.18	103.5	18.25	231
106252	41.1	41.9	0.184	0.08	21.7	16.55	301
106253	41.9	42.45	0.125	0.35	15	59.2	304
106254	42.45	43.35	0.268	0.12	22.7	6.31	1585
106255	43.35	43.65	0.053	0.13	39.1	8.1	3070
106256	43.65	44.7	0.428	0.13	24.8	20.1	331
106257	44.7	45	0.106	0.09	8.2	4.88	246
106258	45	47	0.113	0.35	246	19	1060
106259	47	48.5	0.208	3.77	39.6	2740	356
106260	48.5	50.1	0.255	0.12	23.5	10.65	714
106261	50.1	50.5	0.115	0.07	8.2	6.93	412
106262	50.5	52.5	0.184	0.08	29.5	12.8	257
106263	52.5	54.2	0.244	0.09	6.4	21.9	412
106264	54.2	56.3	0.23	0.05	16	3.89	216
106265	54.2	56.3	0.265	0.06	16.4	3.17	237
106266	56.3	58	0.136	0.05	30.6	1.94	252
106267	58	60.3	0.354	0.1	84.5	36.5	449
106268	60.3	62.65	0.198	0.07	60	22.9	603
106269	62.65	64.3	0.375	0.11	15.8	17.95	126
106270	64.3	65.9	0.321	0.07	25	17.55	109
106271	65.9	68.2	0.439	0.07	107.5	28.3	217
106272	68.2	70.6	0.487	0.03	41.7	17.65	316
106273	70.6	72	0.244	0.04	95.2	11.95	92
106274	72	72.8	0.159	0.02	132.5	8.6	99
106275	72.8	75	0.239	0.05	58.3	26.5	195
106276	75	77.3	0.285	0.33	117.5	53.2	127
106277	77.3	77.8	0.329	6.18	66.1	5290	378
106278	77.8	80	0.158	0.05	4.2	15.2	310
106279	80	82	0.352	0.03	2.2	10	409
106281	82	82.85	0.077	0.05	2	17.75	160
106282	82.85	84.2	0.363	0.35	45	73.2	216
106283	84.2	85.7	0.157	0.08	34.5	41.1	159
106284	85.7	87.7	0.157	0.05	26.8	18.6	171
106285	87.7	88.8	0.131	0.07	13.6	22	239
106286	88.8	90	0.145	0.05	26.1	21.5	186
106287	90	91.5	0.15	0.06	13.4	14.5	46
106288	91.5	93.1	0.143	0.09	27	34.7	100
106289	93.1	94.3	0.134	0.1	9.2	12.95	68
106290	94.3	95.35	0.072	0.06	59.3	24.5	66
106291	95.35	96.7	0.096	0.04	64	16.8	159
106292	96.7	97.6	0.17	0.36	113.5	23	264
106293	97.9	100.15	0.072	0.04	64.2	4.2	199
106294	100.15	102	0.056	0.07	66.4	2.47	206
106295	100.15	102	0.055	0.08	68	2.18	213
106296	102	104	0.12	0.06	105.5	4.3	306
106297	104	106	0.111	0.1	129.5	28.6	271
106298	106	108	0.052	0.14	164.5	27.7	488
106299	108	110	0.071	0.62	185	7.84	304
106300	110	112	0.056	0.09	176.5	6.23	314
106301	112	113	0.066	0.03	110	1.89	134
106302	113	114.4	0.045	0.06	139	4	75
106303	114.4	115.8	0.053	0.07	124	5.26	85
106304	115.8	118.3	0.071	0.12	134.5	16.15	122
106305	118.3	120.8	0.068	0.14	119.5	14.45	140
BRE23002
106347	91	93	0.001	0.12	22.8	3.65	218
106348	93	95	<0.001	0.22	26.7	2.81	411
106349	95	97	<0.001	0.37	27.3	3.66	278
106350	97	98.05	0.006	0.86	28.2	53.1	611
106351	98.05	99.05	0.071	10.25	17.3	6250	1600
106352	99.05	99.7	0.091	11.05	73.3	4560	5310
106353	99.7	100.4	0.087	7.19	284	498	6190
106354	100.4	101.5	0.071	7.4	202	555	2440
106355	101.5	102.55	0.024	0.59	72	45	75
106356	102.55	103.45	0.042	65	233	976	>10000
106357	102.55	103.45	0.05	14.5	247	486	>10000
106358	103.45	104.05	0.087	24.8	193.5	796	8170
106359	104.05	104.65	0.085	1.56	160	107	1020
106360	104.65	106.8	0.942	7.01	72	445	550
106361	106.8	107.5	0.256	0.29	54.5	20.8	111
106362	107.5	108.5	0.082	0.67	121.5	49	95
106363	108.5	109.5	0.024	1.77	43.5	26.3	1715
106364	109.5	110.5	0.022	3.73	42.9	59.3	4660
106365	110.5	111.4	1.055	11.5	56.7	144.5	3040
106366	111.4	113	0.012	6.07	68.8	41.4	711
106367	113	115	0.007	2.57	52.6	6.17	1075
106368	115	116.2	0.003	1.81	61.9	5.11	627
106369	116.2	117.2	0.027	8.39	128.5	23	1965
106370	117.2	118.2	0.003	3.74	94	8.39	1760
106371	118.2	119.9	0.002	0.6	46.6	2.18	493
106373	119.9	122.3	0.016	0.51	45.9	3.78	386
106374	122.3	124	0.005	1.57	54.2	4.66	1000
106375	124	126	0.002	0.76	42.9	2.78	470
106376	126	128	0.003	0.61	48.2	2.59	430
106377	128	130	0.034	0.27	45.2	3.42	233
106378	130	132	0.016	0.35	62.8	2.76	354
106379	132	134	0.02	0.45	56.3	2.61	277
106380	134	136	0.032	0.76	77.5	3.98	230
106381	136	138	0.035	0.28	48	3.19	242
106382	138	140	0.022	0.19	42.5	2.28	887
106383	140	142	0.147	0.2	82.5	3.72	714
106384	142	144	0.055	0.19	74.4	3.28	251
106385	144	146	0.035	0.09	80.7	1.95	493
106386	146	148	0.087	0.19	119.5	1.58	335
106387	148	149.55	0.068	0.27	90.7	1.16	361
106388	148	149.55	0.073	0.32	97.6	1.12	412
106389	149.55	151	0.082	0.22	75.8	1.88	414
106390	151	153	0.063	0.23	35.1	1.32	551
106391	153	155	0.05	0.28	46.2	1.29	341
106392	155	156.7	0.044	0.11	50.7	1.12	248
BRE23003
106395	0	2	0.053	0.52	156.5	168.5	129
106396	2	4	0.034	0.6	104	104.5	73
106397	4	6	0.047	1.73	132	89.6	96
106398	6	8	0.051	0.52	104	63.4	170
106399	8	10	0.054	0.42	113	87.2	181
106400	10	12	0.069	0.26	115	46.7	271
106401	12	14	0.058	0.4	83.7	47.8	181
106402	14	16	0.063	0.44	97.9	38.4	145
106403	16	18.15	0.045	0.14	118.5	37.3	193
106404	18.15	19.5	0.155	0.15	90.5	23.8	175
106405	19.5	21	0.023	0.11	94	25.2	143
106408	25	27	0.046	0.55	47.5	35.3	122
106410	27	29	0.018	0.17	76.1	17.7	72
106411	29	31	0.031	0.19	165	18	162
106412	31	32.1	0.039	0.74	122	117	133
106413	32.1	34.4	0.01	0.31	30.4	33.6	96
106414	34.4	36.8	0.017	0.22	43	21.9	25
106415	36.8	38.8	0.023	0.09	106.5	13.2	315
106416	38.8	40.8	0.018	0.43	125	18.15	198
106417	40.8	42.8	0.017	0.27	85	37.7	124
106418	42.8	44.7	0.022	0.1	144.5	15.55	161
106419	44.7	46.7	0.016	0.14	49.6	16.3	208
106420	46.7	48.7	0.036	0.68	32.4	74.3	127
106421	48.7	49.7	0.022	0.26	57	37.2	101
106422	49.7	50.7	0.027	0.09	76	55.8	237
106423	50.7	51.7	0.008	0.13	99.4	54.4	173
106424	50.7	51.7	0.011	0.11	142.5	56.9	508
106425	51.7	52.7	0.035	0.39	60.6	64.9	157
106426	52.7	53.7	0.022	0.13	95.8	78.8	2100
106427	53.7	54.7	0.011	0.6	87.3	107.5	1665
106428	54.7	56	0.012	0.14	91.5	63.1	395
106429	56	58	0.02	0.22	99.9	52.5	185
106430	58	60	0.037	0.08	111.5	51.1	209
106431	60	62.3	0.037	0.1	127.5	59.9	128
106432	62.3	64	0.034	0.07	114.5	29.2	105
106433	64	66	0.026	0.06	109.5	49	135
106434	66	68	0.021	0.13	80	73.4	178
106435	68	70	0.026	0.22	86.7	66.4	156
106436	70	72	0.03	0.58	74.3	60.3	173
106437	72	74	0.04	0.43	102	53.7	173
106438	74	76	0.033	0.11	115.5	74.6	184
106440	76	78	0.023	0.06	113.5	48.6	145
106441	78	80	0.015	0.07	92	46.3	123
106442	80	81.35	0.017	0.12	118	21.4	127
106443	81.35	83.5	0.038	0.17	119	33.9	208
106444	83.5	85.7	0.036	0.1	79.9	88.8	112
106445	85.7	87.1	0.024	0.16	103	47.6	119
106446	87.1	89.7	0.016	0.05	60.8	23.6	289
106447	89.7	91.2	0.041	1.7	36.6	73.8	131
106448	91.2	94	0.149	5.37	172.5	175	333
106449	94	96	0.027	0.15	148.5	39	86
106450	96	98	0.025	0.22	122	60.3	52
106451	98	100.6	0.027	0.18	156	46.2	52
106452	100.6	101.6	0.027	0.07	149	26.4	49
106453	101.6	102.6	0.035	0.04	166	8.77	120
106454	101.6	102.6	0.037	0.05	175	8.1	149
106455	102.6	103.6	0.031	0.05	195.5	2.64	80
106456	103.6	104.45	0.028	0.04	132.5	11.25	141
106457	104.45	106	0.019	0.04	139.5	7.81	66
106458	106	108	0.015	0.03	66.8	2.91	59
106459	108	110	0.008	0.15	45.3	18.5	60
106460	110	112	0.007	0.12	71.3	4.48	108
106461	112	114	0.004	0.15	46	1.85	123
106462	114	116	0.017	0.62	48.3	2.8	485
106463	116	118	0.006	0.13	30.4	1.94	104
106464	118	120	0.015	0.18	37.8	1.55	100
106465	120	122	0.002	0.06	33	1.47	75
106466	122	123.2	0.128	0.21	42.6	55.8	108
BRE23004
106467	0	1	0.022	0.11	34	16.4	363
106468	2	4	0.024	0.2	46.2	28.5	259
106470	4	6	0.017	0.29	46.6	15	502
106471	6	7.6	0.021	0.4	49.2	11.4	696
106472	7.6	8.7	0.018	0.68	41.8	8.9	751
106473	8.7	9.8	0.024	0.51	50.4	10.2	1140
106474	9.8	10.8	0.214	0.95	180.5	3.55	1460
106475	10.8	11.65	0.27	0.91	451	1.56	2140
106476	11.65	12.65	0.516	0.38	202	1.61	1835
106477	12.65	14.1	1.51	0.34	49.5	0.68	574
106478	14.1	15.25	0.811	0.3	43	1.26	403
106479	15.25	16.4	1.9	1.48	582	1.54	1180
106480	16.4	17.1	0.427	0.33	39.9	4.42	417
106481	17.1	18.3	0.6	0.3	24.7	1.32	540
106482	18.3	19.65	0.262	0.19	15.7	1.25	598
106483	19.65	20.7	0.093	0.12	18.2	1.6	310
106484	19.65	20.7	0.11	0.16	16.4	1.85	360
106485	20.7	21.6	0.147	0.17	12.6	2.14	606
106486	21.6	22.65	0.03	0.22	45.5	3.73	226
106487	22.65	24.65	0.067	0.22	125	4.15	391
106488	24.65	25.9	0.035	0.05	39.9	3.45	228
106489	25.9	27	0.045	0.1	63.5	6.29	83
106490	27.4	29	0.102	0.1	114.5	3.55	108
106491	29	29.65	0.052	0.15	85.7	4.06	174
106492	29.65	31.65	0.074	0.1	92.5	3.06	161
106493	31.65	33.65	0.072	0.13	144	2.11	120
106494	33.65	35.65	0.08	0.14	127.5	2.16	89
106495	35.65	36.7	0.1	0.12	149.5	3.17	71
106496	36.7	38.7	0.055	0.22	145	8.31	118
106497	38.7	40.7	0.102	0.26	108	4.1	189
106498	40.7	42.7	0.111	0.32	124.5	2.22	202
106500	42.7	44.6	0.376	0.28	60.7	4.78	161
106501	44.6	45.1	0.598	0.51	11.6	8.66	725
106502	45.1	46.1	0.261	0.47	35.7	7.55	1030
106503	46.1	47.7	0.242	0.76	30.4	28.4	1220
106504	47.7	48.7	0.19	0.66	14.1	11	1095
106505	48.7	50.75	0.053	0.07	6.3	3.91	224
106506	50.75	51.9	0.105	0.87	31.9	10.85	2460
106507	51.9	54.1	0.061	0.31	37.7	3.16	667
106508	54.1	55.3	0.06	0.17	18.5	4.93	398
106509	55.3	56.55	0.04	0.13	24.1	1.75	401
106510	56.55	57.8	0.036	0.14	23.7	1.54	417
106511	57.8	59.3	0.045	0.21	24.3	1.46	624
106512	59.3	60.75	0.018	0.15	12.3	1.29	498
106513	60.75	62	0.017	0.14	18.4	1.31	402
106514	60.75	62	0.013	0.11	16.2	1.38	355
106515	62	63.3	0.006	0.17	24.7	0.84	483
106516	63.3	63.9	0.011	0.04	6.2	1.44	57
106517	63.9	65.9	0.02	0.02	18.4	2.63	71
106518	65.9	67.9	0.04	0.08	16.2	2	211
106519	67.9	69.9	0.017	0.07	18.5	2.21	94
106520	69.9	71.9	0.017	0.05	13.7	2.39	74
106521	71.9	73.9	0.025	0.08	13	3.05	66
106522	73.9	75.9	0.013	0.06	28	2.7	53
106523	75.9	77.5	0.014	0.07	14.7	1.69	54
106524	77.5	79.1	0.007	0.05	23.7	1.77	65
106525	79.1	81.1	0.009	0.04	21.6	2	69
106526	81.1	82.5	0.016	0.05	16.1	1.76	71
106527	82.5	83.9	0.011	0.05	50.6	2	67
106528	83.9	85.9	0.014	0.06	21.8	1.97	80
106530	85.9	87.9	0.025	0.02	10.5	2.33	55
106531	87.9	90	0.011	0.06	18.6	3.9	115
106532	90	92	0.021	0.07	15.1	1.69	87
106533	92	94	0.008	0.09	7.9	2.27	94
106534	94	96.25	0.005	0.06	14.1	1.04	80
106535	96.25	98.5	0.007	0.06	18.6	1.25	61
106538	98.5	100.5	0.007	0.06	28.2	1.55	77
106539	100.5	102	0.018	0.04	21.1	2.42	63
106540	102	103.45	0.387	0.1	45.6	2.95	86
106541	103.45	105.15	0.008	0.12	52	3.4	59
106542	105.15	106.55	0.005	0.1	22.6	1.21	59
106543	106.55	107.9	<0.001	0.1	18.8	1.62	78
106544	107.9	109.8	0.001	0.17	21.7	3.87	70
106545	109.8	110.6	0.003	0.21	49.6	4.78	104
106546	110.6	112.6	0.006	3.01	45.6	11	3920
106547	112.6	114.05	0.001	0.19	15.5	3.2	156
106548	114.05	115.5	0.002	0.06	8.1	3.05	54
106549	115.5	117	0.01	0.12	14.4	2.74	89
106551	117.1	118.65	0.01	0.24	20.5	3.56	207
106552	118.65	120.65	0.007	0.19	21	2.75	430
106553	120.65	122.15	0.023	0.26	87	2.32	198
106554	122.15	123.8	0.013	0.24	56.5	3.91	183
106555	123.8	125.8	0.008	0.42	24.4	11.9	401
106556	125.8	127.8	0.035	0.4	30.3	5.89	239
106557	127.8	129.8	0.031	0.1	67.2	2.05	88
106558	129.8	131.3	0.026	0.15	67.8	5.25	82
106559	131.3	132.8	0.026	0.09	30.8	2.04	77
106560	132.8	134.8	0.056	0.13	46	2.97	129
106561	134.8	136.1	0.076	0.09	47.7	3.28	163
106562	136.1	137.4	0.045	0.11	35.8	3.22	200
106563	137.4	138.9	0.122	0.11	58.7	2.96	100
106564	138.9	140.5	0.056	0.05	62	3.3	65
106565	140.5	142.25	0.037	0.06	23.7	1.82	178
106566	140.5	142.25	0.026	0.06	23.1	1.75	159
106567	142.25	144	0.086	0.24	44.8	3.43	356
106568	144	145.2	0.019	0.13	27.7	1.71	118

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Terra Balcanica Closes Fully Subscribed LIFE Offering

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Terra Balcanica To Present at the Clean Energy Metals Virtual Investor Conference

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2025 / Aug

Terra Balcanica Closes Fully Subscribed LIFE Offering

Vancouver, British Columbia – August 13^th 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10) is pleased to announce the closing of the second and final tranche of its non-brokered, listed issuer financing exemption private placement (the “Private Placement” or “Offering”) for gross proceeds of C$302,581 through the issuance of 3,025,809 units (each a “Unit”) at a purchase price of C$0.10 per Unit. Each Unit is comprised of one common share in the capital of the Company (“Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable to purchase one Common Share (“Warrant Share”) at an exercise price of C$0.20 per Warrant Share for a period of 24 months from the closing date of the Private Placement or its respective tranches (the “Closing Date”). In connection with the final tranche of the Offering, finders’ fees in the amount of C$7,000 were paid and 70,000 non-transferable finder’s warrants (each, a “Finder’s Warrant”) were issued to arm’s length finders. Each Finder’s Warrant is exercisable for one Common Share at an exercise price of C$0.20 per Common Share for a period of 24 months from the Closing Date. The Company closed an initial tranche of the Offering on July 11, 2025 in the amount of 8,149,141 Units for gross proceeds of C$814,914, as described in the Company’s press release dated July 11, 2025. The Company has thus closed on the maximum offering amount of C$1,117,495.

Aleksandar Mišković, President and CEO of the Company commented:

We are very pleased to have raised the full allowable LIFE amount as interest for the offering kept growing by the week. The Phase III drill campaign at Viogor-Zanik in Bosnia is now fully funded and commences imminently. I am on the site to personally oversee the rig turning at Brezani while Terra’s team is excited for a robust news release stream to come in the days ahead.

Kim Oishi, Director of the Company (the “Insider”), purchased 25,809 Units as part of the final tranche of the Offering. The issuance of the Units to the Insider constitutes a “related party transaction” as this term is defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). There has not been a material change in the percentage of the outstanding securities of the Company that are owned by the Insider as a result of his participation in the Offering. The Company is relying on the exemption from the valuation requirement and minority approval requirement pursuant to subsection 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the Insider participation does not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The participation by the Insider in the Offering was approved by directors of the Company who are independent in connection with this transaction. No materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.

The Private Placement was conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions. The securities issued to purchasers in the Private Placement are not subject to a hold period under applicable Canadian securities laws. The Finder’s Warrant issued to finders in connection with the final tranche of the Offering, and the Common Shares issuable on exercise thereof, are subject to a hold period expiring on December 14, 2025 in accordance with applicable Canadian securities laws.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has a 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the use of proceeds for the Offering. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Offering; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

Download news release (.pdf)

Terra Balcanica Lists on OTCQB Marketplace

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Terra Balcanica Intersects Gold Mineralization Over 72 m and Starts Drill Program at Brezani Target in Bosnia

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2025 / Aug

Terra Balcanica Lists on OTCQB Marketplace

Vancouver, British Columbia – August 8^th 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10) is pleased to announce that its common shares have begun trading on the OTCQB marketplace under the symbol “TEBAF”. The Company’s common shares will continue to trade on the CSE under the symbol TERA as well as the Frankfurt Stock Exchange under the symbol UB10. The Company expects that the listing on the OTC will provide greater visibility and convenience of trading for critical resource-savvy US investors, resulting in enhanced liquidity and greater reach.

Aleksandar Mišković, President and CEO of the Company commented:

This is the right step at the right time. Our listing on OTCQB helps introduce the Company to a massive US audience which will surely play a crucial role at this stage of Terra’s corporate development. The US market is indispensable for accessing larger pools of capital and the listing will give millions of US investors easier access to transact TEBAF shares.

The OTCQB venture market is intended for early stage and developing U.S. and international companies that are current in their financial reporting and undergo annual verification and management certification processes. Investors can find real-time quotes and market information for the Company on www.otcmarkets.com.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has a 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the use of proceeds for the Offering. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Offering; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

Download news release (.pdf)

Terra Balcanica Closes First Tranche While Extending LIFE Offering and Exercises First Year of Option Agreement

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Terra Balcanica Closes Fully Subscribed LIFE Offering

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2025 / Jul

Terra Balcanica Closes First Tranche While Extending LIFE Offering and Exercises First Year of Option Agreement

Vancouver, British Columbia – July 11^th 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10) is pleased to announce the closing of the first tranche of its non-brokered, listed issuer financing exemption private placement (the “Private Placement” or “Offering”) for gross proceeds of C$814,914 through the issuance of 8,149,141 units (each a “Unit”) at a purchase price of C$0.10 per Unit. Each Unit is comprised of one common share in the capital of the Company (“Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable to purchase one Common Share (“Warrant Share”) at an exercise price of C$0.20 per Warrant Share for a period of 24 months from the closing date of the Private Placement or its respective tranches (the “Closing Date”). Finders’ fees in the amount of $28,000 were paid.

The Company also announces that it is extending the final Closing Date of the Private Placement, to raise up to total gross proceeds of C$1,117,495, to on or before August 11^th, 2025. A second amended and restated offering document has been filed on under the Company’s profile at the www.sedarplus.ca website and on the Company’s webpage at www.terrabresources.com. The Private Placement is subject to the approval by the Canadian Securities Exchange (the “CSE”). See the Company’s press release dated April 16^th, 2025 for further details regarding the Private Placement.

Aleksandar Mišković, President and CEO of the Company commented:

We are pleased to have secured the funds to start executing the Phase III drill campaign at Viogor-Zanik as we aim to close the remaining amount as soon as possible. It is worth highlighting a significant participation of Dundee Corporation in the current round as a sign of interest and approval of the work done by Terra thus far considering Dundee’s recent acquisition of the Adriatic Metals’ well known Vareš silver mine in Bosnia.

Aleksandar Mišković, President and CEO of the Company (the “Insider”), purchased 300,000 Units as part of the first tranche of the Offering. The issuance of the Units to the Insider constitutes a “related party transaction” as this term is defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). There has not been a material change in the percentage of the outstanding securities of the Company that are owned by the Insider as a result of his participation in the Offering. The Company is relying on the exemption from the valuation requirement and minority approval requirement pursuant to subsection 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the Insider participation does not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The participation by the Insider in the Offering was approved by directors of the Company who are independent in connection with this transaction. No materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.

Subject to compliance with applicable regulatory requirements, the Private Placement is being conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions. The securities issued to purchasers in the Private Placement will not be subject to a hold period under applicable Canadian securities laws. There is a second amended and restated offering document related to the Private Placement that can be accessed under the Company’s profile at the www.sedarplus.ca website and on the Company’s webpage at www.terrabresources.com. Prospective investors should read this second amended and restated offering document before making an investment decision.

Exercising 1^st Year of the Uranium Option Agreement

Pursuant to the definitive option agreement signed with Fulcrum Metals Plc. and Fulcrum Metals (Canada) Ltd. (collectively “Fulcrum”) on the 3^rd of July, 2024 (the “Agreement”), Terra has determined to exercise its right to complete the 1^st year of the option conditions required for Terra to acquire a 100% interest in the Fulcrum’s Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton licence clusters located along northern and southeastern margins of the renowned Athabasca Basin. In consideration for exercising the 1^st year of the option conditions, Terra will pay Fulcrum C$50,000 in cash and issue Fulcrum Metals (Canada) Ltd. C$350,000 of Terra common shares at the 10-day volume weighted average trading price ending three trading days prior to the date of issuance, subject to the minimum pricing requirements of the CSE. The common shares of the Company issued in connection with the Agreement are subject to a hold period of four months from the date of issuance in accordance with applicable securities laws in Canada and the policies of the CSE. See the Company’s press release dated July 3^rd, 2024 for further details regarding the Agreement.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the use of proceeds for the Offering. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Offering; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

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Terra Balcanica Welcomes Acquisition of Neighboring Producer in Bosnia and Herzegovina

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Terra Balcanica Lists on OTCQB Marketplace

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2025 / Jun

Terra Balcanica Welcomes Acquisition of Neighboring Producer in Bosnia and Herzegovina

Vancouver, British Columbia – June 3^rd 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10) welcomes the acquisition of Adriatic Metals (ADT.AX) by the Canadian Dundee Precious Metals (DPM.TO) in a cash-and-stock deal valued at C$1.3 billion (https://dundeeprecious.com/news-media/news-releases/dundee-precious-metals-announces-proposed-acquisit-10180/). This development highlights the unique geological and jurisdictional potential of Bosnia and Herzegovina where Terra is advancing its Viogor-Zanik polymetallic project expected to see the Phase III drilling campaign start in the next two weeks.

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments:

From the beginning, Terra’s operational focus was aimed at the highly prolific Western Tethyan Metallogenic Belt as it extends over the western Balkans. The Company strategically targeted critical metals (Sb-Zn-Ag-Au) needed by the resource-hungry European economy which is what brought us to eastern Bosnia in 2020. Today’s major announcement of a mine located only 80 km west of our flagship polymetallic targets at Chumavichi and Brezani is a testament to both amazing rate of advancement of Adriatic’s Vareš mine but also the mineral resource riches of the jurisdiction in which we proudly operate. Although comparatively early in our corporate development, Terra’s next steps aim to drill-confirm the size potential of the Brezani Sb-Ag fault-hosted mineralization that could indicate the same order of magnitude of ore resources as seen at Vareš.

Bosnia and Herzegovina and Western Tethyan Metallogenic Belt

Bosnia and Herzegovina is situated in is a largely overlooked but ancient European mining belt with multiple jurisdictional advantages that make it a country of choice to explore for metals needed by the energy transition markets.

Bosnia is a stable democracy that obtained a “candidate status” for EU membership in 2022 and is well on the way of synchronizing its legislative and legal frameworks with European standards. It is extensively linked by road and rail networks to European smelters and the seaborne markets via Adriatic Sea.

The population of Bosnia and Herzegovina, in both entities and both local and federal government levels, is largely supportive of mining industry which is not surprising considering its rich history of coal, base and precious metal mining. The country possesses a highly skilled and business-minded workforce with a youthful engineering base keen to learn about mining and best practices in the mineral resource sector. Both Bosnian entities have enacted clear and concise mining codes with the country-wide corporate tax rate of 10% and favourable royalty regimes without free carry requirements.

The Western Tethyan Belt is the world’s preeminent metallogenic corridor akin to the Andes and Cordilleras of the Americas. In the Balkans, it is divided into the Cretaceous and Neogene components (Figure 1), both of which are known for multiple Tier-1 deposits of precious, base (Cu-Sb-Zn-Pb), and energy transition (Li-B) metals appearing in a variety of genetic styles (skarn, veined epithermal, porphyry and sediment-hosted associations)

Figure 1. Tethyan metallogenic belts of the Balkan Peninsula. Key regional projects include: the 21.1 Mt at 577 g/t AgEq. Vares silver project in Bosnia owned by Adriatic Metals, the 1.8 Bt at 0.86% Cu Čukaru Peki deposit in Timok, Serbia (Zijin Mining), and the JORC inferred resource of 7.4 Moz Au at the Rogozna project in south Serbia owned by Strickland Metals (STK.AX). The red arrows indicate locations of Terra’s Viogor-Zanik project and the Adriatic’s Vares mine, respectively.

Viogor-Zanik Project

Terra Balcanica is currently defining grade and ore approximate volumes of two polymetallic targets situated within our 168 km2 Viogor-Zanik project (Figure 2). The shallow, high grade character of structurally controlled mineralization yields to potentially easy-to-operate, open-pit or shallow underground mining operations. An additional benefit is presented by the adjacent Pb-Zn-Ag-Sb mine owned by Mineco Ltd. that generates 350 ktpa of ore concentrate with onsite crushing and flotation circuits.

After 2,200 m of diamond drilling completed at Chumavichi, high grade Ag-Sb-Pb-Zn-Au mineralizations have been confirmed at three targets spanning 2 km of strike along a shallow, fault-hosted, intermediate sulfidation, polymetallic vein system.

At the Company’s other Viogor-Zanik target of Brezani, where the Company drilled over 1,500 m of diamond core, Terra has discovered a retrograde, chlorite-overprinted gold skarn system starting from surface, superimposed on a >1.2 km long, NE-shallowing Ag-Sb-Pb-Zn mineralized, fault-hosted permeability corridor. Here, with the maiden diamond drill hole BREDD002, Terra intercepted a 20-m wide, antimony-silver mineralization grading 436 g/t Ag Eq.

Figure 2. Geological map of the Viogor Zanik project with the Brezani target in the southeastern part of the project. Cumavici, the other high-grade, shallow polymetallic target is located 13 km to NW. The centrally located Sase mine (Mineco Ltd.) produces 350,000 tpa of Pb-Zn-Ag concentrate.

Akin to Adriatic’s deposits at Rupice and Veovača deposits, the Viogor Zanik project features high grades of a similar mix of strategically needed metals dominated by silver, antimony and zinc that on average exceed 520 g/t Ag Eq. at Brezani and 1,200 g/t Ag Eq. at the Cumavici corridor.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”), has reviewed and validated that the information contained in this news release is factual and accurate.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

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Terra Balcanica Points to Silver and Antimony Grades and Ore Body Potential in Bosnia

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Terra Balcanica Closes First Tranche While Extending LIFE Offering and Exercises First Year of Option Agreement

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2025 / Jun

Terra Balcanica Points to Silver and Antimony Grades and Ore Body Potential in Bosnia

Vancouver, British Columbia – June 3^rd 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10) is pleased to highlight the polymetallic potential of its Viogor-Zanik project in Bosnia in anticipation of the Phase III drilling campaign.

At the Company’s other Viogor-Zanik target of Brezani (Figure 2), Terra discovered a retrograde, chlorite-overprinted gold skarn system starting from surface and superimposed on a >1.2 km long, NE-shallowing Ag-Sb-Pb-Zn mineralized, fault-hosted permeability corridor (see the Company’s news release from April 11^th, 2024). Here, with the maiden diamond drill hole BREDD002, Terra intercepted a 20-m wide, high grade, antimony-silver mineralization (see the Company’s news release from January 20^th, 2025).

The significant potential of silver (Ag) and antimony (Sb) mineralization in Bosnia is highlighted by the drill results below (Table 1).

Chumavichi Target

Hole ID	From (m)	Intercept (m)	Au (g/t)	Ag (g/t)	Zn (%)	Pb (%)	Sb (%)	Ag Eq (g/t)	*Ag Eq (g/t)**
CMVD001 upper	29.0	4.0	0.84	131.5	4.59	2.12	1.85	824	1306
including	30.0	2.0	1.62	*261*	*9.10*	*4.20*	*3.70*	1634	*2602*
CMVD002	45.0	2.0	0.23	144	8.26	4.27	0.44	816	667
CMVD003	89.0	8.7	0.81	105	1.17	0.70	1.20	466	837
including	91.0	2.0	1.16	*289*	*3.16*	2.03	*3.50*	1197	*2300*
CMVD004	43.0	11.0	0.30	225	0.83	0.56	1.48	505	1039
including	44.8	1.7	0.81	*1420*	*4.95*	*3.42*	*9.40*	3075	*6474*
CMVD005 lower	81.0	10.0	0.78	75	0.61	0.40	0.68	284	520
including	86.0	2.0	*2.85*	*258*	1.89	1.42	1.70	896	*1475*
CMV23001 upper	11.0	4.8	1.61	132	1.51	0.57	1.56	551	1132
CMV23001 lower	31.6	0.3	0.47	106	1.00	0.28	3.22	669	1823
CMV23002b upper	22.0	3.8	0.70	125	5.53	2.72	0.48	499	621
CMV23002b lower	31.0	2.0	0.57	166	0.21	0.11	0.12	227	290
CMV23003	43.85	4.15	0.64	53	4.12	2.99	0.73	457	641
CMV23004	36.2	1.35	3.49	452	3.36	2.14	1.95	1168	1908
CMV23007	39.05	0.75	0.17	31	0.72	0.15	2.95	531	1572
CMV23009	39.4	1.10	0.26	88	2.03	0.19	1.17	355	763

Table 1. Previously released Terra Balcanica drill core assays from the Chumavichi target. Interval lengths reported are drilled lengths, not true widths. Silver equivalents (Ag Eq*) are the original metal equivalents recalculated based on the current metal prices of US$3,375/oz for gold (Au), US$34.45/oz for silver (Ag), US$1.22/lb for zinc (Zn), US$25.62/lb for antimony (Sb) and US$0.89/lb for lead (Pb). Metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are applied to all assays based on published metallurgical tests from the analogous polymetallic deposit mined by Adriatic Metals plc.

Figure 1. Geological map of the Chumavichi ore corridor illustrating the drilled targets, namely: Cumavici Ridge, Cumavici Crest and Joseva. The Seoce and Cumurnica targets remain to be drilled in 2025. The yellow strips represent Yugoslav ore block segments from 1983 used for non-43-101 compliant resource calculation (WGS84/UTM Zone 34N;

Brezani Target

The 674 m Brezani drillhole BREDD002 has intercepted base metal-rich (Sb-Ag),epithermal mineralization between 482.1 and 505 m of depth yielding . The zone of mineralization consists of banded veins and massive sulphide-cemented breccias with structural and mineralogical characteristics of low and intermediate sulphidation epithermal deposits. The upper vein contact is sharp with minimal alteration progressing into the hornfels, whereas the vein footwall is brecciated and strongly clay altered. The margins of the vein host repeating bands of chalcedonic quartz, rhodochrosite, calcite, sulphides, and sulphosalts including stibnite, pyrite, arsenopyrite, sphalerite, galena, and jamesonite. The core of the mineralized zone is dominated by hydrothermal breccia with a sulphide-quartz-carbonate cement and banded vein fragments as framework.

Hole ID	From (m)	Intercept (m)	Au (g/t)	Ag (g/t)	Zn (%)	Pb (%)	Sb (%)	AgEq (g/t)	AgEq* (g/t)
BREDD002	482.1	19.6	0.18	85	0.48	0.20	0.79	436	520
including	482.1	9.8	0.26	129	0.70	0.24	1.42	746	900

Table 2. Maiden drill core assays from the Brezani target. Interval lengths reported are drilled lengths, not true widths. Silver equivalents (Ag Eq*) are the original metal equivalents recalculated based on the current metal prices. Metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb, and Zn are applied..

Figure 2. Geological map of the Chumavichi ore corridor illustrating the drilled targets, namely: Cumavici Ridge, Cumavici Crest and Joseva. The Seoce and Cumurnica targets remain to be drilled in 2025. The yellow strips represent Yugoslav ore block segments from 1983 used for non-43-101 compliant resource calculation (WGS84/UTM Zone 34N;

The intercept coincides with a shallowing subsurface conductivity anomaly potentially indicating a base- and precious metal mineralized zone with a volume defined by 1,200 m length down dip towards WSE, 650 m width along NNW-SSE trending strike and up to 20 m in width although similar fault-hosted IS epithermal systems tend to pinch and swell along strike and down dip (Figure 2).

Qualified Person

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

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Terra Balcanica Announces Extension to LIFE Offering

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Terra Balcanica Welcomes Acquisition of Neighboring Producer in Bosnia and Herzegovina

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2025 / May

Terra Balcanica Announces Extension to LIFE Offering

Vancouver, British Columbia – May 30^th 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10) announces that it is extending the closing of it non-brokered, listed issuer financing exemption private placement (the “Private Placement”) for minimum gross proceeds of C$750,000, and maximum gross proceeds of up to C$1,117,495 through the issuance of up to 11,174,950 units (each a “Unit”) at a purchase price of C$0.10 per Unit. Each Unit will be comprised of one common share in the capital of the Company (“Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable to purchase one Common Share (“Warrant Share”) at an exercise price of C$0.20 per Warrant Share for a period of 24 months from the closing date of the Private Placement (the “Closing Date”). The closing of the Private Placement is expected to occur on or about July 11th, 2025, and is subject to the approval of the Canadian Securities Exchange. See the Company’s press release dated April 16th, 2025 for further details regarding the Private Placement.

Subject to compliance with applicable regulatory requirements, the Private Placement is being conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions. The securities issued to purchasers in the Private Placement will not be subject to a hold period under applicable Canadian securities laws. There is an amended and restated offering document related to the Private Placement that can be accessed under the Company’s profile at the www.sedarplus.ca website and on the Company’s webpage at www.terrabresources.com. Prospective investors should read this amended and restated offering document before making an investment decision.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the use of proceeds for the Offering. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Offering; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

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Terra Balcanica Announces LIFE Offering

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Terra Balcanica Points to Silver and Antimony Grades and Ore Body Potential in Bosnia

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2025 / Apr

Terra Balcanica Announces LIFE Offering

Vancouver, British Columbia – April 16^th 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10) is pleased to announce that it intends to complete a non-brokered, listed issuer financing exemption private placement (the “Private Placement”) for minimum gross proceeds of C$750,000, and maximum gross proceeds of up to C$1,117,495 through the issuance of up to 11,174,950 units (each a “Unit”) at a purchase price of C$0.10 per Unit. Each Unit will be comprised of one common share in the capital of the Company (“Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant is exercisable to purchase one Common Share (“Warrant Share”) at an exercise price of C$0.20 per Warrant Share for a period of 24 months from the closing date of the Private Placement (the “Closing Date”).

Subject to compliance with applicable regulatory requirements, the Private Placement is being conducted pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions. The securities issued to purchasers in the Private Placement will not be subject to a hold period under applicable Canadian securities laws. There is an offering document related to the Private Placement that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at www.terrabresources.com. Prospective investors should read this offering document before making an investment decision.

The closing of the Private Placement is expected to occur on or about April 28^th, 2025. The Company may pay finder’s fees to eligible parties who locate investors to participate in the Private Placement. The Private Placement is subject to the approval of the Canadian Securities Exchange. The Company intends to use the proceeds of the Private Placement to continue drilling the Company’s portfolio of mineral exploration properties in the western Balkans and for working capital purposes, as further described in the offering document.

Debt Settlement

The Company also announces that, further to its press release dated March 12^th, 2025, it has completed its debt settlement with an arm’s length creditor by issuing 166,666 common shares of the Company at a deemed issue price of $0.09 per common share to settle outstanding debt in the amount of $15,000. The common shares are subject to a four-month hold period in accordance with applicable securities laws.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the use of proceeds for the Offering. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Offering; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

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Terra Balcanica Appoints Business Development Officer, Grants Stock Options, and Agrees To Settle Debt for Shares

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Terra Balcanica Announces Extension to LIFE Offering

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2025 / Mar

Terra Balcanica Appoints Business Development Officer, Grants Stock Options, and Agrees To Settle Debt for Shares

Vancouver, British Columbia – March 12^th 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10) announces the appointment of Mathieu Couillard as its Business Development Officer.

Mr. Couillard brings a strong background in capital markets and business strategy to his role at Terra. He is an experienced Board Member and financial consultant with expertise in advising management and board of directors on capital market strategies. During his career, Mr. Couillard served as Managing Director of investment banking at Haywood Securities in Toronto, leading the Special Situations team from 2016 to 2022. Mathieu is an experienced investment banker with extensive expertise in capital markets. He participated in over C$1 Billion in capital raises for private and public companies and is the architect of numerous mergers and acquisitions. Prior to joining Haywood Securities, Mr. Couillard was part of the Risk Management Solutions group specializing in the sales and structuring of derivative products at National Bank of Canada in Toronto. From 2006 to 2014, Mr. Couillard was part of National Bank’s investment banking group in Montreal. Mathieu is a Fellow of the Society of Actuaries and currently sits of on the board of directors of another TSX Venture listed company. Mr. Couillard has been the President and CEO of SPOD Lithium Corp. since April, 2024.

In consideration of his business development efforts, the Company will grant Mr. Couillard options and other compensation at a future date as appropriate, at the discretion of the Board of Directors.

Option Grant

The Company announces the grant of 600,000 incentive stock options (the “Options”) to certain marketing advisors and consultants in accordance with the Company’s stock option plan (the “Option Plan”). The Options are exercisable for C$0.105 per common share for a period of 2 years from the date of issuance.

Shares for Debt

The Company has further agreed to settle outstanding debt in the amount of CDN$15,000 (the “Debt”) owing to an arm’s length creditor by issuing an aggregate of 166,666 common shares in the capital of the Company (the “Common Shares”) at a price of C$0.09 per Common Share (the “Shares for Debt Transaction”). The Board of Directors has determined it is in the best interests of the Company to settle the outstanding Debt by the issuance of the Common Shares in order to preserve the Company’s cash for ongoing operations.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the use of proceeds for the Offering. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Offering; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

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Terra Balcanica Closes Oversubscribed Private Placement Financing and Grants Stock Options

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Terra Balcanica Announces LIFE Offering

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2025 / Feb

Terra Balcanica Closes Oversubscribed Private Placement Financing and Grants Stock Options

Vancouver, British Columbia – February 26^th 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the second and final tranche of the previously announced non-brokered private placement financing (the “Offering”) of units (the “Units”) for gross proceeds of $442,000 Canadian, resulting in aggregate of $571,000 raised in the Offering.

The Company issued 4,420,000 Units in this round and an aggregate of 5,710,000 Units at a price of $0.10 per Unit pursuant to the Offering announced on January 21^st, 2025. Each Unit consists of one common share in the capital of the Company (each a “Common Share”) and one Common Share purchase warrant (each a “Warrant”). Each Warrant issued in the final tranche of the Offering entitles the holder to purchase one Common Share at an exercise price of $0.15 until February 26^th, 2028. Finders’ fees in the amount of $28,840 were paid in this tranche of the Offering. Terra intends to use the net proceeds of the Offering for land holding costs and project payments as well as for working capital purposes.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the second and final tranche of the Offering are subject to a four (4) month hold period ending June 27^th, 2025. The Offering is subject to the approval of the Canadian Securities Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

Option Grant

The Company announces the grant of 2,900,000 incentive stock options (the “Options”) to certain officers, employees, advisors and consultants in accordance with the Company’s stock option plan (the “Option Plan”). The Options are exercisable for C$0.105 per common share for a period of 5 years from date of issuance.

The Company’s marketing and investor relation service provider Paradox Public Relations Inc. has been granted 500,000 options to be exercised at a price of C$0.105 per common share for a period of 60 months from the date of issuance with 125,000 options vesting quarterly for the next year.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the use of proceeds for the Offering. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Offering; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

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Terra Balcanica Closes First Tranche of Private Placement Financing

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Terra Balcanica Appoints Business Development Officer, Grants Stock Options, and Agrees To Settle Debt for Shares

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2025 / Jan

Terra Balcanica Closes First Tranche of Private Placement Financing

Vancouver, British Columbia – January 28^th 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the 1st tranche of the previously announced non-brokered private placement financing (the “Offering”) of units (the ”Units”) for gross proceeds of $129,000 Canadian.

The Company issued an aggregate of 1,290,000 Units at a price of $0.10 per Unit pursuant to the Offering of up to $400,000 announced on January 21^st, 2025. Each Unit consists of one common share in the capital of the Company (each a “Common Share”) and one Common Share purchase warrant (each a “Warrant”). Each Warrant issued in the first tranche of the Offering entitles the holder to purchase one Common Share at an exercise price of $0.15 until January 28^th, 2028. Finders’ fees in the amount of $6,930 were paid. Terra intends to use the net proceeds of the Offering for land holding costs, project payments and for general corporate and working capital purposes.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the third tranche of the Offering are subject to a four (4) month hold period ending May 29^th, 2025. The Offering is subject to the approval of the Canadian Securities Exchange.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the use of proceeds for the Offering. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Offering; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

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Terra Balcanica Announces Private Placement Financing

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Terra Balcanica Closes Oversubscribed Private Placement Financing and Grants Stock Options

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2025 / Jan

Terra Balcanica Announces Private Placement Financing

Vancouver, British Columbia – January 21^st 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce the intent to complete a non-brokered private placement (the “Private Placement”) for gross proceeds of up to C$400,000 through the issuance of up to 4,000,000 units (each a “Unit”) at a purchase price of C$0.10 per Unit. Each Unit will be comprised of one common share in the capital of the Company (“Common Share”) and a Common Share purchase warrant (“Warrant”) to purchase an additional one common share of the Company (“Warrant Share”) at an exercise price of C$0.15 per Warrant Share for a period of 36 months from the closing date of the Private Placement (the “Closing Date”).

The Units will be offered by way of prospectus exemptions in Canada, in the United States pursuant to available exemptions from the registration requirements and in certain jurisdictions outside of Canada and the United States, as determined by the Company. The Common Shares, Warrants and Warrant Shares, if issued within four months of the Closing Date, will be subject to a hold period of four months plus one day from the Closing Date in accordance with applicable Canadian securities laws. The Closing Date is expected to occur on or before February 7th, 2025, subject to regulatory approvals, including the approval of the Canadian Securities Exchange and certain other customary conditions including, but not limited to, execution of subscription agreements between the Company and the subscribers. In certain circumstances, the Company may pay finder’s fees in cash and warrants on a portion of the Private Placement. The Company intends to use the proceeds of the Private Placement for land holding costs, project payments, to continue drilling the Company’s portfolio of mineral exploration properties in the western Balkans and for general corporate and working capital purposes.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the use of proceeds for the Offering. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Offering; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

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Terra Balcanica Drills 436 g/t AgEq Over 19.6 m at Antimony-Silver Discovery in Bosnia

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Terra Balcanica Closes First Tranche of Private Placement Financing

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2025 / Jan

Terra Balcanica Drills 436 g/t AgEq Over 19.6 m at Antimony-Silver Discovery in Bosnia

Vancouver, British Columbia – January 20^th 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10) is pleased to announce strong assay results from a new discovery at the Brezani target within its principal Viogor-Zanik project in eastern Bosnia and Herzegovina.

Highlights

Drillhole BREDD002 returned 436 g/t AgEq over 19.6 m including 746 g/t AgEq and 1.42 wt.% Sb over 9.8 m;
Another mineralization style confirmed at Brezani in addition to the gold skarn with 0.61 g/t AuEq over 88.0 m from surface (see Company’s news release dated 24^th January 2023);
Mineralization trends towards surface and daylights in a topographic depression with As-Bi-Sb-Te anomalism in soil samples with a shallow “boiling-zone” drill target (Figure 1);
4 shallow drillholes, aimed at expanding the footprint of the gold skarn have been completed within the > 800 m strike length gold in soil anomaly, with assay results pending.

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments:

We are very pleased with the polymetallic assays from an interval thrice as wide as that average reported at our other Viogor-Zanik target at Cumavici. Not only have we discovered a new type of mineralization that shallows toward northeast, and as such could be easily explored from top down, but we have also confirmed the significant presence of antimony at Brezani which continues to be a scarce commodity worldwide due to supply issues and trade restrictions imposed on certain countries. Now, the drill-confirmed surficial Au bearing skarn is confirmed to be underlain by the significant fault-hosted polymetallic mineralization which itself is underpinned by andesitic porphyry. It is encouraging to see this resulted from the very first drill hole leaving a lot of upside potential at Brezani as Terra releases additional assays from the four shallower intercepts drilled into the surficial skarn.

Hole ID	From (m)	To (m)	Length (m)	Ag (g/t)	Au (g/t)	Pb (%)	Sb (%)	Zn (%)	AgEq* (g/t)
BREDD002	482.1	501.7	19.6	84.6	0.18	0.20	0.79	0.48	436
including	482.1	491.9	9.8	129.3	0.26	0.24	1.42	0.70	746

Table 1. Assay results of the new epithermal discovery in drillhole BREDD002. Interval lengths reported are drilled lengths, not true widths. Silver equivalents (“AgEq”) are based on assumed metal prices of US$2,700/oz for gold (Au), US$30/oz for silver (Ag), US$1.40/lb for zinc (Zn), US$17.50/lb for antimony (Sb) and US$0.90/lb for lead (Pb). *Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests on analogous intermediate sulphidation epithermal vein deposits. The Sb pricing derived from the Nov. 2024 average Rotterdam Warehouse 99.6% ingot price.

Drillcore Observations

Watch Brezani Technical Webinar on YouTube.

The zone of mineralization from 482.1 m consists of banded veins and sulphide cemented breccias with characteristics of both low and intermediate sulphidation epithermal deposits. The upper vein contact is sharp with minimal alteration progressing into the hornfels, whereas the vein footwall is brecciated and hosts strong clay alteration. The margins of the vein host repeating bands of chalcedonic quartz-rhodochrosite-calcite and sulphides/sulphosalts stibnite-pyrite-arsenopyrite-sphalerite-galena-jamesonite (Figure 2). The centre of the structure is dominated by hydrothermal breccia with a sulphide-quartz-carbonate cement. Clasts are banded vein fragments.

Figure 1. Section through the Brezani target illustrating conductivity and the 95th percentile magnetic shell. Drillhole BREDD002 is shown, with a tabular conductivity feature extending to the ENE from the epithermal mineralized interval. Conductivity feature is interpreted as the continuation of the host structure with increased conductivity due to sulphide and clay within the broken rock mass. It passes through a break in the magnetics, which is further evidence of structural control.

Future Exploration Program

2023 drilling at the Brezani target uncovered a new style of mineralization at the contact between the skarn-hornfels package and underlying chlorite-sericite altered diorites. The epithermal mineralization encountered 482.1 m downhole is interpreted to shallow to the ENE creating a conductivity feature which passes through a magnetic low. A topographic low with an anomalous epithermal assemblage in soil and rock chip geochemistry is interpreted as the surface expression. Future drilling efforts will aim to intersect the epithermal mineralization shallow and explore for a “boiling zone” where precious metals may have been favourably precipitated.

Figure 2.Photographs of three HQ3 diameter core samples from the interval of epithermal mineralization labelled with AgEq values for assay results of host sample. A) 482.1-482.4 m millimeter scale banded chalcedonic quartz-calcite-rhodochrosite-sulphide. B) 483.6-483.85 m calcite-rhodochrosite breccia cemented by chalcedonic quartz-sulphide crosscut by a later calcite-chalcedonic quartz-sulphide vein set. C) 485.1-485.5 m banded quartz-calcite-sulphide vein grading into a stibnite-sphalerite sulphide breccia cement with clasts of wallrock hornfels and banded veins.

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
BREDD002	368460.7	4880028.8	872.4	-70	336	674	98.4

Table 1. Collar locations for reported drillhole. Coordinates and elevation were taken by local consultant surveyors using a differential GPS unit. (WGS84/UTM Zone 34N).

QA/QC

Half core (HQ3) samples were delivered to ALS Bor, Serbia for sample preparation and subsequent wet chemical analysis at the Loughrea laboratory in Ireland, an ISO/IEC 17025:2017 certified test facility. Sample preparation PREP-31BY method involved crushing the core to 70% less than 2 mm, rotary split 1.0 kg and pulverizing the split to greater than 85% passing 75 microns. Silver and base metals were analysed by ICP MS after a four-acid digest (ME-MS61). Gold was assayed by 30g fire assay with ICP AES finish (Au-ICP21). Over limit samples for base metals were re-analysed by the four-acid digest ICP-AES analyses termed ME-OG62. Control samples comprising the certified reference material CDN-ME-1810 (Canadian Resource Labs Ltd.), quarter core field duplicates and blanks were inserted at a rate of 9 % and investigated as part of the Company’s quality assurance and quality control program.

Qualified Person

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

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Table 2. Chemical assays for the remainder of the drill hole BREDD002 form the 2023 Phase II campaign at the Brezani Target. Assays for the topmost 214 were released previously.

ALS Method				Au-ICP21	ME-MS61	ME-MS61	ME-MS61	ME-MS61	ME-MS61
Analyte	From (m)	To (m)	Interval (m)	Au (g/t)	Ag (g/t)	Cu (%)	Pb (%)	Zn (%)	Sb (%)
105652	215	217	2.0	0.08	0.12	0.00	0.01	0.01	0.00
105653	217	218.1	1.1	0.15	0.18	0.00	0.01	0.01	0.00
105654	218.1	219.3	1.2	0.05	0.12	0.01	0.01	0.01	0.00
105655	219.3	219.7	0.4	0.02	0.30	0.01	0.01	0.02	0.00
105656	219.7	220.05	0.4	0.02	0.56	0.00	0.04	0.04	0.00
105657	220.05	221.2	1.2	0.02	0.60	0.00	0.03	0.07	0.00
105658	221.2	221.65	0.5	0.01	0.22	0.01	0.01	0.01	0.00
105659	221.65	223.6	2.0	0.01	0.24	0.01	0.01	0.02	0.00
*105660*	221.65	223.6	2.0	0.01	0.23	0.01	0.01	0.02	0.00
105661	223.6	225	1.4	0.04	0.18	0.01	0.01	0.01	0.00
105662	225	227	2.0	0.06	0.14	0.01	0.01	0.01	0.00
105663	227	229	2.0	0.05	0.14	0.01	0.01	0.01	0.00
105664	229	231	2.0	0.04	0.32	0.01	0.01	0.01	0.00
105665	231	233	2.0	0.09	0.16	0.01	0.01	0.01	0.00
105666	233	235	2.0	0.02	0.19	0.01	0.01	0.01	0.00
105667	235	237	2.0	0.01	0.12	0.00	0.00	0.01	0.00
105668	237	239	2.0	0.02	0.08	0.00	0.00	0.01	0.00
105669	239	241	2.0	0.02	0.06	0.00	0.00	0.01	0.00
105670	241	243	2.0	0.02	0.10	0.00	0.00	0.01	0.00
105671	243	245	2.0	0.02	0.17	0.00	0.01	0.01	0.00
105672	245	246.4	1.4	0.02	0.20	0.00	0.01	0.01	0.00
105673	246.4	248.2	1.8	0.05	0.11	0.01	0.00	0.02	0.00
105674	248.2	250.25	2.1	0.06	0.14	0.01	0.00	0.04	0.00
*105675*				1.38	33.70	0.29	0.38	0.25	0.01
105676	250.25	251.5	1.3	0.03	0.25	0.01	0.01	0.01	0.00
105677	251.5	253	1.5	0.08	0.25	0.01	0.00	0.02	0.01
105678	253	255.05	2.1	0.08	1.88	0.00	0.01	0.02	0.01
105679	255.05	256.7	1.7	0.04	0.55	0.00	0.01	0.02	0.01
105680	256.7	258.3	1.6	0.05	0.14	0.00	0.01	0.02	0.00
105681	258.3	260	1.7	0.07	0.20	0.00	0.01	0.02	0.00
105682	260	262	2.0	0.01	0.31	0.00	0.01	0.01	0.00
105683	262	264	2.0	0.02	0.12	0.00	0.01	0.01	0.00
105684	264	266	2.0	0.03	0.15	0.00	0.00	0.02	0.00
105685	266	267.35	1.4	0.04	0.25	0.00	0.01	0.02	0.00
105686	267.35	268.6	1.3	0.03	0.16	0.00	0.01	0.02	0.00
105687	268.6	270.85	2.3	0.01	0.23	0.00	0.01	0.01	0.00
105688	270.85	272.45	1.6	0.02	0.16	0.00	0.01	0.03	0.00
105689	272.45	273.25	0.8	0.02	0.45	0.01	0.01	0.03	0.00
*105690*	272.45	273.25	0.8	0.01	0.39	0.01	0.01	0.03	0.00
105691	273.25	275.5	2.3	0.02	0.29	0.00	0.01	0.01	0.00
105692	275.5	278.4	2.9	0.03	0.14	0.00	0.00	0.01	0.00
105693	278.4	280.9	2.5	0.02	0.14	0.00	0.01	0.02	0.00
105694	280.9	283.15	2.3	0.03	0.14	0.00	0.01	0.03	0.00
105695	283.15	285	1.9	0.01	0.09	0.00	0.01	0.01	0.00
105696	285	288	3.0	0.02	0.17	0.00	0.01	0.01	0.00
105697	288	289.8	1.8	0.01	0.12	0.00	0.01	0.01	0.00
105698	289.8	291.7	1.9	0.03	0.17	0.00	0.01	0.02	0.01
105699	291.7	292.7	1.0	0.01	0.20	0.00	0.01	0.01	0.01
105700	292.7	293.3	0.6	0.02	0.15	0.01	0.01	0.01	0.00
105701	293.3	296.1	2.8	0.04	0.09	0.00	0.00	0.01	0.00
105702	296.1	298	1.9	0.14	0.13	0.00	0.00	0.01	0.00
105703	298	300	2.0	0.03	0.17	0.00	0.01	0.01	0.00
105704	300	302.25	2.3	0.02	0.09	0.01	0.01	0.01	0.00
*105705*				0.00	0.02	0.00	0.00	0.00	0.00
105706	302.25	304.5	2.3	0.02	0.10	0.00	0.00	0.01	0.00
105707	304.5	307	2.5	0.03	0.17	0.00	0.00	0.01	0.00
105708	307	309	2.0	0.03	0.19	0.00	0.00	0.01	0.00
105709	309	311.3	2.3	0.02	0.17	0.00	0.00	0.01	0.00
105710	311.3	311.9	0.6	0.03	0.52	0.00	0.00	0.00	0.01
105711	311.9	313.35	1.5	0.03	0.10	0.00	0.01	0.01	0.00
105712	313.35	314.05	0.7	0.02	0.10	0.00	0.00	0.03	0.00
105713	314.05	315.35	1.3	0.03	0.18	0.00	0.01	0.01	0.00
105714	315.35	316.6	1.3	0.05	0.22	0.01	0.00	0.01	0.00
105715	316.6	318.6	2.0	0.03	0.17	0.01	0.00	0.01	0.00
105716	318.6	320.6	2.0	0.01	0.14	0.00	0.01	0.01	0.00
105717	320.6	322.9	2.3	0.01	0.34	0.01	0.01	0.01	0.01
105718	322.9	324.65	1.8	0.01	0.13	0.00	0.00	0.01	0.00
105719	324.65	325.3	0.7	0.02	0.08	0.00	0.00	0.01	0.00
*105720*	324.65	325.3	0.7	0.02	0.05	0.00	0.00	0.02	0.00
105721	325.3	326.8	1.5	0.01	0.09	0.00	0.00	0.01	0.00
105722	326.8	328.25	1.5	0.02	0.18	0.01	0.01	0.01	0.00
105723	328.25	330.65	2.4	0.02	0.05	0.00	0.00	0.01	0.00
105724	330.65	332.85	2.2	0.02	0.12	0.01	0.00	0.01	0.00
105725	332.85	334.2	1.4	0.11	0.20	0.00	0.01	0.03	0.01
105726	334.2	336	1.8	0.05	0.96	0.00	0.00	0.01	0.01
105727	336	338	2.0	0.01	0.14	0.01	0.01	0.01	0.00
105728	338	340	2.0	0.02	0.06	0.01	0.00	0.01	0.00
105729	340	342	2.0	0.03	0.09	0.01	0.00	0.01	0.00
105730	342	344	2.0	0.02	0.07	0.00	0.01	0.01	0.00
105731	344	346	2.0	0.02	0.11	0.00	0.01	0.01	0.01
105732	346	348	2.0	0.01	0.09	0.00	0.01	0.00	0.02
105733	348	350	2.0	0.02	0.13	0.01	0.00	0.01	0.01
105734	350	352	2.0	0.04	0.06	0.01	0.00	0.01	0.00
*105735*				1.33	33.10	0.29	0.37	0.24	0.01
105736	352	354	2.0	0.01	0.07	0.01	0.00	0.01	0.00
105737	354	356	2.0	0.02	0.05	0.01	0.00	0.01	0.00
105738	356	358	2.0	0.03	0.91	0.01	0.00	0.01	0.01
105739	358	360	2.0	0.02	0.27	0.01	0.00	0.01	0.01
105740	360	362	2.0	0.02	0.14	0.01	0.00	0.01	0.00
105741	362	364	2.0	0.01	0.24	0.01	0.00	0.01	0.00
105742	364	366	2.0	0.01	0.23	0.01	0.00	0.01	0.00
105743	366	368	2.0	0.02	0.20	0.01	0.00	0.01	0.00
105744	368	370	2.0	0.01	0.66	0.01	0.00	0.00	0.01
105745	370	371.7	1.7	0.02	0.39	0.01	0.01	0.01	0.01
105746	371.7	372.9	1.2	0.02	0.36	0.01	0.00	0.01	0.01
105747	372.9	374.75	1.9	0.04	2.00	0.01	0.01	0.01	0.02
105748	374.75	377	2.3	0.03	0.74	0.01	0.01	0.01	0.01
105749	377	379	2.0	0.02	0.12	0.01	0.00	0.00	0.00
*105750*	377	379	2.0	0.02	0.13	0.01	0.00	0.01	0.00
*105751*				1.27	30.50	0.28	0.35	0.23	0.01
*105752*				0.00	0.02	0.00	0.00	0.00	0.00
105753	379	381	2.0	0.02	0.17	0.01	0.00	0.01	0.01
105754	381	384	3.0	0.01	0.12	0.01	0.00	0.01	0.01
105755	384	386.35	2.4	0.03	0.19	0.01	0.00	0.01	0.00
105756	386.35	388.65	2.3	0.01	0.13	0.01	0.00	0.01	0.00
105757	388.65	390.4	1.8	0.08	6.51	0.02	0.01	0.02	0.01
105758	390.4	392.15	1.8	0.02	0.25	0.01	0.00	0.01	0.00
105759	392.15	395	2.9	0.02	0.19	0.01	0.00	0.01	0.00
105760	395	397.65	2.7	0.02	0.27	0.01	0.00	0.01	0.01
105761	397.65	397.95	0.3	0.03	1.82	0.01	0.01	0.02	0.05
105762	397.95	399.4	1.5	0.01	0.22	0.01	0.00	0.01	0.01
105763	399.4	399.95	0.6	0.01	0.14	0.01	0.00	0.01	0.00
105764	399.95	401.45	1.5	0.03	0.13	0.01	0.00	0.00	0.01
*105765*				1.32	33.60	0.28	0.37	0.25	0.01
105766	401.45	401.95	0.5	0.02	0.25	0.01	0.00	0.01	0.02
105767	401.95	403.55	1.6	0.02	0.39	0.01	0.01	0.01	0.01
105768	403.55	405.3	1.8	0.02	0.17	0.01	0.01	0.01	0.00
105769	405.3	405.75	0.5	0.00	0.12	0.00	0.00	0.04	0.00
105770	405.75	407.7	2.0	0.03	0.23	0.01	0.01	0.01	0.00
105771	407.7	409.5	1.8	0.01	0.07	0.01	0.00	0.01	0.00
105772	409.5	411.35	1.9	0.00	0.09	0.01	0.00	0.01	0.00
105773	411.35	413.6	2.3	0.02	0.26	0.01	0.01	0.01	0.00
105774	413.6	415.95	2.4	0.06	0.34	0.01	0.01	0.01	0.00
105775	415.95	416.35	0.4	0.01	0.09	0.01	0.00	0.01	0.00
105776	416.35	418.2	1.9	0.03	0.15	0.01	0.00	0.01	0.00
105777	418.2	420.5	2.3	0.02	0.20	0.01	0.00	0.01	0.00
105778	420.5	421.8	1.3	0.01	0.15	0.00	0.00	0.01	0.00
105779	421.8	423.6	1.8	0.02	0.12	0.01	0.00	0.01	0.00
*105780*	421.8	423.6	1.8	0.01	0.09	0.01	0.00	0.01	0.00
105781	423.6	425.3	1.7	0.02	0.13	0.01	0.00	0.01	0.00
105782	425.3	427.2	1.9	0.03	0.41	0.00	0.01	0.03	0.00
105783	427.2	429.1	1.9	0.01	0.08	0.00	0.00	0.01	0.00
105784	429.1	431	1.9	0.03	0.12	0.01	0.00	0.01	0.00
105785	431	432.85	1.9	0.05	0.11	0.00	0.00	0.00	0.00
105786	432.85	434.85	2.0	0.04	0.37	0.01	0.00	0.01	0.00
105787	434.85	436.85	2.0	0.02	0.23	0.01	0.00	0.01	0.00
105788	436.85	438.85	2.0	0.02	0.21	0.01	0.00	0.01	0.00
105789	438.85	440.85	2.0	0.04	0.16	0.01	0.00	0.01	0.00
105790	440.85	442.6	1.8	0.01	0.09	0.01	0.00	0.01	0.00
105791	442.6	444.75	2.2	0.02	0.08	0.01	0.00	0.01	0.00
105792	444.75	446.9	2.2	0.02	0.20	0.01	0.01	0.01	0.00
105793	446.9	449.1	2.2	0.04	0.10	0.01	0.00	0.01	0.00
105794	449.1	451.5	2.4	0.15	0.10	0.01	0.00	0.01	0.00
*105795*				<0.001	0.03	0.00	0.00	0.00	0.00
105796	451.5	453.1	1.6	0.03	0.29	0.01	0.00	0.01	0.01
105797	453.1	453.9	0.8	0.20	5.01	0.00	0.06	0.04	0.05
105798	453.9	454.6	0.7	0.01	0.38	0.00	0.00	0.01	0.00
105799	454.6	457	2.4	0.03	0.13	0.01	0.01	0.01	0.00
105800	457	459.35	2.4	0.03	0.04	0.00	0.00	0.01	0.00
106136	504	506	2.0	0.01	1.05	0.00	0.01	0.01	0.01
106137	506	508	2.0	0.02	0.83	0.01	0.01	0.01	0.01
106138	508	510	2.0	0.02	0.64	0.00	0.01	0.01	0.01
106139	510	512	2.0	0.01	0.68	0.00	0.01	0.01	0.01
*106140*	510	512	2.0	0.01	0.73	0.00	0.01	0.01	0.01
106141	512	514	2.0	0.21	2.54	0.01	0.03	0.01	0.02
106142	514	516	2.0	0.11	2.93	0.01	0.01	0.02	0.02
106143	516	518	2.0	0.13	3.80	0.01	0.01	0.01	0.01
106144	518	520	2.0	0.03	1.86	0.00	0.00	0.01	0.01
106145	520	522	2.0	0.02	1.30	0.00	0.00	0.01	0.01
106146	522	524	2.0	0.07	7.26	0.00	0.01	0.01	0.01
106147	524	526	2.0	0.08	3.40	0.01	0.02	0.06	0.02
106148	526	528	2.0	0.01	0.17	0.00	0.00	0.00	0.01
106149	528	530	2.0	0.01	0.09	0.00	0.00	0.00	0.00
106150	530	532	2.0	0.02	0.24	0.00	0.01	0.01	0.01
106151	532	534	2.0	0.07	5.51	0.00	0.01	0.06	0.01
106152	534	536	2.0	0.07	7.56	0.01	0.01	0.02	0.01
106153	536	538.1	2.1	0.02	2.35	0.01	0.00	0.01	0.01
106154	538.1	538.9	0.8	0.04	3.34	0.00	0.02	0.03	0.01
*106155*				0.00	0.03	0.00	0.00	0.00	0.00
106156	538.9	539.9	1.0	0.19	3.72	0.00	0.01	0.06	0.01
106157	539.9	541.1	1.2	0.12	4.41	0.01	0.00	0.02	0.02
106158	541.1	541.7	0.6	0.07	4.52	0.00	0.00	0.03	0.01
106159	541.7	544.2	2.5	0.01	1.05	0.01	0.00	0.02	0.01
106160	544.2	546.6	2.4	0.21	0.15	0.01	0.00	0.01	0.00
106161	546.6	548.2	1.6	0.12	3.21	0.01	0.01	0.02	0.01
106162	548.2	550.4	2.2	0.05	0.30	0.01	0.01	0.01	0.00
106163	550.4	552.7	2.3	0.08	0.34	0.01	0.01	0.01	0.00
106164	552.7	554.7	2.0	0.02	0.09	0.01	0.00	0.01	0.00
106165	554.7	556.7	2.0	0.05	0.24	0.01	0.00	0.01	0.00
106166	556.7	558.7	2.0	0.01	0.11	0.00	0.00	0.01	0.00
106167	558.7	560.7	2.0	0.01	0.12	0.00	0.00	0.02	0.00
106168	560.7	562.5	1.8	0.02	0.43	0.00	0.01	0.02	0.00
106169	562.5	563	0.5	0.09	4.12	0.00	0.08	0.03	0.02
106170	563	564.75	1.8	0.02	0.11	0.01	0.00	0.02	0.00
*106171*	563	564.75	1.8	0.02	0.08	0.01	0.00	0.01	0.00
106172	564.75	566.5	1.8	0.03	0.18	0.01	0.00	0.01	0.00
106173	566.5	567.8	1.3	0.02	0.95	0.01	0.00	0.02	0.00
106174	567.8	570	2.2	0.02	0.19	0.01	0.00	0.02	0.00
106175	570	572	2.0	0.02	0.15	0.00	0.00	0.02	0.00
106176	572	573.9	1.9	0.01	0.14	0.00	0.00	0.01	0.00
106177	573.9	575.85	2.0	0.18	1.48	0.00	0.00	0.03	0.01
106178	575.85	578	2.2	0.03	0.08	0.01	0.00	0.01	0.00
106179	578	580	2.0	0.02	0.15	0.00	0.00	0.01	0.00
106180	580	582	2.0	0.03	0.08	0.00	0.00	0.01	0.00
106181	582	584	2.0	0.04	0.10	0.00	0.00	0.02	0.00
106182	584	586	2.0	0.02	0.11	0.00	0.00	0.02	0.00
106183	586	588	2.0	0.02	0.05	0.00	0.00	0.02	0.00
106184	588	590	2.0	0.03	0.10	0.01	0.00	0.01	0.00
*106185*				1.31	35.30	0.29	0.39	0.25	0.00
106186	590	592	2.0	0.04	0.11	0.00	0.00	0.02	0.01
106187	592	594	2.0	0.03	0.07	0.01	0.00	0.01	0.00
106188	594	596	2.0	0.02	0.14	0.00	0.00	0.01	0.01
106189	596	598.45	2.5	0.04	0.14	0.00	0.00	0.02	0.00
106190	598.45	600	1.6	0.06	0.21	0.01	0.01	0.02	0.01
106191	600	601.15	1.2	0.01	0.32	0.00	0.01	0.01	0.01
106192	601.15	602.1	1.0	0.01	0.06	0.00	0.00	0.01	0.02
106193	602.1	603.5	1.4	0.00	0.36	0.00	0.01	0.02	0.01
106194	603.5	605	1.5	0.01	0.11	0.00	0.00	0.01	0.00
106195	605	607	2.0	0.02	0.11	0.00	0.00	0.01	0.00
106196	607	609	2.0	0.02	0.07	0.00	0.00	0.01	0.00
106197	609	611	2.0	0.01	0.07	0.00	0.00	0.01	0.00
106198	611	613	2.0	0.02	0.30	0.00	0.01	0.01	0.00
106199	613	615	2.0	0.02	0.08	0.00	0.00	0.01	0.00
*106200*	613	615	2.0	0.02	0.09	0.00	0.00	0.01	0.00
*106201*				1.36	32.20	0.29	0.38	0.25	0.01
*106202*				0.00	0.03	0.00	0.00	0.00	0.00
106203	615	617	2.0	0.01	0.07	0.00	0.00	0.01	0.00
106204	617	619	2.0	0.01	0.22	0.00	0.01	0.01	0.00
106205	619	620.7	1.7	0.00	0.09	0.00	0.00	0.01	0.00
106206	620.7	622.9	2.2	0.02	0.49	0.00	0.01	0.01	0.00
106207	622.9	625	2.1	0.03	0.09	0.00	0.00	0.01	0.00
106208	625	627	2.0	0.01	0.09	0.00	0.00	0.01	0.00
106209	627	629.1	2.1	0.01	0.21	0.00	0.01	0.01	0.00
106210	629.1	631	1.9	0.01	0.20	0.00	0.01	0.01	0.00
106211	631	633	2.0	0.00	0.17	0.00	0.01	0.01	0.00
106212	633	635	2.0	0.01	0.33	0.00	0.01	0.03	0.00
106213	635	637	2.0	0.00	0.07	0.00	0.00	0.01	0.00
106214	637	639	2.0	0.01	0.10	0.00	0.00	0.01	0.00
*106215*				1.40	30.30	0.29	0.37	0.25	0.01
106216	639	641	2.0	0.01	0.14	0.00	0.00	0.01	0.00
106217	641	643	2.0	0.02	0.12	0.00	0.00	0.01	0.00
106218	643	645	2.0	0.05	0.13	0.00	0.00	0.01	0.00
106219	645	647	2.0	0.01	0.10	0.00	0.00	0.01	0.00
106220	647	649	2.0	0.01	0.10	0.00	0.00	0.01	0.00
106221	649	651	2.0	0.00	0.11	0.00	0.00	0.01	0.00
106222	651	653	2.0	0.06	0.15	0.00	0.00	0.01	0.00
106223	653	655	2.0	0.01	0.07	0.00	0.00	0.01	0.00
106224	655	657	2.0	0.05	0.27	0.00	0.01	0.01	0.00
106225	657	659	2.0	0.01	0.07	0.00	0.00	0.01	0.00
106226	659	661	2.0	0.01	0.05	0.00	0.00	0.01	0.00
106227	661	663	2.0	0.01	0.04	0.00	0.00	0.01	0.00
106228	663	665	2.0	0.01	0.06	0.00	0.00	0.01	0.00
*106229*	665	667	2.0	0.01	0.05	0.00	0.00	0.01	0.00
*106230*	665	667	2.0	0.02	0.07	0.00	0.00	0.01	0.00
106231	667	668.5	1.5	0.01	0.05	0.00	0.00	0.01	0.00
106232	668.5	670.12	1.6	0.01	0.06	0.00	0.00	0.01	0.00
106233	670.12	670.82	0.7	0.19	0.97	0.01	0.01	0.02	0.00
106234	670.82	672.4	1.6	0.01	0.08	0.00	0.00	0.01	0.00
106235	672.4	674	1.6	0.01	0.03	0.00	0.00	0.01	0.00

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Terra Balcanica Discovers Silver and Antimony Dominated Epithermal Mineralization at Brezani in Bosnia and Herzegovina

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Terra Balcanica Announces Private Placement Financing

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2025 / Jan

Terra Balcanica Discovers Silver and Antimony Dominated Epithermal Mineralization at Brezani in Bosnia and Herzegovina

Vancouver, British Columbia – January 15^th 2025 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10) is pleased to announce the discovery of a ca. 20 m wide zone of polymetallic mineralization intercepted during the Phase II drilling at the Brezani target within its principal Viogor-Zanik project in eastern Bosnia and Herzegovina.

Highlights

Continuation of drillhole BREDD002, which returned 88 m at 0.61 g/t AuEq from surface (see company news release dated 24^th January 2023) has intercepted a substantial zone of low/intermediate sulphidation epithermal mineralization;
A ca. 10 m zone of continuous colloform/ginguro banded quartz-carbonate-sulphide and sulphide cemented breccia (Figure 1) sits at the upper contact of a structural zone where observed epithermal veining extends for a least 20 m;
Epithermal mineralization projects ENE towards surface following a conductivity gradient within a magnetic low and is interpreted to daylight in a topographic depression where As-Bi-Sb-Te is anomalous in soil sample assays, offering a shallower drill target (Figure 2);
Mineralization is polymetallic (Sb-Pb-Zn +/- Au-Ag) with evidence of several mineralizing and fluid boiling events (Figure 3);
Terminating at a depth of 674 m, the hole intercepted 118.4 m of chlorite-sericite altered diorite porphyry;
Terra has commenced a dense soil sampling program across the multi-domain Brezani hydrothermal system to enhance the domains of gold skarn and surface expression of epithermal mineralization (Figure 4);
Samples from BREDD002 are currently being analysed and will be reported after the internal QA/QC program has been completed and data deemed good quality.

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented:

We are very excited with the Brezani discovery which adds further value to this multi-domain, polymetallic target. The significant mineralized intercept underlies the previously confirmed auriferous skarn starting from surface and overlies a porphyry system which Terra has been targeting at Viogor-Zanik from the very outset. We believe the potential of our discovery at Brezani, especially the macroscopically identified antimony sulfides, is tremendous considering the shallowing of the epithermal mineralization along a presumed fault to northeast and stratigraphic intercept below the boiling horizon which will be targeted by our future drill programs. Collectively, this is a thrilling development for Terra as we look forward to releasing the Brezani assay results shortly.

The Company commenced redrilling BREDD002 from 215 m where 2022 drilling efforts ended in a chlorite-sericite altered diorite porphyry, returning 0.26 g/t Au and reached a depth of 674 m.

The drillhole targeted a coincident magnetic and conductivity anomaly and intersected several zones of calc-silicate alteration associated with phyllic and chlorite-sericite altered diorite porphyries. A zone of epithermal mineralization within a large structure was intersected from 482.1 m downhole which marked the change into chlorite-sericite altered porphyritic diorites.

Figure 1. Photographs of three HQ3 diameter core boxes between 480.7 – 491.9 m in BREDD002. Photographs show the consistently well mineralized epithermal system which grades inwards from ginguro banded chalcedonic quartz-rhodochrosite-calcite-sulphide on the vein margins to a base metal rich central domain consisting of stibnite-sphalerite and minor galena breccia cement. Breccia is host to mineralized clasts of banded veins indicating multiple episodes of mineralization and boiling.

Drillcore Observations

The zone of mineralization from 482.1 m consists of banded veins and sulphide cemented breccias with characteristics of both low and intermediate sulphidation epithermal deposits. The upper vein contact is sharp with minimal alteration progressing into the hornfels, whereas the vein footwall is brecciated and hosts strong clay alteration. The margins of the vein host repeating bands of chalcedonic quartz-rhodochrosite-calcite and sulphides/sulphosalts stibnite-pyrite-arsenopyrite-sphalerite-galena-jamesonite. The centre of the structure is dominated by hydrothermal breccia with a sulphide-quartz-carbonate cement. Clasts are banded vein fragments.

BREDD002 ended at 674 m depth after 118.4 m of chlorite-sericite altered diorite porphyry intrusive. Sinuous quartz-pyrite-molybdenite veins, quartz-magnetite, anhydrite-carbonate, pyrite-chlorite, and pyrrhotite-carbonate veining is present alongside disseminated pyrite-pyrrhotite. Alteration is interpreted as strongly overprinted potassic, by chlorite-sericite. Local phyllic and strong chlorite alteration is observed associated with carbonate-arsenopyrite-bismuthinite veins. The intrusive texture is partially destroyed by the silica groundmass flooding and formation of very fine-grained biotite giving the rock a reddish brown to grey-green colouration with chlorite replacement and coarser grained muscovite mica. Hornblende phenocrysts have been replaced by biotite and magnetite.

Figure 2. Section through the Brezani target illustrating conductivity and the 95th percentile magnetic shell. Drillhole BREDD002 is shown, with a tabular conductivity feature extending in cros section to the ENE from the epithermal mineralized interval. Conductivity feature is interpreted as the continuation of the host structure with increased conductivity due to sulphide and clay within the broken rock mass. It passes through a break in the magnetics, which is further evidence of structural control.

Figure 3. Photographs of core samples from the interval of epithermal mineralization. A) 482.1-482.4 m millimeter scale banded chalcedonic quartz-calcite-rhodochrosite-sulphide, B) 483.6-483.85 m calcite-rhodochrosite breccia cemented by chalcedonic quartz-sulphide crosscut by a later calcite-chalcedonic quartz-sulphide vein set, and C) 485.1-485.5 m banded quartz-calcite-sulphide vein grading into a stibnite-sphalerite sulphide breccia cement with clasts of hornfels and banded veins.

Ongoing Exploration Program

Terra is undertaking a soil survey across the Brezani target on a 20 x 100 m grid (Figure 4). Sample frequency is tighter in the E/W direction perpendicular to the gold skarn and epithermal corridor. This will build on the initial 175 x 175 m, aqua regia ICP-MS soil sampling and delineate geochemical domains. The interpreted surface expression of the newly discovered epithermal mineralization will be covered, and results will assist in targeting prospective intervals along the strike length of this structure for shallow, follow up drilling. Analysis is undertaken by an Olympus Vanta unit and monitored by quality control using blanks and certified reference materials.

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
BREDD002	368460.7	4880028.8	872.4	-70	336	674	98.4

Table 1. Collar locations for reported drillhole BREDD002. Coordinates and elevation were taken by local consultant surveyors using a differential GPS unit. (WGS84/UTM Zone 34N).

Figure 4. Magnetic map overlain by planned and taken soil samples of the 2023 pXRF soil survey, existing ALS analysed soil samples, geochemical contours and Phase II drillholes. The known gold skarn, and interpreted epithermal corridor are labelled, and will be differentiated based on the dense sampling grid currently in progress. (WGS84/UTM Zone 34N)

Qualified Person

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

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Terra Balcanica Highlights Silver and Antimony Potential of the Bosnian Viogor-Zanik Project

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Terra Balcanica Drills 436 g/t AgEq Over 19.6 m at Antimony-Silver Discovery in Bosnia

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2024 / Dec

Terra Balcanica Highlights Silver and Antimony Potential of the Bosnian Viogor-Zanik Project

Vancouver, British Columbia – December 9^th 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB10) is pleased to highlight the polymetallic potential of its 168 km2 Viogor-Zanik project in eastern Bosnia in anticipation of the Phase II drilling results

After approximately 2,200 m of diamond drilling completed at Chumavichi, high grade, fault-hosted Ag-Sb-Pb-Zn-Au mineralization has been confirmed at three targets spanning over 2 km along this shallow, fault dominated, intermediate sulfidation polymetallic vein system (Figures 1 and 2). At the Company’s second Viogor-Zanik target of Brezani (Figures 3), Terra discovered an auriferous skarn starting from surface, superimposed on a >1.2 km long, NE-shallowing Ag-Sb-Pb-Zn mineralized, fault-hosted permeability corridor itself overlying a porphyry andesitic stock (see the Company’s news release from April 11^th, 2024). The Company completed over 1,200 m of diamond drilling at Brezani with additional drill hole assays to be released imminently

The significant potential of silver and antimony mineralization is highlighted by the drill results from Chumavichi (Table 1) and preliminary drill core observation from the Phase II drilling at Brezani.

Highlights

Chumavichi Ridge drillhole CMVDD001 intercepted 824.2 g/t AgEq. with 1.85 wt.% Sb over 4.0 m from 29 m of depth, including 1,634.4 g/t AgEq. with 3.7 wt.% Sb over 2 meters;
Chumavichi Ridge drill hole CMVDD002 intercepted 816.1 g/t AgEq. over 2.0 m;
CMVDD003, 83-meter away from CMVDD001, intercepted a vein interval of 465.5 g/t AgEq. and 1.2 wt.% Sb over 8.7 m, including 1196.6 g/t AgEq. with 3.5 wt.% Sb over 2.0 meters;
Drillhole CMVDD005 returned 284 g/t AgEq over 10.0 m including 895.8 g/t AgEq with 1.8 wt.% Sb over 2.0 m approximately 50 m west-northwest of CMVDD002 (Figure 2);
The Chumavichi Ridge drillhole CMVDD004 along the same drill fence 40 m northeast of CMVDD005 returned 505.3 g/t AgEq with 1.48 wt.% Sb over 11.0 m from 43.0 m depth including 3075.4 g/t AgEq (108.5 oz/t AgEq) with 9.4 wt.% Sb over 1.7 m;
Shallow, polymetallic mineralization was also intersected 600 m NW of the Cumavici Ridge where two drill holes through a new parallel structure returned 1,041 g/t AgEq with 2.95 wt.% Sb over 0.75 m (CMV23007), and 554 g/t AgEq with 1.17 wt.% Sb over 1.10 m (CMV23009);
Drillhole CMV23004 intersected 1,489 g/t AgEq with 1.98 wt.% Sb over 1.35 m from 36.2 m downhole to add 42 m strike length SE of CMVDD002 with mineralization open down-dip;
Drillhole CMV23003 intersected 557 g/t AgEq with 0.77 wt.% Sb over 4.15 m from 43.85 m and points to a down-dip continuation of the high-grade mineralization from CMV23004.

Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Zn (%)	Pb (%)	Sb (%)	AgEq* (g/t)
CMVDD001	29.0	33.0	4.0	0.84	131.5	4.59	2.12	1.85	824
CMVDD002	30.0	32.0	2.0	0.23	144	8.26	4.27	0.44	816
CMVDD003	89.0	97.7	8.7	0.81	105	1.17	0.70	1.20	466
CMVDD004	43.0	54.0	11.0	0.30	225	0.83	0.56	1.48	505
CMVDD005	81.0	91.0	10.0	0.78	75	0.61	0.40	0.68	284
CMV23001	11.0	15.8	4.8	1.61	132	1.51	0.57	1.56	819*
CMV23002b	22.0	25.8	3.8	0.70	124.5	5.53	2.72	0.48	549*
CMV23003	43.85	48.0	4.15	0.71	57.1	4.39	3.18	0.77	557*
CMV23004	36.2	37.55	1.35	3.49	452	3.36	2.14	1.98	1489*

Table 1. Previously released drill core assay from the Chumavichi target. Interval lengths reported are drilled lengths, not true widths. Silver equivalents (“AgEq”) for Phase II assays marked by * are recalculated based on latest assumed metal prices of US$2,600/oz for gold (Au), US$30/oz for silver (Ag), US$1.40/lb for zinc (Zn), US$15.22/lb for antimony (Sb) and US$0.90/lb for lead (Pb). *Metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests from analogous intermediate sulphidation epithermal vein deposits.

Figure 1. Geological map illustrating the drillholes at the Cumavici Ridge locality. AgEq values are labelled for selected 2022 and 2023 drill intercepts (See Company’s new releases dated 13 November 2023, 27 February 2023). Current drilling efforts confirm mineralization over 82 m NW/SE strike length. (WGS84/UTM Zone 34N)

Figure 2. Fence diagram of Phase I and II drilling completed at the Cumavici Ridge target. Polymetallic mineralization intervals are highlighted in red. The mineralization remains untested and open down dip to the southwest and entirely open to the NW. The high-grade mineralization footprint currently sits at approximately 150 m (strike length) by 200 m in down dip direction

The Brezani Phase II drillhole BREDD002 has apparently intercepted stibnite-rich (Sb) epithermal mineralization between 482.1 and 505 m of depth (Figure 3). The zone of mineralization consists of banded veins and massive sulphide cemented breccias with structural and mineralogical characteristics of both low and intermediate sulphidation epithermal deposits. The upper vein contact is sharp with minimal alteration progressing into the hornfels, whereas the vein footwall is brecciated and hosts strong clay alteration. The margins of the vein host repeating bands of chalcedonic quartz-rhodochrosite-calcite and sulphides/sulphosalts stibnite-pyrite-arsenopyrite-sphalerite-galena-jamesonite. The centre of the mineralized structure is dominated by hydrothermal breccia with a sulphide-quartz-carbonate cement. Clasts are banded vein fragments.

The mineralized body is interpreted to be coincident with the zone of elevated conductivity as it shallows to NE (Figure 3). Where the coincident conductivity body and magnetic low response is matched with a N/S trending topographic depression, which grades into a steep sided creek. Exploration efforts within this creek have revealed numerous showings of As-Bi-Pb-Sb-Zn anomalous gossans and semi massive hematite-specularite. These gossans are evidence for epithermal fluids reaching the current surface level. It is possible that drilling efforts targeting this structure would intersect a series of veins and breccias in the hanging wall of the major target structure.

Figure 3. Section profile through the Brezani target integrating the location of the NE-shallowing, tabular mineralized structure identified downhole in BREDD002 between 482 and 505 m with the magnetic shell and smoothed conductivity voxel clipped to values above 27 mS/m. The conductivity feature is interpreted as the continuation of the host structure dominated by Sb sulphides and clay within the broken rock mass

Qualified Person

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

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Terra Balcanica Closes Oversubscribed Private Placement Financing

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Terra Balcanica Discovers Silver and Antimony Dominated Epithermal Mineralization at Brezani in Bosnia and Herzegovina

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2024 / Oct

Terra Balcanica Closes Oversubscribed Private Placement Financing

Vancouver, British Columbia – October 30^th 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the final tranche of the previously announced non-brokered private placement financing (the “Offering”) of units (the “Units”) for gross proceeds of $38,125 Canadian, resulting in aggregate gross proceeds of $986,885 raised in the Offering.

The Company issued an aggregate of additional 381,250 Units at a price of $0.10 per Unit pursuant to the final tranche of the Offering first announced on May 17^th, 2024 with an oversubscription due to investor interest. A total of 9,868,850 Units were issued pursuant to the Offering. Each Unit consists of one common share in the capital of the Company (each a “Common Share”) and one Common Share purchase warrant (each a “Warrant”). Each Warrant issued in the final tranche of the Offering entitles the holder to purchase one Common Share at an exercise price of $0.15 until October 30^th, 2027.

Terra intends to use the net proceeds of the Offering for working capital and to fund exploration across its portfolio of properties in Saskatchewan and the Balkans.

Aleksandar Mišković, President and CEO of the Company (the “Insider”), purchased 131,250 Units as part of the Offering. The issuance of the Units to the Insider constitutes a “related party transaction” as this term is defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). There has not been a material change in the percentage of the outstanding securities of the Company that are owned by the Insider as a result of his participation in the Offering. The Company is relying on the exemption from the valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, as the securities do not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The participation by the Insider in the Offering was approved by directors of the Company who are independent in connection with this transaction. No materially contrary view or abstention was expressed or made by any director of the Company in relation thereto.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the fourth and final tranche of the Offering are subject to a four (4) month hold period ending March 1^st, 2025. The Offering is subject to the approval of the Canadian Securities Exchange.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the use of proceeds for the Offering. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Offering; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

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Terra Balcanica Extends Private Placement Financing

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Terra Balcanica Highlights Silver and Antimony Potential of the Bosnian Viogor-Zanik Project

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2024 / Oct

Terra Balcanica Extends Private Placement Financing

Vancouver, British Columbia – October 4^th 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) announces an extension to the closing of the fourth and final tranche of the previously announced non-brokered private placement financing (the “Offering”) of up to 14,500,000 units (each, a “Unit”) at a price of $0.10 per Unit for aggregate gross proceeds of up to $1,450,000. The Company has raised aggregate gross proceeds of $948,760 to date in the Offering. An extension to the Offering has been granted by the Canadian Securities Exchange until November 1st, 2024, however Terra will seek to finalize the Offering as early as possible.

Each Unit will consist of one common share in the capital of the Company (each a “Common Share”) and one Common Share purchase warrant (each a “Warrant”). Each Warrant issued will entitle holder to purchase one Common Share at an exercise price of $0.15 for a period of 36 months from the date of issuance of the Warrant. See the Company’s press release dated September 13th, 2024, for further details on the Offering.

Terra intends to use the net proceeds of the Offering for working capital and to fund the field campaign across its portfolio of properties in Saskatchewan and the Balkans.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com/en/news.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of any of the words “will”, “intends” and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the closing of the Offering and the use of proceeds for the Offering. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Offering; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.

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Terra Balcanica Closes Third Tranche of Private Placement Financing

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Terra Balcanica Closes Oversubscribed Private Placement Financing

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2024 / Sep

Terra Balcanica Closes Third Tranche of Private Placement Financing

Vancouver, British Columbia – September 13^th 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the 3^rd tranche of the previously announced non-brokered private placement financing (the “Offering”) of units (the ”Units”) for gross proceeds of $176,010 Canadian, resulting in aggregate gross proceeds of $948,760 raised in the Offering to date. The Company previously closed the 2^nd tranche of the Offering for gross proceeds of $567,000 as described in the Company’s press release dated July 19th, 2024.

The Company issued an aggregate of 1,760,100 Units at a price of $0.10 per Unit pursuant to the third tranche of the Offering announced on May 17^th, 2024 with an oversubscription due to investor interest. Terra announced an increase in the amount of the Offering on July 17^th , 2024 to raise aggregate gross proceeds of up to $1,450,000. Each Unit consists of one common share in the capital of the Company (each a “Common Share”) and one Common Share purchase warrant (each a “Warrant”). Each Warrant issued in the third tranche of the Offering entitles the holder to purchase one Common Share at an exercise price of $0.15 until September 13^th , 2027. Finders’ fees in the amount of $1,750 were paid.

Terra intends to use the net proceeds of the Offering for working capital and to fund the field campaign across its portfolio of properties in Saskatchewan and the Balkans.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the third tranche of the Offering are subject to a four (4) month hold period ending January 14^th, 2025. The Offering is subject to the approval of the Canadian Securities Exchange.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and norther Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Closes Option Agreement for Saskatchewan Uranium Assets

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Terra Balcanica Extends Private Placement Financing

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2024 / Jul

Terra Balcanica Closes Option Agreement for Saskatchewan Uranium Assets

Vancouver, British Columbia – July 24^th 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1), a multi-jurisdictional, polymetallic exploration company focused on supporting the global transition to clean energy, is pleased to announce that further to its press release dated July 3^rd, 2024, it has closed its option agreement dated July 2^nd, 2024 (“Agreement”) between the Company, Fulcrum Metals Plc. (“Fulcrum”, AIM:FMET) and Fulcrum Metals (Canada) Ltd. (“Fulcrum Canada”), a wholly-owned subsidiary of Fulcrum, pursuant to which the Company has obtained a four-year option (the “Option”) to acquire a 100% interest in Fulcrum’s uranium portfolio of exploration licences located in northern Saskatchewan, Canada and collectively encompassing 596.71 km² of highly prospective terrain for a tier one uranium discovery. See the Company’s press release dated July 3^rd, 2024 for further details regarding the Agreement.

On closing of the Agreement, the Company issued 1,997,151 common shares of the Company to Fulcrum Canada, at a deemed issue price of $0.125 per share, and issued 1,198,291 common shares of the Company to Global Energy Metals Corporation as a finder’s fee, at a deemed issue price of $0.125 per share. The common shares of the Company issued in connection with the Option are subject to a hold period of four months from the date of issuance in accordance with applicable securities laws in Canada.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and norther Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Closes Second Tranche of Private Placement Financing

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Terra Balcanica Closes Third Tranche of Private Placement Financing

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2024 / Jul

Terra Balcanica Closes Second Tranche of Private Placement Financing

Vancouver, British Columbia – July 19^th 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the 2^nd tranche of the previously announced non-brokered private placement financing (the “Offering”) of units (the ”Units”) for gross proceeds of $567,000 Canadian, resulting in aggregate gross proceeds of $772,750 raised in the Offering to date. The Company previously closed an initial tranche of the Offering for gross proceeds of $205,750 as described in the Company’s press release dated June 17^th, 2024.

The Company issued an aggregate of 5,670,000 Units at a price of $0.10 per Unit pursuant to the second tranche of the Offering announced on May 17th, 2024 with an oversubscription due to investor interest. Terra announced an increase in the amount of the Offering on July 17^th, 2024 to raise aggregate gross proceeds of up to $1,450,000. Each Unit consists of one common share in the capital of the Company (each a “Common Share”) and one Common Share purchase warrant (each a “Warrant”). Each Warrant issued in the second tranche of the Offering entitles the holder to purchase one Common Share at an exercise price of $0.15 until July 19^th, 2027. Finders’ fees in the amount of $11,200 were paid.

The Company intends to use the net proceeds of the Offering for working capital and to fund the Phase III drilling campaign across its portfolio of properties.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the second tranche of the Offering are subject to a four (4) month hold period ending November 20^th, 2024. The Offering is subject to the approval of the Canadian Securities Exchange.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and norther Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Announces Increase to Private Placement

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Terra Balcanica Closes Option Agreement for Saskatchewan Uranium Assets

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2024 / Jul

Terra Balcanica Announces Increase to Private Placement

Vancouver, British Columbia – July 18^th 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce that due to investor interest it is increasing the amount of its previously announced non-brokered private placement financing on May 17th, 2024 (the “Offering”) of units (the “Units”) to raise aggregate gross proceeds of up to $1,450,000. The Company previously closed an initial tranche of the Offering for gross proceeds of $205,750, as described in the Company’s press release dated June 17th, 2024. The Company intends to complete two additional tranches of the Offering.

The Company intends to issue an aggregate of up to 14,500,000 Units at a price of $0.10 per Unit pursuant to the Offering. Each Unit will consist of one common share in the capital of the Company (each a “Common Share”) and one Common Share purchase warrant (each a “Warrant”). Each Warrant issued will entitle holder to purchase one Common Share at an exercise price of $0.15 for a period of 36 months from the date of issuance of the Warrant.

The Company intends to use the net proceeds of the Offering for working capital and to fund the Phase III drilling campaign across its portfolio of properties.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the Offering are subject to a four (4) month hold period from the applicable closing date. The Offering is subject to the approval of the Canadian Securities Exchange.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and norther Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Signs Definitive Agreement to Acquire Saskatchewan Uranium Assets

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Terra Balcanica Closes Second Tranche of Private Placement Financing

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2024 / Jul

Terra Balcanica Signs Definitive Agreement to Acquire Saskatchewan Uranium Assets

Vancouver, British Columbia – July 3^rd 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) a multi-jurisdictional, polymetallic exploration company focused on supporting the global transition to clean energy, is pleased to announce the signing of the definitive option agreement dated July 2, 2024 (“Agreement”) between the Company, Fulcrum Metals Plc. (“Fulcrum”, AIM:FMET) and Fulcrum Metals (Canada) Ltd. (“Fulcrum Canada”), a wholly-owned subsidiary of Fulcrum, pursuant to which the Company will obtain a four-year option (the “Option”) to acquire a 100% interest in Fulcrum’s uranium portfolio of exploration licences (the “Licences”) located in northern Saskatchewan, Canada and collectively encompassing 596.71 km2 of highly prospective ground for a uranium discovery.

Pursuant to the Agreement, on closing (the “Option Closing Date”), Fulcrum and Fulcrum Canada will grant Terra the Option to acquire a 100% interest in the Licences, comprising Fulcrum’s Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton licence clusters located along northern and southeastern margins of the renowned Athabasca Basin, the supplier of ca. 20% of world’s uranium and home to significant uranium deposits.

In consideration for the Option, Terra has paid C$25,000 in cash to Fulcrum to date.

Additionally, Terra may exercise the Option by paying Fulcrum cash according to the schedule below:

C$50,000 on the first anniversary of the Option Closing Date;
C$75,000 on the second anniversary of the Option Closing Date;
C$75,000 on the third anniversary of the Option Closing Date;
C$75,000 on the fourth anniversary of the Option Closing Date; and

issue Fulcrum Canada common shares of Terra at the 10-day volume weighted average trading price of Terra’s shares ending three trading days prior to the date of issuance, subject to the minimum pricing requirements of the Canadian Securities Exchange (the “CSE”), as per the following schedule:

C$250,000 of Terra shares on the Option Closing Date;
C$350,000 of Terra shares on the anniversary of the Option Closing Date;
C$560,000 of Terra shares on the second anniversary of the Option Closing Date;
C$650,000 of Terra shares on the third anniversary of the Option Closing Date;
C$1,250,000 of Terra shares on the fourth anniversary of the Option Closing Date; and

Terra will also complete minimum work expenditures totalling C$3,250,000 prior to the fourth anniversary of the Option Agreement.

Upon the exercise of the Option, Terra will grant Fulcrum a 1.0% net smelter returns royalty (“NSR”) on all claims with a buy-down option for half of the NSR, being a 0.5% NSR, for the cash payment of C$1,000,000.

Global Energy Metals Corp. (“Global Energy”) acted as a finder for this transaction by introducing the parties and facilitating the negotiation of the Agreement. As compensation for Global Energy’s services, the Company, Fulcrum Canada and Global Energy entered into a finder’s agreement (the “Finder’s Fee Agreement”), in which Global Energy will be compensated with 1,198,291 shares of Terra on the Option Closing Date subject to the minimum pricing requirements of the CSE and, upon the exercise of the Option, the Company will grant Global Energy a 0.5% NSR on all of the Licences, subject to a buy-down option of the entire NSR for the cash payment C$500,000.

The Agreement replaces the Letter of Intent between the Company and Fulcrum signed on April 2^nd, 2024 (see news release of the Company dated April 3^rd, 2024).

The transaction contemplated under the Agreement and the Finder’s Fee Agreement are subject to the approval of the CSE.

The common shares of Terra issued under the terms of the Agreement and the Finder’s Fee Agreement will be subject to a hold period of four months from the date of issuance in accordance with applicable securities laws in Canada.

Highlights

596.71 km² of land tenure along northern and southeastern edges of the Athabasca Basin, a premium mining district and the leading global source of high-grade uranium with over 70 million lbs of U₃O₈ produced;
Surface uranium samples of up to 6.22 % U₃O₈ at Charlot-Neely and up to 1.44 % U₃O₈ at Fontaine-Lake licences with anomalous surface radiometric readings of >7,000 cps as well as rare earth element assays;
A historic (non-43-101 compliant) diamond drill hole intercept of 3.91 g/t Au over 45.8 m from surface at the Charlot-Neely licence;
The recent drill hole intercept of 1,309 cps over 8.7 m by Aero Energy and Fortune Bay on the Murmac project (see news release dated June 25^th, 2024) is located only 20 km SW of Terra’s Charlot-Neely Lake licence and marks the first Beaverlodge District uranium discovery in more than half a century;
Historical work has demonstrated multiple occurrences of uranium mineralization along NE-SW structural corridors such as Black Bay fault, Black Lake shear, and the Snowbird tectonic zone and the many associated fault splays and graphitic conductors.

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented:

The agreement signed with Fulcrum marks an exciting new chapter in Terra’s corporate history as a high-quality target generator and explorer of critically needed commodities. The Company is now exposed to a world-class uranium district that is experiencing a mining renaissance as evidenced by the recent discovery made just 20 km from of our flagship Charlot-Neely licence. With close to 600 km² of land tenure, we are supremely positioned to take early-mover advantage of opportunities along the entire northern and eastern margins of Athabasca Basin. The optioned portfolio comprises geologically promising ground that has not seen modern surveying nor recent drilling. We are excited to approach it by applying the same level of technical rigor as we did in the Balkans to define drill targets with a high probability of success. In addition to multiple uranium occurrences, the licences feature gold, copper, nickel and cobalt showings. We are fortunate to have inherited a wealth of legacy data from Fulcrum along with the expertise of Mr. Gary Dunn, a veteran of uranium exploration in Saskatchewan. It will be an eventful autumn of prospecting, sampling, and structural mapping together with airborne geophysics to rapidly define drill targets.

Portfolio Overview

The optioned terrain in norther Saskatchewan is divided into 4 licence clusters targeting the NE-SW structures and associated electromagnetic conductors along strike from historic mines and projects that have attracted significant investment as zones most likely to host basement- and intrusive hosted uranium mineralizations (Figure 1).

Figure 1. Saskatchewan’s Athabasca Basin with the optioned licence portfolio

Southeastern margins of the Athabasca Basin are known locations of world-class discoveries such as the Arrow deposit discovered by NexGen Energy Ltd. (4.3 Mt at 0.83% U₃O₈), and the Triple R deposit (2.7 Mt at 1.94% U₃O₈) being developed by Fission Uranium Corp. Such sizable accumulations of uranium ore have proved the concept of exploring along fluid bearing structures outside the Basin that have been genetically interpreted to form either the basement or the so-called “Beaverlodge” styles of mineralization (Figure 2).

Figure 2. Three styles of uranium mineralization in northern Saskatchewan on an idealized cross-section of the Athabasca Basin. Terra Balcanica’s portfolio focuses on the margins of the Basin where the basement-hosted and so-called “Beaverlodge-style” mineralizations are found as surface expressions of deep-seated feeder dykes and crustal faults.

Terra will focus on this exploration paradigm however, the Company will aim to target major NE-SE trending faults and associated secondary structural corridors along northern margins of the Basin where close to 32,000 tons of U₃O₈ have been produced in the Beaverlodge District alone.

Charlot – Neely Lake

The flagship Charlot-Nely Lake property (Figure 3) covers 163.72 km² and is located at the heart of the historic Beaverlodge District, 13 km NE of Uranium City. It is found within 10 km radius of the 14 historic mines and uranium ore producers. The licence covers more than 20 km strike length of the major Black Bay Fault with 16 km of previously identified, fault-parallel graphitic conductors. It also hosts significant REE potential given the adjacent Alces REE discovery by Appia with historical samples of over 31% U₃O₈ and over 16% REE.

Figure 3. Tenure map of the Beaverlodge District along northwestern margin of the Athabasca Basin with Terra’s flagship 168 km² Charlot-Neely Lake property north of centre and 20 km NE along a major structural feature (Black Bay fault) from the recent drill intercept by Aero Energy Ltd.-Fortune Bay Corp. at the Murmac project.

The licence benefits from work completed in 2023 which confirmed uranium mineralization on surface of up to 0.55 % U and assays of 0.8% U₃O₈ confirmed at Peacock showing in 2023, and extensive zones of up to 7,000 cps (counts per second) radioactivity. Historic occurrences are noted of up to 6.22 % U₃O₈. The first order controls for basement hosted mineralisation are present with large scale structural features, linear conductors that possibly contain graphitic horizons as important reductants and surface uranium anomalism. There is also note of gold drilling intercept of 3.91 g/t Au over 45.8 m from surface (DDH17) which adds additional exploration appeal to the licence (Figure 4).

The Company will focus on high-grade sources of the surficial uranium showings along most radioactive segments of the graphitic conductors as previously untested drill targets.

Figure 4. Charlot-Neely Lake licence cluster encompasses 168 km² and captures 20 km of the along-strike extent of the Black Bay Fault system with its splays and associated electromagnetic conductors. These graphitic seams serve as favourable redox traps for oxidizing uranium-bearing fluids channelled by deeps seated faults and shears. Multiple anomalously radioactive locations are scattered throughout the tenure.

Fontaine Lake and Snowbird

These licences stretch over 388 km² and straddle the Grease River Shear Zone, its sub-faults as well as the Snowbird Tectonic Zone (Figure 5). The Black Lake Shear Zone which also transects the Snowbird licence cluster can be traced for 200 km across the Athabasca Basin and is associated with Cameco’s Centennial project. Additionally, the Cora and Legs Lake Shear Zones contain multiple airborne radioactivity anomalies that were not followed up on trend. Haymac Mines has recently restarted mining at Nisto Mine which is known for having shipped 500 tons of high-grade ore to Uranium City in the 1950s with one shipment being 106 tons grading 1.6% U₃O₈. A minimal field program was completed at Fontaine Lake in 2008 with surficial showings of 1% uranium while further work was recommended by CanAlaska Uranium that leaves plenty of discovery potential.

South Pendleton

The South Pendleton property sits upon the Needle Falls Shear Zone and covers 44.76 km² of terrain along southeastern edge of the Athabasca Basin. It is proximal to Skyharbour Resources’ South Falcon project. It features the same basement lithologies as those hosting the prolific Key Lake and Rabbit Lake mines however, several surficial radioactive anomalies and occurrences of uranium mineralization have not been explored yet.

Figure 5. Fontaine Lake and Snowbird licence clusters jointly encompass 388 km² of terrain along northern and northeastern margins of the Athabasca Basin strategically covering both the Black Lake shear zone and the coupled Grease River and Snowbird Tectonic Zones with their NNE-SSW faults and splays.

Exploration Plan

The Company intends to review cumulative legacy data set by including company assessment reports, historic governmental maps and surveys, extracting findings from research papers, compiling locations of key showings and combining it all into an internally consistent GIS database. Subsequently, Terra will commission a combined, >3,000 line-kilometer, airborne geophysical survey comprising V-TEM Plus electromagnetic and radiometric measurements along a tight, 150-spaced flight grid over all four licence clusters. Data obtained from the geophysics will be combined with the existing GIS database to identify high-priority target zones to follow up by a month and a half of detailed field work including ground radiometrics and lithological sampling in autumn of 2024. Our goal is to immediately generate and rank a dozen drill targets along key structural corridors to be tested in early spring of 2025. Work with the local First Nations to obtain social license to operate and work collaboratively will begin in earnest this summer.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person (“QP”) for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate. The QP has not directly verified the data disclosed, including sampling, analytical, and test data underlying the information contained in the press release except to perform a desktop overview of the legacy date provide by Fulcrum.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For the complete information on this news release, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com.

Cautionary Statement

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Terra Balcanica Closes First Tranche of Private Placement Financing

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Terra Balcanica Announces Increase to Private Placement

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2024 / Jun

Terra Balcanica Closes First Tranche of Private Placement Financing

Vancouver, British Columbia – June 17^th 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the 1st tranche of the previously announced non-brokered private placement financing of units (the ”Units”) for gross proceed of $205,750 (the “Offering”).

The Company issued an aggregate of 2,057,500 Units at a price of $0.10 per Unit pursuant to the Offering announced on May 17th, 2024. Each Unit consists of one common share in the capital of the Company (each a “Common Share”) and one Common Share purchase warrant (each a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.15 until June 17, 2027.

The Company intends to use the net proceeds of the Offering for working capital and to fund the Phase III drilling campaign across its portfolio of properties.

Giulio Bonifacio, Non-Executive Chair and Kim Oishi, Director of the Company (together the “Insiders”) purchased 257,500 Units as part of the Offering. The issuance of the Units to the Insiders constitutes a “related party transaction” as this term is defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, as the securities do not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The participation by Insiders in the Offering was approved by directors of the Company who are independent in connection with such transactions.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the Offering are subject to a four (4) month hold period ending October 18, 2024.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and norther Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Announces Private Placement Financing

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Terra Balcanica Signs Definitive Agreement to Acquire Saskatchewan Uranium Assets

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2024 / May

Terra Balcanica Announces Private Placement Financing

Vancouver, British Columbia – May 17^th 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce the intent to complete a non-brokered private placement (the “Private Placement”) for gross proceeds of up to C$600,000 through the issuance of up to 6,000,000 units (each a “Unit”) at a purchase price of C$0.10 per Unit. Each Unit will be comprised of one common share in the capital of the Company (“Common Share”) and a Common Share purchase warrant (“Warrant”) to purchase an additional one common share of the Company (“Warrant Share”) at an exercise price of C$0.15 per Warrant Share for a period of 36 months from the closing date of the Private Placement (the “Closing Date”).

The Units will be offered by way of prospectus exemptions in Canada, in the United States pursuant to available exemptions from the registration requirements and in certain jurisdictions outside of Canada and the United States, as determined by the Company. The Common Shares, Warrants and Warrant Shares, if issued within four months of the Closing Date, will be subject to a hold period of four months plus one day from the Closing Date in accordance with applicable Canadian securities laws. The Closing Date is expected to occur on or before June 14^th, 2024, subject to regulatory approvals, including the approval of the Canadian Securities Exchange and certain other customary conditions including, but not limited to, execution of subscription agreements between the Company and the subscribers. In certain circumstances, the Company may pay finder’s fees in cash and warrants on a portion of the Private Placement. The Company intends to use the proceeds of the Private Placement for land holding costs, project payments, to continue drilling the Company’s portfolio of mineral exploration properties in the western Balkans and for general corporate and working capital purposes.

This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and norther Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Announces Share Consolidation Effective Date

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Terra Balcanica Closes First Tranche of Private Placement Financing

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2024 / May

Terra Balcanica Announces Share Consolidation Effective Date

Vancouver, British Columbia – May 15^th 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) announces that, further to the Company’s press release on May 8^th, 2024, the consolidation of the outstanding common shares of the Company (each, a “Common Share”) on the basis of one post-Consolidation Common Share for every three pre-Consolidation Common Shares is anticipated to be made effective for trading purposes on Friday, May 17^th, 2024 (the “Effective Date”). It is anticipated that the Common Shares will begin trading on the CSE on a post-Consolidation basis at market open on the Effective Date. The new CUSIP of the Common Shares will be 88089G202 and the new ISIN will be CA88089G2027.

Shareholders with physical certificates will receive a letter of transmittal from Computershare Trust Company of Canada, the Company’s transfer agent. All registered shareholders will be required to send their certificate(s) representing pre-Consolidation shares, along with a properly executed letter of transmittal, to the Company’s transfer agent, in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their shares through a broker, investment dealer, bank or trust company should contact that nominee or intermediary on the procedures for processing the Consolidation of their shares, and for determining their post-Consolidation positions. Further details regarding the Consolidation are provided in the press release of the Company dated May 8^th, 2024.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and norther Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Announces Proposed Share Consolidation and Engages Market Maker

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Terra Balcanica Announces Private Placement Financing

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2024 / May

Terra Balcanica Announces Proposed Share Consolidation and Engages Market Maker

Vancouver, British Columbia – May 8^th 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) announces that its Board of Directors has approved a consolidation (the “Consolidation”) of the common shares of the Company (“Common Shares”) on a three-to-one basis. The Company currently has 100,574,553 Common Shares outstanding and, if completed, the proposed Consolidation would reduce the issued and outstanding Common Shares total to 33,524,851 Common Shares. The Company will announce the effective date of the Consolidation, as well as the new CUSIP/ISIN numbers for the post-Consolidation shares by way of a future news release. The post-Consolidation shares will continue to trade on the Canadian Securities Exchange (“CSE”) under the Company’s existing name and trading symbol. The Consolidation is subject to the approval of the CSE. Shareholder approval of the Consolidation was received by special resolution at the Company’s Special Meeting of Shareholders held on May 6^th, 2024. See the management information circular of the Company dated April 5^th, 2024 on the Company’s SEDAR+ profile for further information regarding the Consolidation.

Shareholders with physical share certificates will receive a letter of transmittal from Computershare Investor Services Inc., the Company’s transfer agent. All registered shareholders will be required to send their certificates representing pre-Consolidation shares, along with a properly executed letter of transmittal, to the Company’s transfer agent, in accordance with the instructions provided in the letter of transmittal. Shareholders who hold their shares through a broker, investment dealer, bank or trust company should contact that nominee or intermediary on the procedures for processing the Consolidation of their shares, and for determining their post-Consolidation positions.

Terra Balcanica Engages a Market Maker

The Company is pleased to announce it has engaged the services of Independent Trading Group (“ITG“) to provide market-making services in accordance with policies of the CSE. ITG will trade shares of the Company on the CSE with the objective of maintaining a reasonable market and improving the liquidity of the Company’s common shares.

Under the agreement, ITG will receive compensation of CAD $6,000 per month, payable monthly in advance for market making services, primarily to be conducted by ITG’s market maker, David Paterson Sears. The agreement is for an initial term, which is a minimum of one month, and is renewable for additional one-month terms unless terminated. The agreement may be terminated by either party by providing written notice to termination of at least 30 days’ notice prior to the end of the then current term. There are no performance factors contained in the agreement and ITG will not receive shares or options as compensation. ITG and the Company are unrelated and unaffiliated entities and at the time of the agreement, neither ITG nor its principals have an interest, directly or indirectly, in the securities of the Company.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the worldrenowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Provides Exploration Activities Update on High Grade Silver and Gold Targets at Viogor-Zanik Project in Bosnia

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Terra Balcanica Announces Share Consolidation Effective Date

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2024 / Apr

Terra Balcanica Provides Exploration Activities Update on High Grade Silver and Gold Targets at Viogor-Zanik Project in Bosnia

Vancouver, British Columbia – April 11^th 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to provide an update from the Phase I and II exploration drilling within its principal 168 km² Viogor-Zanik project in Bosnia-Herzegovina.

The Company completed approximately 2,200 m of drilling along a shallow, high grade, silver-dominated, intermediate sulfidation polymetallic Ag-Au-Pb-Zn-Sb vein system at the locality known as Chumavichi (Figures 1 and 2). This semi-continuous, 7.2 km-long structural corridor associated with a low magnetic response was previously largely untested by drilling and hosts altered volcanic tuffs and breccias with occurrences of massive Pb, Zn and Fe sulphides.

At the Company’s second Viogor-Zanik target of Brezani (Figures 1 and 3), Terra discovered a surficial auriferous skarn superimposed on an Ag-Pb-Zn-Au mineralized, NE-shallowing structural system itself overlying porphyry andesites stock from 550 m of depth. The target is characterized by overlapping 1.2 km wide magnetic and EM anomalies with over 700 meters wide Au-Bi-Zn anomaly at surface and banded skarn outcrops with sphalerite and chalcopyrite. Similar geophysical signatures are detected at the 4.1 Moz Au Eq. Rogozna Au-Cu skarn project in SW Serbia (https://ibaera.com/rogozna-shanac-resources-increase-to-4-6-moz-au-eq/). The Company completed approximately 1,200 m of diamond drilling at Brezani with additional assays to be released shortly.

Highlights

Maiden Chumavichi Ridge drillhole CMVDD001 intercepted 824.2 g/t AgEq. over 4.0 m from 29 m of depth, including 1,634.4 g/t AgEq. over 2.0 meters;
Chumavichi Ridge drill hole CMVDD002 intercepted 816.1 g/t AgEq. over 2.0 m;
CMVDD003, an 83-meter step-out from CMVDD001, intercepted a vein interval of 465.5 g/t AgEq. over 8.7 meters, including 1196.6 g/t AgEq. over 2.0 meters, and is open at depth;
The step out drillhole CMVDD005 returned 284 g/t AgEq over 10.0 m including 895.8 g/t AgEq over 2.0 m (see Figure 3) approximately 50 m west-northwest of CMVDD002;
The Chumavichi Ridge drillhole CMVDD004 along the same drill fence 40 m northeast of CMVDD005 returned 505.3 g/t AgEq over 11.0 m from 43.0 m depth including 3075.4 g/t AgEq (108.5 oz/t AgEq) over 1.7 m;
Shallow, polymetallic mineralization was also intersected 600 m NW of the discovery hole at the Cumavici Ridge where two drill holes through a new parallel structure returned 531 g/t AgEq over 0.75 m (CMV23007), and 355 g/t AgEq over 1.10 m (CMV23009);
The Phase II drillhole CMV23004 intersected 1,168 g/t AgEq over 1.35 m from 36.2 m downhole to add 42 m strike length SE of CMVDD002 with mineralization remaining open and untested down-dip (Figure 2);
Drillhole CMV23003 intersected 457 g/t AgEq over 4.15 m from 43.85 m downhole and points to a wider down-dip continuation of the high-grade mineralization from the previously reported CMV23004 (Figure 2);
Drill testing of the 650 m-wide, conductivity high at the centre a 1.2 km wide anomalously magnetic rock volume at Brezani intercepted 0.61 g/t AuEq over 88.0 m (BREDD002) and 0.58 g/t AuEq over 28.6 m(BREDD001). Continuation of this drillhole along same azimuth and dip to depth of 674 m has intercepted a substantial width of low to intermediate sulphidation epithermal mineralization and potassically altered, porphyritic andesites overprinted by chlorite from 550 m depth (Figure 3).

Figure 1. Geological map of the Viogor-Zanik project illustrating the drilled targets during the Phase II campaign. Cumavici is observed in the NW of the license package with the Brezani discovery 12 km to the SE. The operating Sase mine producing 350ktpa of Pb-Zn-Ag-Sb-Au concentrate is located 7 km east of Chumavichi (WGS84/UTM Zone 34N).

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments:

After a year of systematic targeting followed by approximately 3,400 m of diamond drilling over the last two years, we are proud to lay claims to two precious metal rich, polymetallic discoveries at an emerging European mining jurisdiction. Our systematic high grade silver intercepts from two of the five defined Chumavichi corridor targets are indications of its outstanding potential considering it is located only 7 km west of Mineco’s silver mine at Sase. Our recent discovery of similar polymetallic mineralization at Brezani adds further value to this multi-domain target. There, a significant mineralized intercept underlies the previously confirmed auriferous skarn starting from surface and overlies a porphyry system which Terra has been targeting at Viogor-Zanik from the very outset. We believe the potential of our discovery at Brezani is tremendous considering the shallowing of the epithermal mineralization along a presumed fault to northeast and stratigraphic intercept below the boiling horizon which will be targeted by our future drill programs. Collectively, this is a thrilling development for Terra as we aim to release assay results from additional five drill holes at Brezani and prepare for a continued definition of this massive magmatic-hydrothermal system in eastern Bosnia.

Figure 2. Fence diagram of Phase I and II drilling completed at the Cumavici Ridge target. Polymetallic mineralization intervals are highlighted in red. The mineralization remains untested and open down dip to the southwest and entirely open to the NW. The high-grade mineralization footprint currently sits at approximately 92 m (strike length) by 150 m in down dip direction.

Upcoming Results

Laboratory assays results from section of drill hole BREDD002 below 215 m depth (Figure 3) are pending QA/QC verification and will be released imminently. Additionally, four more diamond drill holes (BRE23001-004) between depths of 120 and 160 m that tested the surface gold bearing calc-silicatesand magmatic breccias will be released in comings months.

Figure 3. Section through the Brezani target illustrating conductivity and the 95th percentile magnetic shell. Drillhole BREDD002 is shown, with a tabular conductivity feature extending to the ENE from the epithermal mineralized interval. Conductivity feature is interpreted as the continuation of the host structure with increased conductivity due to sulphide and clay within the broken rock mass. It passes through a break in the magnetics, which is further evidence of structural control.

QAQC

Half core (PQ3 and HQ3) samples were delivered by truck to ALS Bor, Serbia for sample preparation and analysis at the ALS laboratory Loughrea, Ireland an ISO/IEC 17025:2017 certified testing laboratory. Sample preparation PREP-31BY method was used on all core samples. This involves crushing to 70% less than 2 mm, rotary split 1kg and pulverizing the split to greater than 85% passing 75 microns. Gold was assayed by 30g fire assay with ICP-AES finish (Au-ICP21). Analyses of silver and base metals were completed by highly oxidising digestion with HNO3, KClO3 and HBr (ASY-ORE) and the final solution in dilute aqua regia is determined by ICP-AES (ME-ICPORE). Control samples, comprising certified reference materials (CDN-ME-1811), quarter core field duplicates and blanks were inserted at a rate of 9% and investigated as part of the company’s quality assurance and quality control program.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the worldrenowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Executes Letter of Intent for Option Agreement to Acquire 100% Interest in Advanced Saskatchewan Uranium Portfolio

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Terra Balcanica Announces Proposed Share Consolidation and Engages Market Maker

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2024 / Apr

Terra Balcanica Executes Letter of Intent for Option Agreement to Acquire 100% Interest in Advanced Saskatchewan Uranium Portfolio

Vancouver, British Columbia – April 3^rd 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1), a multi-jurisdictional exploration company focused on supporting the global transition to clean energy, is pleased to announce that it has entered into a non-binding Letter of Intent (the “Agreement”) with a wholly owned subsidiary of Fulcrum Metals Plc., (“Fulcrum”, AIM:FMET). Pursuant to the Agreement, Terra will have an option (the “Option Agreement”) to acquire a 100% interest in Fulcrum’s Charlot-Neely, Fontaine Lake, Snowbird and South Pendleton uranium licences (the “Licences”) located in northern Saskatchewan, Canada and collectively encompassing 596.71 km² of highly prospective ground for a uranium discovery.

Highlights

Proximal to northern and southeastern edges of the Athabasca Basin (“Basin”) in northern Saskatchewan, a premium mining district and leading global source of high-grade uranium;
Charlot-Neely is located within the emerging Uranium City district on the northwestern margin of the Basin;
Historical work at the projects has demonstrated evidence of uranium mineralization along favourable structural trends with prospective target horizons based on electromagnetic conductors;
Future exploration requires the undertaking of a modern systematic geologic fieldwork to determine the uranium potential.

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented:

In our pursuit of high-quality assets worldwide, Terra Balcanica has secured an option to acquire a Canadian uranium portfolio covering close to 600 km2 with tremendous potential for discovery. In a world transitioning to green energy solutions, the acquisition of these assets provides a more robust and diverse exploration portfolio for Terra. Although there has been an increase in activity in the uranium sector, we are at the early stages of a commodity super-cycle and being able to acquire such a large, advanced uranium portfolio on favourable terms was a clear opportunity for our shareholders. It is the right time, jurisdiction, and commodity to augment our advanced Balkan portfolio and to further participate in the changing energy landscape. We look forward to working with Fulcrum to apply their technical and jurisdictional expertise to advance these Saskatchewan uranium projects, and we are excited by the addition of a strategic commodity to Terra’s existing polymetallic portfolio.

Portfolio Overview and Discovery Opportunity

The licence portfolio totals 596.71 km² targeting major NE-SW trending structures along strike from historic uranium mines and projects that have attracted significant investment. Discoveries such as the Arrow (4.3Mt at 0.83% U₃O₈; https://www.nexgenenergy.ca/exploration/overview) and Triple R (2.7Mt at 1.94% U₃O₈ https://fissionuranium.com/projects/triple-r-deposit/project-overview/) have proved the concept of exploring along structures outside of the Athabasca basin.

Figure 1. Regional map of northern Saskatchewan, Canada which is one of the world’s leading sources of high-grade uranium and supplies about 20% of the world’s uranium. The blue symbols illustrate locations of the four optioned exploration properties totalling 596 km2 in the context of the world-famous Athabasca Basin, a Paleoproterozoic siliciclastic depo-centre.

Key Terms of Agreement

On closing of the transaction, Terra will have a four-year option to acquire 100% of Fulcrum’s owned uranium licences.
In consideration for the four-year option and at the time a definitive agreement is announced by way of news release and subject to a CSE approval, Terra shall pay Fulcrum C$7,500 for exclusivity on execution of signing of the Letter and pay Fulcrum C$25,000 less the C$7,500 exclusivity payment on execution of closing of the Option Agreement.

Additionally, Terra shall pay Fulcrum cash according to the schedule below:

C$50,000 on the first anniversary of closing of the Option Agreement;
C$75,000 on the second anniversary of closing of the Option Agreement;
C$75,000 on the third anniversary of closing of the Option Agreement;
C$75,000 on the fourth anniversary of closing of the Option Agreement;

and issue Fulcrum shares of TERA at the 10-Day Volume Weighted Average Price (“VWAP”) prior to the date of issuance as per the following schedule:

C$250,000 on closing of the Option Agreement with the initial share payments capped at C$0.065/share, pre-consolidation;
C$350,000 on the first anniversary of closing of the Option Agreement;
C$500,000 on the second anniversary of closing of the Option Agreement;
C$650,000 on the third anniversary of closing of the Option Agreement;
C$1,250,000 on the fourth anniversary of closing of the Option Agreement;

Terra will also complete minimum work expenditures totalling $3,250,000 prior to the fourth anniversary of the Option Agreement and grant Fulcrum a 1.0% Net Smelter Return (“NSR”) on all claims with buydown option of 0.5% NSR for C$1,000,000.

As part of the Option Agreement and for terminating the existing prior agreement (the “Prior Agreement”) between Fulcrum and Global Energy Metals Corp. (“Global Energy”), Global Energy will be compensated with C$150,000 in shares in TERA on closing of the Option Agreement and a 0.5% NSR on all claims.

The transaction contemplated above is an “Arms’ Length” in accordance with applicable securities legislation. The CSE has not passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

Restructuring Board of Directors

Mr. Steven Latimer, ICD.D, CFA, MBA, has stepped down as a director of the Company to focus on his other business interests but he will continue to act as a Strategic Advisor to the Company. Giulio T. Bonifacio, Terra’s Non-Executive Chairman of the Board commented: “We are very thankful for Steve’s involvement to date while looking forward to his future role and contributions as key strategic advisor and shareholder of the Company.”

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and norther Saskatchewan, Canada. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the worldrenowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Intercepts 551 g/t AgEq Over 4.8 m at Cumavici Ridge in Bosnia and Herzegovina

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Terra Balcanica Provides Exploration Activities Update on High Grade Silver and Gold Targets at Viogor-Zanik Project in Bosnia

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2024 / Jan

Terra Balcanica Intercepts 551 g/t AgEq Over 4.8 m at Cumavici Ridge in Bosnia and Herzegovina

Vancouver, British Columbia – January 30^th 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce the final geochemical assay results from the Phase II drill campaign at Cumavici Ridge confirming continuation of the high-grade epithermal vein mineralization at the Viogor-Zanik project in Bosnia and Herzegovina.

Highlights

Drillhole CMV23001 intersected 551 g/t AgEq over 4.8 m from 11 m downhole with a further mineralized interval of 669 g/t AgEq over 0.3 m from 31.60 m (Table 1);
Drillhole CMV23001 is located on the same platform as previously CMV23002b which returned 499 g/t AgEq over 3.8 m from 22 m reported (see Company news release 17 January 2024);
The Cumavici Ridge mineralization remains open and untested immediately northwest and down-dip to the southwest, which will be targeted by our 2024 Phase III drill program;
Further assay results from the 2023 Phase II drilling program are pending release, including 4 shallow drillholes at the Brezani Au skarn, which aim to add strike length to the previously reported 88.0 m at 0.61 g/t AuEq from surface (news release dated 24 January 2023).

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments:

Terra keeps on confirming average grades of over 500 g/t Ag Eq and average mineralization thicknesses of approximately 5-10 m of massive sulfides and associated Ag-Sb-Pb-Zn-Au mineralogy at Cumavici Ridge which is only one of six target zones along the 7.2 km corridor of vein-hosted epithermal mineralization. This zone is de-risked by drilling shallow, high grade silver mineralization at both the Cumavici Ridge and Joseva targets over 2.3 km apart. We are very excited to carry on adding to the existing mineralized horizon at Cumavici Ridge by testing it down dip to SW as well as along strike to NW while expanding drill campaign to Cumurnica and two other targets along the corridor in 2024.

Hole ID	From (m)	To (m)	Length (m)	Ag (g/t)	Au (g/t)	Pb (%)	Sb (%)	Zn (%)	AgEq (g/t)
CMV23001	11.00	15.80	4.8	132	1.61	0.57	1.56	1.51	551
CMV23001	31.60	31.90	0.3	106	0.47	0.28	3.22	1.00	669

Table 1. Assay results from drillhole CMV23001 of the Phase II drilling campaign. Interval lengths reported are drilled lengths, not true widths. Silver equivalent (“AgEq”) is based on assumed metal prices of US$1,980/oz for gold (Au), US$23/oz for silver (Ag), US$1.15/lb for zinc (Zn), US$5.42/lb for antimony (Sb) and US$1.00/lb for lead (Pb). Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests on analogous intermediate sulphidation epithermal vein deposits.

Figure 1. Geological map illustrating the drillholes at the Cumavici Ridge locality. AgEq values are labelled for selected 2022 and 2023 drill intercepts (See Company’s new releases dated 13 November 2023, 27 February 2023, 17 January 2024). Current drilling efforts confirm mineralization over 82 m NW/SE strike length. (WGS84/UTM Zone 34N);

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
CMV23001	360223.3	4888497.2	594.63	-85	050	61.7	98.8

Table 2. Collar locations for reported Phase II drillhole. Coordinates and elevation were taken by local consultant surveyors using a differential GPS unit. (WGS84/UTM Zone 34N).

Future Exploration Program

Further drilling efforts at Cumavici Ridge will aim to connect the shallow high-grade interval reported in this release to the 531 g/t AgEq over 0.75 m and 355 g/t AgEq over 1.10 m reported over 600 m to the northwest (see Company news release dated 5th November 2023). The shallow, vein hosted system remains untested and open to the southwest down-dip which will also be targeted during the 2024 Phase III drilling.

Figure 2. Drillhole section through step out drill fence located 42 m SE of the 2022 discovery holes at Cumavici Ridge. Assay intervals reported for CMV23001.

Hole ID	Easting	Northing	Dip	Azimuth	Depth (m)	Comments
CMV23005	360232	4888411	-85	050	58.2	Ended before target depth
CMV23006	359917	4888823	-60	050	82.2	No visible mineralization
CMV23008	359865	4888914	-60	050	65.8	No visible mineralization
CMV23010	359770	4888949	-50	050	91.5	No visible mineralization
CMV23011	360225	4888446	-85	050	50.2	No visible mineralization
CMV23012	360245	4888471	-85	050	67.6	No visible mineralization

Table 3. Collar locations and comments for the remaining Cumavici Ridge phase II drillholes. Coordinates and elevation were taken using a differential GPS unit. (WGS84/UTM Zone 34N);

QAQC

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in southern Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Drills 499 g/T AgGEq Over 3.8 m at Cumavici Ridge in Bosnia and Herzegovina and Closes Private Placement Financing

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Terra Balcanica Executes Letter of Intent for Option Agreement to Acquire 100% Interest in Advanced Saskatchewan Uranium Portfolio

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2024 / Jan

Terra Balcanica Drills 499 g/T AgGEq Over 3.8 m at Cumavici Ridge in Bosnia and Herzegovina and Closes Private Placement Financing

Vancouver, British Columbia – January 17^th 2024 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce additional assay results from the 2023 Phase II drill campaign confirming continuation of the high-grade Cumavici Ridge polymetallic mineralization within its flagship Viogor-Zanik project in Bosnia and Herzegovina. The Company further announces closing of the final tranche of its non-brokered private placement financing (the “Offering”) of shares (the ”Shares”) for total gross proceeds of $212,200.

Highlights

Drillhole CMV23002b intersected 499 g/t AgEq over 3.8 m from 22 m downhole with a further mineralized interval of 227 g/t AgEq over 2.0 m from 31 m (Table 1);
Drillhole collar for CMV23002b is located 39 m northeast of previously reported CMV23003 and 004 and 38 m SE of 2022 drillhole CMVDD001 which returned:
- CMVDD001 – 824 g/t AgEq over 4 m (see company news release dated 8^th September, 2022);
- CMV23003 – 457 g/t AgEq over 4.15 m;
- CMV23004 – 1168 g/t AgEq over 1.35 m;
The mineralization remains open immediately northwest and down-dip to the southwest;

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments:

We are delighted to continue reporting impressive silver grades from the central Cumavici Ridge system. This polymetallic, near-surface target keeps on delivering and is open along strike and down-dip. Cumavici Ridge is only one of five target zones along the 7.2 km NW-SE trending fault-hosted system that remains to be drilled, thus offering upside to advance a deposit immediately adjacent to the existing Sase Pb-Zn-Ag mine with infrastructure including mining and processing facilities. We are excited to continue advancing Viogor-Zanik’s full potential as a unique critical raw minerals land package right at Europe’s doorsteps. Additional assay results will continue to be released very shortly.

Hole ID	From (m)	To (m)	Length (m)	Ag (g/t)	Au (g/t)	Pb (%)	Sb (%)	Zn (%)	AgEq (g/t)
CMV23002b	22.00	25.80	3.80	125	0.7	2.72	0.48	5.53	499
CMV23002b	31.00	33.00	2.00	166	0.57	0.11	0.12	0.21	227

Table 1. Assay results from drillhole CMV23002b of the Phase II drilling campaign. Interval lengths reported are drilled lengths, not true widths. Silver equivalents (“AgEq”) are based on assumed metal prices of US$1,980/oz for gold (Au), US$23/oz for silver (Ag), US$1.15/lb for zinc (Zn), US$5.42/lb for antimony (Sb) and US$1.00/lb for lead (Pb). Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests on analogous intermediate sulphidation epithermal vein deposits.

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
CMV23002b	360224.6	4888498.1	594.58	-50	050	56.2	99

Table 2. Collar locations for reported Phase II drillhole. Coordinates and elevation were taken by local consultant surveyors using a differential GPS unit. (WGS84/UTM Zone 34N).

Future Exploration Program

Further drilling efforts at Cumavici Ridge will aim to connect the shallow high-grade interval reported in this release to the 531 g/t AgEq over 0.75 m and 355 g/t AgEq over 1.10 m reported over 600 m to the northwest (see Company news release dated 5th November 2023). The system remains untested and open to the southwest down-dip which will also be targeted in 2024 drilling.

Figure 2. Drillhole section through step out drill fence located 42 m SE of the 2022 discovery holes at Cumavici Ridge. Assay interval reported for CMV23002b

QAQC

Final Tranche of Private Placement Financing Closed

The Company issued an additional aggregate of 1,200,000 Shares at a price of $0.04 per Share for gross proceeds of $48,000 pursuant to the Offering announced on December 1^st, 2023.
In total, the Company has issued 5,305,000 Shares at a price of $0.04 for gross proceeds of $212,200. Terra will use the net proceeds of the Offering for working capital and to finance the acquisition of a strategic mineral exploration licence in Bosnia and Herzegovina. Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the final tranche of the Private Placement will be subject to a four (4) month hold period ending May 17^th, 2024. There were no finders’ fees paid in any of the tranches of the Offering.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Closes First Tranche of Private Placement Financing

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Terra Balcanica Intercepts 551 g/t AgEq Over 4.8 m at Cumavici Ridge in Bosnia and Herzegovina

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2023 / Dec

Terra Balcanica Closes First Tranche of Private Placement Financing

Vancouver, British Columbia – December 15^th 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the 1st tranche of the non-brokered private placement financing (the “Offering”) of common shares (the “Shares”).

The Company issued an aggregate of 4,105,000 Shares at a price of $0.04 per Share for gross proceeds of $164,200 pursuant to the Offering announced on December 1^st, 2023. The Private Placement will be utilized for opportunities in the critical battery metal exploration space in the Western Balkans.

Giulio Bonifacio, Chair of the board of directors (the “Insider”) purchased 815,000 Shares as part of the Offering. The issuance of the Shares to the Insider constitutes a “related party transaction” as this term is defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, as the securities do not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The participation by the Insider in the Offering was approved by directors of the Company who are independent in connection with such transactions.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the Private Placement will be subject to a four (4) month hold period ending April 16^th, 2024.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Announces Private Placement Financing

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Terra Balcanica Drills 499 g/T AgGEq Over 3.8 m at Cumavici Ridge in Bosnia and Herzegovina and Closes Private Placement Financing

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2023 / Dec

Terra Balcanica Announces Private Placement Financing

Vancouver, British Columbia – December 1^st 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) announces the intent to complete a non-brokered, private placement (“Private Placement”) for gross proceeds of up to $150,000 through the issuance of up to 3,750,000 common shares (“Common Shares”) at a purchase price of $0.04 per share.

The Common Shares will be offered by way of prospectus exemptions in Canada and the Common Shares sold in the Private Placement will be subject to a hold period of four months plus one day. The Closing Date is expected to occur on or about December 11th, 2023, subject to regulatory approvals, including the approval by the CSE and certain other customary conditions including, but not limited to, execution of subscription agreements between the Company and the subscribers. The Private Placement will be utilized for opportunities in the critical battery metal exploration space in the Western Balkans.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Intersects 457 g/t AgEq Over 4.15 m at Central Cumavici Ridge Target in Bosnia and Herzegovina

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Terra Balcanica Closes First Tranche of Private Placement Financing

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2023 / Nov

Terra Balcanica Intersects 457 g/t AgEq Over 4.15 m at Central Cumavici Ridge Target in Bosnia and Herzegovina

Vancouver, British Columbia – November 13^th 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce further high-grade assay results from the Phase II drill campaign confirming a continuation of the Cumavici Ridge epithermal vein zone within its principal Viogor-Zanik project in Bosnia and Herzegovina.

Highlights

Drillhole CMV23003 intersected 457 g/t AgEq over 4.15 m from 43.85 m downhole (Table 1). The mineralized footprint at Cumavici Ridge has expanded significantly over the past 18 months (see Company news release dated 8^th and 20^th September as well as 22^nd October 2022, 11^th January, 2^nd February, and 27^th February 2023) where the Phase I drill results included:
- CMVDD001 – 824.2 g/t AgEq over 4 m
- CMVDD002 – 816.1 g/t AgEq over 2 m
- CMVDD003 – 465.5 g/t AgEq over 8.7 m
- CMVDD004 – 505.3 g/t AgEq over 11 m
- CMVDD005 – 284 g/t AgEq over 10 m
Mineralized vein intercept points to a wider down-dip continuation of the high-grade mineralization from the previously reported 1,168 g/t AgEq over 1.35 m (see company news release dated 7^th November 2023) in drillhole CMV23004, which is open and untested at depth to the SW (Figure 1);
Results from CMV23004 and CMV23003 have added ca. 45 m strike length SE to the previously reported CMVDD002 which returned 816.1 g/t AgEq over 2 m (see company news release dated 22^nd October 2022); The mineralized footprint at Cumavici Ridge now extends over 600 meters and remains open along strike and at depth (Figure 2);
Further 2023 assay intervals to follow from Cumavici Ridge including CMV23001 and 002b, both of which intercepted massive sulphide mineralization as shallow as 7.1 m downhole.

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented:

The latest drill intercept reaffirms both continuity and silver-dominated polymetallic grades continuously intercepted at the Cumavici Ridge target. Together with the 600 m northwesterly step out zone, the central Ridge area now forms a potentially continuous half a kilometer long mineralized footprint where hypothesized shallow, vein-hosted massive sulphides await drill confirmation. We have further assay results to release from the Cumavici target zone as well as pending assay results from the Brezani gold skarn-copper porphyry target which is the other Viogor-Zanik prospect that was drill tested during 2023. It will be exciting next few months for our Company as we position ourselves as the critical metals explorer of choice in the western Balkans.

Hole ID	From (m)	To (m)	Length (m)	Ag (g/t)	Au (g/t)	Pb (%)	Sb (%)	Zn (%)	AgEq (g/t)
CMV23003	43.85	48.00	4.15	53	0.64	2.99	0.73	4.12	457

Table 1. Assay results of key mineralized interval from 2023 Phase II Cumavici drillhole CMV23003. Interval lengths reported are drilled lengths, not true widths. Silver equivalent (“AgEq”) is based on assumed metal prices of US$1,980/oz for gold (Au), US$23/oz for silver (Ag), US$1.15/lb for zinc (Zn), US$5.42/lb for antimony (Sb) and US$1.00/lb for lead (Pb). *Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests from analogous IS epithermal vein deposits.

Figure 1. Drillhole section through step out drill fence located 42 m SE of the 2022 discovery holes at Cumavici Ridge. Assay interval reported for CMV23003 in bold with previously reported CMV23004 also highlighted. Results from CMV23001 and 002b are pending release

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
CMV23003	360205.1	4888464.4	593.77	-85	050	56.8	100

Table 2. Collar locations for reported Phase II drillhole. Coordinates and elevation were taken by local consultant surveyors using a differential GPS unit. (WGS84/UTM Zone 34N).

Figure 2. Geological map illustrating the 2022 discovery drillholes (CMVDD001-005), previously released 2023 drillholes and CMV23003 which is the topic of this release. CMV23003 and 004 were drilled from the same platform with angles of -85 and -50 respectively

Future Exploration Program

The Cumavici Ridge epithermal mineralisation can be observed on surface and has been intercepted as shallow as 7.1 m downhole in CMV23001 (observations released 18th April 2023 with assays pending release). The drill hole CMV23003 (Table 2) intersected the mineralisation at 43.85 m downhole and marks a significant down-dip extension, which remains open and untested further down-dip to the southwest (Figure 1). Future exploration at the target will step NW towards CMV23007 and 009 which both intersected mineralization over 600 m along strike.

Phase II Viogor-Zanik Drill Campaign Results

In addition to the silver dominated Cumavici vein, the Company has drill tested the 650 m wide conductivity high at the centre a 1.2 km wide anomalously magnetic volume of rock at Brezani (Figure 3). Here, potassic altered porphyritic andesites were overprinted by chlorite and sporadically intrude gold-bearing calc-silicate skarn that returned 88.0 m of 0.61 g/t AuEq from surface (see Company news release dated 24th of January 2023). The redrilled Phase I drill hole has been extended to depth of 674 m along the same dip and azimuth.

Figure 3. Geological map of the Viogor-Zanik project illustrating the drilled targets during the Phase II campaign. Cumavici is observed in the NW of the license package with the Brezani discovery 12 km to the SE, attesting to the underexplored and prospectivity of the Viogor-Zanik project

From 480 m downhole in BREDD002 and coincident with a tabular conductivity body, drilling intersected an intensely mineralized structure with a substantial increase in the volume of sulfide minerals and density of carbonate base metal veins. This structure, interpreted as a low angle thrust fault, appears to surface in the NE where gossanous material was previously mapped. This provides an apparently continuous structure for further drill-testing as it shallows. Additionally, four more drill holes between depths of 120 and 160 m tested the surface gold bearing calc-silicates with the laboratory assays for the entire Brezani program pending.

QAQC

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Drills 1168 g/t AgEq Over 1.35 m at Cumavici Ridge and Confirms New Mineralization Over 600 m Northwest

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Terra Balcanica Announces Private Placement Financing

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2023 / Nov

Terra Balcanica Drills 1168 g/t AgEq Over 1.35 m at Cumavici Ridge and Confirms New Mineralization Over 600 m Northwest

Vancouver, British Columbia – November 5^th 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce geochemical assay results from the Phase II drill campaign confirming continuation of the high-grade Cumavici Ridge epithermal vein within its principal Viogor-Zanik project in Bosnia and Herzegovina.

Highlights

Drillhole CMV23004 intersected 1,168 g/t AgEq over 1.35 m from 36.2 mdownhole (Table 1);
Successful results add 42 m strike length SE of previously reported CMVDD002 which returned 816.1 g/t AgEq over 2 m (see company news release dated 22nd October 2022) with mineralization remaining open and untested down-dip (Figures 1 and 2);
Over 600 m northwest of Cumavici Ridge drillholes CMV23007 and CMV23009 returned 531 g/t AgEq over 0.75 m and 355 g/t AgEq over 1.10 m respectively;
More assay intervals to follow from the 2023 drill program at Cumavici Ridge

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented:

It is very exciting to continue proving up high grade silver-dominated mineralization this close to surface. The CMV23004 drillhole now confirms over 100 m of continuous high-grade mineralization at the centre of the Cumavici Ridge target. Moreover, the newly detected mineralized structure over half a kilometer to northwest speaks to the lateral extent of this prospect and provides plenty of opportunity for infill drilling to delineate its full scale, width, and grade. Our subsurface 3D geological model has been proven and is continuously refined with each successive drill hole to provide optimal targets down dip and along strike. We will be thrilled to highlight the remaining drill results from Cumavici Ridge as soon as the internal QA/QC protocol is completed.

Hole ID	From (m)	To (m)	Length (m)	Ag (g/t)	Au (g/t)	Pb (%)	Sb (%)	Zn (%)	AgEq (g/t)
CMV23004	36.20	37.55	1.35	452	3.49	2.14	1.95	3.36	1168
CMV23007	39.05	39.80	0.75	31	0.17	0.15	2.95	0.72	531
CMV23009	39.40	40.50	1.10	88	0.26	0.19	1.17	2.03	355

Table 1. Assay results of key mineralized intervals from the preliminary 2023 Phase II Cumavici drillholes. Interval lengths reported are drilled lengths, not true widths. Silver equivalents (“AgEq”) are based on assumed metal prices of US$1,950/oz for gold (Au), US$22.60/oz for silver (Ag), US$1.10/lb for zinc (Zn), US$5.44/lb for antimony (Sb) and US$1.00/lb for lead (Pb). *Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests on analogous intermediate sulphidation epithermal vein deposits

Figure 1. Geological map illustrating the drillholes CMV23004, 007 and 009 highlighting the 42 m SE step out achieved by CMV23004 and the > 600 m NWextension to mineralization at the Cumavici Ridge locality

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
CMV23004	360206.6	4888465.3	593.5	-50	050	58.1	100
CMV23007	359868.2	4888465.3	637.3	-63	046	59.7	99.35
CMV23009	359828.2	4888939.2	637.3	-58	041	73.8	100

Table 2. Collar locations for reported Phase II drillholes. Coordinates and elevation were taken by local consultant surveyors using a differential GPS unit. (WGS84/UTM Zone 34N).

Ongoing Exploration Program

Exploration efforts at the Viogor-Zanik Project are ongoing with results pending from 5 2023 diamond drillholes at the Brezani skarn system where 2022 results reported 88 m at 0.61 g/t AuEq from surface last year (see company news release dated 24th January 2023). Drilling was focussed on stepping out within the 800 m strike length Au-bearing calc-silicate trend on surface.

Figure 2. Drillhole section through step out drill fence located 42 m SE of the 2022 discovery holes at Cumavici Ridge. Assay interval reported for CMV23004

QAQC

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Completes Phase II Drilling at Viogor-Zanik Project in Bosnia and Closes Private Placement Financing

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Terra Balcanica Intersects 457 g/t AgEq Over 4.15 m at Central Cumavici Ridge Target in Bosnia and Herzegovina

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2023 / Sep

Terra Balcanica Completes Phase II Drilling at Viogor-Zanik Project in Bosnia and Closes Private Placement Financing

Vancouver, British Columbia – September 25^th 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the final tranche of its non-brokered private placement financing (the “Offering”) of units (the ”Units”) for total gross proceeds of $1,212,778. The Company further announces that it has completed the 2,000 m, Phase II drill program at the flagship, 216 km² Viogor-Zanik project (the “Project”) in eastern Bosnia and Herzegovina.

Highlights

In total, 17 diamond drill holes were completed during the 2023 Phase II campaign totalling approximately 2,000 m with a significant number of them macroscopically exhibiting sulphide mineralization. Twelve drill holes were completed at the polymetallic silver-lead-zinc Cumavici target while 5 holes were drilled at the Au-Cu, skarn-porphyry Brezani target (see Figures 1 and 2). All drill holes are at the ALS laboratory in Serbia with assays expected by the beginning of October;
Terra has raised $1,212,778 pursuant to the Offering announced on April 4th, 2023.

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented:

The conclusion of exploration drilling perfectly coincided with the closing of the private placement financing. I am proud of the field efforts made by the entire team Terra Balcanica but equally thankful to all those who helped raise the funds needed to advance our key assets in Bosnia and Serbia. Having finalized an oversubscribed financing of over $1.2M in such a challenging macroeconomic environment is a positive signal and has allowed us to complete a robust, 17-hole 2,000-meter Phase II drill program and materially advance the flagship Viogor-Zanik project. The composite drill core samples are now awaiting laboratory completion and an internal QA/QC check before being released as a part of Terra’s steady news flow for months to come.

Drilling Brezani Target Completed

The 2023 diamond drilling at the Brezani target focussed on testing the coincident magnetic-conductivity anomaly at depth below the Au-skarn mineralisation observed on surface. Further shallow drillholes BRE23001-004 aimed to add scale to the initial 88 m at 0.61 g/t AuEq intercepted in drillhole BREDD002 (See Company’s news release dated 24^th January 2023), all within a > 800 m NW/SE trending Au in soil anomaly.

Drillhole BREDD002: Continued from a depth of 215 m to 674 m in 2023 commencing in the same chlorite-sericite altered diorite which returned 0.26 g/t Au (214 – 215 m) in 2022 drilling. At a depth of 482.1 m a 9.8 m continuous zone of banded vein and sulphide cemented breccias with characteristics of both low and intermediate sulphidation epithermal deposits was intersected. The margins of the vein host repeating bands of chalcedonic quartz-rhodochrosite-calcite and sulphides/sulphosalts stibnite-pyrite-arsenopyrite-sphalerite-galena-jamesonite. The centre of the structure is dominated by hydrothermal breccia with a sulphide-quartz-carbonate cement. Clasts are banded vein fragments and wall rock hornfels. In the vein footwall the lithology changed to 118.4 m of chlorite-sericite altered diorite porphyry intrusive. Sinuous quartz-pyrite-molybdenite veins, quartz-magnetite, anhydrite-carbonate, pyrite-chlorite, and pyrrhotite-carbonate veining is present alongside disseminated pyrite-pyrrhotite.

Drillhole BRE23001: Located 102 m SW of the initial discovery hole at Brezani, which returned 0.61 g/t AuEq over 88 m from surface BRE23001 intercepted a similar package of calc-silicate mineralisation with a strong chlorite retrograde overprint. Intervals of coarse garnet-pyroxene skarn were also intercepted in contact with dioritic intrusives.

Figure 1. Geological map illustrating the 2022 and 2023 drillholes at the silver-dominated, polymetallic Cumavici Ridge target 12 km northwest from the Brezani target

Drillhole BRE23002: Located 91 m west of BREDD002 intersected a new style of mineralization for the Brezani target. Commencing at 98 m depth a sulphide-calcite cemented contact breccia between altered diorite and silicic hornfels was encountered. The sulphide matrix was composed of pyrite-sphalerite-galena-pyrrhotite-chalcopyrite with individual sphalerite crystals up to 3 cm. The breccia was semi-continuous until 105.2m where it graded into patchy brecciation and intermediate sulphidation veining to 117.6 m. Detailed observations of BRE23001-004 will be completed and updates released in due course.

Figure 2. Geological map illustrating the 2022 and 2023 drillholes into the Brezani skarn-porphyry target. Note that the 2022 drillhole, BREDD002 was redrilled from 215 – 674 m during the 2023 drilling campaign.

Final Tranche of Private Placement Financing Closed

The Company issued an aggregate of 1,826,470 Units at a price of $0.085 per Unit for gross proceeds of $155,250 pursuant to the Offering announced on April 4^th, 2023. Each Unit consists of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.13 until September 22^nd, 2026. Finders’ fees in the amount of $3,570 were paid in the final tranche of the Offering.

In total, the Company has issued 14,267,967 units at a price of $0.085 for gross proceeds of $1,212,778. Terra used the net proceeds of the Offering for working capital and to finance the Phase II drilling of the two target zones in Bosnia and Herzegovina.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the fifth tranche of the Private Placement will be subject to a four (4) month hold period ending January 23^rd, 2024.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Intersects Mineralized Structure 640 m Along Strike From Cumavici Ridge Polymetallic Epithermal Vein in Bosnia

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Terra Balcanica Drills 1168 g/t AgEq Over 1.35 m at Cumavici Ridge and Confirms New Mineralization Over 600 m Northwest

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2023 / Sep

Terra Balcanica Intersects Mineralized Structure 640 m Along Strike From Cumavici Ridge Polymetallic Epithermal Vein in Bosnia

Vancouver, British Columbia – Septe,ber 5^th 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce discovery of a new mineralized structure over 600 m northwest from the recently reported CMV23001 at the Cumavici Ridge epithermal vein target within its principal Viogor-Zanik project in eastern Bosnia and Herzegovina.

Highlights

Shallow, polymetallic mineralization has been intersected over 600 m NW of the 2022 high grade, silver discovery at the Cumavici Ridge through drill testing of a new parallel structure (Figure 1);
All 5 drill holes hit the target structure, with drill holes CMV23007, CMV23009 and CMV23010 macroscopically displaying significant mineralization (Figure 2 and 3);
Step out structure is continuous for 193 m NW-SE and open along strike and down-dip;
Geochemical assay results from the Phase II Stage 1 drilling at the Cumavici polymetallic prospect are pending laboratory release and will be imminently reported.

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented:

The 2023 drill campaign started off on the right foot with a significant step out from the centre of the mineralized zone discovered at the Cumavici Ridge in 2022. The footprint of silver-dominated, polymetallic mineralization now extends over 700 m along the NW-SE corridor at this locality, only one of five separate targets along the 7.2 km long Cumavici corridor. The laboratory assays for this sector of the mineralized vein structure as well as the central part of the Ridge zone are expected back shortly while Terra plans to carry on with further drilling at the locality as a part of the Phase II Stage 2 campaign.

The Company commenced its Phase II, Stage 1 drilling program at Cumavici Ridge, the 2022 high-grade polymetallic discovery which returned up to 505 g/t Ag Eq. over 11 m, by extending the mineralized footprint 39 m SE with the interception of massive sulphide mineralization in all 4 holes (see Company news release dated 18^th April 2023). Over 600 m to the NW Drillholes CMV23006-010 successfully discovered yet another mineralized structure, attesting to the prospectivity of the Cumavici Ridge target. Much of the > 7 km strike length structural corridor remains untested, with several mineralized structures cropping out at surface, offering Terra significant opportunity to discover more polymetallic epithermal veining.

Drill Core Observations

Drill hole CMV23007 is situated 520 m NW of CMV23001 and targets another shallow structure prospective for polymetallic mineralization. Between 39.1 and 41.8 m a series of fault hosted veins, dominated by radiating aggregates of stibnite are observed within a silicified lapilli tuff.

Figure 1. Geological map illustrating the newly discovered structure > 600 m NW of Cumavici Ridge. 2022 discovery holes are also illustrated alongside the 4 previously released 2023 drillholes to the SE, which all intercepted massive sulphide mineralization. See company news release 18^th April 2023

Figure 2. HQ3 diameter drill core from drillhole CMV23007 illustrating a silicified lapilli tuff with sulphide veinlets and interval of semi-massive sulphide comprising stibnite, sphalerite, and quartz

Drill hole CMV23009 collared 74.0 m NW of CMV23007 intercepted a zone of sulphide mineralization within a tuffaceous breccia between 39.4 and 45.7 m downhole. Within the mineralized structure there are intervals of complete replacement of the breccia matrix by sulphide and a 10 cm sulphide vein comprising stibnite-sphalerite-galena.

Drill hole CMV23010 stepped 59.0 m WNW and intersected a mineralised zone between 83.8 and 90.3 m downhole with aggregates of sphalerite within the structure. A 10 cm sulphide vein is present at 86.85 m depth consisting of stibnite, banded sphalerite, and galena. Confirmation of sulphide mineralization in CMV23010 extends the system at Cumavici Ridge to 642 m leaving it open to the NW.

Ongoing Exploration Program

Further drilling at the Cumavici Ridge target will be focused on extending strike length towards the NW from the 2022 drillholes (CMVDD001-004). It is interpreted that where the NW/SE structure is intersected by a 2^nd order NE/SW structure a dilation zone is present, resulting in thicker mineralized intervals. The down-dip section of the high-grade intercepts released in 2022 will also be tested for the first time.

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
CMV23006	359918	4888823	621.3	-64	047	82.2	99.15
CMV23007	359868	4888877	637.3	-63	046	59.7	99.35
CMV23008	359866	4888914	640.6	-66	053	65.8	98.71
CMV23009	359828	4888939	640.1	-58	041	73.8	100.00
CMV23010	359770	4888949	650.2	-50	045	91.5	97.49

Table 1. Collar locations for reported Phase II drillholes. Coordinates and elevation were taken by local consultant surveyors using a differential GPS unit. (WGS84/UTM Zone 34N).

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Closes Fourth Tranche of Private Placement Financing

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Terra Balcanica Completes Phase II Drilling at Viogor-Zanik Project in Bosnia and Closes Private Placement Financing

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2023 / Aug

Terra Balcanica Closes Fourth Tranche of Private Placement Financing

Vancouver, British Columbia – August 1^st 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) is pleased to announce closing of the 4th tranche of the non-brokered private placement financing (the “Offering”) of units (the ”Units”) as it continues drilling the Brezani porphyry target in eastern Bosnia and Herzegovina.

Fourth Tranche Private Placement Financing Closed

The Company issued an aggregate of 2,866,229 Units at a price of $0.085 per Unit for gross proceeds of $243,630 pursuant to the Offering announced on April 4^th, 2023. Each Unit consists of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.13 until July 31^st, 2026. Finders’ fees in the amount of $13,484 were paid.

Inclusive of the fourth tranche the Company has issued 12,141,497 units at a price of $0.085 for gross proceeds of $1,032,028 to date while continuing to raise funds into August of 2023. Terra intends to use the net proceeds of the Offering for working capital and to finance the Phase II drilling across its portfolio of properties in Bosnia and Serbia.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Continues Testing Brezani Porphyry Target in Bosnia and Closes Third Tranche of Financing

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Terra Balcanica Intersects Mineralized Structure 640 m Along Strike From Cumavici Ridge Polymetallic Epithermal Vein in Bosnia

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2023 / Jul

Terra Balcanica Continues Testing Brezani Porphyry Target in Bosnia and Closes Third Tranche of Financing

Vancouver, British Columbia – July 20^th 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the 3^rd tranche of the non-brokered private placement financing (the “Offering”) of units (the ”Units”) as it continues drilling the Brezani porphyry target in eastern Bosnia and Herzegovina.

Brezani Phase II Drilling Campaign

The Company is testing a 650 m wide conductivity high at the centre of an anomalously magnetic volume of rock, 1.2 km in diameter, where potassic altered porphyritic andesites overprinted by chlorite are found below a gold-bearing skarn (Figure 1). Here, the electrically resistive unit returned 88.0 m of 0.61 g/t AuEq from surface (see Company news release dated 24^th of January 2023). The redrilled Phase I drill hole has now been extended beyond its 2022 terminal depth of 215 m along the same dip and azimuth. The HQ diameter diamond drill bit has now reached 456 m as it progresses at a rate of ca. 20 m daily to intercept the >60 mS/m conductor in a week.

Figure 1. A NW-SE geophysical cross section showing the trajectory of the drillhole BREDD002. At 323m, the conductivity reaches 15mS/m and coincides with a pyrite rich footwall indicating that the subsurface resistivity is chiefly controlled by the rock sulfide content. Phyllic altered feldspar phyric andesite (lower right) contains marcasite rich groundmass with up to 2,000 ppm Sb and 600 ppm Co. Also present are pyrite veins with crosscutting calcite centrelines that yield up to 1,000 ppm Cu

BREDD002 Geology

From 240 m to 374.7m below surface, Terra’s BREDD002 drillhole has intersected a large package of phyllic altered hornfels with intermittent porphyry intrusions, crosscut at high angles and associated with both calc-silicate alteration and carbonate base metal veining.

At depth of 320 m and spatially coincident with a sub-horizontal conductivity change drilling has penetrated an intensely silicified structure underneath which there is a substantial increase in the volume of sulfide minerals and density of carbonate base metal veins (Figure 2). This structure, interpreted as a low-angle reverse fault, appears to intersect surface toward NW around the same area where gossanous material was previously mapped. It is suggested that this zone could be a target for intersection of carbonate-hosted, base metal veining.

The fault zone is characterized by increased pyrite veining and minor Zn, Sb, Sn anomalies and up to 2,100 ppm arsenic measured by the pXRF technique. If the current observed modal proportions of pyrite stay above 5 vol.% underneath the fault zone, along with the ubiquitous phyllic alteration overprint, this could be interpreted as evidence of the outer pyrite shell within a classic porphyry system and an indicator of potentially fertile ore system below.

Figure 2. Carbonate base metal vein registering 2,100 ppm arsenic by pXRF

Third Tranche Private Placement Financing Closed

The Company issued an aggregate of 1,194,118 Units at a price of $0.085 per Unit for gross proceeds of $101,500 pursuant to the Offering announced on April 4^th, 2023. Each Unit consists of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.13 until July 19^th, 2026. Finders’ fees in the amount of $1,190 were paid.

Inclusive of the third tranche the Company has issued 9,575,268 units at a price of $0.085 for gross proceeds of $813,898 to date while continuing to raise funds until the end of July. Terra intends to use the net proceeds of the Offering for working capital and to finance the Phase II drilling across its portfolio of properties in Bosnia and Serbia.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Closes Second Tranche of Financing and Starts Phase II Drilling at Brezani Porphyry Target in Bosnia

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Terra Balcanica Closes Fourth Tranche of Private Placement Financing

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2023 / Jun

Terra Balcanica Closes Second Tranche of Financing and Starts Phase II Drilling at Brezani Porphyry Target in Bosnia

Vancouver, British Columbia – June 22^nd 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce closing of the 2nd tranche of the non-brokered private placement financing (the “Offering”) of units (the ”Units”) and recommences drilling of the 1.2 km wide Brezani porphyry target at its flagship Viogor-Zanik project in Bosnia and Herzegovina.

Second Tranche Private Placement Financing Closed

The Company issued an aggregate of 3,620,564 Units at a price of $0.085 per Unit for gross proceeds of $307,748 pursuant to the Offering announced on April 4^th, 2023. Each Unit consists of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.13 until June 22^nd, 2026.

The Company intends to use the net proceeds of the Offering for working capital and to fund the Phase II drilling across its portfolio of properties. Finders’ fees in the amount of $10,465 were paid.

Aleksandar Mišković, President, CEO and a director (the “Insider”), purchased 147,059 Units as part of the Offering. The issuance of the Units to the Insiders constitutes a “related party transaction” as this term is defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, as the securities do not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The participation by an Insider in the Offering was approved by directors of the Company who are independent in connection with such transactions.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

Shares for Debt

The Company has agreed to settle outstanding debt in the amount of CDN$50,000 (the “Debt”) owing to a creditor (the “Creditor”) by issuing an aggregate of 588,236 common shares in the capital of the Company (the “Common Shares”) at a price of $0.085 per Common Share (the “Shares for Debt Transaction”). The Creditor is a private company 100% owned by Aleksandar Ilic, a director and shareholder of the Company. The Board of Directors has determined it is in the best interests of the Company to settle the outstanding Debt through the issuance of the Common Shares in order to preserve the Company’s cash for ongoing operations.

The issuance of the Common Shares to the Creditor constitutes a “related party transaction” as this term is defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, as the securities do not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101.

Closing of the Shares for Debt Transaction is subject to customary closing conditions and intended to close as soon as practicable. The Common Shares to be issued pursuant to the Shares for Debt Transaction will be subject to a hold period of four (4) months and one (1) day from the date of issuance.

Shares for Services

The Company entered into an arm’s length shares for services agreement dated April 18^th, 2023 (the “Agreement“) with a company providing drilling services at Terra’s Viogor-Zanik property (the “Service Provider”). For completion of services rendered under the Agreement between April 18th, 2023 and June 19th, 2023 the Company intends to issue (i) 984,378 units of the Company (“Consideration Units”) to the Service Provider, with each Consideration Unit consisting of one common share in the capital of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant will entitle the holder thereof to acquire one additional Share for a period of 36 months from the date of issuance at an exercise of $0.13. Each Consideration Unit will be issued at a deemed price of $0.085.

Closing of the distribution of Consideration Units pursuant to the Agreement is subject to customary closing conditions and intends to close as soon as practicable. The Common Shares to be issued pursuant to the Shares for Debt Transaction will be subject to a hold period of four (4) months and one (1) day from the date of issuance.

Phase II Drilling Starts at Brezani Target

The Company is recommencing diamond core drilling of the Brezani porphyry system to test a > 600 m wide conductivity anomaly at the centre of a 1.2 km wide anomalously magnetic volume of rock overprinted by potassic alteration under a gold-bearing skarn discovered in 2022 (Figure 1). Drilling within this electrically resistive unit returned 88.0 m of 0.61 g/t AuEq from surface (see company news release dated 24th of January 2023)

Concurrently with the Phase 2 Cumavici drilling program at Viogor-Zanik Terra’s geology team has expanded the strike length of calc-silicate hornfels at Brezani to over 800 m NW-SE and 275 m NE-SW thus expanding the volume of gold-bearing rock to drill test. Sulphide content and grain size increases to the south of the trend, indicating a possible proximity indicator to intrusive contact. The package of calc silicates is interpreted as a mineralized shoulder to the porphyry intrusion.

Figure 1. Conductivity profile of the Brezani target with >95th percentile magnetic anomaly. BREDD002 tested the resistive volume above an abrupt change into coincident high magnetic and elevated electrical conductivity response below 300 m depth which culminates at >60 mS/m at 450 m of depth. Dashed line represents distance from the end of BREDD002 to the top of conductor

Moving 700 m NE from the centre of the calc-silicates, pervasive argillic alteration of a granodioritic unit crops out over 600 m strike length representing the shallowest part of the porphyry system. Within this argillic alteration newly recognized massive specular hematite veining is present, indicative of oxidized hydrothermal fluids, adjacent to gold-bearing hydrothermal breccias. The alteration consists of a silicified groundmass and clay or vugs present after plagioclase feldspar destruction. Secondary, euhedral quartz and arsenopyrite-pyrite-galena-sphalerite can be seen infilling these vugs, offering yet another style of mineralization at the Brezani target.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Announces Shares for Debt

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Terra Balcanica Continues Testing Brezani Porphyry Target in Bosnia and Closes Third Tranche of Financing

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2023 / Jun

Terra Balcanica Announces Shares for Debt

Vancouver, British Columbia – June 8^th 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) has agreed to settle outstanding debt in the amount of CDN$77,923 (the “Debt”) owing to an arm’s length creditor by issuing an aggregate of 916,749 common shares in the capital of the Company (the “Common Shares”) at a price of $0.085 per Common Share (the “Shares for Debt Transaction”). The Board of Directors has determined it is in the best interests of the Company to settle the outstanding Debt by the issuance of the Common Shares in order to preserve the Company’s cash for ongoing operations.

Closing of the Shares for Debt Transaction is subject to customary closing conditions and intends to close as soon as practicable. The Common Shares to be issued pursuant to the Shares for Debt Transaction will be subject to a hold period of four (4) months and one (1) day from the date of issuance.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Appoints Business Development Officer

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Terra Balcanica Closes Second Tranche of Financing and Starts Phase II Drilling at Brezani Porphyry Target in Bosnia

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2023 / May

Terra Balcanica Appoints Business Development Officer

Vancouver, British Columbia – May 15^th 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) announces the appointment of Rodney Stevens as its Business Development Officer.

Mr. Stevens is a CFA Charterholder with over a decade of experience in the capital markets, first as an investment analyst with Salman Partners Inc., and subsequently as a merchant and investment banker. While at Salman Partners, he was proclaimed the 2007 top-rated analyst for the metals and mining industry by StarMine. Mr. Stevens was also a portfolio manager registered with Wolverton Securities Ltd. and over the course of his career, he has been instrumental in assisting financings, mergers and acquisitions worth over C$1 billion in transactional value.

In consideration of his business development efforts, the Company will grant Mr. Stevens options and other compensation at a future date as appropriate, at the discretion of the Board of Directors.

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented:

Terra continues to add high quality personnel to its senior management team. Mr. Stevens is superbly knowledgeable about the North American precious metal commodity space and in particular, silver-focused, mineral exploration industry. He shares the common vision of Terra as a prime European silver discovery explorer and his capital markets insight will be crucial as we progress up the inflection point of our corporate development. I welcome Rod to the roster and look forward to working with him in anticipation of exciting 2023 drill results.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Confirms Epithermal Gold and Porphyry Copper Targets at Ceovishte in Serbia and Closes First Tranche of Financing

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Terra Balcanica Announces Shares for Debt

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2023 / May

Terra Balcanica Confirms Epithermal Gold and Porphyry Copper Targets at Ceovishte in Serbia and Closes First Tranche of Financing

Vancouver, British Columbia – May 8^th 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce positive assay results from surface rock chip and soil sampling at its 80.4 km² Ceovishte license in southern Serbia and closing of the 1^st tranche of the previously announced non-brokered private placement financing of units (the ”Units”) for gross proceeds of $404,650 (the “Offering”).

Highlights

Surface rock sample include concentrations as high as 53.5 g/t Au, 78.6 g/t Ag and 2.47 % Cu with up to 0.39% Co and 0.45% Bi (Table 1);
>900 m strike length of Au-Ag-As-Bi-Cu-Te anomalism in soil geochemistry defines new target, with soil assays returning up to 2.42 g/t Au (Figure 2);
Mineralization is controlled by potassic altered diorites hosting quartz-chalcopyrite veins with secondary copper mineralogy at surface (Figure 3) and a gold-bismuth-cobalt rich epithermal assemblage;
Drill-ready with both porphyry and epithermal mineralization visible at collar locations.

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented:

Detailed prospecting, rock chip and soil sampling at our Serbian Ceovishte licence not only confirmed the existence of a sizable hydrothermal system responsible for multi-ounce gold assays at surface near the Medjurečje locality but also defined a new, 900-m-wide, topographically depressed, semi-circular gold-silver-copper soil anomaly northeast of the high-grade Au zone that is characterized by potassic altered andesites interpreting by Terra’s technical team to represent a previously neglected porphyry target. This confirms the potential of our Serbian assets and represents a significant diversification of the Company’s polymetallic portfolio already defined by our Viogor Zanik project. It sets the stage for drilling of the shallow high grade gold target later this year.

The Ceovishte license totals over 80 km² of highly prospective land for gold and copper exploration in the historic Raska mining district of southern Serbia (Figure1). The license area drapes southern slopes of the Golija Mountain, a part of the well-known Kopaonik metallogenic zone. This area features the Kiževak and Sastavci Pb-Zn-Ag mines including the Karadak deposit, all owned by Adriatic Metals plc. The historical Yugoslav GKZ, non-NI 43-101 compliant resource estimates for Kiževak is 3.9 Mt of ore grading 3.92 % Zn, 2.15 % Pb and 31 g/t Ag categorized according to the Yugoslav A+B+C1 resource nomenclature (www.adriaticmetals-serbia.com/our-projects/adriatic-metals-serbia-sastavci). The Raska mining district also holds the Rudnica Cu-Au porphyry target and is a northerly extension of the partially exploited, world class Trepča Pb-Zn-Ag skarn deposit of the norther Serbian province of Kosovo. Trepča features a non-NI 43-101 compliant resource of 60.5 Mt of ore grading over 8.0 % Pb+Zn and >159 Moz of Ag.

Figure 1. Geological map of the Ceovishte license area in southern Serbia. The black rectangle labelled Figure 2 is Terra’s primary area of interest within the license. It encapsulates Au-Cu mineralized Neogene volcanic rocks which intruded an ultramafic country rock of the West Vardar Ophiolite. Previous operators conducted work in the south of the Ceovishte license and overlooked the Au-Cu potential of the north where Terra has conducted a successful soil and rock chip sampling campaign and is planning a maiden drilling program in early Q3 of 2023

Figure 2. Map displaying Au in soil (ppb), and anomalous Au-Ag-As-Bi-Cu-Te signature. Sampling verifies the location of known mineralization and reveals > 900 m strike length of new prospective ground open to the NE. Rock sample IDs can be correlated with results in Table 1. The drill target is labelled where rock chips return up to 53.5 g/t Au and 1.45 % Cu. Note the location of anomalous Au in soil forming an arcuate pattern around the depressed centre, interpreted as possible concentric fractures around a porphyry intrusive which crops out in the south and northwest. (WGS84/UTM Zone 34N)

Geology and Mineralization

The Company is focussed on exploring the overlooked Au-Ag-Cu (Bi-Co) occurrences in the northern extents of the license where Neogene intrusive rocks of intermediate composition are emplaced within ultramafic rocks of the west Vardar Ophiolite Belt. Field observations and microscopy confirms biotite-magnetite-k-feldspar potassic alteration within the diorites, which are observed controlling the distribution of mineralization and are thus inferred as the causative intrusion and target for further exploration. Intrusive contacts and vein-hosted sulphides in the south dip shallowly to the NNE below ultramafic cover into an annular topography low.

Both hypogene sulphide mineralization and supergene oxide zones are present at Ceovishte and returned very encouraging assay results of a well-endowed Au-Ag-Cu system. Quartz-chalcopyrite veins are partially oxidised at surface producing a mixture of malachite, azurite and tenorite (Figure 3) and occur within the same outcrops as quartz-arsenopyrite-bismuthinite veins. Chalcopyrite is also observed finely disseminated within the potassic altered intrusives. Gossans and vuggy silica host the highest Au values up to 53.5 g/t.

Figure 3. Macroscopically observed copper mineralization in samples 103281 and 103276 which returned 1.45 % and 2.47 % Cu, respectively. Mineralization is vein-hosted within potassic altered diorites and comprises quartz, chalcopyrite, malachite, azurite and tenorite

Mineralized rock samples also return high bismuth and cobalt, which may have been stripped from the ultramafic country rocks by hydrothermal fluids and re-precipitated within the epithermal veins. Ceovishte therefore has characteristics of the 5-element vein (Ag-Bi-Co-Ni-As) style of mineralization.

Sample	Easting	Northing	Au (g/t)	Ag (g/t)	Bi (ppm)	Cu (%)	Co (ppm)
100851	476500	4815182	53.5	8.7	4490	0.03	12
100838	475554	4816186	0.19	78.6	2	0.01	71
100839	476417	4815188	11.0	10.1	3570	0.14	805
103273	476383	4815204	6.56	1.2	299	0.01	1300
103271	476335	4815157	0.48	1.8	20	0.12	21
103282	476479	4815173	10.95	0.82	299	0.02	3940
103264	476602	4815182	0.09	18.9	6	0.01	5.7
103267	475606	4816196	0.02	0.69	42	0.04	9
103262	475628	4816084	3.09	11.8	480	0.03	336
103269	475605	4816158	0.10	1.7	0.4	–	9
103276	476179	4815987	0.05	10.8	20	2.47	13
103279	476376	4815128	0.39	2.16	5	0.01	27
103280	476383	4815133	3.28	1.42	224	0.01	145
103277	476189	4815997	2.2	0.5	69	0.01	88
103281	476514	4815189	0.16	21.5	144	1.45	50

Table 1. Rock chip locations and assay results for key commodity elements. Samples can be seen with anomalous Au in soil Figure 1. (WGS84/UTM Zone 34N).

Soil Geochemistry

Results from 386 B/C horizon soil samples successfully captured the signature of Au-Cu mineralization at Ceovishte. Two known occurrences were highlighted by the sampling, verifying the Au-Ag-As-Bi-Cu-Te grouping as representing mineralization, with a further 900 m strike length anomaly being generated for follow up in the north of the survey. The newly defined target area returned assays up to 2.42 g/t Au and 424 ppm Cu in soil. This area has not seen rock chip sampling and offers significant exploration upside for extending the footprint of known Au-Cu mineralization.

Elevated commodity and pathfinder elements in soil correlate to a K-Ba-Na element grouping, indicating sub cropping intermediate composition intrusives rather than the ultramafic country rock which has a strong Ni-Co-Cr-Mg signature. Soil anomalism generates an annular pattern which surrounds a central topographic depression with enclosing ridges of ultramafic rock. This correlation could indicate concentric and ring radial fractures, which have formed around a central porphyry intrusive and focussed hydrothermal fluid flow. Potassic altered, Au-Cu mineralized diorite intrusives have been observed and sampled at both the southern and northern extents of this annular feature, with over 900 m of untested strike length in the northeast.

Future Exploration Program

The northern Ceovishte licence is drill-ready with pad locations designed to test the depth extensions of the Au-Cu mineralization sampled on surface. Following positive results in maiden drilling geophysics will be considered to guide a larger phase II drilling program.

Follow up of the anomalous soil geochemistry will be undertaken in the northeast through geological/alteration mapping and rock chip assay. This will generate a pipeline of targets for drill testing. Further soil sampling will be completed in the northeast where the anomaly remains open to define its full spatial extent.

1^st Tranche Private Placement Financing Closed

The Company issued an aggregate of 4,760,586 Units at a price of $0.085 per Unit for gross proceeds of $404,650 pursuant to the Offering announced on April 4^th, 2023. Each Unit consists of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.13 until May 5^th, 2026.

Giulio Bonifacio, Chair of the board of directors, Steven Latimer, a director, and Kim Oishi, a director (the “Insiders”) purchased 1,194,117 Units as part of the Offering. The issuance of the Units to the Insiders constitutes a “related party transaction” as this term is defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, as the securities do not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The participation by Insiders in the Offering was approved by directors of the Company who are independent in connection with such transactions.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

QAQC

Representative rock samples were taken from surface outcrops and sent to ALS Bor, Serbia for sample preparation and subsequent wet chemical analysis at the Loughrea laboratory in Ireland, and ISO/IEC 17025:2017 certified test facility. Sample preparation PREP-31BY method involved crushing the core to a 70% fraction less than 2 mm in size, rotary split 1.0 kg and pulverizing the split to greater than 85% passing 75 microns. Silver and base metals were analysed by ICP MS after a four-acid digest (ME-MS61). Gold was assayed by 30g fire assay with ICP AES finish (Au-ICP21). Over limit samples for base metals were re-analysed by the four-acid digest ICP-AES analyses termed ME-OG62. Over-limit gold analysis was conducted by fire assay and gravimetric finish (Au-GRA21). Soil samples were taken in the B/C horizon and sent to ALS Bor, Serbia. Analysis was undertaken after dry screening to 180 microns by method AuME-TL44 an aqua regia digest followed by ICP analysis on a 50g sample. Over-assays were conducted by the OG-46 (base metals) and Au-AROR44 (gold) techniques.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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expand table

Table 2. Sample point location and key assay results for soil samples at Ceovishte.

Sample ID	Easting	Northing	Au (ppm)	Ag (ppm)	As (ppm)	Bi (ppm)	Cu (ppm)
101302	477029	4814895	0.002	0.04	15.4	0.26	31.3
101303	477029	4814996	0.002	0.1	17.8	0.8	117
101304	477027	4815093	0.002	0.03	13.1	0.22	19.6
101305	477030	4815189	0.001	0.04	15.6	0.33	22.3
101306	476140	4814893	0.008	0.1	91.2	0.78	45.4
101307	476233	4814910	0.006	0.06	53	0.68	41.3
101308	476325	4815000	0.006	0.05	54.5	0.17	34.5
101309	476371	4815044	0.027	0.12	276	4.54	44
101310	476339	4814901	0.004	0.13	40.4	1.57	45.6
101311	477130	4814689	0.002	0.09	12.4	0.36	29.8
101312	477133	4814786	0.001	0.05	12.4	0.32	24.9
101313	477131	4814890	0.002	0.08	12	0.41	18.6
101314	477131	4814989	0.002	0.06	16.8	0.27	21.5
101315	477129	4815088	0.001	0.04	13.2	0.3	16.2
101316	477128	4815188	0.001	0.03	14.4	0.25	21.9
101317	477132	4815291	0.003	0.04	19.8	0.39	42.7
101318	476934	4814693	0.002	0.07	22.9	0.36	35.4
101319	476928	4814788	0.002	0.29	12.8	0.49	29.1
101320	476924	4814881	0.001	0.06	16.8	0.47	34
101321	476928	4814996	0.003	0.04	18.1	0.45	27.6
101322	476931	4815092	0.002	0.07	23.2	0.89	26.2
101323	476927	4815196	0.002	0.04	29.3	0.76	22.4
101324	476928	4815297	0.005	0.04	45.9	1.08	31.2
101325	477028	4815293	0.004	0.03	21.2	0.26	19.1
101326	476832	4815292	0.003	0.08	9.3	0.33	12.8
101327	476778	4815237	0.005	0.07	25.7	0.72	23
101328	476736	4815188	0.002	0.04	11	0.27	12.8
101329	476681	4815136	0.002	0.02	9.8	0.25	8
101330	476681	4815136	0.002	0.02	9.4	0.25	8.2
101331	476585	4815033	0.003	0.04	28.2	0.2	14.2
101332	476471	4815029	0.005	0.08	30.7	0.63	25.8
101333	476437	4814985	0.026	0.18	163	3.99	41.7
101334	476535	4815078	0.003	0.05	28.8	0.05	10
101335	476584	4815127	0.003	0.37	14.5	0.03	12
101336	476632	4815184	0.005	0.11	51.3	0.65	18.2
101337	476670	4815240	0.002	0.05	9.1	0.05	105
101338	476736	4815293	0.019	0.18	309	0.86	29.1
101339	476777	4815330	0.015	0.72	84.4	1.56	64
101340	476634	4815093	0.008	0.03	42.9	0.3	38
101341	476164	4815430	0.001	0.03	17.1	0.23	28.7
101342	476130	4815590	0.003	0.04	36.7	0.33	25.5
101343	476209	4815489	0.002	0.06	48.8	0.43	21.4
101344	476252	4815391	0.002	0.05	25.5	0.36	28.5
101345	476281	4815423	0.002	0.03	14	0.31	25.9
101346	476326	4815493	0.002	0.07	16.8	0.21	34.7
101347	476334	4815593	0.003	0.04	22.6	0.26	32.2
101348	476477	4815436	0.002	0.06	31	0.38	21.1
101349	476541	4815475	0.002	0.02	8.8	0.14	12.4
101350	476619	4815486	0.002	0.02	14.8	0.44	13.4
101351	476677	4815432	0.003	0.09	45.5	0.65	34.2
101352	476630	4815390	0.004	0.04	25.6	0.62	28.8
101353	476586	4815426	0.002	0.04	20.5	0.5	15.1
101354	477024	4815593	0.006	0.04	38.6	0.76	37.3
101355	476840	4815790	0.004	0.02	13.4	0.57	20
101356	476838	4815684	0.004	0.03	15.6	0.49	15.6
101357	476922	4815576	0.004	0.05	24.7	0.59	25.3
101358	476837	4815566	0.004	0.05	22.2	0.56	25.3
101359	476678	4815033	0.01	0.07	25	0.42	9.4
101360	476678	4815033	0.005	0.08	22.6	0.37	9.3
101361	476776	4815032	0.001	0.04	13.6	0.28	14.6
101362	476830	4814686	0.002	0.06	27.7	0.47	21.1
101363	476836	4814791	0.003	0.02	16.6	0.16	23.9
101364	476830	4814888	0.003	0.03	12.3	0.31	22.4
101365	476833	4814985	0.038	0.05	16.6	0.57	29
101366	476832	4815092	0.002	0.2	15.6	0.41	19
101367	476832	4815191	0.004	0.06	19.2	1.72	27
101368	476736	4814685	0.01	0.14	59.1	1.09	47.9
101369	476735	4814786	0.011	0.08	61.1	1.81	31.4
101370	476741	4814890	0.006	0.17	27.5	0.34	22
101371	476731	4814989	0.002	0.05	11.6	0.41	16.8
101372	476736	4815092	0.006	0.06	12.4	0.33	14
101373	476778	4815133	0.002	0.12	13.2	0.53	23.6
101374	476638	4814992	0.003	0.03	20.2	0.53	17.3
101376	476253	4814988	0.007	0.16	140	1.42	37.4
101377	476323	4814686	0.005	0.05	20.5	0.61	32.4
101378	476634	4814885	0.004	0.18	56.9	1.96	39.6
101379	476525	4814906	0.004	0.13	28.8	1.18	27.5
101380	476428	4814692	0.002	0.06	127	0.4	14
101381	476528	4814688	0.002	0.03	15.8	0.3	18.3
101382	476627	4814696	0.005	0.09	18.2	0.3	23.1
101383	476629	4814809	0.003	0.04	18.7	0.25	13.2
101384	476532	4814793	0.012	0.03	125.5	1.33	28.1
101385	476427	4814802	0.013	0.1	57.7	1.29	45.5
101386	476421	4814896	0.007	0.16	63.9	1.76	44.1
101152	476131	4815692	0.017	0.23	71.6	0.58	69.9
101153	476234	4815590	0.003	0.06	19.2	0.33	30.9
101154	476139	4815475	0.003	0.03	5.1	0.04	16.4
101155	476233	4815687	0.001	0.05	11	0.34	12.7
101156	476436	4815786	0.005	0.11	27.3	1.3	25.2
101157	476434	4815685	0.002	0.03	18.1	0.15	21.9
101158	476336	4815684	0.001	0.04	44.7	0.45	24.3
101159	476333	4815785	0.054	0.1	246	8.35	37.8
101160	476427	4815984	0.005	0.11	36.1	1.36	35.3
101161	476531	4815888	0.002	0.05	35.4	0.88	20.3
101162	476531	4815790	0.005	0.05	44.3	1.2	30.6
101163	476531	4815689	0.003	0.05	39.8	0.95	25.2
101164	476530	4815587	0.003	0.03	20.7	0.52	16.4
101165	476137	4816095	0.002	0.05	23.3	0.42	19.6
101166	476133	4815993	0.002	0.05	29.7	0.35	23.9
101167	476129	4815895	0.002	0.05	18.8	0.29	18.7
101168	476134	4815785	0.008	0.06	134.5	0.62	38.8
101169	476230	4816086	0.005	0.1	51.4	1.6	25
101170	476235	4815989	0.003	0.08	44.8	0.67	25.2
101171	476230	4815886	0.002	0.07	55.4	0.65	24.4
101172	476318	4816184	0.004	0.08	37.4	0.28	10.4
101173	476327	4816085	0.003	0.08	38.3	0.52	23.3
101174	476329	4815992	2.42	0.8	3870	591	424
101175	476426	4816095	0.014	0.1	46.7	1.27	31.8
101176	476429	4816287	0.007	0.2	125.5	1.91	19.8
101177	476424	4816185	0.003	0.14	60.1	0.92	23.2
101178	476530	4816090	0.01	0.12	39.7	1.15	25.1
101179	476530	4816090	0.008	0.13	38.8	1.08	24.5
101180	476533	4815986	0.007	0.14	46.6	1.17	30.5
101181	476531	4816288	0.01	0.26	22.9	0.53	22.6
101182	476527	4816188	0.012	0.19	9.3	0.21	15.2
101183	476733	4816196	0.018	0.12	36.2	5.17	41.2
101184	476735	4816093	0.007	0.09	32.8	1.02	33.4
101185	476737	4815990	0.006	0.07	32.8	1.05	36.1
101186	476733	4815892	0.004	0.1	35.1	0.86	26.2
101187	476733	4815789	0.001	0.05	12.4	0.62	12.2
101188	476731	4815688	0.002	0.05	13.6	0.58	13.8
101189	476638	4816091	0.009	0.11	31.5	1.01	23.2
101190	476621	4815988	0.006	0.12	63	1.09	24.6
101191	476638	4815889	0.007	0.07	31.7	1.72	36.8
101192	476635	4815785	0.003	0.06	23.2	0.59	29.2
101193	476733	4815589	0.002	0.03	16.2	0.52	13
101194	476837	4816281	0.008	0.13	32.4	0.76	39.1
101195	476637	4815692	0.001	0.04	15.2	0.57	13.4
101196	476635	4815591	0.003	0.05	23.6	0.7	18.2
101197	476819	4816195	0.011	0.11	33.4	0.83	40.2
101198	476838	4816078	0.006	0.09	34.2	1	34.6
101199	476829	4815980	0.009	0.06	30.5	0.86	37.3
101200	476834	4815888	0.002	0.06	30.1	0.7	34.5
101201	476938	4816288	0.023	0.1	27.5	0.48	44.2
101202	476946	4816169	0.003	0.06	32.1	0.62	25.7
101203	476926	4816092	0.006	0.1	28	0.88	34.2
101204	476933	4815988	0.006	0.07	9.9	0.18	35.9
101205	476931	4815892	0.003	0.06	33.9	0.67	23.4
101206	476932	4815787	0.005	0.06	25.6	0.51	24.3
101207	476933	4815690	0.002	0.04	14.8	0.4	14.4
101208	477130	4816183	0.016	0.1	19.6	1.45	29.5
101209	477133	4816086	0.01	0.08	21	1.98	27.8
101210	477133	4816086	0.011	0.08	24.9	2.08	26.8
101211	477026	4816278	0.029	0.06	29.9	0.98	33.1
101212	477031	4816191	0.01	0.09	20.5	0.51	62.4
101213	477031	4816091	0.007	0.1	40.9	0.83	35.8
101214	477030	4815985	0.007	0.11	23.1	0.81	43.7
101215	477034	4815893	0.004	0.05	21.1	0.71	22.3
101216	477034	4815786	0.003	0.06	22.7	0.4	30.5
101217	477035	4815693	0.077	0.2	12.9	0.49	362
101218	477133	4816300	0.048	0.14	23.2	0.26	19.1
101219	477231	4816290	0.017	0.13	30.1	0.66	39.5
101220	477233	4816182	0.024	0.12	25.7	4.42	30.2
101221	477235	4816089	0.017	0.08	21.7	2.51	40.9
101222	477255	4815982	0.005	0.03	10.6	0.35	25
101223	477233	4815891	0.045	0.24	31.2	0.72	181.5
101224	477210	4815793	0.015	0.12	37.8	0.52	31.7
101226	477212	4815613	0.003	0.03	8	0.18	16.6
101227	477243	4815691	0.003	0.07	13.3	0.24	26.8
101228	477227	4815489	0.004	0.13	19.1	0.78	49
101229	476131	4815392	0.008	0.12	33	1	35.8
101230	477134	4815986	0.005	0.1	10	0.52	53.9
101231	477133	4815885	0.006	0.08	18	1	29.7
101232	477148	4815779	0.009	0.11	35.3	0.65	47.6
101233	477126	4815684	0.009	0.06	39.8	0.45	52.2
101234	477122	4815579	0.002	0.01	4	0.04	10.4
101235	476131	4815291	0.008	0.06	21.8	0.25	42.1
101236	476132	4815194	0.012	0.08	82.3	1.35	72.7
101237	476133	4815093	0.012	0.1	40.8	0.42	41.8
101238	476126	4814991	0.008	0.09	9.2	0.16	44
101239	476126	4814991	0.008	0.08	9.4	0.16	41.6
101240	476644	4816204	0.009	0.09	33.2	2.37	31.2
101241	476626	4816285	0.042	0.08	28.8	5.34	51
101242	476727	4816297	0.119	0.48	80.8	74.2	344
101243	476333	4815392	0.004	0.07	29.2	0.71	30.4
101244	476279	4815339	0.002	0.03	14.6	0.41	18.6
101245	476332	4815291	0.002	0.05	22.5	0.31	27.3
101246	476279	4815240	0.005	0.08	13.8	0.26	17.9
101247	476331	4815193	0.005	0.07	33	0.59	32.5
101248	476277	4815135	0.003	0.06	28.1	0.24	54.5
101249	476281	4815034	0.015	0.05	4.7	0.11	87
101250	476343	4815090	0.007	0.03	114.5	0.29	23.6
101251	476431	4815491	0.003	0.09	36.5	0.43	21
101252	476429	4815588	0.002	0.05	92.9	0.35	24.4
101253	476183	4815343	0.011	0.15	12.6	0.13	22.3
101254	476232	4815292	0.004	0.04	13.7	0.19	29.2
101255	476180	4815234	0.023	0.11	19.5	0.12	237
101256	476230	4815188	0.01	0.08	22.9	0.39	72.1
101257	476182	4815133	0.013	0.1	34.3	0.34	39.7
101258	476229	4815090	0.007	0.08	45.9	0.67	49.8
101259	476177	4815037	0.009	0.07	29.8	0.2	61.3
101260	476229	4814991	0.013	0.09	39.3	0.77	57.2
101261	476381	4815430	0.024	0.09	71.1	0.77	14.5
101262	476430	4815388	0.002	0.06	36.7	0.45	18.3
101263	476375	4815332	0.002	0.06	24.1	0.37	21.2
101264	476372	4815236	0.005	0.07	31.5	0.41	29.2
101265	476476	4815331	0.008	0.09	31.5	0.76	26.4
101266	476432	4815281	0.011	0.15	41.7	0.69	25.1
101267	476531	4815387	0.002	0.09	37.2	0.49	23.5
101268	476531	4815387	0.003	0.08	36	0.52	22.9
101269	476566	4815333	0.006	1.12	25	0.27	19
101270	476530	4815291	0.003	0.09	27.8	0.59	19.4
101271	476476	4815231	0.014	0.13	40.2	0.74	20.1
101272	476380	4815133	0.003	0.03	114	0.17	7.7
101273	476431	4815196	0.042	0.15	2340	7.27	127
101274	476628	4815296	0.005	0.48	21.5	0.37	36.2
101275	476570	4815238	0.006	0.1	56.8	1	22.9
101276	476525	4815188	0.034	0.91	208	26.8	285
101277	477121	4815494	0.001	0.04	12.5	0.32	11.8
101278	476471	4815127	0.31	0.32	3250	43.1	84.7
101279	476429	4815057	0.016	0.19	32.8	1.3	36.2
101280	476666	4815348	0.002	0.12	14	0.2	10.4
101281	477027	4815499	0.008	0.14	18.8	0.5	38.2
101282	476924	4815480	0.008	0.12	12	0.28	34.4
101283	476813	4815497	0.004	0.08	11.4	0.08	23.3
101284	476777	4815423	0.006	0.11	16.4	0.08	17.6
101285	476733	4815379	0.003	0.07	17.6	0.17	5.6
101286	477133	4815414	0.004	0.02	9.4	0.19	25.7
101287	477036	4815398	0.008	0.2	28.5	0.74	34.8
101288	476933	4815421	0.01	0.05	66.1	0.45	71.5
101289	476830	4815401	0.008	0.13	14.7	0.22	28
101290	477225	4814695	0.002	0.01	4	0.02	6.6
101291	477236	4814786	0.002	0.03	13.4	0.27	21
101292	477234	4814885	0.001	0.05	15.6	0.35	21.9
101293	477231	4814987	0.001	0.04	19.4	0.3	20.5
101294	477231	4815088	0.003	0.04	15	0.33	22
101295	477224	4815180	0.001	0.005	26.2	0.01	2.9
101296	477217	4815277	0.003	0.04	13.2	0.27	27.8
101297	477217	4815277	0.002	0.04	13.2	0.26	27.7
101298	477224	4815390	0.002	0.02	3.9	0.11	32.8
101299	477019	4814691	0.005	0.28	25.2	2.19	49.6
101300	477029	4814794	0.002	0.05	15.5	0.35	19.4
101002	475433	4816675	0.012	0.09	89.6	0.56	29.2
101003	475430	4816593	0.002	0.08	10.6	0.29	22.1
101004	475537	4816684	0.008	0.06	102.5	1.14	31.2
101005	475634	4816686	0.002	0.07	23.8	0.71	26.8
101006	475630	4816580	0.001	0.05	14.6	0.32	20.2
101007	475533	4816583	0.001	0.04	24.8	0.18	16.8
101008	475435	4816492	0.001	0.04	12	0.27	18.7
101009	475532	4816489	0.0005	0.15	11	0.24	18.3
101010	475634	4816490	0.003	0.06	16.6	0.44	28.4
101011	475533	4816388	0.001	0.04	12.3	0.23	14.4
101012	475412	4816392	0.002	0.1	17.8	0.19	22.7
101013	475629	4816387	0.002	0.07	28.6	0.34	26.5
101014	475435	4816288	0.01	0.13	45.6	0.27	18.4
101015	475435	4816187	0.004	0.16	46.8	0.29	22.6
101016	475434	4816087	0.002	0.08	16.4	0.26	19
101017	475436	4815988	0.002	0.03	17.3	0.33	17.8
101018	475432	4815885	0.003	0.04	16	0.28	31.5
101019	475435	4815787	0.001	0.03	7.3	0.16	26.8
101020	475431	4815692	0.001	0.04	7.3	0.15	30.5
101021	475431	4815584	0.001	0.04	9.4	0.22	24.7
101022	475441	4815493	0.001	0.06	10.5	0.19	34
101023	475438	4815388	0.004	0.05	7.6	0.16	62.8
101024	475441	4815289	0.002	0.05	7.1	0.18	24
101025	475430	4815189	0.002	0.03	6.3	0.15	18.6
101026	475427	4815085	0.002	0.03	12.3	0.22	28.1
101027	475433	4814995	0.004	0.02	14.3	0.22	21.4
101028	475437	4814899	0.002	0.04	14.4	0.16	19.6
101029	475439	4814788	0.002	0.03	7	0.12	20.9
101030	475439	4814788	0.002	0.03	7	0.11	21.6
101031	475541	4814894	0.003	0.04	16.4	0.3	25.1
101032	475542	4814798	0.002	0.04	9.5	0.18	26.6
101033	475531	4814691	0.003	0.05	7	0.09	31.1
101034	475432	4814691	0.002	0.05	8.2	0.14	35.9
101035	475635	4814687	0.001	0.04	11.4	0.26	18.4
101036	475728	4814686	0.002	0.03	9.2	0.17	28.6
101037	475633	4814790	0.003	0.04	13.3	0.27	26.3
101038	475631	4814890	0.002	0.04	10.9	0.21	26.9
101039	475729	4814795	0.001	0.03	9	0.24	14.2
101040	475730	4814891	0.003	0.04	12.9	0.3	21
101041	475529	4815090	0.001	0.04	9.6	0.23	17.9
101042	475525	4814994	0.003	0.03	10.6	0.18	24.5
101043	475630	4814986	0.003	0.03	7.1	0.13	29.3
101044	475625	4815085	0.002	0.04	5.7	0.17	17.1
101045	475730	4814992	0.003	0.06	8	0.2	23.6
101046	475830	4814895	0.005	0.03	16.4	0.26	42.6
101047	475832	4814796	0.001	0.06	11.2	0.21	20.4
101048	475529	4816298	0.002	0.06	25.8	0.31	23.5
101049	475525	4816189	0.186	0.12	34.7	0.34	16.4
101050	475537.9	4816091	0.006	0.24	305	3.19	36.8
101051	475536	4815995	0.004	0.21	132.5	3.84	25.3
101052	475535	4815896	0.014	0.27	49.1	0.24	17
101053	475534	4815792	0.001	0.03	11.5	0.24	25.9
101054	475536	4815691	0.001	0.03	8.8	0.23	26.2
101055	475538	4815594	0.002	0.04	9.9	0.2	28.9
101056	475533	4815478	0.001	0.04	9.6	0.22	27.7
101057	475549	4815407	0.002	0.05	6.5	0.15	30.6
101058	475536	4815294	0.003	0.04	8.7	0.19	23.4
101059	475551	4815195	0.002	0.04	7.3	0.24	12.4
101060	475551	4815195	0.001	0.04	7.4	0.24	12.6
101061	475642	4815188	0.007	0.23	22.7	0.25	29.2
101062	475938	4814793	0.002	0.04	13	0.27	20.5
101063	475932	4814883	0.003	0.04	11.8	0.24	33.3
101064	475836	4814980	0.002	0.05	10.8	0.27	21.2
101065	475726	4815089	0.001	0.04	11.3	0.26	18.6
101066	475727	4815196	0.005	0.25	19.7	0.42	31.3
101067	475932	4814987	0.001	0.04	11	0.28	24.1
101068	475634	4815299	0.002	0.02	5.2	0.06	15.8
101069	475637	4815390.4	0.002	0.05	5.4	0.19	20.8
101070	475631	4815486	0.001	0.03	9.1	0.19	29.7
101071	475616	4816299	0.002	0.13	108.5	0.11	73.7
101072	475633	4816198	0.002	0.09	26.6	0.26	24.8
101073	475631	4816086	2.39	13.9	11500	220	199
101074	475840	4814683	0.006	0.09	31.3	0.28	25.9
101076	475941	4814683	0.003	0.05	14.3	0.32	21.8
101077	476039	4814792	0.003	0.12	37.2	0.4	23.3
101078	476038	4814693	0.005	0.07	15	0.17	13.6
101079	476137	4814692	0.006	0.33	64.8	1.09	55.7
101080	476131	4814790	0.002	0.08	21.5	0.39	28
101081	475636	4815996	0.004	0.62	116.5	2.77	20.2
101082	475620	4815890	0.003	0.09	6.6	0.1	10.3
101083	475634	4815793	0.004	0.07	7.7	0.2	15
101084	475629	4815587	0.002	0.08	30.9	0.26	26.1
101085	475631	4815689	0.002	0.1	44.3	0.25	24
101086	476235	4814789	0.014	0.92	114.5	2.39	122
101087	476340	4814775	0.006	0.08	41.4	0.73	35.3
101088	475825	4815090	0.002	0.04	11.5	0.27	20.6
101089	475825	4815090	0.001	0.03	11.2	0.25	19.9
101090	476034.77	4814891	0.001	0.08	15.9	0.27	21.9
101091	476034	4814998	0.009	0.12	18.9	0.14	46.9
101092	475831	4815191	0.006	0.1	28.6	0.31	29
101093	475930	4815090	0.002	0.05	19.8	0.31	20.5
101094	475726	4815387	0.042	0.15	42.2	0.41	25
101095	475732	4815291	0.001	0.08	33.4	0.32	25.9
101096	475734	4816294	0.001	0.06	34.9	0.17	23.3
101097	475728	4816198	0.001	0.07	39.6	0.16	16.4
101098	475740	4816099	0.003	0.02	23	0.11	10.7
101099	475735	4815995	0.003	0.07	32.7	0.1	10.8
101100	475833	4816091	0.002	0.21	44	0.64	28.7
101101	475835	4815982	0.002	0.04	16.4	0.19	18.4
101102	475833	4815893	0.002	0.09	21.6	0.31	23.6
101103	475834	4816289	0.001	0.08	41.6	0.19	20.5
101104	475827	4816187	0.001	0.1	30.2	0.19	24.6
101105	475733	4815786	0.003	0.04	15	0.19	16
101106	475761	4815691	0.009	0.11	21.9	0.46	20.3
101107	475830	4815584	0.018	0.03	60.9	0.35	27.4
101108	475732	4815586	0.001	0.05	19.1	0.27	21.3
101109	475719	4815497	0.003	0.06	33.9	0.49	21.5
101110	475735	4815882	0.014	0.07	33.2	0.25	16
101111	475834	4815689	0.003	0.06	25.6	0.3	20.5
101112	475833	4815780	0.009	0.19	81.8	3.52	40.2
101113	475828	4815495	0.019	0.28	135.5	0.67	16
101114	475828	4815391	0.011	0.07	135.5	0.76	17.8
101115	475828	4815290	0.011	0.13	80.6	0.78	20.2
101116	475929	4816192	0.003	0.08	34.2	0.32	23.8
101117	475934	4816096	0.002	0.03	9.3	0.19	23.5
101118	475934	4816096	0.001	0.03	9.1	0.18	22.1
101119	475929	4816293	0.001	0.09	27.7	0.29	23.1
101120	475931	4815989	0.002	0.04	11.5	0.12	12.8
101121	475937	4815889	0.0005	0.05	16.4	0.19	15.4
101122	475926	4815784	0.011	0.55	104.5	0.87	28.3
101123	475933	4815689	0.01	0.18	55.3	0.67	54.1
101124	475931	4815587	0.002	0.08	51.9	0.64	27.4
101125	475931	4815483	0.002	0.06	31.9	0.57	19.2
101126	475932	4815387	0.022	0.2	113.5	1.94	28.7
101127	475926	4815284	0.033	0.17	227	1.6	36.1
101128	475933	4815189	0.01	0.04	110.5	0.22	28.7
101129	476332	4816283	0.023	0.94	175.5	13.35	79.6
101130	476227	4816284	0.002	0.08	22.7	0.33	15.9
101131	476131	4816284	0.002	0.06	57.3	0.36	18.4
101132	476231	4816177	0.004	0.07	92.5	1.64	28.8
101133	476127	4816182	0.002	0.07	40.7	0.41	17
101134	476028	4815986	0.003	0.07	22.6	0.28	17.2
101135	476040	4815887	0.007	0.09	25.6	0.29	16.7
101136	476039	4816287	0.001	0.05	29.5	0.28	16.9
101137	476033	4816191	0.001	0.06	22.3	0.29	24
101138	476034	4816093	0.001	0.08	12.8	0.23	24.6
101139	476033	4815788	0.002	0.06	19.2	0.34	24.8
101140	476028	4815684	0.013	0.21	60.6	0.62	60.9
101141	476035	4815586	0.002	0.03	14.3	0.33	14
101142	476035	4815487	0.002	0.03	15.2	0.31	14.9
101143	476025	4815372	0.014	0.23	258	1.49	36.8
101144	476032	4815283	0.009	0.08	190	0.3	46.8
101145	476029	4815089	0.006	0.26	16.5	0.02	16.2
101146	476029	4815089	0.005	0.27	16.6	0.03	17
101147	476055	4815236	0.045	0.41	31.8	0.22	47.9
101148	476434	4815886	0.008	0.18	62.2	1.18	52.9
101149	476331	4815891	0.004	0.08	102.5	0.73	25.5
101150	476231	4815791	0.005	0.06	33.1	0.44	43.9

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Terra Balcanica Reports Massive Sulphide Mineralization in Initial Phase II Drillholes at Cumavici Ridge

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Terra Balcanica Appoints Business Development Officer

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2023 / Apr

Terra Balcanica Reports Massive Sulphide Mineralization in Initial Phase II Drillholes at Cumavici Ridge

Vancouver, British Columbia – April 18^th 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce, positive step-out drill hole observations at the high-grade, Cumavici Ridge polymetallic epithermal vein target within its principal Viogor-Zanik project in Bosnia and Herzegovina.

Highlights

Polymetallic epithermal mineralization has been intercepted in the first 4 step-out drillholes of the 2023 Phase II program at Cumavici Ridge (Figure 1);
A successful 42-m southeast step out with drill hole CMV23003 confirms the epithermal mineralization over 81 m strike length from previously reported CMVDD005 (Figure 2);
Drillhole CMV23003 intersected the thickest zone of massive colloform sphalerite observed at Cumavici Ridge to date (Figure 3);
Shallowest mineralization to date is reported with sulphides commencing at 7.1 m and 10.0 m in drill holes CMV23002b and CMV23001, respectively;
Macroscopic observations of mineral assemblages intercepted so far suggest that assays from the 2023 Phase II, Stage 1 drill program at Cumavici Ridge are expected to build on the high grades from maiden drilling.

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments:

We are off to an exceptional start with the Phase II drill program at Cumavici Ridge where all the initial four drill holes returned signs of massive sulphide mineralization, in some cases as shallow as 7 meters below surface. We will continue to maximize drilling meterage by drilling scissor holes to help define the local geometry of the mineralized structure. With another 40 m step out, this time to the southeast and additional two step-outs planned in the same direction, we are potentially looking at over 180 meters of silver-dominated mineralization along strike at this target area alone, while the real goal is to extend the mineralized footprint to the northwest where Terra believes the system will show its full potential over an estimated 650 meters strike length. We are drilling through the same type of mineralization as is currently mined in the Sase mine which we surround. This facility is at half of its mine life with all the infrastructure in place. We will release laboratory assays shortly.

The Company commenced its Phase II drilling program at Cumavici Ridge, the 2022 high-grade polymetallic discovery which returned up to 505 g/t Ag Eq. over 11 m, by extending the mineralized footprint by 39 m to the SE in drillhole CMV23001 (See Company news release dated 27th of February 2023). A second drillhole CMV23002b used the same pad location with a shallower drilling inclination, and repeated the successful intercept commencing from 19 m. A 34 m step out to the SW defines CMV23003 where the Cumavici Vein system was successfully intersected 43.9 m downhole. Drill hole CMV23004, drilled from the same pad at a shallower angle confirmed continuity of the vein system at a depth of 35.35 m.

Figure 1. Geological map illustrating the 2023 planned drilling locations at Cumavici Ridge and the completed drillholes CMV23001/002b and 003/004 which have increased strike length of the mineralization to 81 m relative to 2022 Phase I drilling campaign

Figure 2. Massive sulphide interval between 43.90-46.00 m downhole in CMV23003. 44.60-45.50 m hosts massive colloform banded orange-brown sphalerite and galena with intervals of hydrothermal brecciation, which grades downhole from an andesitic volcanic breccia which has been completely matrix replaced by a polymetallic sulphide assemblage

Figure 3. PQ3 diameter diamond drillhole CMV23003 illustrating intervals of colloform banded orange-brown sphalerite and galena, including sections of hydrothermal breccia and a sharp upper vein contact with the argillic altered andesitic tuffaceous breccia. Coarse grained sulphides are present between the colloform bands

Drill Core Observations

Drillhole CMV23001 reports the shallowest massive sulphide intercept to date with > 10 m of visible sulphides commencing at a depth of 10 m extending the mineralization footprint at Cumavici Ridge a further 39 m SE. Hanging wall disseminated sulphides grade into 2.75 m of intense quartz-sulphide veining within a silicified and strongly chlorite altered andesitic lapilli tuff including 0.7 m of semi-massive sphalerite-stibnite-galena-marcasite from 13.10 m depth and a 0.4 m zone of orange colloform banded sphalerite. Aggregates of sulphide extend to a depth of 21 m into the footwall, hosted by strongly argillic altered tuffaceous breccia and intervals of fault gouge. A second zone of mineralization in the footwall between 30.0-32.4 m depth hosts quartz-sulphide veining with a 0.3 m interval of sphalerite dominant semi-massive sulphide.

Drillhole CMV23002b was drilled from the same pad location, but with an inclination of – 50° intercepted two distinct intervals of polymetallic mineralization. Disseminated pyrite-sphalerite-stibnite between 7.10–11.30 m marks a near-surface splay of the main vein, which includes a 5 cm interval of colloform banded quartz-sphalerite. The main Cumavici vein structure commenced at 19.0 m downhole with quartz-sulphide veinlets grading into semi massive sphalerite-galena-stibnite between 22.90-25.80 m downhole, coarse-grained galena is observed between bands of orange colloform sphalerite. Aggregates of sulphide extend into the footwall up to 34 m.

Drillhole CMV23003 is located 34 m SW of drillholes CMV23001/002b was designed as a down dip step out and successfully intersected the Cumavici Ridge mineralization. From 39 m downhole aggregates and veinlets of stibnite-sphalerite are observed within a tuffaceous breccia. Between 43.80 – 44.50 m the matrix of a tuffaceous breccia has been completely replaced by quartz-stibnite-black sphalerite-galena which grades into 0.90 m of massive banded colloform and coarse-grained orange sphalerite and galena. Veining extends into the footwall to 47.90 m (Figures 1 and 2).

Drillhole CMV23004 was drilled from the same pad location as CMV23003, but with an inclination of – 50° reached the Cumavici vein system at 35.35 m with the introduction of pyrite stringers within the hanging wall andesitic tuff. 36.20-36.80 m is comprised of colloform banded sphalerite and galena adjacent to massive black sphalerite-stibnite-sulphosalts. Extending into the footwall are sulphide veinlets and quartz-sulphide veins extending the mineralized interval to 38.30 m grading into sulphide aggregates up to 40.0 m depth.

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
CMV23001	360221	4888494	716	-85	050	61.70	99
CMV23002b	360221	4888494	716	-50	050	56.20	99
CMV23003	360204	4888464	844	-85	050	56.80	100
CMV23004*	360204	4888464	844	-50	050	45.60	100

Table 1. Collar locations for reported Phase II drillholes from Cumavici Ridge. Coordinates and elevation were taken using Garmin GPS MAP 66sr instrument. A survey by a differential GPS instrument will be undertaken prior to release of assay results. *CMV23004 is still in progress. (WGS84/UTM Zone 34N).

Ongoing Exploration Program

Further drilling at the Cumavici Ridge target will systematically move SE utilising ~ 40 m collar step outs with similar arrangements of -85 and -50 inclination holes to characterize the shallowest extents of the mineralization. Stage 2 of this program will move to the NW along strike within the 650 m continuous magnetic low domain.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Commences Phase II Drilling at Viogor-Zanik Project in Bosnia and Announces Private Placement Financing

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Terra Balcanica Confirms Epithermal Gold and Porphyry Copper Targets at Ceovishte in Serbia and Closes First Tranche of Financing

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2023 / Apr

Terra Balcanica Commences Phase II Drilling at Viogor-Zanik Project in Bosnia and Announces Private Placement Financing

Vancouver, British Columbia – April 4^th 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce the start of the Phase II drill campaign at its primary Viogor-Zanik project in eastern Bosnia and Herzegovina by separately targeting high-grade, epithermal, vein hosted, silver dominated mineralization as well as a wide diameter, gold skarn/porphyry system, respectively (see Figure 1).

Phase II Drilling Program

At the Cumavici target, Terra will test the along strike and down dip continuity of the high grade polymetallic, intermediate sulfidation epithermal vein at Cumavici Ridge. Discovery of the Cumavici Ridge mineralization in 2022 confirmed Terra’s exploration model. Vein-hosted polymetallic sulphides occupy a 7.2 km long, NW-SE oriented, magnetic low lineament, identified in Terra’s 2021 airborne SkyTEM survey. The 2023 drilling efforts will follow this structure continually over 650 m strike length. The far NW reaches of the structure are de-risked by note of massive sulfide mineralization in the Yugoslav era drillholes (see Figure 2).

Figure 1. Terra’s 216 km² Viogor-Zanik project with the epithermal vein hosted Cumavici corridor and the Brezani gold skarn/porphyry system as the primary Phase II drill targets.

In addition to the Cumavici high-grade, silver dominated epithermal system, Terra intends to continue testing the 1.2 km wide gold skarn/conductivity target interpreted to represent a porphyry system at 450 m depth at the locality of Brezani.

Figure 2. Projected Phase II drill fences at the Cumavici Ridge target along 650 m of the epithermal vein strike length

The 2022 Phase I drilling terminated within the gold mineralization mostly represented by electrically resistive hornfels and skarn lithologies.

Phase I drilling at Brezani discovered a significant gold system, with mineralization present within both calc-silicate and intrusive lithologies from surface. Drillhole BREDD002 tested a resistive body of rock, which overlies a > 600 m wide conductor, reaching > 60 mS/m at depth, coincident with magnetic anomalism. This conductor indicates a stark difference in rock properties and Terra interprets this as an increase in sulphide content/connectivity representing a proximal Au-Cu skarn or sulphide rich porphyry system. Terra intends to test this coincident magnetic-electromagnetic anomaly at depth and step-out within the >1 km2 geochemical anomaly (see Figure 3).

Figure 3. Projected Phase II drill pad locations at the 1.2 km wide Au skarn/porphyry Brezani target

For Terra’s previously released drilling highlights at the Viogor-Zanik project see the Company news releases from September 8th and October 22nd of 2022, and January 24th, February 2nd, and February 27th of 2023, or refer to our webpage https://terrabresources.com/en/news/

Private Placement Financing

The Company also announces the intent to complete a non-brokered private placement (the “Private Placement”) for gross proceeds of up to C$1,000,000 through the issuance of 11,764,706 units (each a “Unit”) at a purchase price of C$0.085 per Unit. Each Unit will be comprised of one common share in the capital of the Company ( “Common Share”) and one Common Share purchase warrant (“Warrant”) to purchase an additional one common share of the Company (“Warrant Share”) at an exercise price of C$0.13 per Warrant Share for a period of 36 months from the closing date of the Private Placement (the “Closing Date”).

The Common Shares will be offered by way of prospectus exemptions in Canada and the Common Shares sold in the Private Placement will be subject to a hold period of four months plus one day. The Closing Date is expected to occur on or before May 16th, 2023, subject to regulatory approvals, including the approval of the CSE and certain other customary conditions including, but not limited to, execution of subscription agreements between the Company and the subscribers. In certain circumstances, the Company may pay finder’s fee in cash on a portion of the Private Placement. The Private Placement will provide Terra with the necessary capital to continue drilling the Company’s portfolio of mineral exploration properties in the western Balkans.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Intersects 505 g/t AgEq Over 11.0 m Including 3,075 g/t AgEq (108.5 oz/t AgEq) Over 1.7 m at Viogor-Zanik in Bosnia

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Terra Balcanica Reports Massive Sulphide Mineralization in Initial Phase II Drillholes at Cumavici Ridge

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2023 / Feb

Terra Balcanica Intersects 505 g/t AgEq Over 11.0 m Including 3,075 g/t AgEq (108.5 oz/t AgEq) Over 1.7 m at Viogor-Zanik in Bosnia

Vancouver, British Columbia – February 27^th 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce further, high-grade drill results including step-out drillholes at Cumavici Ridge and a new discovery at the Josheva target extending mineralization at the Cumavici Corridor over 2.3 km to the southeast within its flagship, 216 km² Viogor-Zanik project in Bosnia and Herzegovina.

Highlights

Highest Grades Intercepted To Date: Drillhole CMVDD004 returned 505.3 g/t AgEq over 11.0 m from 43.0 m depth including 3075.4 g/t AgEq (108.5 oz/t AgEq) over 1.7 m (see Figure 1) 40 m northeast of CMVDD005 and over 50 m northwest from the drill fence that included CMVDD001, CMVDD002, and CMVDD003;
New Discovery at Josheva over 2.3 km southeast of Cumavici Ridge: Drillhole JOSDD001 drilled over 2.3 km southeast of Cumavici Ridge discovered a new mineralized structure yielding 119.7 g/t AgEq over 6.0 m from 53.0 m depth (see Figure 2). The discovery drillhole at Josheva validates the district geologic model and confirms the potential for several other segments of polymetallic veins within the expansive 7.2 km strike Cumavici corridor. The entire corridor remains open for further drill testing.
Five shallow, high grade intercepts: Cumavici Ridge has displayed consistency by the initial drilling with five holes intercepting shallow, high-grade polymetallic mineralization (see Figure 3), including:
- CMVDD001: 824.2 g/t AgEq. over 4.0 m including 1634.4 g/t AgEq. over 2.0 m;
- CMVDD002: 816.1 g/t AgEq. over 2.0 m;
- CMVDD003: 465.5 g/t AgEq. over 8.7 m including 1196.6 g/t AgEq. over 2.0 m;
- CMVDD005: 284.0 g/t AgEq over 10.0 m including 895.8 g/t AgEq over 2.0m.
Extending High Grade Footprint With Step-Out Drilling: assay results from CMVDD001 to CMVDD005 confirm consistent high-grade mineralization over a footprint approximately 60 by 100 meters at Cumavici Ridge. (see Figure 4). Further drilling will focus on expanding strike length to the northwest along 650 m of strike length and confirm down-dip continuity to southwest. The system remains open in all directions.

Cumavici – 3D Animation

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented:

We are very pleased with the world class intercepts that the Cumavici Ridge system keeps on delivering. The stage is now set for the Phase II drill program of this shallow polymetallic vein that will aim to add onto these exceptional grades. Most exciting is that the highest metal concentrations have come from the northwesterly segment of the system which is the direction where we intend to extend our drill fence in 2023. Also encouraging are the positive Josheva target intercepts located 2.3 km southwest of Cumavici Ridge as a testament to the widespread mineralization along the epithermal corridor. We have numerous, high-grade targets to further test with infill and step out drilling.

Assay results

Drillhole	From (m)	To (m)	Length (m)	Ag (g/t)	Au (g/t)	Pb (%)	Sb (%)	Zn (%)	AgEq* (g/t)
CMVDD004	43.0	54.0	11.0	225	0.3	0.56	1.48	0.83	505.3
including	44.8	46.5	1.7	1420	0.81	3.42	9.40	4.95	3075.4
JOSDD001	53.0	59.0	6.0	11	0.06	0.68	–	1.66	119.7
JOSDD002	3.0	32.0	2.0	–	0.66	0.03	0.01	0.19	–

Table 1. Assay results of key mineralized intervals from Cumavici drillholes. Interval lengths reported are drilled lengths, not true widths. Silver equivalents (“AgEq”) are based on assumed metal prices of US$1950/oz for gold (Au), US$18.00/oz for silver (Ag), US$1.00/lb for lead (Pb), US$4.50/lb for antimony (Sb) and US$1.50/lb for zinc (Zn). *Assumed metal recoveries of 90% Au, 93% Ag, 94% Pb and Zn, 90% Sb are based on published metallurgical tests for analogous Balkan epithermal deposits. For CMVDD001-003 and CMVD005, see the Company news releases from Sept. 8th, Oct. 22^nd, 2022, and Feb. 2^nd, 2023.

Figure 1. Section B-B’ from Figure 3 (below) along drillhole fence CMVDD004-005. CMVDD004 intersected 11 m of mineralization at 43 m depth, illustrating grade continuity to near surface from CMVDD005 which intersected 10 m at 284 g/t AgEq at 81 m. The vein system remains open down dip.

Figure 2. Phase I drilling at Cumavici Ridge and the SE extension at the Josheva target. The 7.2 km long Cumavici Corridor extends well beyond Cumavici Ridge to NW.

Figure 3. Phase I drillholes at Cumavici Ridge. Drillholes CMVDD004 and CMVDD005 are NW step-outs from the initial drill fence (CMVDD001-003); the system is open along strike.

Figure 4. Fence diagram of drilling completed at the Cumavici Ridge target including drillholes CMVDD001 to CMVDD005. Polymetallic mineralization intervals are highlighted in red. The mineralization remains untested and open down dip to the southwest and entirely open to the NW. The high-grade mineralization footprint currently sits at approximately 60 (strike length) by 100 meters (down dip direction).

Drill Results Summary

Drillhole CMVDD004 targeted the strike extension of this shallow mineralization with a 39 m NW collar step-out from CMVDD002. Assay results confirm the structure remains mineralized at shallow levels in the north-western direction. Mineralization consists of a main massive sulphide interval with quartz-sulphide veining in the hanging and footwall of the structure. Massive sulphide intervals are characterized by colloform-crustiform sphalerite-galena-stibnite-sulphosalts. A narrow envelope of silicification is observed around the vein intercept with volcaniclastics showing variable chloritization and argillic alteration.

Drillhole JOSDD001 targeted a mineralized structure 2.3 km southeast of the Cumavici Ridge discovery drillholes. It successfully intersected a mineralized structure returning 119.7 g/t AgEq over 6.0 m from 53.0 m depth. Mineralization encountered is characterized by veinlets, disseminations, and aggregates of sphalerite-galena-pyrite within argillic altered andesitic tuffs. Sulphides are associated with calcite and present in intervals of fault gouge.

Drillhole JOSDD002, located 155 m NW of JOSDD001, tested the same structure with a significant step out. Several mineralized structures were intersected, with disseminated sulphides in fault gouge and calcite. At 31 m depth a quartz-arsenopyrite cemented hydrothermal breccia returned 1 m at 1.1 g/t Au and 0.3 % Zn within a 2 m mineralized intercept yielding 0.66 g/t Au.

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
CMVDD004	360174	4888539	611	-85	045	77.7	87.3
CMVDD005	360141	4888516	621	-85	050	99.0	94.4
CMVDD006	360195	4888403	611	-68	052	154.6	93.7
CMVDD007	360389	4888084	485	-45	048	175.4	97.7
CMVDD008	360361	4888323	522	-85	045	78.0	95.0
CMVDD009	360347	4888299	520	-85	035	91.1	99
JOSDD001	361639	4886792	386	-52	034	108.8	96.7
JOSDD002	361516	4886889	383	-52	034	111.8	99.3

Table 2. Drillhole collar survey information for the reported Cumavici Ridge and Josheva drillholes (WGS84/UTM Zone 34N). See the complete list of assays at the end of the news release.

Further exploration drilling: Further drilling will systematically test the high-grade Cumavici vein along strike to the NW/SE and down-dip SW where the mineralization is open and untested. The Cumavici Ridge target lies within a local magnetic low, which is continuous for > 500 m strike length. The Company interprets the well-developed magnetic low lineament to represent the structure hosting the Cumavici Ridge polymetallic mineralization, offering a robust target for expansion of mineralization. Due to the shallow nature of this high-grade system, drilling can quickly define strike length utilizing a 40 m regular step out. Mineralization is interpreted to be dipping shallowly to the SW, which allows for down-dip testing with modest meterage requirements. This will be a priority of the 2023 drilling campaign.

Target generation is ongoing by utilizing the geological knowledge gained in the 2022 drilling campaign to unlock the potential of the 7.2 km strike length Cumavici corridor. Understanding of the geochemical and geophysical signature of this high-grade system, and confirmation of the exploration strategy through definition of yet another mineralized structure at Josheva gives the Company confidence in the underexplored nature of the Cumavici corridor. Surface expressions of mineralized structures have been observed at several localities, namely Cumurnica and Seoce where soil geochemistry shows NW/SE trending anomalous Ag-Pb-Zn. Zones of fault gouge with disseminated sphalerite and galena are observed on surface which can be tied to low magnetic lineaments, offering targets for future drilling. The Cumavici corridor remains largely untested, and the Company firmly believes there is opportunity for discovery of the Cumavici Ridge style mineralization along the entire 7.2 km strike length.

QA/QC

Composite, half a drill core (PQ3 and HQ3) samples were delivered by truck to ALS Bor, Serbia for sample preparation and analysis at the ALS laboratory Loughrea, Ireland an ISO/IEC 17025:2017 certified testing laboratory. Sample preparation PREP-31BY method was used on all core samples. This involves crushing to 70% less than 2 mm, rotary split 1kg and pulverizing the split to greater than 85% passing 75 microns. Gold was assayed by 30g fire assay with ICP-AES finish (Au-ICP21). Analyses of silver and base metals were completed by highly oxidising digestion with HNO3, KClO3 and HBr (ASY-ORE) and the final solution in dilute aqua regia is determined by ICP-AES (ME-ICPORE). Control samples, comprising certified reference materials (CDN-ME-1811), quarter core field duplicates and blanks were inserted at a rate of 5% and investigated as part of the company’s quality assurance and quality control program.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Hole ID	Sample ID	From (m)	To (m)	Au (ppm)	Ag (ppm)	Pb (%)	Sb (%)	Zn (%)
CMVDD004	105214	40.0	41.0	0.001	<1	0.006	<0.005	0.021
CMVDD004	105215	41.0	42.0	0.002	<1	<0.005	<0.005	0.014
CMVDD004	105216	42.0	43.0	0.007	<1	0.011	<0.005	0.044
CMVDD004	105217	43.0	44.0	0.007	1	0.017	<0.005	0.053
CMVDD004	105218	44.0	44.8	0.1	1	0.026	0.009	0.161
CMVDD004	105219	44.8	46.5	0.812	1420	3.42	9.35	4.95
CMVDD004	105220	46.5	47.0	1.65	43	0.267	0.447	0.309
CMVDD004	105221	47.0	48.0	0.249	13	0.07	0.064	0.129
CMVDD004	105222	48.0	49.0	0.147	4	0.017	0.016	0.06
CMVDD004	105223	49.0	50.0	0.171	4	<0.005	0.008	0.031
CMVDD004	105224	50.0	51.0	0.277	8	0.025	0.017	0.051
CMVDD004	105225	51.0	52.0	0.012	1	0.005	<0.005	0.056
CMVDD004	105226	52.0	53.3	0.077	2	0.008	0.007	0.02
CMVDD004	105227	53.3	54.0	0.06	4	0.087	0.013	0.091
CMVDD004	105228	54.0	55.0	0.003	<1	0.022	<0.005	0.079
CMVDD004	105229	55.0	56.0	0.003	<1	0.018	0.006	0.05
CMVDD004	105230	56.0	57.0	0.003	1	0.018	0.008	0.073
CMVDD004	105231	57.0	58.0	0.012	4	0.021	0.062	0.082
CMVDD004	105232	57.0	58.0	0.014	2	0.02	0.046	0.08
CMVDD004	105233	58.0	59.0	0.002	<1	0.104	0.009	0.108
CMVDD004	105234	59.0	60.0	0.002	<1	0.058	<0.005	0.083
CMVDD004	105235	60.0	61.0	0.002	<1	0.012	<0.005	0.048
CMVDD004	105236	61.0	62.0	0.005	<1	0.008	<0.005	0.023
CMVDD004	105237	62.0	63.0	0.001	<1	<0.005	<0.005	0.014
CMVDD004	105238	63.0	64.0	0.002	<1	<0.005	<0.005	0.016
CMVDD004	105239	64.0	65.0	0.002	<1	<0.005	<0.005	0.016
CMVDD004	105240	65.0	66.0	0.003	<1	0.01	<0.005	0.036
CMVDD004	105241	66.0	67.5	0.002	<1	0.007	<0.005	0.022
CMVDD004	105242	67.5	69.0	0.01	1	0.007	<0.005	0.021
CMVDD004	105243	69.0	70.5	0.002	<1	0.03	<0.005	0.07
CMVDD004	105244	70.5	71.5	0.017	2	0.069	0.012	0.102
CMVDD004	105245	71.5	72.9	0.03	<1	0.017	<0.005	0.057
CMVDD007	105054	91	92	<0.001	<1	<0.005	<0.005	0.007
CMVDD007	105055	92	93	<0.001	<1	<0.005	<0.005	0.006
CMVDD007	105056	93	94	<0.001	<1	<0.005	<0.005	0.008
CMVDD007	105057	94	95	<0.001	<1	<0.005	<0.005	0.007
CMVDD007	105058	95	96	<0.001	<1	<0.005	<0.005	0.007
CMVDD007	105059	96	97	<0.001	<1	<0.005	<0.005	0.008
CMVDD007	105060	97	98	<0.001	<1	<0.005	<0.005	0.008
CMVDD007	105061	98	99	<0.001	<1	<0.005	<0.005	0.008
CMVDD007	105062	99	100	<0.001	<1	<0.005	<0.005	0.009
CMVDD007	105063	100	101	<0.001	<1	<0.005	<0.005	0.008
CMVDD007	105064	101	102	<0.001	<1	<0.005	<0.005	0.009
CMVDD007	105065	102	103	<0.001	<1	<0.005	<0.005	0.015
CMVDD007	105066	103	104	<0.001	<1	<0.005	<0.005	0.012
CMVDD007	105067	104	105	<0.001	<1	<0.005	<0.005	0.01
CMVDD007	105068	105	106	<0.001	<1	0.006	<0.005	0.022
CMVDD007	105069	106	107	0.002	<1	0.005	<0.005	0.02
CMVDD007	105070	106	107	0.002	<1	0.008	<0.005	0.017
CMVDD007	105071	107	108	0.006	<1	0.007	<0.005	0.041
CMVDD007	105072	108	109	0.001	<1	0.022	<0.005	0.088
CMVDD007	105073	109	110	0.032	9	0.641	0.027	1.79
CMVDD007	105074	110	111	<0.001	<1	0.017	<0.005	0.062
CMVDD007	105075	111	112	<0.001	<1	0.043	<0.005	0.116
CMVDD007	105076	112	113	<0.001	<1	0.01	<0.005	0.028
CMVDD007	105077	113	114	<0.001	<1	<0.005	<0.005	0.011
CMVDD007	105078	114	115	<0.001	1	0.016	<0.005	0.048
CMVDD007	105079	153	154	<0.001	<1	0.012	<0.005	0.072
CMVDD007	105080	154	155	<0.001	1	0.017	<0.005	0.084
CMVDD007	105081	155	156	<0.001	<1	0.006	<0.005	0.019
CMVDD007	105082	156	157	<0.001	<1	<0.005	<0.005	0.014
CMVDD007	105083	157	158	<0.001	<1	<0.005	<0.005	0.011
CMVDD007	105084	158	159	<0.001	<1	<0.005	<0.005	0.01
CMVDD007	105085	159	160	<0.001	<1	<0.005	<0.005	0.015
CMVDD007	105086	160	161	<0.001	<1	<0.005	<0.005	0.022
CMVDD007	105087	161	162	<0.001	<1	0.006	<0.005	0.025
CMVDD007	105088	162	163	<0.001	<1	0.008	<0.005	0.037
CMVDD007	105089	163	164	<0.001	<1	0.005	<0.005	0.029
CMVDD008	105279	18.0	19.0	0.003	<1	<0.005	<0.005	0.005
CMVDD008	105280	19.0	20.0	0.005	<1	0.005	<0.005	0.005
CMVDD008	105281	20.0	21.0	0.005	<1	<0.005	<0.005	0.008
CMVDD008	105282	21.0	22.0	0.001	<1	<0.005	<0.005	0.011
CMVDD008	105283	22.0	23.0	0.002	<1	0.069	<0.005	0.08
CMVDD008	105284	23.0	24.0	0.003	<1	0.011	<0.005	0.028
CMVDD008	105285	24.0	25.0	0.002	<1	0.006	<0.005	0.01
CMVDD008	105286	25.0	26.0	0.004	2	0.005	<0.005	0.007
CMVDD008	105287	26.0	27.0	0.001	<1	<0.005	<0.005	0.006
CMVDD008	105288	27.0	28.0	0.001	1	<0.005	<0.005	0.013
CMVDD008	105289	28.0	29.0	0.002	<1	0.005	0.006	0.02
CMVDD008	105290	28.0	29.0	<0.001	1	<0.005	<0.005	0.018
CMVDD008	105291	29.0	30.0	0.002	1	0.005	<0.005	0.018
CMVDD008	105292	30.0	31.0	0.004	2	0.04	<0.005	0.116
CMVDD008	105293	31.0	32.0	0.004	2	0.108	<0.005	0.21
CMVDD008	105294	32.0	33.0	0.005	1	0.009	0.008	0.101
CMVDD008	105295	33.0	34.0	0.002	<1	<0.005	<0.005	0.013
CMVDD009	105296	56.5	57.5	0.001	<1	0.007	<0.005	0.026
CMVDD009	105297	57.5	58.5	0.002	<1	0.024	<0.005	0.072
CMVDD009	105298	58.5	59.5	0.011	4	0.326	<0.005	1.03
CMVDD009	105299	59.5	60.5	0.005	1	0.084	0.009	0.181
CMVDD009	105300	60.5	61.5	0.008	1	0.121	0.006	0.152
CMVDD009	105301	61.5	62.5	0.002	<1	0.0025	<0.005	0.007
JOSDD001	105302	4.3	5.3	0.028	1	0.066	<0.005	0.413
JOSDD001	105303	5.3	6.3	0.001	<1	<0.005	<0.005	0.009
JOSDD001	105304	6.3	7.3	0.001	<1	0.005	<0.005	0.009
JOSDD001	105305	49	50	<0.001	<1	<0.005	<0.005	0.006
JOSDD001	105306	50	51	0.001	<1	<0.005	0.005	0.007
JOSDD001	105307	51	52	0.003	1	0.005	0.007	0.008
JOSDD001	105308	52	53	0.022	<1	0.018	<0.005	0.022
JOSDD001	105309	53	54	0.076	6	0.458	<0.005	1.34
JOSDD001	105310	54	55	0.014	4	0.131	0.011	0.413
JOSDD001	105311	55	56	0.101	16	0.87	0.005	3.5
JOSDD001	105312	56	57	0.017	3	0.16	0.006	0.755
JOSDD001	105313	57	58	0.015	3	0.066	<0.005	0.93
JOSDD001	105314	58	59	0.119	35	2.38	0.009	3.03
JOSDD001	105315	59	60	<0.001	1	0.019	<0.005	0.052
JOSDD001	105316	60	61	0.006	<1	0.011	<0.005	0.021
JOSDD001	105317	61	62	0.016	<1	0.007	<0.005	0.011
JOSDD001	105318	62	63	0.002	<1	0.005	<0.005	0.005
JOSDD001	105319	62	63	0.003	<1	<0.005	<0.005	0.006
JOSDD001	105320	63	64	0.003	<1	0.024	<0.005	0.038
JOSDD001	105321	64	65	0.013	2	0.25	<0.005	0.597
JOSDD001	105322	65	66	0.005	2	0.056	<0.005	0.162
JOSDD001	105324	66	67	<0.001	<1	0.005	<0.005	0.01
JOSDD001	105325	67	68	0.001	<1	0.007	<0.005	0.01
JOSDD001	105326	68	69	<0.001	<1	0.025	<0.005	0.062
JOSDD001	105327	69	70	<0.001	1	0.062	<0.005	0.83
JOSDD001	105328	70	71	0.001	2	0.117	<0.005	1.885
JOSDD001	105329	71	72	<0.001	<1	0.012	<0.005	0.264
JOSDD001	105330	72	73	<0.001	<1	<0.005	<0.005	0.008
JOSDD002	105331	4	5	0.006	<1	<0.005	<0.005	0.012
JOSDD002	105332	5	6	0.106	1	<0.005	<0.005	0.009
JOSDD002	105333	6	7	<0.001	<1	<0.005	<0.005	0.008
JOSDD002	105334	19	20	0.004	<1	0.012	<0.005	0.009
JOSDD002	105335	20	21	0.065	<1	0.013	<0.005	0.015
JOSDD002	105336	21	22	0.011	<1	<0.005	<0.005	0.008
JOSDD002	105337	22	23	0.006	2	<0.005	<0.005	0.009
JOSDD002	105338	23	24	0.002	<1	<0.005	<0.005	0.008
JOSDD002	105339	24	25	<0.001	<1	<0.005	<0.005	0.008
JOSDD002	105340	25	26	<0.001	<1	<0.005	<0.005	0.009
JOSDD002	105341	26	27	<0.001	<1	<0.005	<0.005	0.008
JOSDD002	105342	27	28	0.001	<1	<0.005	<0.005	0.008
JOSDD002	105343	28	29	0.003	2	0.012	<0.005	0.027
JOSDD002	105344	29	30	0.05	<1	0.007	<0.005	0.013
JOSDD002	105345	30	31	0.202	<1	0.035	0.005	0.08
JOSDD002	105346	31	32	1.115	<1	0.024	0.011	0.292
JOSDD002	105347	32	33	0.001	<1	0.006	<0.005	0.008
JOSDD002	105348	47	48	0.003	<1	<0.005	0.006	0.008
JOSDD002	105349	48	49	0.003	1	0.007	0.006	0.023
JOSDD002	105350	49	50	0.004	<1	<0.005	<0.005	0.013
JOSDD002	105351	50	51	0.004	<1	<0.005	<0.005	0.009
JOSDD002	105352	50	51	0.004	<1	<0.005	<0.005	0.009
JOSDD002	105353	51	52	0.181	<1	0.027	<0.005	0.048
JOSDD002	105354	52	53	0.007	<1	0.028	<0.005	0.025
JOSDD002	105355	53	54	0.006	<1	0.018	<0.005	0.021
JOSDD002	105356	54	55	0.001	<1	<0.005	<0.005	0.005
JOSDD002	105357	55	56	0.001	<1	<0.005	<0.005	0.005
JOSDD002	105358	56	57	0.004	<1	<0.005	<0.005	0.004
JOSDD002	105359	57	58	0.001	<1	<0.005	<0.005	0.003
JOSDD002	105360	58	59	<0.001	<1	<0.005	<0.005	0.004
JOSDD002	105361	59	60	0.003	<1	0.034	<0.005	0.038
JOSDD002	105362	60	61	<0.001	<1	0.006	<0.005	0.01
JOSDD002	105363	61	62	<0.001	1	0.011	<0.005	0.009
JOSDD002	105364	62	63	0.001	1	<0.005	<0.005	0.002
JOSDD002	105365	63	64	<0.001	<1	<0.005	<0.005	0.002
JOSDD002	105366	64	65	<0.001	<1	0.01	<0.005	0.012
JOSDD002	105367	65	66	0.003	1	0.083	<0.005	0.272
JOSDD002	105368	66	67	0.002	1	0.095	<0.005	0.228
JOSDD002	105369	67	68	0.004	2	0.113	<0.005	0.295
JOSDD002	105370	68	69	0.013	2	0.18	<0.005	0.32
JOSDD002	105371	69	70	0.006	1	0.039	<0.005	0.106
JOSDD002	105372	70	71	0.065	0.5	0.006	<0.005	0.01
JOSDD002	105373	71	72	<0.001	<1	<0.005	<0.005	0.006
JOSDD002	105374	72	73	0.002	1	<0.005	<0.005	0.004
JOSDD002	105375	73	74	0.001	<1	0.007	<0.005	0.013
JOSDD002	105376	74	75	<0.001	<1	0.038	<0.005	0.084
JOSDD002	105377	75	76	0.004	<1	0.039	<0.005	0.094
JOSDD002	105378	76	77	0.03	1	0.089	<0.005	0.227
JOSDD002	105379	77	78	0.018	8	0.589	<0.005	0.983
JOSDD002	105380	78	79	0.004	2	0.053	<0.005	0.125
JOSDD002	105381	78	79	0.003	<1	0.05	<0.005	0.119
JOSDD002	105382	79	80	0.007	<1	0.072	0.005	0.112
JOSDD002	105383	80	81	0.064	<1	0.053	0.006	0.081
JOSDD002	105384	81	82	0.023	<1	0.032	0.008	0.051
JOSDD002	105385	82	83	0.019	<1	0.025	0.005	0.02
JOSDD002	105386	83	84	<0.001	<1	<0.005	<0.005	0.015
JOSDD002	105387	84	85	<0.001	<1	<0.005	<0.005	0.011
JOSDD002	105388	85	86	<0.001	<1	<0.005	<0.005	0.01
JOSDD002	105389	86	87	<0.001	<1	<0.005	<0.005	0.013
JOSDD002	105390	87	88	<0.001	<1	<0.005	<0.005	0.01
JOSDD002	105391	88	89	0.001	<1	<0.005	<0.005	0.008
JOSDD002	105392	89	90	<0.001	<1	<0.005	<0.005	0.01
JOSDD002	105393	90	91	<0.001	<1	<0.005	<0.005	0.009
JOSDD002	105394	91	92	<0.001	<1	<0.005	<0.005	0.009
JOSDD002	105395	92	93	0.013	<1	<0.005	<0.005	0.01
JOSDD002	105396	93	94	<0.001	<1	<0.005	<0.005	0.008
JOSDD002	105398	94	95	0.002	<1	<0.005	<0.005	0.01
JOSDD002	105399	95	96	<0.001	<1	<0.005	<0.005	0.009
JOSDD002	105400	96	97	<0.001	<1	<0.005	<0.005	0.008
JOSDD002	105401	97	98	<0.001	<1	<0.005	<0.005	0.009
JOSDD002	105402	98	99	<0.001	<1	<0.005	<0.005	0.008
JOSDD002	105403	99	100	<0.001	<1	<0.005	<0.005	0.009
JOSDD002	105404	100	101	<0.001	<1	<0.005	<0.005	0.009
JOSDD002	105405	101	102	<0.001	<1	<0.005	<0.005	0.007

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Terra Balcanica Intersects 284 g/t AgEq Over 10 m Including 895 g/t AgEq Over 2 m at Viogor-Zanik Project in Bosnia

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Terra Balcanica Commences Phase II Drilling at Viogor-Zanik Project in Bosnia and Announces Private Placement Financing

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2023 / Feb

Terra Balcanica Intersects 284 g/t AgEq Over 10 m Including 895 g/t AgEq Over 2 m at Viogor-Zanik Project in Bosnia

Vancouver, British Columbia – February 2^nd 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA; FRA:UB1) is pleased to announce additional, positive step-out drill results at the high-grade polymetallic Cumavici Ridge epithermal target within its flagship, 216 km2 Viogor-Zanik project, Bosnia and Herzegovina.

Highlights

High grade +50 m step out: Drillhole CMVDD005 returned 284 g/t AgEq over 10.0 m including 895.8 g/t AgEq over 2.0 m (see Figure 3) approximately 50 m west-northwest of CMVDD002;
Previously released intercepts at the Cumavici target returned similar high grades:
- CMVDD001: 824.2 g/t AgEq. over 4.0 m including 1634.4 g/t AgEq. over 2.0 m;
- CMVDD002: 816.1 g/t AgEq. over 2.0 m;
- CMVDD003: 465.5 g/t AgEq. over 8.7 m including 1196.6 g/t AgEq. over 2.0 m (see Company news releases from September 8^th and October 22^nd, 2022);
CMVDD004, located 40 m northeast of CMVDD005, intersected 11 m of visible sulphide mineralization with assays to be released shortly (see Figures 2 and 3);
Exploration upside: CMVDD005 confirms consistent high grade, polymetallic mineralization at Cumavici Ridge. The mineralization is entirely open to the NW and down-dip to the SW. High-grade results confirm the Cumavici corridor as a shallow, polymetallic epithermal discovery with significant potential for expansion.

Terra Balcanica CEO, Dr. Aleksandar Mišković, commented:

Another Terra Balcanica drill step out at Cumavici Ridge and another significant, high grade intercept. The epithermal vein system discovered along the Cumavici corridor is now starting to take concrete shape and size in Terra’s geological model with a potential for considerable expansions along both the NW-SE strike and downdip towards SW. The vein hosted mineralization we see in Cumavici Ridge drill core very much corresponds to high grade, massive sulphides that are observed in the neighbouring Sase Mine, operated by Mineco Ltd., which the Viogor-Zanik project surrounds. This suggests that the Cumavici discovery is its westerly epithermal projection along a 7.2 km long, structurally controlled lineament. What particularly excites us is the shallow nature of the system where semi-massive, high grade sulphides are rarely found below 80 m depth and frequently as shallow as 35 m depth. This will facilitate a rapid advancement of our Phase II drill program planned for this year aiming to further define the grade, size and geometry of this tabular, silver dominated system along several target areas identified at and near Cumavici Ridge. We are equally excited to quickly advance the other two Viogor-Zanik project target zones, namely: the new Brezani skarn discovery and the Olovine porphyry prospect, each of which is characterized by extensive alteration, geophysical and surface mineralization footprints. The Company will report further, 2022 Phase I Cumavici Ridge drill core assays over the coming weeks.

Assay results

Drillhole	From (m)	To (m)	Length (m)	Ag (g/t)	Au (g/t)	Pb (%)	Sb (%)	Zn (%)	AgEq* (g/t)
CMVDD005	33.0	36.0	3.0	39	0.21	0.05	1.44	0.27	273.8
including	81.0	91.0	10.0	75	0.78	0.40	0.68	0.61	284.0
including	86.0	88.0	2.0	258	2.85	1.42	1.70	1.89	895.8
CMVDD001	29.0	33.0	4.0	132	0.84	2.12	1.85	4.59	824.2
including	30.0	32.0	2.0	261	1.62	4.20	3.70	9.10	1634.4
CMVDD002	45.0	47.0	2.0	144	0.23	4.27	0.44	8.26	816.1
CMVDD003	89.0	97.7	8.7	105	0.81	0.70	1.20	1.17	465.5
including	91.0	93.0	2.0	289	1.16	2.03	3.50	3.16	1196.6

Table 1. Assay results of key mineralized intervals from Cumavici Ridge drillholes. Interval lengths reported are drilled lengths, not true widths. Silver equivalents (“AgEq”) are based on assumed metal prices of US$1950/oz for gold (Au), US$18.00/oz for silver (Ag), US$1.00/lb for lead (Pb), US$4.50/lb for antimony (Sb) and US$1.50/lb for zinc (Zn). *Assumed metal recoveries of 90% Au, 93% Ag, 94% Pb and Zn, 90% Sb are based on published metallurgical tests for analogous Oligo-Miocene, epithermal deposits in the Balkans (CMVDD001-003; see the Company news releases from September 8^th and October 22^nd, 2022). Values are rounded to nearest hundredth except Ag which is rounded to the nearest whole number.

Figure 1. The 216 km² Viogor-Zanik project in eastern Bosnia and Herzegovina with the key drill target areas and their associated styles of mineralization: (i) the vein hosted epithermal Cumavici corridor, (ii) the Olovine porphyry target and (iii) the Brezani gold skarn/porphyry system.

Figure 2. Geological map of Phase I drillholes at Cumavici Ridge. Drillholes CMVDD004 and CMVDD005 are NW step-outs from the initial drill fence which intersected Ag-Zn-Pb mineralization

Drillhole CMVDD005 targeted the down-dip extension of the lateral step out confirmed by CMVDD004 with a 40 m collar location step out to the west-southwest. CMVDD005 intercepted 2 mineralized intervals, evidencing the branching nature of the main Cumavici vein including 285 g/t AgEq over 10 m from 81 m. Mineralization consists of massive sulphide veins and breccias cemented by quartz, calcite, sphalerite, galena, and stibnite.

Drillhole CMVDD006 successfully intercepted a continuation of the mineralized Cumavici structure 125 m to the SE from CMVDD005. Mineralization was disseminated, in broad zones of fault gouge and breccia indicating a pinching and swelling nature to the massive sulphide zones. An association of sulphides and brecciated calcite within the clay gouge is noted, possibly due to precipitation of the mineralization during active fault movement.

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
CMVDD005	360141	4888516	621	-85	050	99.0	94.4
CMVDD006	360195	4888403	611	-68	052	154.6	93.7

Table 2. Drillhole collar survey information for the reported Cumavici drillholes (WGS84/UTM Zone 34N).

Figure 3. Section of drillholes CMVDD004 and 005. CMVDD005 reporting two mineralized intervals at 33 m and 81 m. Assays are pending for CMVDD004 which intersected 11 m of visible sulphides (see Company news release from January 11th, 2023). Mineralization is open down-dip to the southwest

Further drilling: Assay results from CMVDD004, which intersected 11 m of visible sulphide mineralization from 43 m depth will be released shortly. Other assays to be released include drill testing of the Joseva target, which is 2.3 km to the SE of Cumavici Ridge. The 2023 drill program will systematically test the high-grade Cumavici vein along strike to the NW/SE and down-dip SW where the mineralization is open and untested.

QA/QC

Half core (PQ3 and HQ3) samples were delivered by truck to ALS Bor, Serbia for sample preparation and analysis at the ALS laboratory Loughrea, Ireland an ISO/IEC 17025:2017 certified testing laboratory. Sample preparation PREP-31BY method was used on all core samples. This involves crushing to 70% less than 2 mm, rotary split 1kg and pulverizing the split to greater than 85% passing 75 microns. Gold was assayed by 30g fire assay with ICP-AES finish (Au-ICP21). Analyses of silver and base metals were completed by highly oxidising digestion with HNO₃, KClO₃ and HBr (ASY-ORE) and the final solution in dilute aqua regia is determined by ICP-AES (ME-ICPORE). Analysis in CMVDD006 was undertaken by ICP MS after a four-acid digest (ME-MS61). Control samples, comprising certified reference materials (CDN-ME-1811), quarter core field duplicates and blanks were inserted at a rate of 5% and investigated as part of the company’s quality assurance and quality control program.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Hole_ID	Sample_ID	From (m)	To (m)	Au (ppm)	Ag (ppm)	Pb (%)	Sb (%)	Zn (%)
CMVDD005	105247	30.0	31.0	0.003	<1	<0.005	<0.005	0.014
CMVDD005	105248	31.0	32.0	0.003	<1	<0.005	<0.005	0.024
CMVDD005	105249	32.0	33.0	0.005	<1	<0.005	<0.005	0.025
CMVDD005	105250	33.0	34.0	0.018	2	0.007	<0.005	0.026
CMVDD005	105251	34.0	35.0	0.506	112	0.142	4.32	0.725
CMVDD005	105252	35.0	36.0	0.098	2	0.01	0.01	0.064
CMVDD005	105253	36.0	37.0	0.025	<1	<0.005	<0.005	0.02
CMVDD005	105254	37.0	38.0	0.004	<1	<0.005	<0.005	0.016
CMVDD005	105255	38.0	39.0	0.012	<1	0.005	<0.005	0.024
CMVDD005	105256	39.0	40.0	0.005	<1	0.006	<0.005	0.026
CMVDD005	105257	40.0	41.0	0.009	<1	0.015	<0.005	0.029
CMVDD005	105258	41.0	42.0	0.002	<1	0.008	<0.005	0.02
CMVDD005	105259	78.0	79.0	0.003	<1	<0.005	0.009	0.013
CMVDD005	105260	79.0	80.0	0.003	<1	<0.005	0.05	0.014
CMVDD005	105261	79.0	80.0	0.002	<1	<0.005	0.012	0.012
CMVDD005	105262	80.0	81.0	0.006	<1	<0.005	<0.005	0.01
CMVDD005	105263	81.0	82.0	0.093	3	0.006	0.006	0.027
CMVDD005	105264	82.0	83.0	0.077	5	0.022	0.009	0.057
CMVDD005	105265	83.0	84.0	0.161	23	0.076	0.062	0.128
CMVDD005	105266	84.0	85.0	0.385	81	0.277	2.62	0.931
CMVDD005	105267	85.0	86.0	0.931	83	0.378	0.371	0.537
CMVDD005	105268	86.0	87.0	2.05	389	2.07	2.09	2.19
CMVDD005	105269	87.0	88.0	3.65	127	0.773	1.305	1.595
CMVDD005	105270	88.0	89.0	0.373	31	0.314	0.256	0.406
CMVDD005	105271	89.0	90.0	0.081	3	0.065	0.045	0.2
CMVDD005	105272	90.0	91.0	0.026	1	0.022	0.011	0.051
CMVDD005	105273	91.0	92.0	0.01	<1	0.039	0.007	0.059
CMVDD005	105274	92.0	93.0	0.034	<1	0.026	0.012	0.127
CMVDD005	105275	93.0	94.0	0.006	<1	0.089	0.006	0.145
CMVDD005	105276	94.0	95.0	0.005	<1	0.144	<0.005	0.103
CMVDD005	105277	95.0	96.0	0.005	<1	0.127	<0.005	0.251
CMVDD005	105278	96.0	97.0	0.002	<1	0.024	<0.005	0.068
CMVDD006	104999	87	88	<0.001	0.01	0.003	0.001	0.009
CMVDD006	105000	88	89	0.002	0.01	0.003	0.001	0.006
CMVDD006	105001	89	90	0.004	0.01	0.003	0.001	0.009
CMVDD006	105003	90	91	0.001	0.01	0.004	0.001	0.011
CMVDD006	105004	91	92	0.002	<0.01	0.002	0.002	0.007
CMVDD006	105005	92	93	<0.001	0.01	0.005	0.001	0.024
CMVDD006	105006	93	94.2	0.003	0.02	0.009	0.002	0.025
CMVDD006	105007	94.2	95.4	0.001	0.08	0.011	0.002	0.038
CMVDD006	105008	95.4	96.9	0.001	0.75	0.085	0.004	0.271
CMVDD006	105010	97.9	99.4	0.001	0.01	0.002	0.001	0.007
CMVDD006	105011	99.4	100.6	0.002	0.02	0.004	0.001	0.009
CMVDD006	105012	100.6	102	0.002	0.01	0.002	0.001	0.008
CMVDD006	105013	102	103	<0.001	<0.01	0.001	0.001	0.008
CMVDD006	105014	103	104.2	0.001	0.11	0.004	0.001	0.017
CMVDD006	105015	104.2	105	0.006	0.35	0.036	0.002	0.149
CMVDD006	105016	105	106	0.008	0.44	0.037	0.003	0.325
CMVDD006	105017	106	107	0.002	0.07	0.005	0.002	0.023
CMVDD006	105018	107	108	0.002	0.07	0.012	0.002	0.040
CMVDD006	105019	108	109	<0.001	0.07	0.010	0.001	0.027
CMVDD006	105020	109	109.6	0.001	0.05	0.006	0.001	0.022
CMVDD006	105021	109.6	112.6	0.001	0.07	0.010	0.001	0.029
CMVDD006	105022	112.6	114	0.002	0.04	0.004	0.001	0.013
CMVDD006	105023	114	115	0.002	0.01	0.001	0.001	0.008
CMVDD006	105024	115	116	<0.001	0.11	0.004	0.001	0.025
CMVDD006	105025	116	117	0.001	0.07	0.003	0.001	0.018
CMVDD006	105026	117	118	0.001	0.09	0.003	0.001	0.017
CMVDD006	105027	118	119	0.002	0.04	0.002	0.001	0.008
CMVDD006	105028	119	120	0.001	0.02	0.002	0.000	0.009
CMVDD006	105029	120	121	<0.001	0.03	0.003	0.000	0.011
CMVDD006	105030	121	122	0.001	0.04	0.002	0.001	0.009
CMVDD006	105031	122	123	0.002	0.07	0.005	0.001	0.008
CMVDD006	105033	123	124	0.002	0.05	0.004	0.001	0.010
CMVDD006	105034	124	125	0.002	0.03	0.006	0.001	0.012
CMVDD006	105035	125	126	0.002	0.08	0.004	0.002	0.020
CMVDD006	105036	126	127	0.037	1.63	0.015	0.011	0.069
CMVDD006	105037	127	128	0.001	0.03	0.003	0.002	0.016
CMVDD006	105038	128	129	<0.001	0.03	0.003	0.002	0.015
CMVDD006	105039	129	130	0.002	0.04	0.004	0.001	0.018
CMVDD006	105040	130	131	0.014	0.56	0.062	0.011	0.113
CMVDD006	105041	131	132	0.01	0.09	0.012	0.006	0.030
CMVDD006	105042	132	133	0.001	0.02	0.004	0.006	0.018
CMVDD006	105043	133	134	0.001	0.01	0.005	0.006	0.018
CMVDD006	105009	134	135	0.001	0.02	0.003	0.003	0.010
CMVDD006	105044	135	136	<0.001	0.01	0.002	0.004	0.007
CMVDD006	105045	136	137	0.001	0.01	0.002	0.003	0.009
CMVDD006	105046	137	138	<0.001	0.01	0.003	0.002	0.015
CMVDD006	105047	138	139	0.001	<0.01	0.003	0.002	0.016
CMVDD006	105048	139	140	0.001	0.01	0.002	0.002	0.014
CMVDD006	105049	140	141	<0.001	<0.01	0.002	0.002	0.012
CMVDD006	105050	141	142	<0.001	0.02	0.003	0.001	0.014
CMVDD006	105051	142	143	0.001	0.01	0.002	0.001	0.008

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Terra Balcanica Intersects 0.61 g/t Gold Equivalent Over 88.0 m From Surface at Brezani Discovery, Viogor-Zanik in Bosnia-Herzegovina

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Terra Balcanica Intersects 505 g/t AgEq Over 11.0 m Including 3,075 g/t AgEq (108.5 oz/t AgEq) Over 1.7 m at Viogor-Zanik in Bosnia

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2023 / Jan

Terra Balcanica Intersects 0.61 g/t Gold Equivalent Over 88.0 m From Surface at Brezani Discovery, Viogor-Zanik in Bosnia-Herzegovina

Vancouver, British Columbia – January 24^th 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA, FRA:UB1) is pleased to announce the discovery of a gold bearing system at Brezani within its 90% owned Viogor-Zanik project, Bosnia and Herzegovina.

Highlights

Another Viogor-Zanik discovery: the Brezani target maiden drillholes intercepted 0.61 g/t AuEq over 88.0 m (BREDD002) and 0.58 g/t AuEq over 28.6 m (BREDD001); both drillholes encountered gold mineralization from surface confirming the extension of the 32 m at 0.54 g/t AuEq interval detected by trenching 65 m southeast of the drillhole collars (see Company news release from August 17^th, 2022);
Expanding district-scale polymetallic footprint: Viogor-Zanik now features 3 styles of mineralization with 7 metals; the Brezani gold bearing system sits 12 km southeast of the high-grade, polymetallic Cumavici discovery (see Figure 1) which intercepted:
- 824.2 g/t AgEq. over 4.0 m including 1634.4 g/t AgEq. over 2.0 m;
- 816.1 g/t AgEq. over 2.0 m;
- 465.5 g/t AgEq. over 8.7 m including 1196.6 g/t AgEq. over 2.0 m (see Company news releases from September 8^th and October 22^nd, 2022);
Open at depth with favorable lithologies: BREDD002 terminated in elevated gold mineralization at 215 m depth; the Company interprets the elevated gold at the end of the drillhole to be associated with another mineralized zone and silica-chlorite-sericite altered intrusive lithologies downhole highlight the potential for porphyry style mineralization which will require further drill testing (see Figure 3);
Exploration upside: gold-bearing target at Brezani coincides with a resistive volume of rock above a large conductivity anomaly (> 600 m wide, > 60 mS/m) interpreted to represent porphyry style mineralization (see Figure 3), which remains untested.

Terra Balcanica President and CEO, Dr. Aleksandar (Alex) Miskovic, commented:

We are extremely excited about the Brezani gold discovery located over 12 km southeast of the high-grade, polymetallic discovery made by Terra Balcanica at the Cumavici target last year. The Viogor-Zanik project is clearly underexplored as we have identified a number of quality exploration targets through our detailed targeting in 2021 and we have now confirmed three different styles of magmatic-hydrothermal mineralization. The intercepted metasomatized hornfels suggests that we are in the upper part of a large retrograde skarn-porphyry system at Brezani with the gold mineralization encountered from surface and a significant potential for either a deeper porphyry or a sulphide rich Cu-Au proximal skarn mineralization. The spatial coincidence of precious metals with a plus 1.2 km wide magnetic anomaly and the presence of a strong electric conductor at 400 m depth detected via airborne geophysics gives us confidence that we have a large potential mineralized system on our hands. We look forward to more assays from the 2022 program which will be released over the coming weeks.

Drillhole	From (m)	To (m)	Length (m)	Au (g/t)	Ag (g/t)	Cu (%)	Zn (%)	AuEq (g/t)
BREDD001	0.0	28.6	28.6	0.53	0.32	0.03	0.06	0.58
including	20.1	25.8	5.7	1.24	0.33	0.03	0.10	1.27
BREDD002	0.0	88.0	88.0	0.50	0.37	0.03	0.19	0.61
including	10.3	16.5	6.2	1.01	0.22	0.03	0.04	1.01
including	32.0	38.0	6.0	1.50	1.18	0.07	0.72	1.90
including	45.0	53.0	8.0	0.77	1.32	0.11	0.75	1.27

Table 1. Assay results of key mineralized intervals for diamond drillholes BREDD001 and BREDD002. Interval lengths reported are drilled lengths and not true widths. AuEq calculation assumes metal prices of US$1,900/oz for gold (Au), US$24.00/oz for silver (Ag), US$4.00/lb for copper (Cu) and US$1.65/lb for zinc (Zn). Metallurgical recoveries of 95% have been adopted based on metallurgical testwork by Dundee Precious Metals Inc. (TSX:DPM) on their Coka Rakita Au skarn in Serbia (see Note 1 below). BREDD001 was terminated early at 28.6 meters due to increased levels of core loss.

Figure 1. Terra Balcanica’s 216 km² Viogor-Zanik project in eastern Bosnia and Herzegovina with the key drill target areas and their associated styles of mineralization: (i) the epithermal Cumavici corridor, (ii) the Olovine porphyry target and (iii) the southwesterly Brezani skarn/porphyry system is located approximately 12 km SE of the Cumavici Ridge discovery drillholes.

Brezani is located 8.4 km south of the Mineco Ltd.Sase Mine which produces approximately 330 kt of lead-zinc-silver-gold concentrate per year (Figure 1). Brezani hosts components of a large magmatic-hydrothermal system discovered by geophysical and geochemical surveys (Figure 2).

Drillhole BREDD001 was terminated at 28.6 m depth due increased levels of core loss. The core returned 28.6 m at 0.58 g/t AuEq from surface. The lithologies intercepted were strongly oxidized diorites and hydrothermal breccias, ending in a calc-silicate hornfels. Au contents of up to 1.9 m at 2.46 g/t Au are observed in hydrothermal breccias of dioritic intrusive rocks, apopheses of an underlying pre/inter-mineral intrusion.

Figure 2. Geological map highlighting the 1.2km wide, 95th percentile magnetic anomaly at the Brezani target. The strongest magnetic response remains untested at depth, however correlates to Au in surface trenches, quartz vein bearing sericitized diorites and calc-silicate altered hornfels with elevated concentrations of proximal pathfinder elements (Bi-Te) from soil geochemistry. Distal zonation sees strong argillic alteration and a Zn-Mn geochemical halo.

Drillhole BREDD002 was designed as a subsequent hole to BREDD001 to test the resistive hanging wall existing below the exposed calc-silicate hornfels. The drillhole collar was centered on an 850 m wide Au in soil anomaly and located 65 m NW from the previously completed exploratory trenches that yielded 32 m at 0.54 g/t AuEq (See Company’s news release dated August 17^th, 2022). The mineralized interval reporting 88.0 m at 0.61 g/t AuEq from surface includes 7 m of dilution from a late, post-mineralization diorite dyke.

Figure 3. Conductivity profile of the Brezani target with >95th percentile magnetic anomaly. BREDD002 tests the resistive volume above an abrupt change into coincident high magnetic and elevated electrical conductivity response below 300 m depth which culminates at >60 mS/m at 450 m of depth. Dashed line represents distance from the end of BREDD002 to the top of conductor.

The sulphides encountered at Brezani are characterised by both disseminated and intervals of semi-massive sphalerite-chalcopyrite (Figure 4). Pyrrhotite is the dominant iron sulphide, with pyrite uncommon. The gold is controlled by lithology and associated with skarns, calc-silicate hornfels and specific intrusive phases. Quartz veins host pyrrhotite, sphalerite, chalcopyrite and molybdenite. A less reactive hornfels is present between 87.2 and 199 m depth but silicified diorite reappears between 214 and 215 m depth where the drillhole ended in Au mineralization returning 0.26 g/t Au.

Intermediate sulphidation veins were observed at 156 m and 168 m downhole returning 1.0 m at 0.39 g/t Au and 1.0 m at 0.34 g/t Au, 12.1 g/t Ag, respectively. The presence of these veins confirms another mineralization style within the broad porphyry (Cu) model. Mineralogy is varied with pyrrhotite, pyrite, sphalerite, galena, arsenopyrite and bismuthinite present within fault hosted, quartz-carbonate veins (Figure 5).

Figure 4. Retrograde skarn with sphalerite-chalcopyrite at 37.5 m (2.74 g/t Au).

Figure 5. Intermediate sulphidation veins in silicified hornfels of BREDD002

Hole ID	Easting	Northing	Elevation	Dip	Azimuth	Depth (%)	Recovery (%)
BREDD001	368461.4	4880027.0	872.5	-70	336	28.6	73.1
BREDD002	368460.7	4880028.8	872.4	-70	336	215.0	96.0

Table 2. Collar location and core recoveries for diamond drillhole BREDD001 and BREDD002 (UTM; WGS84). BREDD001 drillhole experienced a cumulative core loss of 2.0 m between 14.9-15.4 m, 16.3-16.9 m, 19.6-20.1 m, and 25.8-26.2 m, while BREDD002 experienced core loss of 0.8 m between 24.0-24.8m.

The Brezani target bears lithological similarities with the Rogozna Project operated by Zlatna Reka Resources located 150 km SW within the Oligo-Miocene Tethyan belt in neighbouring Serbia. The Rogozna Au-Cu skarn deposit has a 2021 JORC compliant inferred mineral resource of 64 Mt grading 0.7 g/t Au and 0.2% Cu (2.15 Moz Au total), calculated using multiple indicator kriging on 154 drillholes, totalling 90,278 drill metres (https://ibaera.com/rogozna-2-15moz-au-eq-maiden-resource-estimate/).

Further Drilling: The coincident strong magnetic and conductivity anomalies (> 60 mS/m) below the resistive surface shell at Brezani remains untested and presents a promising target for increased, interconnected sulphide content characteristic of mineralized porphyry shells (Figure 3), which will be the Company’s priority during the 2023 drilling campaign. Follow up will be undertaken from other locations within the Au-in-soil anomaly to assess lithological variability and grade of the Au skarn along strike. Additional drilling will test Au anomalous rock chips within argillically altered volcanics and hydrothermal breccias thus offering a chance for testing multiple styles of mineralization within a broad porphyry model.

Note 1: https://www.dundeeprecious.com/English/Corporate-News/press-release-details/2023/Dundee-Precious-Metals-Announces-Discovery-of-Significant-High-Grade-Deposit-at-oka-Rakita-Results-Include-Drill-Intercept-of-40-metres-at-63.6-gt-Au-and-0.11-Cu/default.aspx

QA/QC

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

Download news release (.pdf)

Hole ID	Sample	From (m)	To (m)	Au (ppm)	Ag (ppm)	Cu (ppm)	Zn (ppm)
BREDD001	105407	0.0	1.0	0.407	3.64	173	564
BREDD001	105408	1.0	2.0	0.465	0.16	163	263
BREDD001	105409	2.0	3.0	0.29	0.2	170.5	257
BREDD001	105410	3.0	4.0	0.38	0.11	169.5	181
BREDD001	105411	4.0	5.0	0.373	0.12	194	194
BREDD001	105412	5.0	6.0	0.264	0.09	379	327
BREDD001	105413	6.0	7.0	0.247	0.1	433	372
BREDD001	105414	7.0	8.0	0.276	0.1	523	362
BREDD001	105415	8.0	9.0	0.281	0.09	493	366
BREDD001	105416	9.0	10.0	0.273	0.07	385	296
BREDD001	105417	10.0	11.3	0.198	0.09	390	248
BREDD001	105418	11.3	14.9	0.126	0.12	233	77
BREDD001	105419	15.4	16.3	0.198	0.14	289	191
BREDD001	105420	16.9	17.9	0.446	0.21	138.5	826
BREDD001	105421	17.9	19.6	0.312	0.28	48.4	1390
BREDD001	105422	20.1	21.1	2.32	0.45	224	1225
BREDD001	105423	21.1	22.0	2.62	0.23	156	1685
BREDD001	105424	22.0	23.0	0.611	0.21	215	823
BREDD001	105425	23.0	24.0	0.378	0.26	305	656
BREDD001	105426	24.0	25.0	0.735	0.41	341	1140
BREDD001	105427	25.0	25.8	0.801	0.45	417	484
BREDD001	105428	26.2	27.0	0.68	0.27	179	1020
BREDD001	105429	27.0	28.6	0.947	0.15	33.2	1175
BREDD002	105430	0	1	0.287	0.1	221	184
BREDD002	105431	1	2	0.345	0.07	355	175
BREDD002	105432	2	3	0.266	0.12	502	245
BREDD002	105433	3	4	0.149	0.11	414	189
BREDD002	105434	4	5	0.203	0.11	434	173
BREDD002	105435	4	5	0.206	0.11	412	179
BREDD002	105436	5	6	0.218	0.09	336	139
BREDD002	105437	6	7	0.128	0.09	343	126
BREDD002	105438	7	8	0.122	0.12	237	81
BREDD002	105439	8	9	0.167	0.11	290	123
BREDD002	105440	9	10.3	0.11	0.09	383	144
BREDD002	105441	10.3	12	0.214	0.16	680	230
BREDD002	105442	12	13	1.955	0.2	174.5	224
BREDD002	105443	13	14	1.995	0.43	178.5	410
BREDD002	105444	14	15	0.947	0.15	48.4	508
BREDD002	105445	15	16.5	0.658	0.19	24.1	372
BREDD002	105446	16.5	18	0.196	0.19	21.4	2640
BREDD002	105447	18	19	0.559	0.32	347	1625
BREDD002	105448	19	20	1.03	0.32	371	810
BREDD002	105449	20	21	0.876	0.36	330	831
BREDD002	105450	21	22	0.58	0.33	439	1045
BREDD002	105451	22	23	0.559	0.46	554	724
BREDD002	105452	23	24	0.834	0.53	552	1095
BREDD002	105453	24.8	26	0.953	0.24	125	1250
BREDD002	105454	26	27	0.542	0.22	64.1	1145
BREDD002	105455	27	28	0.533	0.17	110.5	1285
BREDD002	105456	28	29.2	1.365	0.36	71.4	1730
BREDD002	105457	29.2	30	1.29	0.38	29.2	2170
BREDD002	105458	30	31	0.546	0.24	46.3	1140
BREDD002	105459	31	32	0.478	0.31	122	5500
BREDD002	105460	32	33	1.04	0.48	125	2080
BREDD002	105461	33	34	0.545	0.26	58.5	1500
BREDD002	105462	34	35	0.293	0.3	83.3	4370
BREDD002	105463	35	36	1.525	1.91	1475	12400
BREDD002	105464	35	36	1.78	2.52	1705	10850
BREDD002	105465	36	37	2.62	2.06	1150	14550
BREDD002	105466	37	38	2.74	1.45	1140	10150
BREDD002	105467	38	39.6	0.718	0.38	294	1875
BREDD002	105468	39.6	41	0.265	0.21	156	1035
BREDD002	105469	41	42	0.17	0.2	100.5	977
BREDD002	105470	42	43	0.496	0.16	43.9	2240
BREDD002	105471	43	44	0.614	0.21	47.6	1690
BREDD002	105472	44	45	0.913	0.43	325	415
BREDD002	105473	45	46	0.658	1.27	1380	9210
BREDD002	105474	46	47	0.478	1.23	754	5650
BREDD002	105475	47	48	1.56	2.75	2610	13950
BREDD002	105476	48	49	0.583	0.9	1160	1970
BREDD002	105477	49	50	0.82	1.46	1985	21200
BREDD002	105478	50	51	0.429	0.5	524	2840
BREDD002	105479	51	52	0.547	2.19	377	4890
BREDD002	105481	52	53	1.08	0.24	195.5	524
BREDD002	105482	53	54	1.045	0.08	13.5	796
BREDD002	105483	54	55	0.411	0.06	82.4	142
BREDD002	105484	55	56	0.417	0.18	37.1	611
BREDD002	105485	56	57	0.463	0.13	3.6	514
BREDD002	105486	57	58	0.276	0.15	104	668
BREDD002	105487	58	59	0.184	0.07	60.6	337
BREDD002	105488	59	60	0.134	0.09	112.5	228
BREDD002	105489	60	61	0.222	0.1	126	312
BREDD002	105490	61	62	0.13	0.09	120	214
BREDD002	105491	62	63	0.083	0.08	86.1	228
BREDD002	105492	63	64	0.084	0.05	95.5	188
BREDD002	105493	63	64	0.086	0.24	83.3	224
BREDD002	105494	64	65	0.09	0.69	65	150
BREDD002	105495	65	66	0.027	0.09	58	94
BREDD002	105496	66	67	0.051	0.31	50.9	105
BREDD002	105497	67	68	0.07	0.14	63.7	98
BREDD002	105498	68	69	0.009	0.05	36.5	68
BREDD002	105499	69	70	0.041	0.07	55.5	108
BREDD002	105500	70	71	0.071	0.06	52.2	189
BREDD002	105501	71	72	0.025	0.06	57.3	193
BREDD002	105502	72	73	0.046	0.05	62.1	377
BREDD002	105503	73	74	0.038	0.1	5.8	610
BREDD002	105504	74	75	0.026	0.1	3.3	1295
BREDD002	105505	75	76	0.104	0.29	57.9	3050
BREDD002	105506	76	77	0.088	0.15	4.1	2050
BREDD002	105507	77	78	0.03	0.2	7.6	1965
BREDD002	105508	78	79	0.101	0.7	18.3	3690
BREDD002	105509	79	80	0.16	0.18	5.7	938
BREDD002	105510	80	81	0.185	0.12	26.9	274
BREDD002	105511	81	82	0.263	0.08	6.9	504
BREDD002	105512	82	83	0.23	0.13	34.7	268
BREDD002	105513	83	83.9	0.366	0.24	193	280
BREDD002	105514	83.9	85	0.103	0.13	118	165
BREDD002	105515	85	86	0.117	0.15	81.3	161
BREDD002	105516	86	87	0.082	0.31	206	120
BREDD002	105517	87	88	0.095	0.16	208	75
BREDD002	105518	88	89	0.067	0.16	206	73
BREDD002	105519	89	90	0.047	0.12	122.5	83
BREDD002	105520	90	91	0.021	0.05	65.2	79
BREDD002	105521	91	92	0.016	0.65	79.9	125
BREDD002	105522	91	92	0.013	0.11	74.6	123
BREDD002	105523	92	93	0.055	0.13	140.5	111
BREDD002	105524	93	94	0.072	0.17	178	98
BREDD002	105525	94	95	0.023	0.15	99.8	96
BREDD002	105526	95	96	0.043	0.38	110.5	112
BREDD002	105527	96	97	0.032	0.22	155	73
BREDD002	105528	97	98	0.024	0.38	145	358
BREDD002	105529	98	99	0.039	0.21	135.5	186
BREDD002	105530	99	100	0.037	0.17	76	109
BREDD002	105531	100	101	0.074	0.26	97.2	178
BREDD002	105532	101	102	0.065	0.19	163	127
BREDD002	105533	102	103	0.017	0.21	121.5	94
BREDD002	105534	103	104	0.009	0.11	69.7	136
BREDD002	105535	104	105	0.01	0.07	63.5	104
BREDD002	105536	105	106	0.022	0.34	73.2	164
BREDD002	105537	106	107	0.019	0.73	86	93
BREDD002	105538	107	108	0.009	0.39	114.5	67
BREDD002	105539	108	109	0.01	0.43	116	106
BREDD002	105540	109	110	0.015	0.28	103	167
BREDD002	105541	110	111	0.114	0.22	112.5	130
BREDD002	105542	111	112	0.082	0.11	100.5	72
BREDD002	105543	112	113	0.037	0.24	73.1	97
BREDD002	105544	113	114	0.019	0.6	137.5	343
BREDD002	105545	114	115	0.025	0.29	79.9	81
BREDD002	105546	115	116	0.024	0.25	64.8	42
BREDD002	105547	116	117	0.099	0.21	103	115
BREDD002	105548	117	118	0.076	0.42	82.3	192
BREDD002	105549	118	119	0.086	0.25	83.2	101
BREDD002	105550	119	120	0.08	0.23	54.3	130
BREDD002	105551	119	120	0.093	0.21	53.8	108
BREDD002	105552	120	121	0.069	0.23	52	120
BREDD002	105553	121	122	0.069	0.31	76.9	94
BREDD002	105554	122	123	0.066	0.32	78.1	114
BREDD002	105555	123	124	0.048	0.34	61.8	140
BREDD002	105557	124	125	0.058	0.42	60.9	229
BREDD002	105558	125	126	0.071	0.23	54.5	129
BREDD002	105559	126	127	0.06	0.27	56.2	168
BREDD002	105560	127	128	0.044	0.1	33.6	216
BREDD002	105561	128	129	0.012	0.03	31.8	321
BREDD002	105562	129	130	0.011	0.04	42.5	108
BREDD002	105563	130	131	0.009	0.14	58.7	87
BREDD002	105564	131	132	0.003	0.07	45	91
BREDD002	105565	132	133	0.021	0.14	71.2	162
BREDD002	105566	133	134	0.018	0.08	53.3	99
BREDD002	105567	134	135	0.008	0.06	33.6	93
BREDD002	105568	135	136	0.006	0.08	32.8	65
BREDD002	105569	136	137	0.005	0.04	35	90
BREDD002	105570	137	138	0.019	0.06	51.2	118
BREDD002	105571	138	139	0.018	0.16	79.6	76
BREDD002	105572	139	140	0.016	0.09	43.9	106
BREDD002	105573	140	141	0.047	0.11	56.8	67
BREDD002	105574	141	142	0.006	0.06	38.5	88
BREDD002	105575	142	143	0.018	0.53	20.4	284
BREDD002	105576	143	144	<0.001	0.35	31.7	157
BREDD002	105577	144	145	0.002	0.05	32.4	48
BREDD002	105578	145	146	0.001	0.06	31.7	65
BREDD002	105579	146	147	0.002	0.31	30.8	58
BREDD002	105580	147	148	<0.001	0.13	25.5	164
BREDD002	105581	148	149	0.016	0.99	29.2	386
BREDD002	105582	149	150	0.013	0.14	55	57
BREDD002	105583	150	151	0.02	0.09	45.3	69
BREDD002	105584	151	152	0.051	0.14	48.1	92
BREDD002	105585	151	152	0.014	0.11	54.5	63
BREDD002	105586	152	153	0.015	0.1	35.5	91
BREDD002	105587	153	154	0.026	0.29	50.3	132
BREDD002	105588	154	155	0.011	0.11	45.6	78
BREDD002	105589	155	156	0.019	0.26	55.3	142
BREDD002	105590	156	157	0.392	1.9	53.3	89
BREDD002	105591	157	158	0.03	0.27	36.6	130
BREDD002	105592	158	159	0.007	0.18	40.2	143
BREDD002	105593	159	160	0.038	0.81	59.4	236
BREDD002	105594	160	161	0.007	0.13	45.1	109
BREDD002	105595	161	162	0.013	0.26	52.2	92
BREDD002	105596	162	163	0.073	0.21	49.5	73
BREDD002	105597	163	164	0.013	0.27	50.6	116
BREDD002	105598	164	165	0.024	0.17	51.4	141
BREDD002	105599	165	166	0.058	0.17	72.8	200
BREDD002	105600	166	167	0.025	0.24	54.3	227
BREDD002	105601	167	168	0.062	0.34	64.4	287
BREDD002	105602	168	169	0.341	12.1	60.4	759
BREDD002	105603	169	170	0.01	0.2	38.6	212
BREDD002	105604	170	171	0.03	0.07	27.7	82
BREDD002	105605	171	172	0.016	0.11	32.8	87
BREDD002	105606	172	173	0.016	0.1	34.5	83
BREDD002	105607	173	174	0.131	0.24	42.7	129
BREDD002	105608	174	175	0.025	0.15	37.7	91
BREDD002	105609	175	176	0.024	0.22	46.1	135
BREDD002	105610	176	177	0.023	0.28	60.1	149
BREDD002	105611	177	178	0.106	0.22	67.6	210
BREDD002	105612	178	179	0.049	0.41	54.4	270
BREDD002	105613	179	180	0.034	0.14	35.8	170
BREDD002	105614	179	180	0.042	0.14	43.6	216
BREDD002	105615	180	181	0.022	0.79	75.9	156
BREDD002	105616	181	182	0.054	0.18	74.9	262
BREDD002	105617	182	183	0.031	0.18	74.4	605
BREDD002	105618	183	184	0.109	0.14	68	533
BREDD002	105619	184	185	0.023	0.12	63.5	81
BREDD002	105620	185	186	0.03	0.24	77.1	170
BREDD002	105621	186	187	0.006	0.3	48.2	140
BREDD002	105622	187	188	0.066	0.1	51.2	95
BREDD002	105623	188	189	0.165	0.31	120	151
BREDD002	105624	189	190	0.033	0.12	86.3	118
BREDD002	105625	190	191	0.007	0.1	52.8	134
BREDD002	105626	191	192	0.043	0.08	61	107
BREDD002	105627	192	193	0.014	0.26	62.4	155
BREDD002	105628	193	194	0.117	0.17	79.5	167
BREDD002	105629	194	195	0.033	0.1	117	78
BREDD002	105631	195	196	0.044	0.12	60.8	64
BREDD002	105632	196	197	0.098	0.02	52.2	59
BREDD002	105633	197	198	0.019	0.04	35.1	278
BREDD002	105634	198	199	0.019	0.02	4.5	547
BREDD002	105635	199	200	0.084	0.08	2.5	833
BREDD002	105636	200	201	0.015	0.05	2.5	601
BREDD002	105637	201	202	0.042	0.06	4.2	687
BREDD002	105638	202	203	0.042	0.08	18.6	521
BREDD002	105639	203	204	0.225	0.11	10.8	403
BREDD002	105640	204	205	0.032	0.07	7.7	337
BREDD002	105641	205	206	0.017	0.05	31.5	323
BREDD002	105642	206	207	0.02	0.14	60.9	284
BREDD002	105643	206	207	0.02	0.12	55.3	285
BREDD002	105644	207	208	0.021	0.07	19.2	292
BREDD002	105645	208	209	0.023	0.02	1.7	195
BREDD002	105646	209	210	0.013	0.05	1	314
BREDD002	105647	210	211	0.022	0.06	4.1	370
BREDD002	105648	211	212	0.054	0.06	4.8	177
BREDD002	105649	212	213	0.086	0.07	14	146
BREDD002	105650	213	214	0.052	0.07	30.1	89
BREDD002	105651	214	215	0.256	0.11	24	84

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Terra Balcanica Extends Footprint of Shallow Polymetallic Cumavici Vein at Viogor-Zanik Project in Bosnia-Herzegovina

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Terra Balcanica Intersects 284 g/t AgEq Over 10 m Including 895 g/t AgEq Over 2 m at Viogor-Zanik Project in Bosnia

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2023 / Jan

Terra Balcanica Extends Footprint of Shallow Polymetallic Cumavici Vein at Viogor-Zanik Project in Bosnia-Herzegovina

Vancouver, British Columbia – January 11^th 2023 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA, FSE:UB1) is pleased to confirm that step-out drilling has extended the massive, polymetallic sulphide vein system at the Cumavici Ridge target located within its 90% owned Viogor-Zanik project, Bosnia and Herzegovina.

Highlights

Two shallow intervals from drillholes CMVDD004 and CMVDD005 reveal visible massive sulphides of 10 m and 11 m in thickness respectively (Figure 2); the system remains open down dip and along strike (Figures 2 and 3);
System strike length has been extended by approximately 50 meters west-northwest from the initial drillholes released from the Cumavici target where previously reported drillhole intervals include:
- CMVDD001: 824.2 g/t AgEq. over 4.0 m including 1634.4 g/t AgEq. over 2.0 m;
- CMVDD002: 816.1 g/t AgEq. over 2.0 m;
- CMVDD003: 465.5 g/t AgEq. over 8.7 m including 1196.6 g/t AgEq. over 2 m.
Assay results from CMVDD004, CMVDD005 and CMVDD006 will be released shortly.

Terra Balcanica CEO, Dr. Aleksandar Mišković comments:

The 2022 maiden drill program at Cumavici Ridge has been encouraging in confirming the hypothesis of identifying a shallow, high-grade polymetallic, epithermal vein-hosted mineralized system, while also confirming its down-dip and along-strike continuity. It is very exciting to see the Cumavici Ridge target entirely open along strike allowing for continued step out and infill drilling. Our team has gained a strong understanding of the local geology and there are a series of targets that will be tested to expand the mineralized system. We see the same macroscopic features in these holes as we did in the previously released drillholes and eagerly await the assay results which are expected shortly.

The Company commenced its maiden drill program by discovering a high-grade, polymetallic vein system intercepting 824.2 g/t AgEq over 4.0 m at the Cumavici Ridge target (see news release dated September 8, 2022). Subsequently, the footprint of this intermediate sulfidation epithermal system was extended 83 m down-dip including drill intervals of 465.5 g/t AgEq over 8.7 m, including 1196 g/t AgEq over 2.0 m (see Company news release dated October 22, 2022). The subsequent step-out holes of CMVDD004 and CMVDD005 have intercepted thicker intervals of up to 11 m of massive sulphides approximately 50 meters west-northwest from the initial cluster of drillholes including CMVDD001, CMVDD002 and CMVDD003.

Drill Core Observations

CMVDD004 – Drillhole CMVDD004 intercepted approximately 11 m of altered andesitic tuff and visible sulphide-rich veining starting from 43 m depth. Over 1.7 m of semi-massive sulphides are observed from 44.8 m dominated by stibnite with sphalerite and galena. In the footwall, stockwork veinlets grade into disseminated sulphides in a pervasively argillic-altered volcanic.

CMVDD005 – Drillhole CMVDD005 intercepted two distinct zones of continuous sulphide veining within andesitic crystalline tuffs. At 34.4 m depth a 0.3 m massive sulphide vein is observed dominated by stibnite with lesser sphalerite and galena within a 3 m-wide zone of Ag-Zn-Pb mineralization. A second zone of massive sulphide veining approximately 10 m wide is encountered from 81.0 m depth comprised of sulphide cemented breccias, quartz-sulphide veins and intervals of massive sulphide, which grades downhole into sporadic aggregates of stibnite and sphalerite.

Figure 1. Geological map of Terra’s 216 km² Viogor-Zanik project in eastern Bosnia and Herzegovina with the key drill target areas and their associated styles of mineralization: (i) the epithermal Cumavici corridor, (ii) the Olovine porphyry target and (iii) the Brezani skarn/porphyry system.

Ongoing Exploration Program

Drillhole CMVDD004 represents an approximately 30 m northwest lateral step out from CMVDD001. The down-dip extension of this is confirmed with CMVDD005 with a collar separation of approximately 50 m between end holes on the two drill fences. Future drilling efforts will test the continuity of the 7.2 km long Cumavici polymetallic vein system along strike towards the northwest and southeast. Additionally, the Company completed drilling at the Brezani skarn/porphyry target which is located over 12 km to the southeast from Cumavici (see Figure 1).

Hole ID	UTM Easting	UTM Northing	Elevation (masl)	Dip (°)	Azimuth (°)	Depth (m)	Recovery (%)
CMVDD004	360174	4888539	611	-85	045	77.7	87.3
CMVDD005	360141	4888516	621	-85	050	99.0	94.4

Table 1. Selected collar locations at the Cumavici Ridge target area (WGS84; UTM Zone 34N).

Figure 2. Cross-section of drillholes CMVDD004 and CMVDD005 illustrating intervals of stockwork and massive sulphides; drill hole assays are pending. Azimuth of view is 315°.

Figure 3. Plan view geological map with the Cumavici Ridge diamond drillholes targeting the shallow polymetallic mineralization hosted by andesitic volcanics and tuffs. CMVDD004 and CMVDD005 are approximately 50 m along strike away from the initial drill holes released from the target.

Figure 4. Drill hole CMVDD004 between 44.1 m and 48.0 m. Footwall veins and semi-massive sulphide intervals can be observed. Figure 5 (below) is outlined by white rectangles.

Figure 5. Drill core from CMVDD004 illustrating both semi-massive sulphides and a footwall vein of quartz-carbonate-sulphide. Sulphide assemblage dominated by sphalerite with marcasite, jamesonite and silver-bearing sulfosalt freibergite with trace miargyrite (2 cm scratcher tip).

Figure 6. Photographs of 83.2-88.5 m from drillhole CMVDD005. Quartz-sulphide veins grade into massive sulphide and sulphide cemented breccias. Mineralization is over 10 m thickness.

Figure 7. Drill core segment 87.15 – 87.45 m from CMVDD005. Sulphide-quartz cemented hydrothermal breccia with sub-angular clasts of silicified andesitic tuff host rock. Sulphide assemblage comprises stibnite-sphalerite-berthierite with trace inclusions of miargyrite. (2 cm scratcher tip for scale).

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Dually Lists on Frankfurt Stock Exchange

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Terra Balcanica Intersects 0.61 g/t Gold Equivalent Over 88.0 m From Surface at Brezani Discovery, Viogor-Zanik in Bosnia-Herzegovina

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2022 / Dec

Terra Balcanica Dually Lists on Frankfurt Stock Exchange

Vancouver, British Columbia – December 28^th 2022 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) is pleased to announce that it became dually listed issuer on the Frankfurt Stock Exchange as of the 23^rd of December 2022.

Frankfurt Stock Exchange Listing

Terra has become a dual-listed company by commencing trading on the Frankfurt Stock Exchange (“FSE”) under the code “UB1”. The FSE listing enlarges the Company’s investor reach and increases its exposure to European markets at a crucial time in its development.

Terra’s CEO, Dr. Aleksandar Mišković commented:

In line with our growth strategy, we are pleased to have listed on the FSE to broaden our stakeholder engagement on the continent where explore for critically needed metals. We look forward to expanding our network of stakeholders and welcome new retail as well as institutional investors to our Company while we advance polymetallic exploration across the Balkans.

About the Company

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Cautionary Statement

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

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Terra Balcanica Announces Closing of $500,000 Financing

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Terra Balcanica Extends Footprint of Shallow Polymetallic Cumavici Vein at Viogor-Zanik Project in Bosnia-Herzegovina

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2022 / Dec

Terra Balcanica Announces Closing of $500,000 Financing

Vancouver, British Columbia – December 15^th 2022 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) is pleased to announce that it has closed its previously announced non-brokered private placement financing of units (the ”Units”) for gross proceed of $500,000 (the “Offering”).

The Company issued an aggregate of 5,000,000 Units at a price of $0.10 per Unit pursuant to the Offering. Each Unit consists of one common share in the capital of the Company (each, a “Common Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one Common Share at an exercise price of $0.15 until December 15^th, 2025.

Terra’s CEO, Alex Miskovic, commented:

We are pleased to complete this financing prior to year’s end which will allow the Company to enter 2023 in a much stronger financial position. Although the global financing markets have been very challenging, the successful financing is a testament to our internal supporters and growing Terra Balcanica brand. We appreciate the continued support of our existing shareholders and are very pleased to have added new names to our registry.

The Company intends to use the net proceeds of the Offering for working capital and general corporate purposes. Finders fees in the amount of $17,689 were paid.

Dr. Aleksandar Miskovic, the CEO and a director, Guilio Bonifacio, Chair of the board of directors, Steven Latimer, a director, and Brandon Bonifacio, a director (the “Insiders”) purchased 1,023,000 Units as part of the Offering. The issuance of the Units to the Insiders constitutes a “related party transaction” as this term is defined in Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (“MI 61-101”). The Company is relying on the exemption from valuation requirement and minority approval pursuant to subsection 5.5(a) and 5.7(a) of MI 61-101, respectively, as the securities do not represent more than 25% of the Company’s market capitalization, as determined in accordance with MI 61-101. The participation by Insiders in the Offering was approved by directors of the Company who are independent in connection with such transaction.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. “United States” and “U.S. Person” are as defined in Regulation S under the U.S. Securities Act.

About the Company

Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

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Terra Balcanica Announces Private Placement Financing

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Terra Balcanica Dually Lists on Frankfurt Stock Exchange

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2022 / Nov

Terra Balcanica Announces Private Placement Financing

Vancouver, British Columbia – November 14^th 2022 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) announces the intent to complete a non-brokered private placement (the “Private Placement”) for gross proceeds of up to C$500,000 through the issuance of 5,000,000 units (each a “Unit”) at a purchase price of C$0.10 per Unit. Each Unit will be comprised of one common share in the capital of the Company ( “Common Share”) and one Common Share purchase warrant (“Warrant”) to purchase an additional common share of the Company (“Warrant Share”) at an exercise price of C$0.15 per Warrant Share for a period of 36 months from the closing date of the Private Placement (the “Closing Date”).

The Common Shares will be offered by way of prospectus exemptions in Canada and the Common Shares sold in the Private Placement will be subject to a hold period of four months plus one day. The Closing Date is expected to occur on or before December 2nd, 2022, subject to regulatory approvals, including the approval of the CSE and certain other customary conditions including, but not limited to, execution of subscription agreements between the Company and the subscribers. In certain circumstances, the Company may pay finder’s fee in cash on a portion of the Private Placement.

The Private Placement will provide Terra with the necessary capital to continue to advance the Company’s ongoing exploration activities in the Balkans.

About the Company

Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Download news release (.pdf)

Terra Balcanica Intercepts 465.5 g/t Silver Equivalent Over 8.7 Meters Including 1196 g/t AgEq. Over 2 Meters and Extends Cumavici Vein by 80 Meters at Viogor-Zanik in Bosnia-Herzegovina

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Terra Balcanica Announces Closing of $500,000 Financing

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2022 / Oct

Terra Balcanica Intercepts 465.5 g/t Silver Equivalent Over 8.7 Meters Including 1196 g/t AgEq. Over 2 Meters and Extends Cumavici Vein by 80 Meters at Viogor-Zanik in Bosnia-Herzegovina

Vancouver, British Columbia – October 22^nd 2022 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) is pleased to announce additional high-grade polymetallic results from the first phase of drilling at the Cumavici prospect at its 90% owned Viogor-Zanik project, Bosnia and Herzegovina. Further assays from the drill program are expected over the coming months.

Highlights:

High grade polymetallic mineralization at Cumavici continues with a significant step-out: CMVDD003 is an 83-meter step-out from CMVDD001 (Figure 1) and intercepted a thick vein interval of 465.5 g/t AgEq. over 8.7 meters, including 1196.6 g/t AgEq. over 2.0 meters. The vein is open at depth;
Continuity of high-grade epithermal mineralization: the CMVDD002 hole is a critical hole drilled between CMVDD001 and CMVDD003 (Figure 1), where it intercepted 816.1 g/t AgEq. over 2.0 meters starting at 45.0 meters depth thus showing high-grade vein continuity at Cumavici Ridge;
Cumavici Ridge vein system remains open at depth: all three holes drilled at Cumavici Ridge spanning over 80 meters of down-dip length have returned positive, high-grade results with massive Pb-Zn-Sb sulphides and significant Au-Ag credits (Figure 2). The vein system also appears to continue along strike and further drilling will systematically evaluate the extent of this discovery (Figure 2);
District-scale exploration upside: the 7.2 km strike length of the system (Figure 3) at Cumavici remains open with several untested targets. The focus of the current drilling by Terra is to drill the extents of this prospective area focusing on key vein segments identified from previously completed surface mapping, geochemical and geophysical analysis, and structural work. The Viogor-Zanik project spans over 216 km2 and has two other key target areas featuring Cu-Mo porphyry (Olivine) and Au-Cu-Zn skarn (Brezani) styles of mineralization (Figure 4).

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments:

With the 80 meter drill step out we have confirmed a significant down-dip extension of the shallow Cumavici Ridge vein which is open at depth. All three holes drilled to date at this target have intercepted high-grade polymetallic mineralization and we are gaining a better understanding of the geological model with each hole completed. The Cumavici Ridge vein segment itself appears open along strike, thus providing opportunities for further step outs to define its geometry and grade. Furthermore, Cumavici Ridge is only one of the prospective localities within the larger 7.2 km Cumavici corridor, the extent of which we are excited to fully investigate. We are seeing the same geological characteristics across the large footprint akin to the vein-hosted style of mineralization present in the adjacent Mineco Group’s Sase Mine. Terra has been and will continue to drill these target areas as a part of our maiden drill program. A number of additional drill holes are currently at the lab and more assays will be released over the coming months.

Drillhole	From (m)	To (m)	Length (m)	Ag (g/t)	Au (g/t)	Pb (%)	Sb (Zn)	Zn (%)	AgEq (g/t)
CMVDD001*	29.00	33.0	4.0	131.5	0.84	2.12	1.85	4.59	824.2
including*	30	32	2.0	261.0	1.62	4.2	3.70	9.10	1634.4
including*	43	48	5.0	26.1	0.13	0.09	0.18	0.14	78.7
including	46	48	2.0	62.5	0.21	0.19	0.42	0.29	172.6
CMVDD002	45.0	47.0	2.0	144.0	0.23	4.27	0.44	8.26	816.1
CMVDD003	89.0	97.7	8.7	105.0	0.81	0.70	1.20	1.17	465.5
including	91.0	93.0	2.0	289.0	1.16	2.03	3.50	3.16	1196.6

Table 1. Assay results of key mineralised intervals for diamond drillholes CMVCDD001 to CMVDD003. Interval lengths reported are drilled lengths, not true widths. Silver equivalents (“AgEq”) are based on assumed metal prices of US$1,950/oz for gold (Au), US$18.00/oz for silver (Ag), US$1.00/lb for lead (Pb), US$4.50/lb for antimony (Sb) and US$1.50/lb for zinc (Zn). The calculations assume 100% metallurgical recovery, indicative of gross in situ metal value. *The CMVDD001 results were released on September 8^th, 2022.

Drillhole CMVDD002: successfully targeted down-dip extension from drillhole CMVDD001 with intersection of colloform sphalerite-galena within a 2-meter mineralised interval.

Drillhole CMVDD003: targeted the down-dip extension of this shallow mineralisation with an 83-meter collar step-out. The positive results confirm the structure extends at depth and demonstrates a thicker mineralised zone down-dip.

Terra is continuing to define the mineralization along the NW-SE oriented strike of the Cumavici corridor as part of its 3,500 meters maiden drilling program at the Viogor-Zanik project. (See news release from September 8^th, 2022, which reported 824.2 g/t AgEq. over 4.0 m in CMVD001).

Hole ID	Easting	Northing	Elevation (m)	Dip	Azimuth	Depth (m)	Recovery (%)
CMVDD002	360186	4888502	605	-85	045	82.5	96.5
CMVDD003	360137	4888475	627	-72	052	176.9	95.1

Table 2. The drill hole collar locations at the Cumavici Ridge target (WGS84; UTM Zone 34N).

Figure 1. Plan map of diamond drillholes CMVDD001 to CMVDD003 targeting the shallow polymetallic mineralization hosted by andesitic volcanics and tuffs at the Cumavici Ridge locality. CMVDD003 marks an 83-m step out successfully intersecting the down-dip extension of the vein.

Figure 2. A northwest oriented cross section of the Cumavici Ridge location depicting the drillholes CMVDD001 through CMVDD003 with polymetallic intervals labelled as AgEq. Sulphide-bearing, vein-hosted mineralisation is open down-dip to the southwest.

Figure 3. Geological map of Cumavici with the identified targets. Current drilling efforts are focused at Cumavici Ridge. Vein mineralisation is highlighted as yellow ribbons.

Figure 4. The Viogor-Zanik project with the key target areas: Cumavici, Olovine and Brežani and their associated style of mineralisation.

QA/QC

One metre long, composite core samples were delivered to ALS Bor, Serbia for sample preparation and wet chemical analysis at the ALS Loughrea, Ireland, an ISO/IEC 17025:2017 certified laboratory. Sample preparation PREP-31BY method was used on all core samples by crushing to 70% less than 2 mm, rotary split 1 kg and pulverizing the split to greater than 85% passing 75 μm. Gold was assayed by 30g fire assay with ICP-AES finish (Au-ICP21). Analyses of silver and base metals were completed by oxidising digestion with HNO3, KClO3 and HBr (ASY-ORE), with the final solution in dilute aqua regia determined by ICP-AES (ME-ICPORE). Control samples, comprising certified reference materials (CDN-ME-1811), field duplicates and blanks were inserted at 5% rate and investigated as part of the Company’s quality assurance and quality control program.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Download news release (.pdf)

Hole ID	From (m)	To (m)	Au (ppm)	Ag (ppm)	Pb (%)	Sb (%)	Zn (%)
CMVDD002	11	12	0.001	<1	<0.005	<0.005	0.009
CMVDD002	12	13	0.001	<1	<0.005	<0.005	0.007
CMVDD002	13	14	<0.001	<1	<0.005	<0.005	0.01
CMVDD002	14	15	<0.001	<1	<0.005	<0.005	0.011
CMVDD002	15	16	<0.001	<1	<0.005	<0.005	0.01
CMVDD002	16	17	<0.001	<1	<0.005	<0.005	0.01
CMVDD002	17	18	<0.001	<1	<0.005	<0.005	0.011
CMVDD002	18	19	<0.001	<1	<0.005	<0.005	0.014
CMVDD002	19	20	<0.001	<1	<0.005	<0.005	0.017
CMVDD002	20	21	<0.001	<1	<0.005	<0.005	0.012
CMVDD002	21	22	<0.001	1	0.013	<0.005	0.046
CMVDD002	22	23	<0.001	<1	0.005	<0.005	0.028
CMVDD002	23	24	0.001	<1	<0.005	<0.005	0.015
CMVDD002	24	25	0.008	<1	0.008	0.006	0.03
CMVDD002	25	26	<0.001	<1	0.005	<0.005	0.007
CMVDD002	25	26	<0.001	<1	<0.005	<0.005	0.008
CMVDD002	26	27	<0.001	<1	0.012	<0.005	0.008
CMVDD002	27	28	<0.001	<1	<0.005	<0.005	0.012
CMVDD002	28	29	<0.001	<1	<0.005	<0.005	0.01
CMVDD002	29	30	<0.001	<1	<0.005	<0.005	0.01
CMVDD002	30	31	<0.001	<1	<0.005	<0.005	0.014
CMVDD002	31	32	<0.001	<1	<0.005	<0.005	0.011
CMVDD002	32	33	<0.001	<1	<0.005	<0.005	0.01
CMVDD002	33	34	<0.001	<1	<0.005	<0.005	0.012
CMVDD002	34	35	<0.001	<1	<0.005	<0.005	0.012
CMVDD002	35	36	<0.001	<1	<0.005	<0.005	0.012
CMVDD002	36	37	<0.001	<1	<0.005	<0.005	0.013
CMVDD002	37	38	0.001	<1	<0.005	<0.005	0.011
CMVDD002	38	39	<0.001	<1	<0.005	<0.005	0.007
CMVDD002	39	40	0.001	<1	<0.005	<0.005	0.027
CMVDD002	40	41	<0.001	<1	0.005	<0.005	0.022
CMVDD002	41	42	<0.001	<1	0.009	<0.005	0.04
CMVDD002	42	43	<0.001	<1	<0.005	0.005	0.016
CMVDD002	43	44	<0.001	1	0.046	<0.005	0.125
CMVDD002	44	45	0.008	1	0.051	<0.005	0.105
CMVDD002	45	46	0.344	272	8.33	0.717	16.15
CMVDD002	46	47	0.123	16	0.217	0.165	0.379
CMVDD002	47	48	<0.001	1	0.018	<0.005	0.051
CMVDD002	48	49	0.014	<1	0.009	<0.005	0.017
CMVDD002	49	50	0.002	<1	<0.005	<0.005	0.01
CMVDD002	50	51	<0.001	<1	0.008	0.008	0.019
CMVDD002	51	52	<0.001	<1	0.005	0.006	0.016
CMVDD002	52	53	0.001	<1	0.009	<0.005	0.017
CMVDD002	53	54	0.001	<1	0.007	<0.005	0.013
CMVDD002	54	55	0.001	<1	<0.005	<0.005	0.009
CMVDD002	54	55	0.001	<1	0.005	<0.005	0.012
CMVDD002	55	56	0.001	<1	<0.005	<0.005	0.016
CMVDD002	56	57	0.007	<1	0.005	0.031	0.016
CMVDD002	57	58	0.001	<1	0.009	0.014	0.018
CMVDD002	58	59	<0.001	<1	0.006	<0.005	0.01
CMVDD002	59	60	<0.001	<1	0.007	<0.005	0.009
CMVDD002	60	61	<0.001	<1	0.009	<0.005	0.011
CMVDD002	61	62	<0.001	<1	0.008	<0.005	0.013
CMVDD002	62	63	<0.001	<1	0.009	<0.005	0.008
CMVDD002	63	64	<0.001	<1	0.005	<0.005	0.006
CMVDD002	64	65	<0.001	<1	<0.005	<0.005	0.006
CMVDD002	65	66	<0.001	<1	<0.005	<0.005	0.006
CMVDD002	66	67	<0.001	<1	0.006	<0.005	0.013
CMVDD002	67	68	0.005	<1	0.006	<0.005	0.022
CMVDD002	68	69	0.002	<1	0.005	<0.005	0.017
CMVDD002	69	70	<0.001	<1	0.006	<0.005	0.014
CMVDD002	70	71	<0.001	<1	<0.005	<0.005	0.013
CMVDD002	71	72	0.001	<1	<0.005	<0.005	0.017
CMVDD002	72	73	<0.001	<1	<0.005	<0.005	0.01
CMVDD002	73	74	<0.001	<1	<0.005	<0.005	0.009
CMVDD002	74	75	<0.001	<1	<0.005	<0.005	0.011
CMVDD002	75	76	0.001	<1	0.014	<0.005	0.022
CMVDD002	76	77	<0.001	<1	0.011	<0.005	0.03
CMVDD003	85	86	0.007	3	0.009	0.005	0.019
CMVDD003	86	87	0.03	4	0.013	0.007	0.024
CMVDD003	87	88	0.04	0.5	0.006	0.0025	0.013
CMVDD003	88	89	0.003	6	0.009	0.007	0.032
CMVDD003	89	90	0.27	9	0.021	0.023	0.075
CMVDD003	90	91	0.55	24	0.023	0.261	0.193
CMVDD003	91	92	1.3	191	2.24	2.11	1.76
CMVDD003	92	93	1.02	380	1.87	4.85	4.72
CMVDD003	93	94.3	0.06	8	0.073	0.285	0.282
CMVDD003	94.3	95.9	2.14	183	1.28	1.6	2
CMVDD003	95.9	97.7	0.223	5	0.012	0.01	0.105
CMVDD003	101.5	103	0.21	62	0.309	0.209	0.513
CMVDD003	103	104	0.09	6	0.059	0.056	0.078

Table 3. CMVDD002 and 003 drill hole assay data rounded to the nearest hundredth except for Ag which is rounded to the nearest whole number value.e 34N).

Terra Balcanica Adds Prospective Gold Exploration License to Its Serbian Portfolio

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Terra Balcanica Announces Private Placement Financing

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2022 / Oct

Terra Balcanica Adds Prospective Gold Exploration License to Its Serbian Portfolio

Vancouver, British Columbia – October 14^th 2022 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) is pleased to announce the granting of the Ceovishte exploration licence by the Serbian Ministry of Energy and Mines. The new licence held by the Company’s 100% owned subsidiary Tera Balkanika doo covers 80.36 km² of highly prospective land for gold and copper exploration in the historic Raska mining district of southern Serbia.

Highlights:

A pending application for the mineral exploration license “Ceovishte” totaling 80.36 km2 has been granted by the Ministry of Energy and Mines, Government of Serbia, increasing the Company’s total land package in Serbia to 130.36 km². The license is located 280 km south of Serbia’s capital city of Belgrade and 20 km north of the town of Raska, which is Terra’s local operating hub facilitating cost-effective exploration;
Terra is now the 2^nd largest mineral exploration license holder in the highly prospective Raska district of southern Serbia after Adriatic Metals plc. (ASX:ADT, LSE:ADT1; Figure 1). The Raska district covers over 400 km² and features many Pb and Zn deposits, Cu-Au porphyries, and satellite epithermal deposits hosted by Tertiary andesitic to dacitic volcanics and granodiorites, with a structurally controlled NNE-SSW fabric;
Compilation, digitization, and reinterpretation of the historical Yugoslavian geological maps and reports has identified a clear target zone for epithermal gold mineralization in the northwestern part of the licence. Historical, exploratory adit intercepts and rocks chip samples from Medjurečje (Figure 2), a high-grade epithermal vein gold-silver target located in the NW sector of Ceovishte, support the significant exploration potential of this licence area including:
- 4.0 meters grading 19 g/t gold (Au) and 34 g/t silver (Ag);
- 5.0 meters grading 15 g/t gold (Au);
- 9.0 meters grading 0.95 g/t gold (Au) and 36 g/t silver (Ag);
- 13.8 meters grading 1.1 g/t gold (Au);
- two subsurface rock chip samples grading 396 g/t gold (Au) plus 468 g/t silver (Ag) and 15 g/t, Au 130 g/t Ag plus 1.2% Cu.

Commenting on the acquisition of the new licence area, Aleksandar Mišković, the President and CEO of Terra Balcanica Resources Corp. stated:

We are delighted to have been granted a sizable new licence area in Serbia. Acquisition of such prospective ground is core to our strategy of building a regional, multi-jurisdictional portfolio in the Western Balkans. By bringing Ceovishte into our portfolio we expanded our Serbian footprint by 160% to 130 km² in addition to 216 km² held in Bosnia-Herzegovina at our high-grade, polymetallic Viogor-Zanik project. We are excited by the geological potential of Raska where we have now gained exposure to both gold and copper with Ceovishte. The new licence is found in the vicinity of Adriatic’s Kiževak and Sastavci Pb-Zn mines together with its Cu-focused exploration property at Suva Ruda-Rudnica and north of numerous historic lead-zinc-silver mines in the north of the Serbian province of Kosovo. Significantly, the most prospective area for high grade gold located in the northwesterly quadrant of Ceovishte is concealed by a thin overburden and has not seen any historical drill testing. This provides us with a unique exploration upside to search beneath a shallow cover resulting in quick drill target definitions. Our field crew has been dispatched to the locality to conduct sampling for soil geochemistry and we will provide updates on the field work very shortly.

Figure 1. Terra’s Ceovishte licence is situated on the northern flank of the Kopaonik metallogenic zone of southern Serbia featuring numerous mines, exploitation and exploration licences. The prospective geology is dominated by rocks of andesitic to dacitic composition.

Geological Setting of the New License

Ceovishte sits on the southern slopes of the Golija Mountain, a part of the Kopaonik metallogenic zone. This area features the Kiževak and Sastavci Pb-Zn-Ag mines including the Karadak deposit, all owned by Adriatic Metals plc. The historical Yugoslav GKZ, non-NI 43-101 compliant resource estimates for Kiževak is 3.9 Mt of ore grading 3.92% Zn, 2.15% Pb and 31 g/t Ag in the A+B+C1 categories (www.adriaticmetals-serbia.com/our-projects/adriatic-metals-serbia-sastavci). The Raska mining district also holds the Rudnica Cu-Au porphyry district and is a northerly extension of the partially exploited world class Trepča Pb-Zn-Ag skarn deposit of Kosovo, the northern Serbian autonomous province as seen in Figure 1. Trepča features a non-NI 43-101 compliant, Yugoslav resource estimated at 60.5 Mt of ore grading 8% Pb+Zn and >159 Moz of Ag.

Figure 2. The NW sector of the Ceovishte licence known as Medjurečje is characterized by a high-grade gold target that saw historical (pre-WWII) exploration conducted by underground adits and galleries which yielded high grade intercepts highlighted above. No systematic geochemical, geophysical or drill testing follow up has ever been done.

About the Company

Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Download news release (.pdf)

Terra Balcanica Announces a Grant of Stock Options

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Terra Balcanica Intercepts 465.5 g/t Silver Equivalent Over 8.7 Meters Including 1196 g/t AgEq. Over 2 Meters and Extends Cumavici Vein by 80 Meters at Viogor-Zanik in Bosnia-Herzegovina

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2022 / Oct

Terra Balcanica Announces a Grant of Stock Options

Vancouver, British Columbia – October 12^th, 2022 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) announces a grant of stock options.

The Company has engaged Crowthorn Capital Corp. (“Crowthorn”), a capital markets consultancy company for a period of twelve months starting on October 11th, 2022. There will be no cash compensation paid for the services and the contract may be terminated at any time without charge by either party by giving three months’ notice in writing. In connection with the engagement of Crowthorn, the Company announces that 250,000 incentive stock options (the “Options”) were granted with an exercise price of $0.10 per Common Share and with an exercisable period of two years from the date of issuance.

About the Company

Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
“Aleksandar Mišković”

Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Download news release (.pdf)

Terra Balcanica Extends Massive Sulfide Mineralization With Two Step Out Holes at Its Viogor-Zanik Project in Bosnia

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Terra Balcanica Adds Prospective Gold Exploration License to Its Serbian Portfolio

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2022 / Sep

Terra Balcanica Extends Massive Sulfide Mineralization With Two Step Out Holes at Its Viogor-Zanik Project in Bosnia

Vancouver, British Columbia – September 20th 2022 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) is pleased to announce an extension of polymetallic sulphide veins with two step-out holes at the Čumavići Target at its 90% owned Viogor-Zanik project, Bosnia and Herzegovina.

Highlights:

Extension of shallow epithermal vein system: drillhole CMVDD001 intercepted 824.2 g/t AgEq. over 4.0 meters while CMVDD002 and CMVD003 aimed to test the down-dip extensions of the high-grade polymetallic vein;
An 83 m step out CMVDD003 also intercepted massive sulfides (Figure 1);
Larger vein thickness: intervals contain up to 11 meters of visible sphalerite-galena-stibnite mineralization with the system remaining open;
Assay results from CMVDD002 and CMVDD003 will be released shortly.

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments:

The intersection of more vein hosted mineralization over 80 meters away from the initial high-grade drill hole at Cumavici is very encouraging and confirms the potential size of this shallow epithermal system. The visible signatures seen are analogous to polymetallic epithermal vein systems elsewhere in the Balkans featuring sphalerite, galena, and stibnite. We are encouraged by the first three holes and plan to aggressively delineate the full extent of the Cumavici target along the 7.2 km long structural corridor and will release the assay results in the next few weeks.

Drill Core Observations

Terra Balcanica commenced the maiden drilling program by confirming the presence of a high-grade polymetallic vein system at the Cumavici Target (see Company’s news release dated September 8^th, 2022). Observations of two further drillholes detailed below extends the high-grade polymetallic mineralization down dip by over 70 meters (measured distance in section) and reports thicker visible vein structures.

Hole CMVDD002 intercepted a shallow semi-massive sulphide vein dominated by colloform-crustiform banded sphalerite-galena at 45 meters depth. The vein footwall hosts an interval of quartz-stibnite-sphalerite veinlet stockwork. Similar textures are observed in previously reported drillhole CMVDD001.

Hole CMVDD003 intercepted 9 meters of visible massive sulphides in a vein within a hydrothermally altered andesitic tuff. 2 meters of semi-massive sulphides are observed from 91 meters depth with stringers extending up into the hanging wall for 2 meters. The veins are composed of stibnite, sphalerite, and galena with rare chalcopyrite. Intervals of hydrothermal breccia are present with colloform banded sphalerite-galena dominating the cement phase.

Ongoing Exploration Program

Following positive visual observations in the core from CMVDD001 (see Company’s news release dated August 23^rd, Following positive visual observations in the core from CMVDD001 (see Company’s news release dated August 23rd, 2022) two further drillholes, CMVDD002 and CMVDD003, were drilled from different pad locations over 80 meters away with the goal of testing the down-dip extension and continuity of the high-grade polymetallic vein.

Future drilling efforts at the project will aim to test the continuity of the 7.2 km long Cumavici polymetallic vein system along strike and down dip (Figures 1 and 2).

Figure 1. Geological map of the Čumavići volcanics hosting the epithermal vein system with drillholes CMVDD002, CMVDD003 highlighted

Figure 2. A conceptual cross section view of drillholes CMVDD001 – CMVD003 looking NW. Descriptions of the intervals are present. Mineralisation is open down-dip to the SW and along strike NW-SE. Interval thicknesses are drilled lengths and not true thicknesses

Figure 3. Photograph of 44.3 – 48.0 m in drillhole CMVDD002. Orange, brown colloform banded sphalerite can be observed with galena in polymetallic vein. Photo 2 is outlined by white rectangle.

Figure 4. Photograph of 45.35 – 45.50 m in drillhole CMVDD002. Orange, brown colloform-crustiform banded sphalerite and galena can be observed with weakly brecciated lower vein contact with andesitic tuff.

Figure 5. The CMVDD003 drill core from 90.1 to 92.9 m. Hanging wall stringers and semi-massive sulfide veins are observed. Details of the dashed rectangle are outlined in Figure 4.

Figure 6. The CMVDD003 drill core segment from 92.4 to 92.6 m with semi-massive sphalerite-stibnite-galena-pyrite-pyrrhotite assemblage along the vein-tuff contact

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

Download news release (.pdf)

Terra Balcanica Confirms Cumavici Vein Discovery and Reports 824.2 g/t Silver Equivalent Over 4.0 Metres Within Its Viogor-Zanik Project in Bosnia

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Terra Balcanica Announces a Grant of Stock Options

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2022 / Sep

Terra Balcanica Confirms Cumavici Vein Discovery and Reports 824.2 g/t Silver Equivalent Over 4.0 Metres Within Its Viogor-Zanik Project in Bosnia

Vancouver, British Columbia – September 8th 2022 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) is pleased to announce the results of its maiden drilling at the Cumavici prospect at its 90% owned Viogor-Zanik project, Bosnia and Herzegovina. The Company intercepted a shallow, high-grade polymetallic vein with the first drillhole completed on the project.

Highlights:

Discovery of shallow, high-grade, polymetallic, vein-hosted mineralization;
Drillhole CMVDD001 intercepted 824.2 g/t AgEq. over 4.0 m from 29 m of depth, including 1,634.4 g/t AgEq. over 2.0 meters;
Results confirm the shallow nature of the Cumavici corridor where much of the 7.2 km NW-SE strike length remains untested;
Over 1,000 meters of assays are pending from the Cumavici target area; further assays will be released over the coming month and a half.

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments:

The intercept of the Cumavici vein is an important milestone for Terra Balcanica after over 18 months of systematic surface geology and drill target generation. High grade polymetallic assays close to surface confirm the macroscopic observations of massive Pb-Zn-Sb sulfides and warrant down-dip as well as along-strike step outs to delineate the size of this epithermal system. As an early mover in Bosnia and Herzegovina, we are looking forward to following the success of Adriatic Metals in applying modern exploration in an underexplored country with prospective ground. We eagerly await assay results from additional drill holes which will be reported once received.

Drill Results

Drillhole	From (m)	To (m)	Length (m)	Ag (g/t)	Au (g/t)	Pb (%)	Sb (Zn)	Zn (%)	AgEq (g/t)
CMVDD001	29	33	4.0	131.5	0.84	2.12	1.85	4.59	824.2
including	30	32	2.0	261.0	1.62	4.2	3.70	9.10	1634.4
	43	48	5.0	26.1	0.13	0.09	0.18	0.14	78.7
	46	48	2.0	62.5	0.21	0.19	0.42	0.29	172.6

Table 1. Assay results of key mineralised intervals for diamond drillhole CMVDD001. Interval lengths reported are drilled lengths, not true widths. Silver equivalents (“AgEq”) are based on assumed metal prices of US$1,950/oz for gold (Au), US$18.00/oz for silver (Ag), US$1.00/lb for lead (Pb), US$4.50/lb for antimony (Sb) and US$1.50/lb for zinc (Zn). The calculations assume 100% metallurgical recovery, indicative of gross in situ metal value.

CMVDD001: Results corroborate observations of colloform banded sphalerite-galena-stibnite with high grade Ag-Au-Pb-Zn-Sb mineralization. Detailed observations and photographs of the mineralized interval were reported in the Company’s news release dated August 23rd, 2022.

The Company is continuing to test the mineralization down dip and along strike thus building the geological model around the high-grade Ag-Au-Pb-Zn-Sb target.

Figure 1. Plan view of the diamond drillhole CMVDD001 targeting shallow polymetallic mineralization hosted by felsic volcanics and tuffs at the Cumavici Ridge locality.

Figure 2. A northwest oriented, conceptual cross section map of the Cumavici Ridge location depicting the drillhole CMVDD001 with assay results reported in AgEq as per Table 1.

Figure 3. Geological map of the 3-licence, 216 km² Viogor Zanik project cluster in eastern Bosnia with the Cumavici prospect in its NW sector. The Sase mine (Mineco Ltd.) producing 330,000 tpa of Pb-Zn-Ag concentrate is located at the centre of Terra Balcanica’s exploration portfolio.

Figure 4. CMVDD001 interval from 30.8 to 31.0 m. Colloform banded sphalerite with galena aggregates cut by a sphalerite-stibnite-galena vein (2 cm scratcher tip for scale).

Figure 5. CMVDD001 PQ-sized interval from 31.45 to 31.68 m features sulphide cemented breccia, semi-massive grey sphalerite with galena-stibnite-pyrite (2 cm scratcher tip for scale).

Hole ID	UTM (E)	UTM (N)	Elevation (m)	Dip (deg.)	Azimuth (deg.)	Depth (m)	Recovery (%)
CMVDD001	360200	4888527	606	-85	045	73.5	94.5

Table 2. The drill hole collar location at the Cumavici Ridge target (WGS84; UTM Zone 34N).

QA/QC

One metre long, composite core samples were delivered to ALS Bor, Serbia for sample preparation and wet chemical analysis at the ALS Loughrea, Ireland, an ISO/IEC 17025:2017 certified laboratory. Sample preparation PREP-31BY method was used on all core samples by crushing to 70% less than 2 mm, rotary split 1 kg and pulverizing the split to greater than 85% passing 75 μm. Gold was assayed by 30g fire assay with ICP-AES finish (Au-ICP21). Over limit samples returning > 10 ppm gold are re-analysed using a 30g fire assay with gravimetric finish (Au-GRA21). Analyses of silver and base metals were completed by oxidising digestion with HNO3, KClO3 and HBr (ASY-ORE), with the final solution in dilute aqua regia determined by ICP-AES (ME-ICPORE). Control samples, comprising certified reference materials (CDN-ME-1811), field duplicates and blanks were inserted at 5% rate and investigated as part of the Company’s quality assurance and quality control program.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra and Ceovishte mineral exploration licences in Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

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Terra Balcanica Intercepts Shallow Polymetallic Vein at Cumavici Within Its Viogor-Zanik Project In Bosnia-Herzegovina

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Terra Balcanica Extends Massive Sulfide Mineralization With Two Step Out Holes at Its Viogor-Zanik Project in Bosnia

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2022 / Aug

Terra Balcanica Intercepts Shallow Polymetallic Vein at Cumavici Within Its Viogor-Zanik Project In Bosnia-Herzegovina

Vancouver, British Columbia – August 23rd 2022 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) is pleased to announce an intersection of massive polymetallic sulphide vein at the Cumavici target located within its 90% owned Viogor-Zanik project, Bosnia and Herzegovina.

Highlights:

The first diamond drillhole (Drillhole CMVDD001) completed by the Company at the Viogor-Zanik project discovered a shallow polymetallic, epithermal vein at the Cumavici target located in the NW sector of the project (Figure 1)
Massive sulfide veins were intercepted as shallow as 29 meters depth; two intervals of massive sulfide veining dominated by colloform banded sphalerite, galena, and stibnite;
Cumavici vein system is over 7.2 km in length and open along strike and down-dip;
Assays from current drilling will be released shortly

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments:

The presence of a shallow, polymetallic, massive sulphide, vein-hosted system at Cumavici confirms our detailed targeting over the past 20 months. The Viogor-Zanik projects hosts epithermal and porphyry targets that are being tested by our inaugural drill program. Cumavici is a 7.2 kilometers zone of mapped intermediate sulfidation veins and our focus is to define the extents of the mineralized footprint. We are eagerly awaiting the laboratory assays which should be released shortly.

Target Introduction: Cumavici

Cumavici is an intermediate sulfidation, epithermal vein system situated 6.2 km northwest of the Company’s Olovine target, and 6.7 km west-northwest of the operating Sase Mine (owned and operated by Mineco plc.) which produces approximately 330,000 tonnes of lead-zinc-silver-gold concentrate per year. Cumavici has been defined as a 7.2 km northwest-southeast corridor outlined by structural mapping, soil geochemistry, and geophysics.

Surface sampling at Cumavici conducted by the company over the past 18 months illustrated the potential for high-grade, laterally extensive system. A rock chip sample 100668 collected ca. 3 km SE of CMVDD001 yielded 0.327 g/t Au, 31.7 g/t Ag, 2.2% Pb and 20.1% Zn.

Drill Core Observations – CMVDD001

Drill hole CMVDD001 confirmed the presence of a polymetallic vein system and intercepted two distinct zones of sulphide veining within Miocene volcanic breccias. Intervals of sulphide-cemented hydrothermal breccia commences at only 29-meter depth.

Vein-hosted, microcrystalline colloform banded sphalerite and coarse galena is present at 31 meters followed by massive stibnite, sphalerite, and breccia to 32 meters. Sulphide veinlets extend into the footwall to 33 meters depth and a further zone of disseminated sulphide is present from 43 meters to depth of 48 meters. Banded veins indicate sustained fluid flow through structures, with additional fluid pervasively altering and precipitating disseminated massive sulfides within the andesitic tuffs and volcanic breccias.

Textural information points to sustained, polyphase fluid flow through the targeted structure which remains open along strike and depth.

Figure 1. Geological map of the 3-licence, 216 km2 Viogor Zanik project cluster in eastern Bosnia with the Cumavici prospect/licence in its NW sector. The Sase mine (Mineco Ltd.) producing 330,000 tpa of Pb-Zn-Ag concentrate is located at the centre of Terra Balcanica’s exploration portfolio.

Figure 2. Geological map of the Cumavici volcanics hosting the epithermal vein system with the drillhole CMVDD001 collared at 045°/-85°.

Figure 3. CMVDD001 drill core from 30.1 to 32.6 m showing sulphide cemented breccia and semi-massive sulphides. Details of dashed rectangles are outlined in Photo 2 and 3 below.

Figure 4. CMVDD001 interval from 30.8 to 31.0 m. Colloform banded sphalerite with galena aggregates cut by a sphalerite-stibnite-galena vein (2 cm scratcher tip for scale).

Figure 5. CMVDD001 PQ-sized interval from 31.45 to 31.68 m features sulphide cemented breccia, semi-massive grey sphalerite with galena-stibnite-pyrite (2 cm scratcher tip for scale).

Current Drill Program

Hole CMVDD001 was designed to test the presence of a NW-SE striking vein system and dipping to the SW with the regional structural trend. There are numerous planned step-out pad locations to the NW to test the system along strike.

Future drilling efforts will test the continuity of the polymetallic vein system along strike and down dip (Figure 3). Additionally, Terra Balcanica continues to generate drill targets within various sectors of the prospective Cumavici corridor for further shallow polymetallic vein intercepts to the NW and SE.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra mineral exploration licence in Serbia and has a pending exploration license at the Ceovishte property in Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

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Terra Balcanica Discovers Gold On Surface at Brezani Target Within Viogor-Zanik Project in Bosnia

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Terra Balcanica Confirms Cumavici Vein Discovery and Reports 824.2 g/t Silver Equivalent Over 4.0 Metres Within Its Viogor-Zanik Project in Bosnia

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2022 / Aug

Terra Balcanica Discovers Gold On Surface at Brezani Target Within Viogor-Zanik Project in Bosnia

Vancouver, British Columbia – August 17th 2022 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) is pleased to announce the results of exploration trenching at the Brezani target at its 90% owned Viogor-Zanik project in Bosnia and Herzegovina.

Highlights:

All composite assays obtained from 4 surface trenches totaling 205 m at the greenfield Brezani target intercepted gold mineralization;
- Trench BRE_004 returned 32 m at 0.54 g/t AuEq. including 10 m at 1.01 g/t AuEq.;
Gold-silver-zinc-copper mineralization is confirmed over a 255 m by 220 m area and open along strike within an 850 m gold-in-soil anomaly;
Trenching is centred on a 1.2 km wide magnetic high coincident with a strong conductivity anomaly open at depth; this key geochemical and geophysical target will be drill-tested in the current program;
Diamond drilling at Brezani has commenced and assays will be released shortly.

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments:

Brezani is an exciting greenfield target discovered by our team in 2021 based on systematic soil sampling and geophysics. The follow up trenching has confirmed significant gold intercepts at surface that may be part of a much larger sulfide mineralized system at depth, which is implied by a 1.2 kilometer wide magnetic and conductivity anomaly. We have now advanced the Brezani target to the drill-testing stage, and assays from our first hole will be released shortly.

Results

Trench ID	From (m)	To (m)	Lenth (m)	Au (g/t)	Ag (g/t)	Cu (%)	Zn (%)	AuEq. (g/t)
BRE_TR_001	0	48	48.0	0.11	0.11	0.015	0.04	0.15
including	30	34	4.0	0.38	0.13	0.007	0.06	*0.42*
BRE_TR_002	0	4	4.0	0.35	3.51	0.018	0.05	0.43
BRE_TR_003	0	34	34.0	0.14	0.58	0.007	0.04	0.17
including	28	34	6.0	0.27	0.19	0.003	0.08	*0.31*
BRE_TR_004	20	52	32.0	0.49	0.51	0.009	0.08	0.54
including	28	38	10.0	0.96	0.20	0.008	0.07	*1.01*

Table 1. Principal composite assay intervals for the Brezani surface trench samples. Gold equivalents (“AuEq.”) are based on assumed metal prices of US$1,950/oz for gold (Au), US$18.00/oz for silver (Ag), US$4.00/lb for copper (Cu) and US$1.50/lb for zinc (Zn). The calculations assume 100% metallurgical recovery and are indicative of gross in situ metal value. All values are rounded to nearest hundredth except for Cu which is rounded to a thousandth %.

Figure 1. Tethyan metallogenic belts of the Balkans with the Terra Balcanica project locations. Key projects to note include the 7.3 Mt @ 485 g/t AgEq. Vares silver project in Bosnia owned by Adriatic Metals (ASX:ADT), 1.8 Bt @ 0.86% Cu Cukaru Peki deposit in Timok, Serbia (Zijin Mining), and the 16.8Moz Au Kişladag project in Turkey and 568 Mt @ 0.35% Cu and 0.47 g/t Au Skouries project in Greece owned by Eldorado Gold (TSX:ELD).

Brezani Target – Introduction

The Viogor-Zanik project is located within the Oligo-Miocene Srebrenica Magmatic Complex (“SMC”). SMC is situated at the far northwestern extent of the Serbo-Macedonian Metallogenic Province (“SMMP”). This prolific metallogenic province is host to several world class Au-Ag-Cu-Pb-Zn deposits (Figure 1).
The Brezani target is located 8.4 km south of the operating Sase Mine (Figure 2), which is owned and operated by Mineco Ltd., a private mining company. The Sase Mine produces approximately 330,000 tonnes of lead-zinc-silver-gold concentrate per year.
Brezani hosts several components of a large magmatic-hydrothermal system. It was a greenfield discovery made by the Company after applying modern exploration techniques over the 2020-2022 period including geochemical, geophysical, and structural analysis.
- Soil sampling was completed on a 125m x 125m grid and defined a geochemical anomaly for detailed geological mapping. An extensive package of hornfels was subsequently identified in contact with diorite and granodiorite intrusive rocks.Soil sampling was completed on a 125m x 125m grid and defined a geochemical anomaly for detailed geological mapping. An extensive package of hornfels was subsequently identified in contact with diorite and granodiorite intrusive rocks.
- Geophysical analysis including 1331-line km airborne magnetic and electromagnetic surveys completed in 2021 identified a 1.2 km magnetic high anomaly that may be a proxy for a much larger mineralized system at depth (Figure 3).
- Trenches were completed to expose bedrock at the inferred hornfels-intrusive contact. Sphalerite and chalcopyrite bearing calc-silicate hornfels and banded exoskarns are observed coincident with Au-Bi-Te-Zn soil geochemical anomalies, marking a contact metasomatic halo. Sulfides are disseminated and lamination parallel. Pervasively argillic altered volcanics and vuggy silica are noted in the trenches indicating a shallow level of erosion (Figure 4 and 5).

Figure 2. Geological map of the 216 km2 Viogor Zanik project with the Brezani target in the southeastern part of the project. The other key identified targets within the project are Olovine and Čumavići. The Sase mine (Mineco Ltd.) produces 330,000 tpa of Pb-Zn-Ag concentrate and is located at the centre of Terra Balcanica’s project.

Figure 3. Geological map of Brezani outlines the trenching centred upon the geochemical and 1.2 km wide, subsurface magnetic anomaly. BRE_DD_001 is the collar location of the initial drillhole planned to test the Brezani target where drilling has commenced.

Figure 4. Plan view of Brezani AuEq. intercepts as strip logs on surface geology (scale 1:800).

Figure 5. Systematic logging and composite sampling along 2-m deep and 80 cm wide exploration trenches at Brezani revealed argillically altered (grano)diorites as vuggy residual quartz (A) and calc-silicate hornfels (B) with disseminated and lamination parallel sulfides.

Trench ID	Easting	Northing	Elevation (m)	Azimuth	Length (m)
BRE_TR_001	368490	4880021	893	175	48
BRE_TR_002	368495	4879973	885	184	30
BRE_TR_003	368494	4879954	848	297	34
BRE_TR_004	368516	4879975	890	285	60

Table 2. The Brežani trench collar survey information (WGS84; UTM Zone 34N).

QAQC

Two-meter composite lithic samples were delivered to ALS Bor, Serbia for sample preparation and subsequent wet chemical analysis at the ALS laboratory Loughrea, Ireland, an ISO/IEC 17025:2017 certified testing laboratory. Sample preparation PREP-31BY method was used on all rock samples. This involved crushing to 70% less than 2 mm, rotary split 1.0 kg and pulverizing the split to greater than 85% passing 75 microns. Silver and base metals were analysed by ICP MS after a four-acid digest (ME-MS61). Gold was assayed by 30g fire assay with ICP AES finish (Au-ICP21). Over limit samples returning greater than 10 ppm gold are re-analysed using a 30g fire assay with gravimetric finish (Au-GRA21) and base metals by the four-acid digest ICP-AES analyses termed ME-OG62. Control samples comprising the certified reference material CDN-ME-1501 (Canadian Resource Laboratories Ltd.), field duplicates and blanks were inserted at 3% rate and investigated as part of the company’s quality assurance and quality control program.

Qualified Person

Dr. Aleksandar Mišković, P.Geo, is the Company’s designated Qualified Person for this news release within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects (“NI 43-101”) and has reviewed and validated that the information contained in this news release as accurate.

About the Company

Terra Balcanica is a polymetallic exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina, 100% of the Kaludra mineral exploration licence in Serbia and has a pending exploration license at the Ceovishte property in Serbia. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety and environmental management.

On Behalf of the Board of Directors

Terra Balcanica Resources Corp.
Aleksandar Mišković
President and CEO

For further information, please contact Aleksandar Mišković at amiskovic@terrabresources.com, or visit our website at www.terrabresources.com.

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Terra Balcanica Announces Results Of 2022 Annual General Meeting and Appoints New Director

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Terra Balcanica Intercepts Shallow Polymetallic Vein at Cumavici Within Its Viogor-Zanik Project In Bosnia-Herzegovina

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2022 / Aug

Terra Balcanica Announces Results Of 2022 Annual General Meeting and Appoints New Director

Vancouver, British Columbia, Aug. 16, 2022 (GLOBE NEWSWIRE) — Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) announces that shareholders voted in favor of all resolutions presented in its management information circular at the Annual General Meeting of Shareholders (the “Meeting”) held on August 15th, 2022. A total of 20,252,760 common shares were voted at the Meeting, representing 27.55% of the votes attached to all outstanding common shares with all resolutions passing with 100% approval.

Terra is pleased to welcome Mr. Steven Latimer, ICD.D, CFA, MBA to the Board of Directors. Mr. Latimer is a global investment banking and capital markets professional with over 30 years of experience. A leader with an expansive history of leading financing transactions for mining companies via IPOs, equity, debt and royalty financings, private placements, and joint ventures for both junior and large multi-national mining companies.
In addition, Steven has extensive experience in leading complex cross-border advisory transactions. He is currently Managing Director and Head of London-based Bacchus Capital’s North American Investment Banking and Merchant Capital Business. From 2012-2020, Steve was Head of Jefferies’ Canadian Investment Banking Business and President of Jefferies Securities Inc. and prior to that, he was Head of Credit Suisse’s Canadian Investment Banking Metals and Mining Group and in senior leadership roles at UBS (Bunting Warburg). Steven is a CFA Charterholder and hold the Institute of Corporate Directors (ICD.D) director designation. Mr. Latimer received his MBA from the Kellogg Graduate School of Management at Northwestern University and an HBA from the University of Western Ontario.

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments:

“Terra is truly fortunate to add Mr. Latimer to the echelons of its senior management team. Steve has been a supporter of the Company and shares the common vision of Terra as both an agile regional explorer and an early mover into Bosnia and Herzegovina. His capital markets expertise and knowledge of the resources sector from both sides of the Atlantic will serve us well during the next phase of the corporate development. I wholeheartedly welcome Mr. Latimer to Terra’s Board of Directors in anticipation of an exciting quarter and the year ahead.”

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Terra Balcanica Provides Project Update and Announces Positive Change to Bosnian Exploration Act

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Terra Balcanica Discovers Gold On Surface at Brezani Target Within Viogor-Zanik Project in Bosnia

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2022 / Jul

Terra Balcanica Provides Project Update and Announces Positive Change to Bosnian Exploration Act

Vancouver, British Columbia – July 18^th, 2022 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) announces the enactment of a new legislative framework in Bosnia and Herzegovina positively impacting its mineral exploration concessions and provides an update on its flagship Viogor-Zanik polymetallic project.

Project Update

The Company has completed 205 m of exploration trenching at the newly discovered Brežani target while commencing an inaugural 3,500 m diamond drill program to test a series of high-grade silver-gold-lead-zinc prospects hosted in both epithermal veins and disseminated gold-copper mineralization. The results from trenching and drilling will be released shortly.

New Mineral Exploration Act in Bosnia and Herzegovina

In the last parliamentary session before the upcoming elections in October 2022, lawmakers of the Republic of Srpska (“RS”) in Bosnia and Herzegovina passed a legislation on mineral exploration that updated the Act that has been in existence since 2015. The government proposed an extension to mineral concession rights which was overwhelmingly approved by the RS parliamentarians on June 23rd , approved by the Parliamentary Assembly of Bosnian and Herzegovina on June 29th , and became law on July 14th , 2022.

The most significant improvement within the new regulatory framework is the extended length of time allowed for exploration of mineral resources by exploration licence holders on the territory of the Republic of Srpska. Exploration companies can now extend concessions twice for a maximum term of 8 years according to a 3 year + 3 year + 2 year scheme. The new concession period replaces the previously mandated maximum of 4.5 years of exploration activities during which a measured and indicated resource was mandated before converting mineral exploration licences to mining concessions. The new law extends the period of time to conduct exploration work prior to delivering a potential resource estimate.

Dr. Aleksandar Mišković, the President and CEO of Terra Balcanica Resources Corp. comments: “The newly enacted regime on exploration of mineral resources in the Republic of Srpska is a positive development for the legislative mining framework in Bosnia and Herzegovina benefitting Terra Balcanica. The total extended mineral concession term of 8 years ensures that companies are afforded sufficient time to drill prospective targets prior to advancing into the mineral resource stage. The Republic of Srpska in Bosnia has many areas of highly fertile exploration ground where Terra Balcanica covers 216 km 2 at its flagship Viogor-Zanik project.”

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Terra Balcanica Announces Further Voluntary Escrow, Engagement Of IR Consultant, and Grants Stock Options

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Terra Balcanica Announces Results Of 2022 Annual General Meeting and Appoints New Director

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2022 / Jun

Terra Balcanica Announces Further Voluntary Escrow, Engagement Of IR Consultant, and Grants Stock Options

Vancouver, British Columbia – June 22^nd, 2022 – Terra Balcanica Resources Corp. (“Terra” or the “Company”) (CSE:TERA) announces the execution of further voluntary escrow agreements with key strategic shareholders, engagement of an IR consultant, and grants stock options.

Voluntary Escrow

In addition to the Canadian Securities Exchange (“CSE”) and British Columbia Securities Exchange (“BCSC”) escrow provisions, the Company has executed further voluntary escrow agreements for an additional 5,430,625 shares with 12-month or 36-month release schedules from key strategic shareholders and close associates. The Company currently has 73,512,223 issued and outstanding common shares, with 34,800,001 shares, or 47.3%, escrowed or voluntary escrowed with 12-month or 36-month release schedules.

Option Grant

The Company announces the grant of 1,995,000 incentive stock options (the “Options”) to certain advisors, employees, and consultants in accordance with the Company’s stock option plan (the “Option Plan”). The Options are exercisable for C$0.20 per common share for periods ranging from 2 years to 5 years from date of issuance.

Engagement of IR Consultant and Grant of Stock Options

The Company has engaged Paradox Public Relations Inc. (“Paradox”) for a 36 month period that began on June 22, 2022 and ends on June 22, 2025 and may be terminated at any time without charge by either party by giving 30 days’ notice in writing. Paradox will provide marketing and investor relation services to the company to increase public awareness. Paradox has been granted 500,000 options, with 125,000 options vesting quarterly for the next year, eligible to be exercised at a price of C$0.20 per common share for a period of 36 months from the date of issuance. Paradox is being paid a monthly fee of C$10,000.

Carl Desjardins is the Managing Partner of Paradox and has been a promoter of Terra Balcanica within the past two years, and as a result is a Related Party (as such term is defined in Policy 2 of the CSE) to the Company.

All securities issued to Paradox are subject to a four month hold period from the date of issuance, in accordance with the policies of the CSE.

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Terra Balcanica to Commence Trading On Canadian Securities Exchange

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Terra Balcanica Provides Project Update and Announces Positive Change to Bosnian Exploration Act

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2022 / Jun

Terra Balcanica to Commence Trading On Canadian Securities Exchange

Terra Balcanica Resources Corp. (the “Company”) is pleased to announce that it has received final approval to list its common shares (the “Common Shares“) on the Canadian Securities Exchange (the “CSE”). The Common Shares will commence trading under the trading symbol “TERA’ on June 20th, 2022.

The Company is a mineral exploration company principally engaged in the exploration and development of its advanced exploration property located in eastern Bosnia and Herzegovina. The Company also seeks to identify, investigate, evaluate and acquire other mineral property opportunities located in the Balkan region of Eastern Europe, and currently has one mineral property under option in Serbia, as well as an additional application for a mineral exploration license in Serbia. It is the intention of the Company to build a portfolio of properties in the Balkan region.

For further information concerning the Company and its business, please see the long form prospectus dated June 1, 2022 (the “Prospectus”) supporting its application for listing on the CSE. A copy of the Prospectus was filed under the Company’s profile at www.sedar.com.

In connection with the CSE listing, the Company also announces that 3,900,000 incentive stock options (the “Options”) were granted to directors, officers and consultants of the Company in accordance with the Company’s stock option plan (the “Option Plan”), as described in the Prospectus. The Options have an exercise price of $0.20 per Common Share and are exercisable for a period of five years from the date of listing.

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Planet Earth Day

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Terra Balcanica Announces Further Voluntary Escrow, Engagement Of IR Consultant, and Grants Stock Options

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2022 / Apr

Planet Earth Day

Тogether with the Srebrenica municipal partners (mayor’s office, fire brigade, local tourist office and mountaineering conservationalists from the “Sušica” association), Drina’s staff lead the way on Friday by cleaning up the town center, the wider Potočari area, elementary and high school yards as well as the protected Guber Spa zone. We had fun removing debris from creek beds, planting trees and collecting litter anywhere we found it all while engaging and educating the town’s future generations (ages 4 to 15) about the importance of environmental protection and… mining, of course!
The turnout was impressive with over 250 citizens taking part in a call to action which we hope will become a monthly event.

Second Townhall Meeting Held in Srebrenica

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Terra Balcanica to Commence Trading On Canadian Securities Exchange

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2021 / Dec

Second Townhall Meeting Held in Srebrenica

Terra Balcanica Resources Corp. will hold a townhall meeting in Srebrenica, RS, Bosnia and Herzegovina on Monday, the 6th of December at 17:00 hrs CET. This will be an opportunity to host the local partners and regional stakeholders in our new core shed facility and present our 2022 field plans for the Viogor-Zanik project.

Drina Resources Team Expands

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Planet Earth Day

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2021 / Dec

Drina Resources Team Expands

Drina Resources d.o.o. Srebrenica is delighted to announce the appointment of Mike Kelly, MSc as an exploration geologist deployed on our principal exploration property in eastern Bosnia. Mike joins forces with Sam Vaughan, MSc who became a member of Drina’s technical team in July and together with the hire of Nicola Kern, MSc in May completes our international roster for 2021. Combining forces with David Odalović, a junior exploration geologist and Aleksandar Cvejović a geospatial analyst from Serbia, the three geologists who come with international experience acquired in the UK, Turkey, Switzerland and Greenland where they worked on various types of hydrothermal mineralized systems will form the key technical team in charge of the upcoming drilling programs across our Bosnian and Serbian portfolio of licences.

Tera Balkanika joins the Geological and Mining Association of Serbia

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Second Townhall Meeting Held in Srebrenica

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2021 / Sep

Tera Balkanika joins the Geological and Mining Association of Serbia

We are pleased to announce that our Serbian subsidiary Tera Balkanika doo Beograd has joined the Geological and Mining Association of Serbia (GRAS). It is an exciting time ahead for Terra in both Bosnia and Serbia thus becoming a member of a local professional society focused on promoting best mineral exploration practices, community relations, environmental protection and a sustainable economic development is perfectly timed. We are excited to contribute to the promotion of the 21st century mining in Serbia and Western Balkans.

EBS at Viogor-Zanik Completed

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Drina Resources Team Expands

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2021 / Aug

EBS at Viogor-Zanik Completed

Being a part of Terra Balcanica Resources group means being committed to protecting the environment where we operate and maintain good stewardship for the long-term benefit of all our stakeholders. Our goal is to prevent, or otherwise minimize, mitigate, and remediate the effects that our operations have on communities and the biosphere. As such, Drina Resource doo Srebrenica commissioned and executed a baseline environmental study over the spatial extent of the Viogor-Zanik project as the first and crucial step in the continuum of natural stewardship. The Institute for Ecology and Public Health of the Republic of Sprska, Bosnia and Herzegovina collected over 30 soil, ground and running water as well as air quality samples at 6 locations to serve as an official environmental reference.

Kaludra Project Update

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Tera Balkanika joins the Geological and Mining Association of Serbia

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2021 / Jul

Kaludra Project Update

A steady progress is being made at Tera Balkanika doo Beograd Kaludra polymetallic exploration licence of the SW Serbia’s Raška mining district (the Kopaonik metallogenic zone). In conjunction with soil geochemistry data, the first phase of our 66 km ground, high resolution, poly‐dipole IP/Resistivity study (12 dipole/50 m spacing) by Turkish Enerson Engineering will provide chargeability targets for a preliminary 1,500 m drilling campaign expected to commence in Q1 of 2022. We are proud of our field team which blazed the lines and has been safely executing this important study over a challenging topography and frequently unforgiving bush.

Airborne Survey Completed

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EBS at Viogor-Zanik Completed

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2021 / May

Airborne Survey Completed

Drina Resources is happy to announce a safe and successful completion of a 1,350-line km, combined airborne magnetic and electro-magnetic survey over the flagship Viogor-Zanik project. Conducted by the Danish SkyTEM operators and piloted by the capable Walter Koopmann of Koopmann Helicopter GmbH, the 80 m above ground study will penetrate to an average depth of 400 m and serve as another layer of evidence in our targeting endeavor. Data processing and 3D inversion of EM data will be performed by Todd Ballantyne, a geophysicist with over 3 decades of experience in data processing and interpretation.

Another Exploration Licence Granted

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Kaludra Project Update

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2021 / Mar

Another Exploration Licence Granted

We are delighted to announce that Drina Resources d.o.o Banja Luka was granted another exploration licence in the Srebrenica mining district of eastern Bosnia. The Republic of Srpska Ministry of Mines granted an area of 49 km2, internally named Čauš, to the Company for the purpose of exploring polymetallic resources. This competes our land tenure package and a hold over the prospective magmatic complex hosting the operating Sase mine and featuring the target, Oligo-Miocene host lithologies.

Additionally, our field teams have been deployed anew to execute on a 1,750-sample soil sampling program covering the majority of the Čumavići and Olivine licences. The survey was conducted on a 250×250 m grid combined with a ridge-and-spur sampling at the eastern Olovine target near the locality of Brezovice. The soil samples processed by the regional ALS Global office in Bor, Serbia where they are subject to aqua regia digest followed by an ICP MS analysis coupled with a fire assay Au finish.

Field Work Commenced

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Airborne Survey Completed

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2020 / Oct

Field Work Commenced

Drina Resources d.o.o. Banja Luka, a wholly owned subsidiary of Terra Balcanica Resources Corp., commenced field work on its two exploration licenses in eastern Republic of Srpska, Bosnia and Herzegovina. A team of five exploration geologists coupled with five geotechnicians well versed in the procedures of systematic stream sediment sampling will traverse the area of 150 km2 collecting 3-4 kg samples of -8 mesh size fraction while getting acquainted with the basement and intrusive lithologies of the Srebrenica Magmatic Complex. This first-pass geochemical targeting will narrow down the primary zones of interest to be followed up by soil and rock chip sampling and detailed mapping.

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Another Exploration Licence Granted

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