Dr. Aleksandar Miskovic reports

TERRA BALCANICA SPIN OFF TERRA NORTH RESOURCES CORP. TO START AIRBORNE GEOPHYSICS OVER CHARLOT-NEELY LAKE CLAIMS IN SASKATCHEWAN

Terra North Resources Corp., a private company incorporated under the laws of British Columbia in which Terra Balcanica Resources Corp. owns 39.5-per-cent equity, has engaged Special Projects Inc. (SPI) (based in Calgary, Alta.) to conduct a combined radiometric and magnetic survey at its flagship Charlot-Neely Lake claim cluster, located 20 kilometres north of Uranium City along the northwestern margin of Saskatchewan's Athabasca basin.

Terra North holds an option to acquire 100-per-cent interest in the project from Fulcrum Metals Canada Ltd., subject to satisfying certain earn-in requirements (see the company's news release dated July 3, 2024).

SPI survey

The SPI survey will provide a high-resolution coverage of multiple radiometric anomalies interpreted as potentially related to uranium-bearing sources, including several that are positioned along prominent northeast-southwest-trending conductors. The airborne survey will be completed under Terra North's direction and will be fully financed by Terra North as a qualifying exploration expenditure and a part of its listing requirements by reverse takeover.

To be flown at 75-metre line spacing along east-west direction and with 1,000-metre-spaced north-south-oriented tie lines, SPI will execute a three-week-long geophysical program to produce high-resolution radiometric and magnetic data sets along 2,441 line kilometreasc ross the entire 163.7 square kilometres of the project to support a comprehensive interpretation of basement geology.

SPI's 16-detector focused gamma-ray spectrometer system generates some of the highest spatial resolutions in the industry with a 20-metre sensor footprint on surface. It is specifically designed to locate individual boulders and is readily used for radioelement (potassium, thorium and uranium) hot spot identification and mapping. The SPI platform includes the CS-III magnetometer, sampling at 1,000 hertz and designed for low-altitude flights to systematically map district-scale subsurface geological structures, detect faults and lineaments, as well as estimate depth of the Athabasca sedimentary package. A Riegl nadir narrow-beam lidar (light detection and ranging) will be used for terrain mapping. The SPI's GNSS/INS/AHRS FOG inertial sensors provide precise attitude and real-time and corrected position accuracy to centimetre level. Infill flight paths will be made across the newly discovered or particularly anomalous measurements.

When eventually integrated with helicopter-borne VTEM (versatile time-domain electromagnetic) and drone lidar surveys, the SPI data set will help Terra North identify or upgrade selected target zones for ground truthing (mapping and sampling) in early 2027 and will assist with drill target prioritization.

Terra Balcanica and Terra North chief executive officer Dr. Aleksandar (Alex) Miskovic commented: "SPI is known for delivering robust, high-resolution magnetic and radiometric data that have previously advanced understanding of prospectivity and basement geology across the Beaverlodge district. We will be able to assess the new magnetic anomalies and gamma-ray counts against known geophysical features to thoroughly assess the uranium-bearing potential of Charlot-Neely Lake on a regional scale. Terra North's immediate focus will be to refine and rank targets for follow-up drill programs. We are also looking forward to commencing a fully funded airborne geophysical coverage of all remaining parts of Terra North's 594-square-kilometre portfolio, including Snowbird tectonic zone, South Pendleton and the Fontaine Lake claims."

Going-public transaction

Since the incorporation and spinout of Terra North (see the company's news release dated Dec. 15, 2025), Terra North has been advancing preparations for a going-public transaction. Proceeds from two rounds of private placement financings have been used to maintain in good standing its sizable Athabasca basin landholdings. Terra North is incurring exploration expenditures on the project sufficient to qualify for a listing on a Canadian stock exchange and is in the process of completing an audit of its financial statements and commissioning a technical report on the project. Terra North's management is in the process of evaluating potential counterparties for completing a reverse-takeover transaction to achieve a listing on a Canadian stock exchange and anticipates such going-public transaction to be completed in Q4 2026.

Qualified person

Dr. Aleksandar Miskovic, PGeo, is the company's CEO and designated qualified person within the meaning of National Instrument 43-101, Standards of Disclosure of Mineral Projects. Dr. Miskovic has prepared this news release and validated that the information contained within is factual and accurate.

About Terra Balcanica Resources Corp.

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 a 100-per-cent interest in the Viogor project in eastern Bosnia and Herzegovina. Terra owns a 39.5-per-cent ownership in Terra North Resources and its Canadian assets, which comprise a 100-per-cent-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 pro-actively implementing good international industry practice (GIIP) and sustainable health, safety and environmental management.

We seek Safe Harbor.