Mr. Aleksandar Miskovic reports

TERRA BALCANICA SPIN OFF TERRA NORTH RESOURCES IDENTIFIES RADIOMETRIC ANOMALIES OVER CHARLOT-NEELY LAKE IN SASKATCHEWAN

Terra North Resources Corp., in which Terra Balcanica Resources Corp. owns 39.5-per-cent equity, has received the preliminary data from an airborne survey being conducted over its flagship Charlot-Neely Lake claims, located 20 kilometres north of Uranium City, Sask. (see the company's news release dated Aug. 3, 2026).

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).

Preliminary data

The 2,441-line-kilometre survey across 163.7 square km of the project will provide a high-resolution coverage of multiple radiometric anomalies interpreted as being related to uranium-bearing sources, including several that are positioned along prominent northeast-southwest-trending conductors. The survey is conducted at 75-metre line spacing along east-west direction and 1,000 metres spaced, north-south-oriented tie lines.

A16-detector focused gamma ray spectrometer system operated by Special Projects Inc. has now detected seven prominent (U, Th (uranium, thorium)) radiometric anomalies after having flown the preliminary, north-south-oriented tie lines. One of the strongest readings was in the area north of Neely Lake, previously known to host outcrops of uranium mineralization grading up to 0.8 per cent U3O8 (triuranium octoxide).

The CS-III magnetometer, sampling at 1,000 Hz (hertz) has in turn broadly defined two major magnetic domains separated by northeast-southwest-striking Black Bay fault and roughly corresponding to Paleoproterozoic crystalline basement rocks of the Beaverlodge and Zemlak domains of the Rae subprovince. The Zemlak domain comprises foliated to gneissic granitoid rocks of inferred Archean age, as well as locally graphitic psammopelitic to pelitic gneisses and migmatites, and widespread leucogranites of inferred early proterozoic and/or late Archean age. The rock include: 1) variably magnetic orthogneisses, 2) pelitic gneissic to migmatites and derived diatexites, 3) locally garnetiferous leucogranites, and 4) rocks that are too altered and mylonitized to classify. The Beaverlodge Domain hosts northern margin of the Athabasca basin, which trends erratically along the southernmost point of the Crackingstone Peninsula. This unconformable contact displays windows of the Murmac Bay Group quartzite/quartz-feldspathic gneisses overlain by 1.71 to 1.50 Ga Athabasca Supergroup sandstones, breccias and basal conglomerates, which outcrop intermittently and are occasionally stratigraphically reversed.

Terra Balcanica and Terra North chief executive officer Dr. Aleksandar (Alex) Miskovic commented: "It is encouraging to see that the very first day of flying has yielded several promising radiometric signatures to follow up on. We are excited to receive the full data set to process and invert as a precursor for ground truthing and drill target definition. I am certain we will have plenty to choose from looking at the remaining size of Terra North's portfolio in the Beaverlodge district where recent maiden drilling on Xcite's Don Lake claim nine km to southwest has been successful."

Restructuring the board of directors

Giulio Bonifacio has decided to step down as the non-executive chairman of Terra's board of directors to focus on his other business interests, effective immediately. Additionally, Brandon Bonifacio has stepped down as director of the company to focus on his role as the CEO of Nevgold Corp., also effective immediately. The Terra CEO and directors are thankful to Giulio Bonifacio and Brandon Bonifacio for their contributions and support over the last five years.

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 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 that 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.