Terra Balcanica Drills Promising Silver Vein System in Bosnia

Terra Balcanica Resources Corp. ("Terra" or the "Company") issued an update on the Phase I and II exploration drilling conducted within its primary 168 km² Viogor-Zanik project in Bosnia-Herzegovina.

At Chumavichi, the Company finished drilling 2200 m along a polymetallic Ag-Au-Pb-Zn-Sb vein system that is shallow, high-grade, and silver-dominated, with intermediate sulfidation. Largely untested by drilling, this 7.2 km long, semi-continuous structural corridor linked to a low magnetic response hosts altered volcanic tuffs and breccias with occurrences of massive Pb, Zn, and Fe sulfides.

Terra found a surficial auriferous skarn superimposed on an Ag-Pb-Zn-Au mineralized, NE-shallowing structural system itself overlying porphyry andesites stock at a depth of 550 m at the Company’s second Viogor-Zanik target, Brezani. The target is characterized by banded skarn outcrops with sphalerite and chalcopyrite, overlapping 1.2 km wide magnetic and electromagnetic anomalies, and an Au-Bi-Zn anomaly over 700 m wide at the surface.

Similar geophysical signatures have been found at the Rogozna Au-Cu skarn project in SW Serbia, located at 4.1 Moz Au Eq. The company finished drilling 1200 m of diamonds at Brezani, and more assays will be available soon.

Highlights

• 1,634.4 g/t AgEq. over 2.0 m and 824.2 g/t AgEq. over 4.0 m were intercepted by the maiden Chumavichi Ridge drillhole CMVDD001 from a depth of 29 m.
• Over a 2.0-m period, Chumavichi Ridge drill hole CMVDD002 intercepted 816.1 g/t AgEq.
• An 83-m step-out from CMVDD001, CMVDD003 is open at depth and intercepted a vein interval of 465.5 g/t AgEq. over 8.7 m, including 1196.6 g/t AgEq. over 2.0 m.
• About 50 m to the west-northwest of CMVDD002, the step-out drillhole CMVDD005 yielded 284 g/t AgEq over 10.0 m, including 895.8 g/t AgEq over 2.0 m.
• 40 m northeast of CMVDD005, the Chumavichi Ridge drillhole CMVDD004 yielded 505.3 g/t AgEq over 11.0 m from 43.0 m depth, which included 3075.4 g/t AgEq (108.5 oz/t AgEq) over 1.7 m.
• 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), shallow, polymetallic mineralization was also intersected 600 m NW of the discovery hole;
• The mineralization in Phase II drill hole CMV23004 remained open and untested down-dip, intersecting 1,168 g/t AgEq over 1.35 m from 36.2 m downhole to add 42 m strike length SE of CMVDD002.
• The intersection of 457 g/t AgEq over 4.15 m from 43.85 m downhole in drillhole CMV23003 suggests a wider down-dip continuation of the high-grade mineralization from the previously reported CMV23004.
• Drilling of the 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), with the conductivity high at the center measuring 650 m. A significant width of low to intermediate sulfidation epithermal mineralization and potassically altered, porphyritic andesites overprinted by chlorite from 550 m depth have been intercepted by continuing this drillhole along the same azimuth and dip to a depth of 674 m.

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.

Dr. Aleksandar Mišković, CEO, Terra Balcanica Resources Corp.

Dr. Aleksandar Mišković adds, “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.

Dr. Aleksandar Mišković, CEO, Terra Balcanica Resources Corp.

Upcoming Results

Laboratory assay results from the drill hole below 215 m depth will be released soon after QA/QC verification. In the upcoming months, four additional diamond drill holes between 120 and 160 m in depth that assessed the surface gold-bearing calc-silicates and magmatic breccias will also be released.

QAQC

Truck-borne half-core (PQ3 and HQ3) samples were transported to ALS Bor, Serbia, for sample preparation and analysis at the ISO/IEC 17025:2017 certified testing laboratory, ALS laboratory Loughrea, Ireland. For all core samples, the PREP-31BY technique of sample preparation was applied. Crushing to 70% less than 2 mm, rotary splitting 1 kg, and pulverizing the split to more than 85% passing 75 μm are the steps involved in this process.

Gold samples underwent a 30 g fire assay with ICP-AES finish (Au-ICP21). Analysis of silver and base metals involved highly oxidizing digestion with HNO₃, KClO₃, and HBr (ASY-ORE), followed by determination of the final solution in dilute aqua regia using ICP-AES (ME-ICPORE).

As part of the company's quality assurance and quality control program, control samples, including certified reference materials (CDN-ME-1811), quarter core field duplicates, and blanks, were inserted at a rate of 9% and thoroughly investigated.