Vancouver, British Columbia, Sept. 04, 2026 (GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. ("Terra" or the "Company") (CSE:TERA; FRA:UB1; OTCQB:TEBAF) is pleased to announce that Terra North Resources Corp. ("Terra North"), in which Terra owns 39.5% equity, has received the preliminary data from an airborne survey being conducted over its flagship Charlot-Neely Lake claims (the "Charlot-Neely Lake" or the "Project"), located 20 km north of Uranium City, Saskatchewan (see the Company's news release dated August 3rd, 2026; Figure 1).
Terra North holds an option to acquire 100% interest in the Project from Fulcrum Metals Canada Ltd. subject to satisfying certain earn-in requirements (see the Company's news release dated July 3rd, 2024).
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Figure 1. The Project claims cumulatively feature a dozen historic radiometric anomalies up to >6 % U3O8 in rock chips and more than 13,000 cps measured in outcrops together with a 1936 drill hole DDH-17 that intercepted a significant gold tenor from surface. Previously mapped electromagnetic conductors and lineaments are structural domains of the Black Bay Fault of which 20 strike-length km are located within the Project claims.
Preliminary Data
The 2,441-line km survey across 163.7 km2 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 NE-SW trending conductors (Figure 1). The survey is conducted at 75-metre line spacing along E-W direction and 1000-m spaced, N-S oriented tie lines.
A16-detector focused gamma ray spectrometer system operated by Special Projects Inc. has now detected 7 prominent (U, Th) radiometric anomalies after having flown the preliminary, N-S oriented tie lines (Figure 2). 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% U3O8 (Figure 1).
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Figure 2. Preliminary (unfiltered) radiometric data from the 1,000 m spaced, N-S tie lines yielded seven very strong and one exceptionally strong anomaly. The principal E-W oriented flight lines will complete the data set and provide a full radiometric gradient with up to 20-m precision.
The CS-III magnetometer, sampling at 1,000 Hz has in turn broadly defined two major magnetic domains separated by NE-SW striking Black Bay Fault (Figure 3) and roughly corresponding to Paleoproterozoic crystalline basement rocks of the Beaverlodge and Zemlak Domains of the Rae sub-province. 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. ?he 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.
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Figure 3. Preliminary data broadly differentiates two magnetic domains: the more magnetic Zemlak gneissic granitoids to the northwest and the Beaverlodge quartzite/quartz-feldspathic gneisses to the southeast with the Black Bay Fault as a litho-structural contact. A significantly improved picture will be generated with the in-fill data from the principal flight lines to be flown in the WSW-ENE direction.
Terra Balcanica and Terra North CEO, Dr. Aleksandar (Alex) Miškovic, 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 9 km to southwest has been successful."
Restructuring the Board of Directors
Mr. 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, Mr. 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 and Brandon for their contributions and support over the last five years.
Qualified Person
Dr. Aleksandar Miškovic, P.Geo, is the Company's CEO and designated Qualified Person within the meaning of National Instrument 43-101 Standards of Disclosure of Mineral Projects ("NI 43-101"). Dr. Miškovic has prepared this news release and validated that the information contained within is 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 a 39.5% ownership 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 Miškovic"
Aleksandar Miškovic
President and CEO
For the complete information on this news release, please contact Aleksandar Miškovic 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 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 and the completion of a going-public transaction by Terra North. 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.
