Terra Balcanica adds prospective gold exploration license to its Serbian portfolio

Terra Balcanica Resources Corp. (“Terra” or the “Company”) 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 km2of highly prospective land for gold and copper exploration in the historic Raska mining district of southern Serbia.

Highlights

Commenting on the acquisition of the new licence area, Dr. Aleksandar Mišković, the President and CEO of Terra Balcanica Resources Corp.stated: “We are delighted to have been granted a sizable new licence areain 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 minestogether with its Cu-focused exploration property at Suva Ruda-Rudnicaand north of numerous historic lead-zinc-silver mines in the north of theSerbian province of Kosovo. Significantly, the most prospective area for high grade gold located in the northwesterly quadrant of Ceovishte isconcealed 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.

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/kizevak) while at Sastavci, there is 1.6 Mt of ore grading 4.55% Zn, 2.8% Pb, 30 g/t Ag and 0.5 g/t Au also divided in the Yugoslav A+B+C1+C2 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 at 8% Pb+Zn and >159 Moz of Ag.

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.

Autionary 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. 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. 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, Yahoo Finance writes.