Terra Balcanica Provides Exploration Activities Update on High Grade Silver and Gold Targets at Viogor Zanik Project in Bosnia - Seite 2

The Phase II drillhole CMV23004 intersected 1,168 g/t AgEq over 1.35 m from 36.2 m downhole to add 42 m strike length SE of CMVDD002 with mineralization remaining open and untested down-dip (Figure 2);

Drillhole CMV23003 intersected 457 g/t AgEq over 4.15 m from 43.85 m downhole and points to a wider down-dip continuation of the high-grade mineralization from the previously reported CMV23004 (Figure 2);

Drill testing of the 650 m-wide, conductivity high at the centre a 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). Continuation of this drillhole along same azimuth and dip to depth of 674 m has intercepted a substantial width of low to intermediate sulphidation epithermal mineralization and potassically altered, porphyritic andesites overprinted by chlorite from 550 m depth (Figure 3).

Figure 1 Geological map of the Viogor-Zanik project illustrating the drilled targets during the Phase II campaign. Cumavici is observed in the NW of the license package with the Brezani discovery 12 km to the SE. The operating Sase mine producing 350ktpa of Pb-Zn-Ag-Sb-Au concentrate is located 7 km east of Chumavichi (WGS84/UTM Zone 34N click here to view image).

Terra Balcanica CEO, Dr. Aleksandar Mišković, comments: “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. 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”