Terra Balcanica Resources Corp. announce additional assay results from the 2023 Phase II drill campaign confirming continuation of the high-grade Cumavici Ridge polymetallic mineralization within its flagship Viogor-Zanik project in Bosnia and Herzegovina. The Company further announces closing of the final tranche of its non-brokered private placement financing of shares for total gross proceeds of $212,200.

Further drilling efforts at Cumavici Ridge will aim to connect the shallow high-grade interval reported in this release to the 531 g/t AgEq over 0.75 m and 355 g/t AgEq over 1.10 m reported over 600 m to the northwest. The system remains untested and open to the southwest down-dip which will also be targeted in 2024 drilling. Half core (PQ3 and HQ3) samples were delivered by truck to ALS Bor, Serbia for sample preparation and analysis at the ALS laboratory Loughrea, Ireland an ISO/IEC 17025:2017 certified testing laboratory.

Sample preparation PREP-31BY method was used on all core samples. This involves crushing to 70% less than 2 mm, rotary split 1kg and pulverizing the split to greater than 85% passing 75 microns. Gold was assayed by 30g fire assay with ICP-AES finish (Au-ICP21).

Analyses of silver and base metals were completed by highly oxidising digestion with HNO3, KClO3 and HBr and the final solution in dilute aqua regia is determined by ICP-AES (ME-ICPORE). Control samples, comprising certified reference materials (CDN-ME-1811), quarter core field duplicates and blanks were inserted at a rate of 9% and investigated as part of the company's quality assurance and quality control program. The Company issued an additional aggregate of 1,200,000 Shares at a price of $0.04 per Share for gross proceeds of $48,000 pursuant to the Offering announced on December 1st, 2023.

In total, the Company has issued 5,305,000 Shares at a price of $0.04 for gross proceeds of $212,200. Terra will use the net proceeds of the Offering for working capital and to finance the acquisition of a strategic mineral exploration licence in Bosnia and Herzegovina. Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the closing of the final tranche of the Private Placement will be subject to a four (4) month hold period ending May 17th, 2024.

There were no finders' fees paid in any of the tranches of the Offering. This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended or any state securities laws, and may not be offered or sold within the United States, or to or for the account or benefit of any U.S. person or any person in the United States, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

"United States" and "U.S. Person" are as defined in Regulation S under the U.S. Securities Act.