Dr. Aleksandar Miskovic reports

TERRA BALCANICA SPIN OFF TERRA NORTH RESOURCES CONFIRMS MULTIPLE URANIUM TARGETS OVER CHARLOT-NEELY LAKE CLAIMS NORTH OF ATHABASCA BASIN, SASKATCHEWAN

Terra North Resources Corp., in which Terra Balcanica Resources Corp. owns 35.1-per-cent equity, has received the final data set from the previously announced airborne survey conducted over its flagship Charlot-Neely Lake claims located approximately 20 kilometres north of Uranium City, Sask. (see the company's news release dated Sept. 4, 2026). Terra North holds an option to acquire 100-per-cent interest in the project from Fulcrum Metals Canada Ltd. subject to satisfying certain earn-in requirements (see the company's news release dated July 3, 2024).

Highlights

• Ten (high confidence) uranium targets and have been identified over the Charlot-Neely Lake landmass showing strong, statistically significant uranium peaks that coincide with total-count (TC) readings highs (of up to 3,200 counts per second) and minimal K/Th (potassium/thorium) co-elevation.
• Uranium trends define tight, linear anomalies and align with magnetic lineaments but diverge from broader thorium peaks indicative of hydrothermal mobilization of uranium independent of hosts -- a hallmark of Beaverlodge-style structural vein-type mineralization.
• The spatial correlation between magnetic lineaments and uranium highs validates that the Black Bay fault system and its associated splays served as the key structural controls for uranium mobilization. The primary target areas are located where the uranium anomalies overlap with cross-cutting structures identified in the Tilt Derivative (TDR) and Total Horizontal Gradient (THG) magnetic data sets.

Terra Balcanica and Terra North chief executive officer Dr. Aleksandar (Alex) Miskovic commented: "The geophysical results obtained from an inaugural survey flow over our flagship property in the Beaverlodge district are indeed very promising. Terra North has now confirmed multiple, high confidence uranium and thorium anomalies that largely align with the known structural corridors but also reveal an entire new, Th-rich domain in the northern half of the land tenure. Magnetic imaging that was concurrently obtained will be used in concert with radiometric data to define principal conduits for U-bearing, hydrothermal fluid flow. Terra North will now organize a ground-truthing and rock sampling campaign to validate the key airborne targets as we continue surveying our other claims, namely Fontaine Lake north of Stony Rapids, Saskatchewan."

Survey parameters

The 3,135.9-line-kilometre survey across 163.7 square km of the Charlot-Neely Lake claims was conducted at 75-metre line spacing along 87 degrees of azimuth with 1,000 m spaced, north-south-oriented tie lines. A16-detector focused gamma ray spectrometer mounted on a Cessna A185F Skywagon was operated simultaneously with a CS-III magnetometer, sampling at 1,000 Hz (hertz) to generate detailed maps of magnetic susceptibilities and radioactivity.

Charlot-Neely Lake results: radiometrics

The elevated radiometric trends validate that the regional northeast-southwest Black Bay fault system and its associated splays served as the key structural controls for uranium mobilization on a district scale. Eight (high confidence) uranium target zones have been identified over the Charlot-Neely Lake landmass showing strong, statistically significant uranium peaks that coincide with total-count (TC) readings high and minimal K/Th co-elevation. These represent the best ground targets to follow up on given that sharp coincident TC+U signatures have been historically confirmed in field follow-up as high-grade radioactive boulders or embedded pegmatites.

Uranium radiometric highs occur as linear, coherent bands that trace directly along the principal fault traces and structural splays mapped out by the magnetic edge-detection filters (tilt derivatives and total horizontal gradients). This confirms that the regional shear and fault zones acted as primary conduits for radioisotope-rich bedrock units or hydrothermal fluid migration. The radiometric highs (reds/purples) in thorium/total count correlate closely with exposed, competent granitic/felsic gneiss units and pegmatites, which are naturally enriched in K and Th.

While thorium remains immobile and tightly mapped to primary bedrock lithology (that is, granites/gneisses), the uranium channel shows concentrated, high-contrast linear anomalies. Where uranium highs align with structural magnetic lineaments but diverge from broader thorium peaks, it highlights hydrothermal mobilization of uranium independent of primary magmatic hosts, a hallmark of Beaverlodge-style structural vein-type mineralization.

Charlot-Neely Lake results: magnetics

Total magnetic intensity of the area displays a dominant northeast-southwest structural grain and a dichotomy, between the Beaverlodge and Zemlak domains on each side of the Black Bay fault zone. A prominent, highly magnetic linear belt cuts diagonally across the centre northwest of the survey block, indicating a substantial band of mafic volcanic or intrusive lithologies. Broad magnetic lows dominate the southeastern and peripheral zones, likely representing felsic gneisses or granitoid bodies. The 1VD map dramatically outlines the contact zones and breaks up the broad magnetic highs seen in the TMI map into distinct, tightly folded or faulted panels. Sharp contrasts trace lithological layering and help delineate intrusive boundaries and stratigraphic repetition.

The TDR map acts as an excellent structural edge detector. It accentuates the dense network of cross-cutting fractures, shears, and lineaments traversing the area in the northeast-southwest and east-west directions. The complex mosaic of high-frequency textures in the central and northern blocks points to intense structural disruption, block faulting and shearing, which can be crucial settings for structural-hydrothermal mineralization. Linear high-gradient trends highlight major regional fault structures (such as splays or extensions related to the Black Bay fault system). Displacements, truncations and offsets in the continuous THG ribbons point to cross-faults or late-stage brittle deformation events, which are primary targets for structural controlled flow of uranium and base metal/gold bearing fluids.

Combining all geophysical data sets provides a hierarchy for ground targeting:

1. Tier 1 hydrothermal uranium traps (central northeast-southwest corridor)

Structurally controlled pitchblende/uranium vein systems along reactivation zones of the Black Bay fault system characterized by high U ternary response plus uranium hot spots crosscut by high THG/TDR magnetic gradient lineaments.

1. Lithological contact and redox traps

Fluid movement along competency contrasts where reductants in mafic rocks trigger uranium precipitation characterized by magenta ternary zones (granitic gneiss) and High 1VD magnetic highs (mafic rocks), flagged by U-channel hot spots.

1. Covered structural targets

Extension of mineralized structures under shallow lake/till cover characterized by sharp THG magnetic lineament passing under U attenuated zones zone between adjacent U-hotspot trends.

Debt settlement

The company announces that it has entered into an agreement with Dr. Aleksandar Miskovic (the creditor), president, chief executive officer and a director of the company, to settle debt owed by the company to the creditor in the amount of $19,687.50 for outstanding salary by the company issuing 393,750 common shares of the company to the creditor at a deemed price of five cents per common share. The common shares to be issued to the creditor will be subject to a hold period expiring on the date that is four months and one day after the date of issuance in accordance with applicable securities laws.

The participation of the creditor in the debt settlement constitutes a related party transaction under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. There will be no material change in the outstanding securities of the company that are held by the creditor as a result of the debt settlement. The company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the related party in the debt settlement in reliance on the exemptions contained in sections 5.5(b) and 5.7(1)(a) of MI 61-101, respectively, as the fair market value of the insider participation does not exceed 25 per cent of the company's market capitalization as determined in accordance with MI 61-101. The directors of the company unanimously approved of the debt settlement with the creditor declaring his interest and abstaining from voting. No materially contrary view or abstention was expressed or made by any director of the company in relation thereto.

The company has further agreed to settle an outstanding debt in the amount of $10,000 owed to an arm's-length creditor by issuing an aggregate of 250,000 common shares in the capital of the company at a price of four cents per common share. Additionally, Terra has agreed to enter into another shares for debt transaction for the amount of $8,096.51 by issuing an aggregate of 179,922 common shares in the capital of the company at a price of 4.5 cents per common share to another creditor. The board of directors has determined it is in the best interests of the company to settle the outstanding debt by the issuance of the common shares in order to preserve the company's cash for continuing operations.

Closing of the shares for debt transaction is subject to customary closing conditions, and the company intends to close it as soon as practicable. The common shares to be issued pursuant to the shares for debt transaction will be subject to a hold period of four months and one day from the date of issuance in accordance with applicable securities laws.

Qualified person

Dr. Aleksandar Miskovic, PGeo, is the company's chief executive officer and designated qualified person within the meaning of National Instrument 43-101 -- Standards of Disclosure of Mineral Projects. Dr. Miskovic has prepared this news release and validated that the information contained within is factual and accurate.

About Terra Balcanica Resources Corp.

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-per-cent interest in the Viogor project in eastern Bosnia and Herzegovina. Terra owns a 35.1-per-cent ownership in Terra North Resources Corp. and its Canadian assets that comprise a 100-per-cent-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 pro-actively implementing Good International Industry Practice (GIIP), and sustainable health, safety and environmental management.

We seek Safe Harbor.