Terra Balcanica Resources Corp. announced positive assay results from surface rock chip and soil sampling at its 80.4 km2 Ceovishte license in southern Serbia and closing of the first tranche of the previously announced non-brokered private placement financing of units for gross proceeds of $404,650 (the Offering). Highlights Surface rock sample include concentrations as high as 53.5 g/t Au, 78.6 g/t Ag and 2.47 % Cu with up to 0.39% Co and 0.45% Bi; 900 m strike length of Au-Ag- As- Bi-Cu-Te anomalism in soil geochemistry defines new target, with soil assays returning up to 2.42 g/t Au; Mineralization is controlled by potassic altered diorites hosting quartz-chalcopyrite veins with secondar y copper mineralogy at surface and a gold-bismuth-cobalt rich epithermal assemblage; Drill-ready with both porphyry and epithermal mineralization visible at collar locations.

The Ceovishte license totals over 80 km2 of highly prospective land for gold and copper exploration in the historic Raska mining district of southern Serbia. The license area drapes southern slopes of the Golija Mountain, a part of the well-known Kopaonik metallogenic zone. This area features the Kizevak 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 Kizevak is 3.9 Mt of ore grading 3.92 % Zn, 2.15 % Pb and 31 g/t Ag categorized according to the Yugoslav A+B+C1 resource nomenclature. The Raska mining district also holds the Rudnica Cu-Au porphyry target and is a northerly extension of the partially exploited, world class Trepca Pb-Zn- Ag skarn deposit of the norther Serbian province of Kosovo. Trepca features a non-NI 43-101 compliance resource of 60.5 Mt of ore grading over 8.0 % Pb+Zn and >159 Moz of Ag.