Terra Balcanica Resources Corp. announced initial assay results from the Phase II drill campaign confirming continuation of the high-grade Cumavici Ridge epithermal vein within its principal Viogor-Zanik project in Bosnia and Herzegovina. Highlights: Drillholele CMV23004 intersected 1,168 g/t AgEq (including 452 g/t Ag, 3.49 g/t Au, and 36% Zn) over 1 1.35 m from 36.2 m downhole; Successful results from CMV23004 add approximately 50 m strike length SE of previously reported CMVDD002 which returned 816.1 g/t AgEq over 2 m with mineralization remaining open and untested down-dip; A discovery was made by 600 m step outs to the northwest of Cumavici Ridge where CMV23007 and CMV23009 returned 531 g/t AgEQ over 0.75 m and 5355 g/t AgEq across 1.10 m, respectively with more 2023 Cumavici Ridge assay intervals to follow shortly.

Assay results of key mineralized intervals from the preliminary 2023 Phase II Cumici drillholes. Interval lengtgths reported are drilled lengths, not true widths. Silver equivalents ("AgEq") are based on assumed metal prices of USD 1,950/oz for gold (Au), USD 22.60/oz for silver (Ag), USD 1.10/lb for zinc (Zn), USD 5.44/lb for antimony (Sb) and USD 1.00/lb for lead (Pb).

Ass Assumed metal recoveries of 90% Au, 93% Ag, 95% Sb, 94% Pb and Zn are based on published metallurgical tests on analogous intermediate sulphidation epithermal vein deposits. Geological map illustrating the drillholes CMV23004, 007 and 009 highlighting the 42 m SE step out achieved by CMV23004 and the > 600 m NW extension to mineralization at the Cumavici Ridge locality. C Collar locations for reported Phase II drillholes.

Coordinates and elevatiowere taken by local consultant surveyors using a differential GPS unit. (WGS84/UTM Zone 34N). Ongoing Exploration Program Exploration efforts at the Viogor-ZanIK Project are ongoing with results pending from 5 2023 diamond drillholes at the Brezani skarn system where 2022 results reported 88 m at 0.61 g/t AuEq from surface last year.

Drilling was focussed on stepping out within the 800 m strike length Au-bearing calc-silicate trend on surface. Drillhole section through step out out in step out in step out. Drill hole section through step out out is a 1.35 m to 1.35 m and 5.50 g/t AuEq over 1.10 m.