On July 24, 2024, Terra Balcanica Resources Corp. (“Terra Balcanica”) obtained an option (the “Option”) to acquire a 100% interest in certain uranium projects located in Saskatchewan (the “Properties”) pursuant to the terms of an option agreement dated July 2, 2024 (the “Option Agreement”) between Terra Balcanica, Fulcrum Metals PLC (“Fulcrum”) (a public company listed on the AIM market of the London Stock Exchange), and Fulcrum Metals (Canada) Ltd. (“Fulcrum Canada”) (a wholly-owned subsidiary of Fulcrum).

In order to exercise the Option, Terra Balcanica will complete cash payments totaling $300,000 to Fulcrum, issue an aggregate of $3,060,000 worth of shares of Terra Balcanica to Fulcrum Canada and incur an aggregate of $3,250,000 of exploration and development expenditures on the Properties over a four-year period. Upon the exercise of the Option, Terra Balcanica will grant Fulcrum a 1% net smelter returns royalty on the Properties, subject to a buy-back right for half of the royalty for the cash payment of $1,000,000 to Fulcrum.

Terra Balcanica is a polymetallic and energy metals exploration company targeting large-scale mineral systems in the Balkans of southeastern Europe and northern Saskatchewan, Canada.

Further details regarding Terra Balcanica and the Option can be found on Terra Balcanica’s website. Terra Balcanica trades under the symbol “TERA” on the Canadian Securities Exchange.