Terra Balcanica Announces Increase to Private Placement

Vancouver, July 17, 2024 - Terra Balcanica Resources Corp. ("Terra" or the "Company") (CSE:TERA; FRA:UB1) is pleased to announce that due to investor interest it is increasing the amount of its previously announced non-brokered private placement financing on May 17 ^th , 2024 (the "Offering") of units (the "Units") to raise aggregate gross proceeds of up to $1,450,000. The Company previously closed an initial tranche of the Offering for gross proceeds of $205,750, as described in the Company's press release dated June 17 ^th , 2024. The Company intends to complete two additional tranches of the Offering.

The Company intends to issue an aggregate of up to 14,500,000 Units at a price of $0.10 per Unit pursuant to the Offering. Each Unit will consist of one common share in the capital of the Company (each a "Common Share") and one Common Share purchase warrant (each a "Warrant"). Each Warrant issued will entitle holder to purchase one Common Share at an exercise price of $0.15 for a period of 36 months from the date of issuance of the Warrant.

The Company intends to use the net proceeds of the Offering for working capital and to fund the Phase III drilling campaign across its portfolio of properties.

Pursuant to applicable Canadian securities laws, all securities issued and issuable in connection with the Offering are subject to a four (4) month hold period from the applicable closing date. The Offering is subject to the approval of the Canadian Securities Exchange.

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 (the "U.S. Securities Act") 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.

About the Company

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. The Company has 90% interest in the Viogor-Zanik Project in eastern Bosnia and Herzegovina and owns 100% of the Ceovishte mineral exploration licence in southern Serbia. The Canadian assets comprise a 100% optioned portfolio of uranium-prospective licences at the outskirts of the world-renowned Athabasca basin: Charlot-Neely Lake, Fontaine Lake, Snowbird, and South Pendleton. The Company emphasizes responsible engagement with local communities and stakeholders. It is committed to proactively implementing Good International Industry Practice (GIIP) and sustainable health, safety, and environmental management.

ON BEHALF OF THE BOARD OF DIRECTORS

Terra Balcanica Resources Corp.
"Aleksandar Miškovi?"

Aleksandar Miškovi?
President and CEO

For the complete information on this news release, please contact Aleksandar Miškovi? at amiskovic@terrabresources.com, +1 (514) 796-7577, or visit www.terrabresources.com/en/news.

Cautionary Statement

This news release contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively "forward-looking statements"). The use of any of the words "will", "intends" and similar expressions are intended to identify forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, the closing and structure of the Offering and the use of proceeds for the Offering. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. These forward-looking statements are based on a number of assumptions which may prove to be incorrect including, but not limited to, the ability to obtain regulatory approval for the Offering; volatility and sensitivity to market prices; volatility and sensitivity to capital market fluctuations; and fluctuations in metal prices. Such forward-looking statements should not be unduly relied upon. Actual results achieved may vary from the information provided herein as a result of numerous known and unknown risks and uncertainties and other factors. The Company believes the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct. The Company does not undertake to update these forward-looking statements, except as required by law.