Prospective Gold Exploration License Added To Serbian Portfolio

VANCOUVER - Terra Balcanica Resources Corp. announced the granting of the Ceovishte exploration license by the Serbian Ministry of Energy and Mines. The new license held by the Company’s 100% owned subsidiary Tera Balkanika doo covers 80.36 km2 of highly prospective land for gold and copper exploration in the historic Raska mining district of southern Serbia.

Aleksandar Miskovic, President and CEO, said, “We are delighted to have been granted a sizable new license area in Serbia. Acquisition of such prospective ground is core to our strategy of building a regional, multi-jurisdictional portfolio in the Western Balkans. By bringing Ceovishte into our portfolio we expanded our Serbian footprint by 160% to 130 km2 in addition to 216 km2 held in Bosnia-Herzegovina at our high-grade, polymetallic Viogor-Zanik project. We are excited by the geological potential of Raska where we have now gained exposure to both gold and copper with Ceovishte. The new license is found in the vicinity of Adriatic’s Kizevak and Sastavci Pb-Zn mines together with its Cu-focused exploration property at Suva Ruda-Rudnica and north of numerous historic lead-zinc-silver mines in the north of the Serbian province of Kosovo. Significantly, the most prospective area for high grade gold located in the northwesterly quadrant of Ceovishte is concealed by a thin overburden and has not seen any historical drill testing. This provides us with a unique exploration upside to search beneath a shallow cover resulting in quick drill target definitions. Our field crew has been dispatched to the locality to conduct sampling for soil geochemistry and we will provide updates on the field work very shortly.”