Terra Clean Announces Revised Option Earn-In Terms
Terra Clean Energy Corp. Announces Revised and Improved
Earn-In Terms and Upcoming Drill Program at South Falcon
East Uranium Project
Vancouver B.C., April 30, 2026 – TERRA CLEAN ENERGY CORP. (“Terra” or the “Company”) (CSE:
TCEC, OTC QB: TCEFF, FSE: C9O0) is pleased to announce that it has successfully negotiated
revised and improved earn -in terms on its South Falcon East Uranium Project, located in
Saskatchewan’s Athabasca Basin (“South Falcon East ”). The updated agreement enhances the
Company’s pathway to an ownership interest while maintaining capital effici ency as it advances
exploration drilling.
Under the revised terms, Terra has secured more favorable conditions to earn a n initial 51%
interest in South Falcon East with the total project consideration to complete the final 75% earn-
in remaining the same . These improvements provide the Company with increased flexibility in
deploying capital while accelerating the advancement of its uranium projects.
In conjunction with the updated earn-in agreement, Terra is preparing to commence a targeted
drill program on the Fraser Lakes B Uranium Deposit following up on the very encouraging results
reported in the winter 2025 program.
Summer 2026 Drill Program
The Company is planning an extensive follow-up drill program for late summer of 202 6,
consisting of up to 2,500 meters of drilling. The purpose is to test an area highlighted in the
Winter 2025 program where it is interpreted that a north-northwest trending brittle structure, a
north dipping structure with strong clay alteration, and mine ralized pegmatites with
hydrothermal hematite alteration hosted in graphitic pelitic gneiss all intersect. This puts many
of the indicators identified as being key components for higher grade uranium mineralization all
in the same location.
It is generally accepted that for higher grade uranium deposits in the Athabasca Basin you require
several key indicators:
• Graphitic metasediments,
• Brittle reactivated basement structures,
• Reducing fluid (indicated by clay alteration),
• Oxidizing fluid (indicated by hematite alteration, transports uranium),
All these features have now been identifie d in the Fraser Lakes B Summer Target A rea. Where
they are projected to intercept is considered a top priority target area for the discovery of a
higher-grade unconformity related basement hosted uranium deposit and additional mineralized
pegmatites.
The upcoming program will be a helicopter supported drill program encompassing seven to ten
diamond drill holes targeting an area approximately 120 to 150 m north of drill holes SF0063,
SF0065, SF0066 and SF0067 which were completed during the winter progr am (Figure 1). The
summer field program is anticipated to commence mid to late August and run for approximately
4-5 weeks. The campaign will be executed by Terralogic Exploration Inc. under the supervision of
their staff and C. Trevor Perkins, Vice President, Exploration for the Company. Operations will be
based out of a local contracting camp with helicopter support for the daily drilling operations.
The expected budget for this program is anticipated to be $1.75 million CDN.
(Figure 1)
”We are excited to get back in there and test where the clay alteration intersects the mineralized
zone and graphitic sediment package,” commented Trevor Perkins. “This an exciting target as it
can bring together many of the key features associated with th e known basement hosted
unconformity deposits in and around the Athabasca Basin”.
“These improved earn -in terms represent a meaningful step forward for Terra, allowing us to
increase our exposure to a highly prospective uranium asset under more favorable conditions,”
said Greg Cameron , CEO of Terra . “With summer drilling being planned, we are excited to
continue unlocking the potential of the South Falcon East Uranium Project.”
Terra remains focused on disciplined exploration and strategic asset growth as it builds a portfolio
of high-quality uranium projects in North America.
Under the revised agreement, the outstanding requirements for the Company to earn a 51%
interest in South Falcon East are as follows:
1. On execution of the amendment: (a) Issu ing Skyharbour Resources Ltd. (“Skyharbour”)
2,650,000 common shares; and (b) making a $100,000 cash payment to Skyharbour;
2. On or before July 31, 2027, incurring an additional $1,400,000 in work expenditures on
South Falcon East (with $75,000 of such work expenditures to have been incurred on or
prior to Oct 1, 2026)
3. On or before July 31, 2028: (a) incur ring an additional $1,000,000 in work expenditures
on South Falcon East; (b) issuing Skyharbour $1,770,000 in common shares based on the
VWAP calculated on the day of issuance ; and (c) mak ing a $1,700,000 cash payment to
Skyharbour.
Upon having earned a 51% interest in South Falcon East, the Company will have the option to
earn an additional 24% interest in South Falcon East (bringing its interest to 75%) by:
1. On or before January 1, 2029, incurring an additional $2,500,000 in work expenditures on
South Falcon East;
2. On or before January 1, 2030: (a) incurring an additional $3,500,000 in work expenditures
on South Falcon East; (b) issuing Skyharbour $4,500,000 in common shares based on the
VWAP calculated on the day of issuance ; and (c) make a $2,000,000 cash payment to
Skyharbour.
The Company also announces a n award of 300,000 restricted share units (each, an "RSU")
pursuant to its Omnibus Incentive Plan to a consultant of the Company. Each RSU entitles the
recipient to receive one common share of the Company o n vesting. The RSUs vest on the date
that is one year from the date of grant. The grant of RSUs remains subject to the receipt of all
regulatory approvals, including the approval of the Canadian Securities Exchange.
About Terra Clean Energy Corp.
Terra Clean Energy Corp. is a Canadian-based uranium exploration and development company.
The Company is currently developing the South Falcon East uranium project, which holds a 6.96M
pound inferred uranium resource * within the Fraser Lakes B Deposit, located in the Athabasca
Basin region, Saskatchewan, Canada as well as past p roducing uranium mines in Utah and
uranium exploration properties in Wyoming, United States.
ON BEHALF OF THE BOARD OF TERRA CLEAN ENERGY CORP.
“Greg Cameron”
Greg Cameron, CEO
Qualified Person
The technical information in this news release has been prepared in accordance with the
Canadian regulatory requirements set out in National Instrument 43-101, reviewed and approved
on behalf of the company by C. Trevor Perkins, P.Geo., the Company’s Vice President,
Exploration, and a Qualified Person as defined by National Instrument 43-101.
*The historical resource is described in the Technical Report on the South Falcon East Property,
filed on sedarplus.ca on February 9, 2023. The Company is not treating the resource as current
and has not completed sufficient work to classify the resource a s a current mineral resource.
While the Company is not treating the historical resource as current, it does believe the work
conducted is reliable and the information may be of assistance to readers.
Forward-Looking Information
This news release contains certain statements that may be deemed “forward -looking statements”.
Forward-looking statements are statements that are not historical facts and are generally, but not always,
identified by the words “expects”, “plans”, “anticipat es”, “believes”, “intends”, “estimates”, “projects”,
“potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or
“should” occur. Forward-looking statements may include, without limitation, statements relating to the
Company’s planned exploration activities on properties and the potential development of mineral
resources and mineral reserves which may or may not occur . Although the Company believes the
expectations expressed in such forward -looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance, are subject to risks and uncertainties, and actual
results or realities may differ materially from those in the forward-looking statements. Such material risks
and uncertainties include, but are not limited to: competition within the industry; actual results of current
exploration activities; environmental risks; changes in project parameters as plans continue to be refined;
future price of commodities; failure of equipment or processes to operate as anticipated; accidents, and
other risks of the mining industry; delays in obtaining approvals or financing; risks related to indebtedness
and the service of such indebtedness; as well as those factors, risks and uncertainties identified and
reported in the Company’s public filings under the Company’s SEDAR+ profile at www.sedarplus.ca.
Although the Company has attempted to identify important factors that could cause actual actions, events
or results to differ materially from those described in forward -looking information, there may be other
factors that cause actions, events or results not to be as anticipated, estimated or intended. Accordingly,
readers should not place undue reliance on forward-looking statements. There can be no assurance that
such information will prove to be accurate as actual results and future events could differ materially from
those anticipated in such statements. Forward -looking statements are made as of the date h ereof and,
accordingly, are subject to change after such date. The Company disclaims any intention or obligation to
update or revise any forward-looking information, whether as a result of new information, future events
or otherwise unless required by law.
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of
the CSE) accepts responsibility for the adequacy or accuracy of this release.
For further information please contact:
Greg Cameron, CEO
416-277-6174
Terra Clean Energy Corp
1133 Melville Street, Suite 2700
Vancouver, BC V6E 4E5
www.tcec.energy