Terra Balcanica Announces Proposed Spin-Out of Terra North
CSE:TERA | FRA:UB10 | OTCQB:TEBAF #1100 – 1111 Melville Street, Vancouver, BC, Canada V6E 3V6
TERRA BALCANICA ANNOUNCES PROPOSED SPIN-OUT OF TERRA NORTH
RESOURCES CORP.
Vancouver, British Columbia – December 15th, 2025 – Terra Balcanica Resources Corp.
(“Terra” or the “Company”) ( CSE:TERA; FRA:UB1; OTC:TEBAF) is pleased to announce
that its Board of Directors has approved, in principle, a corporate reorganization (the “Spin-Out
Transaction”) whereby the Company plans to spin out its Canadian uranium assets into a wholly-
owned subsidiary, Terra North Resources Corp. (“Terra North”).
The proposed spin-out transaction is expected to include the following steps:
• Terra will transfer its 591 km2 Saskatchewan uranium portfolio, including the Charlot–Neely
Lake claim cluster located in the Uranium City district, to Terra North , in consideration for
15,000,000 common shares of Terra North;
• Terra North will complete a series of private placement financings to fund the 2026
exploration program on the uranium properties (Figure 1), and provide for other 2026-27
working capital requirements;
• Terra North will distribute a portion of the Terra North Shares held by it to its shareholders
on a pro rata basis as a return of capital;
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• Terra North will apply to list its common shares on the Canadian Securities Exchange (the
“CSE”), targeting a listing in Q2 2026, subject to receipt of regulatory approvals.
Terra North has engaged Dahrouge Consulting Inc. of Edmonton, Alberta to complete a NI 43-
101 compliant technical report on the Charlot–Neely Lake property, which will support the Spin-
Out Transaction and anticipated CSE listing. Furthermore, Terra North has engaged Maxis Law
Corporation of Vancouver, BC to provide legal counsel and facilitate the Spin-Out Transaction.
The Company intends to provide additional details regarding the structure, share distribution ratio,
and timing of the spin- out once final terms are determined, and all regulatory and corporate
approvals have been obtained. Completion of the S pin-Out Transaction will be subject to
shareholder approval, CSE approval, and applicable securities and corporate law requirements.
Terra Balcanica ’s CEO, Dr. Aleksandar Mišković, stated: “The spin -out of Terra North
positions our uranium portfolio within a focused exploration vehicle while allowing Terra to
continue advancing its European projects. We are thus becoming exposed to scarce critical metals
with significant projected upside in the coming decade such as antimony, silver, zinc, uranium and
REEs. This structure is designed to unlock value for Terra shareholders through direct exposure
to the exploration upside of the Canadian assets, while minimizing dilution of Terra shareholders
by raising funding for Canadian exploration activity directly in Terra North. We are excited to hit
the ground in the late spring of 2026 with a robust $2M exploration budget that will include
multiple geophysical surveys and a follow up ground-truthing fieldwork.”
CSE:TERA | FRA:UB10 | OTCQB:TEBAF #1100 – 1111 Melville Street, Vancouver, BC, Canada V6E 3V6
Figure 1. The Athabasca Basin tenement map with the key Terra North Resources Corp. claim clusters
located in the Beaverlodge District north of Uranium City and along the NE-SW trending Snowbord Tectnic
Zone while the South Pendleton claims are found on the SE margin of the Athabasca Basin (click here to
view image).
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 norther Saskatchewan, Canada. The
Company has 90% interest in the Viogor -Zanik Project in eastern Bosnia and Herzegovina. 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
CSE:TERA | FRA:UB10 | OTCQB:TEBAF #1100 – 1111 Melville Street, Vancouver, BC, Canada V6E 3V6
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 Mišković”
Aleksandar Mišković
President and CEO
For the complete information on this news release, please contact Aleksandar Mišković at
[email protected], +1 (514) 796-7577, or visit www.terrabresources.com/en/news.
FORWARD LOOKING STATEMENTS
This press release contains forward looking statements within the meaning of applicable securities laws .
The use of any of the words “anticipate,” “plan,” “continue,” “expect,” “estimate,” “objective,” “may,”
“will”, “project”, “should”, “predict”, “potential” and similar expressions are intended to identify
forward looking statements. In particular, this press release contains forward looking statements
concerning the planned completion of the Spin- Out transaction and certain financing activity by Terra
North. Although the Company believes that the expectations and assumptions on which the forward-looking
statements are based are reasonable, undue reliance should not be placed on the forward -looking
statements because the Company cannot give any assurance that they will prove correct . Since forward
looking statements address future events and conditions, they involve inherent assumptions, risks and
uncertainties. Actual results could differ materially from those currently anticipated due to a number of
assumptions, factors and risks. These assumptions and risks include, but are not limited to, assumptions
and risks associated with receipt of regulatory approvals, the ability to raise financing for the transactions
disclosed herein, the state of the equity financing markets, and prices for uranium and other metals.
Management has provided the above summary of risks and assumptions related to forward looking
statements in this press release in order to provide readers with a more comprehensive perspective on the
Company’s future operations . The Company’s actual results, performance or achievement could differ
materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no
assurance can be given that any of the events anticipated by the forward-looking statements will transpire
or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking
statements are made as of the date of this press release, and, other than as required by applicable securities
laws, the Company disclaims any intent or obligation to update publicly any forward -looking statements,
whether as a result of new information, future events or results or otherwise.