Terra Balcanica Closes Option Agreement for Saskatchewan Uranium Assets
25 July 2024 - 10:29AM
UK Regulatory
Terra Balcanica Closes Option Agreement for Saskatchewan Uranium
Assets
Vancouver, British Columbia, July 24, 2024
(GLOBE NEWSWIRE) -- Terra Balcanica Resources Corp. (“Terra”
or the “Company”) (CSE:TERA; FRA:UB1), a
multi-jurisdictional, polymetallic exploration company focused on
supporting the global transition to clean energy, is pleased to
announce that further to its press release dated July
3rd, 2024, it has closed its option agreement dated July
2nd, 2024 (“Agreement”) between the Company,
Fulcrum Metals Plc. (“Fulcrum”, AIM:FMET) and Fulcrum Metals
(Canada) Ltd. (“Fulcrum Canada”), a wholly-owned subsidiary
of Fulcrum, pursuant to which the Company has obtained a
four-year option (the “Option”) to acquire a 100% interest
in Fulcrum’s uranium portfolio of exploration licences located in
northern Saskatchewan, Canada and collectively encompassing 596.71
km2 of highly prospective terrain for a tier one
uranium discovery. See the Company’s press release dated July
3rd, 2024 for further details regarding the
Agreement.
On closing of the Agreement, the Company issued
1,997,151 common shares of the Company to Fulcrum Canada, at a
deemed issue price of $0.125 per share, and issued 1,198,291 common
shares of the Company to Global Energy Metals Corporation as a
finder’s fee, at a deemed issue price of $0.125 per share. The
common shares of the Company issued in connection with the Option
are subject to a hold period of four months from the date of
issuance in accordance with applicable securities laws in
Canada.
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 Mišković”
Aleksandar Mišković
President and CEO
For the complete information on this news
release, please contact Aleksandar Mišković 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. Such forward-looking statements and
forward-looking information specifically include, but are not
limited to, statements that relate to the acquisition of the
licenses under the terms of the Agreement. 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, including, consents
or authorizations required for mining activities, environmental
regulations or hazards and compliance with complex regulations
associated with mining activities, climate change and climate
change regulations, fluctuations in exchange rates, the
availability of obtaining necessary financings to complete the
Option conditions and the business objectives of the Company, and
such further risks as disclosed in the Company’s periodic filings
with Canadian securities regulators. 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.