04:28 PM EST, 01/22/2026 (MT Newswires) -- Terra Balcanica Resources ( TEBAF ) after trade Thursday reported additional drill results from its Phase III program at the Brezani and Cumavici targets within the Viogor-Zanik project in Bosnia and Herzegovina.

At Brezani, drillhole BRE25001A returned 0.43 grams per tonne of gold over 55 metres from near surface, extending gold mineralization along strike, the company said.

Additional gold intercepts were also recorded, reinforcing the view that Brezani hosts a multi-domain, structurally hosted gold system, the company said, adding that surface gold skarn mineralization at Brezani remains largely untested across a wide soil anomaly.

"The results from the initial stage of the Phase III drill program in Bosnia highlight extensions of the silver-dominated polymetallic and gold mineralization at both of our key targets. With increases in mineralized footprints at Cumavici and Brezani by close to 100 m along strike at each location, Terra is proving the size aspect of the shallow epithermal mineralization throughout the Viogor Zanik project," Chief Executive Aleksandar Miskovic said.

"The company is positioning itself as the holder of one of the best, silver-rich exploration assets in the Balkans and Europe. The full extent of the planned drilling meterage at Brezani is committed to as we resume testing Cumavici with rigs commencing work on location this week despite subzero temperatures," he added.

The company's shares closed up $0.005 to $0.11 on the Canadian Securities Exchange.