Terra Balcanica exercises 1st Year Option

Saskatchewan Uranium Projects

Fulcrum Metals plc (LON: FMET), a technology led company focused on the recovery of precious metals from mine tailings in Canada, announces that Terra Balcanica Resources Corp. (CNSX: TERA) ("Terra") has exercised the 1st year option under the definite option agreement (the "Agreement") entered into on 2 July 2024, and as announced by Fulcrum on 3 July 2024, to acquire 100% of Fulcrum's uranium projects consisting of the Charlot-Neely Lake, Fontaine Lake, Snowbird and South Pendleton projects, (the "Uranium Projects") located in Saskatchewan, Canada.

Pursuant to the terms of the Agreement, and in consideration for exercising the 1st year of the option, Fulcrum will shortly receive C$50,000 in cash and will be issued C$350,000 of Terra common shares, equating to 3,804,347 new Terra common shares (the "New Terra Shares") issued at the price of $0.092 CAD based on a 10-day VWAP ending on 8 July 2025. The New Terra Shares are expected to be issued to Fulcrum by 18 July 2005.

Following the issuance of the New Terra Shares, the Company will own 5,801,498 shares in Terra valued at C$533,738 based on the VWAP price of $0.092 CAD and representing 9.0 per cent. of Terra's issued share capital.

The New Terra Shares are subject to a hold period of four months from the date of issuance in accordance with applicable securities laws in Canada and the policies of the Canadian Securities Exchange.

The cash consideration of C$50,000 will be used by Fulcrum for its ongoing working capital needs.

Terra's full announcement can be accessed here: https://terrabresources.com/en/2025/07/11/terra-balcanica-closes-first-tranche-while-extending-life-offering-and-exercises-first-year-of-option-agreement/