Announcement • May 22
Terra Clean Energy Corp Reports Strong Initial Results from Airborne Radiometric and Photogrammetric Surveys At Prospector Freedom Uranium Project Terra Clean Energy Corp. announced highly encouraging initial results from recently completed airborne radiometric and Photogrammetric surveys at its Prospector Freedom Uranium Property in Piute County, Utah. The Prospector Freedom Project is located within a historically productive uranium district that has produced approximately 1.33 Mlbs U3O8 at reported average grades of 0.22% and benefited from extensive historical exploration activity. Previous operators reported strong uranium grades and continuity along multiple mineralized trends, underscoring the district-scale potential for additional discoveries and future resource expansion. The integrated airborne survey program was completed across the Company’s newly expanded 380-acre land package and has successfully identified several high-priority exploration zones exhibiting characteristics consistent with structurally controlled vein-style uranium mineralization. The survey was conducted by Land Survey Advisors of Heber City, Utah using a DJI Matrice 400 RTK quadcopter using terrain following and equipped with a Georadis D230A gamma ray spectrometer and a Zenmuse P1 45-megapixel mapping camera. The radiometric survey outlined numerous discrete uranium anomalies associated with favorable host lithologies and established regional mineralized trends. These anomalies are interpreted as potential near-surface uranium-bearing zones and represent compelling follow-up targets for the Company’s upcoming field program. In parallel, the Photogrammetric survey delivered high-resolution 3D digital topographic data and 2D orthomosaic photographs over the property. This information has aided in identifying terrain features and shading which may represent alteration corridors and spatially coincide with the identified radiometric anomalies. This is valuable for the development of a 3D model of the property and will aid significantly in drill planning and targeting, significantly strengthening Terra’s confidence in the exploration targets. Earlier this year, Terra strategically expanded the Prospector Freedom Project through the staking of an additional 14 Bureau of Land Management lode claims surrounding the original six claims, substantially increasing the Company’s footprint to 380 acres within this highly prospective historical uranium district. The expanded land package was assembled following detailed historical data compilation and regional geological interpretation, securing additional prospective ground believed to host favorable uranium mineralization. Building on the positive survey results, Terra is now advancing a targeted summer exploration program that will include ground-truthing of airborne anomalies, detailed geological mapping, geochemical sampling, structural interpretation and target refinement, and advancement of priority drill targets. Drill permitting is actively underway. Land Survey Advisors of Heber City, Utah, has been engaged to finalize permitting with the U.S. Bureau of Land Management and the Utah Division of Oil, Gas and Mining. All exploration activities are being conducted in accordance with applicable regulatory requirements and industry best practices. Announcement • May 02
Terra Clean Energy Corp Announces Upcoming Drill Program At South Falcon East Uranium Project Terra Clean Energy Corp. 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. Skyharbour optioned the Project to Terra and under the Option Agreement, assuming the full 75% interest is earned, Terra will fund exploration expenditures totaling CAD 10,500,000, as well as pay Skyharbour CAD 11,100,000 in cash, of which CAD 6,500,000 can be settled for shares in the capital of Terra over the earn-in period. Terra is planning an extensive follow-up drill program for late summer of 2026, 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 mineralized pegmatites with hydrothermal hematite alteration hosted in graphitic pelitic gneiss all intersect. All these features have now been identified in the Fraser Lakes B Summer Target Area. 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 program. The summer field program is anticipated to commence mid to late August. The campaign will be executed by Terralogic Exploration Inc. under the supervision of their staff and C. Trevor Perkins, Vice President, Exploration for Terra. 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 CAD 1.75 million. The South Falcon East Project is a uranium exploration project in the southeast Athabasca Basin and represents a portion of Skyharbour’s former Falcon Point Project. The project covers approximately 12,464 hectares and is located 18 kilometres outside the Athabasca Basin, roughly 50 kilometres east of the Key Lake mill. The project hosts the Fraser Lakes B Uranium-Thorium Deposit, which contains a historical inferred resource of 6.9 million pounds U3O8 at an average grade of 0.03% U3O8 and 5.3 million pounds ThO2 at 0.023% ThO2. Mineralization is hosted in shallow, structurally disrupted metasedimentary rocks and pegmatites, displaying Athabasca-style basement-hosted characteristics and occurring in association with well-defined EM conductors. New Risk • Apr 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$3.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$3.4m free cash flow). Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 42% per year over the past 5 years. Shareholders have been substantially diluted in the past year (66% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (CA$8.13m market cap, or US$5.94m). 
