Mr. John Gardiner reports

TARANIS DISCOVERS TWO NEW BEDDED SULFIDE ZONES 33 & 61 M UNDER GREAT NORTHERN ZONE AT THOR GRADING UP TO 684 G/T SILVER, 0.53 G/T AU & 9.2% COMBINED CU-PB-ZN

Taranis Resources Inc. has released the results of an important NQ drill hole drilled on its Thor project located west of the existing silver-gold-lead-zinc-copper deposit.

This drill hole was collared east of the Great Northern zone and tested the footwall of the known Great Northern deposit for additional bedded sulphide horizons under the known resource. The drill hole intersected the zones normal to the dip of the zones and approximates their true thickness.

Hole Thor-171

The attached table shows the initial results from drill hole Thor-171 that was drilled east of the Great Northern mine, and tested the northern extension of other high-grade silver-bearing zones that were found in drill holes Thor-155 through Thor-158 at the onset of drilling in 2016. The results presented are only for the select high-grade portions of the hole, and assay results are pending for the remainder of the hole.

Hole No.         Zone     From      To    Interval     Silver      Gold     Cu    Lead    Zinc    Cu+Pb+Zn combined
                            (m)     (m)         (m)      (g/t)     (g/t)    (%)     (%)     (%)                  (%)

Thor-171    GN Middle    34.02   36.27        2.25      683.8      0.53    0.3     4.4     4.5                  9.2
Thor-171     GN Lower    64.92   65.68        3.04      229.6      0.27    0.1     2.6     3.8                  6.6
 
 

Taranis has now completed a number of holes in this area of the deposit and will continue to report the results as they become available. The company has also posted a cross-section on its website that shows the location of the zones relative to the main Great Northern zone, and will update this frequently as assays become available.

John Gardiner, chief executive officer, comments: "The GN Middle and GN Lower zones lie well below the known Great Northern zone, and are stratiform in nature. The zones have been subjected to folding and faulting along the east side of the Thor anticline, and have been structurally modified and now exhibit strong quartz vein flooding and annealing of the primary sulphide minerals. Despite this, it is not uncommon to find remnant massive sulphide mineralization that still preserves the delicate sulphide-banding characteristic of a sedex (sedimentary exhalative) or distal VMS deposit, and this is an exciting development at Thor."

Qualified person

Mr. Gardiner, PGeol, and Jim Helgeson, PGeo, are the qualified persons on the project. Samples are taken under the direction of qualified geologists. Core is sawed on-site, and one-half is retained for reference and further analytical work, including specific gravity determinations. Samples of the other half are delivered by the company via courier to MS Analytical Labs in Langley, B.C. MS Analytical Labs is an ISO-9001:2008-certified analytical laboratory. The company inserts standards every 10th sample for quality control in addition to the stringent internal checks completed at MS Analytical Labs. Samples are dried, crushed, split and pulverized. Analysis for silver, copper, lead and zinc, and related trace elements, was done by modified aqua regia digestion with ICP finish, and gold by 30-gram fire assay with ICP finish.

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