Mr. John Gardiner reports

TARANIS RESOURCES INC. TO STREAMLINE EXPLORATION FOCUS IN BRITISH COLUMBIA AND FINLAND

Taranis Resources Inc.'s board of directors has unanimalously approved a plan to consolidate and focus its exploration activities on specific high-value exploration targets within British Columbia and Finland. Taranis will prioritize most of its exploration activity on the Thor silver-gold-lead-zinc-copper deposit in southeast B.C., where it has outlined a resource that shows substantial room for growth, and the nearby Lime Dyke property holding where Cominco conducted a considerable amount of drilling in the early 1980s on a high-grade precious/base metal project. The National Instrument 43-101 mineral resource is shown in the attached table, and has considerable room from growth potential.

                THOR MINERAL RESOURCE ESTIMATE SUMMARY

                           NSR               Au      Ag    Cu    Pb    Zn
Zone and category      cut-off   Tonnes    (g/t)   (g/t)   (%)   (%)   (%)

Potentially open pit
indicated                  $50  471,000    0.91     204  0.14  2.77  3.68
Inferred                   $50  189,000    1.28     218  0.16  2.70  3.83
Potentially underground 
indicated                 $100  168,000    0.81     141  0.13  1.78  3.03
Inferred                  $100  235,000    0.74     143  0.13  1.90  2.69
Total indicated                 640,000    0.88     187  0.14  2.51  3.51
Total inferred                  424,000    0.98     176  0.14  2.26  3.20

* Mineral resources are estimated at a net smelter royalty cut-off value
of $50 (U.S.) per tonne for potential open pit and $100 (U.S.) per tonne
for potential underground. A preliminary Whittle pit was applied to
constrain the potential open-pit resource.

In Finland, Taranis will focus much of its activity on the Riikonkoski copper-gold deposit, where it owns a 100-per-cent interest in a historical resource. The deposit has excellent exploration upside at depth, but requires additional exploration work and deep drilling to expand the size of the existing deposit. The existing historical resource (as per NI 43-101 classification) at Riikonkoski is tabulated below, and has room for growth potential downplunge and to the west.

Zone              Cu (%)     Tonnes

Itamalmi           0.48   9,560,000
Lantinen           0.68   2,450,000
Kangas             0.45     430,000
Total              0.52  12,440,000

Taranis has elected to discontinue its exploration activity at Naakenavaara and Kettukuusikko in Finland. Although these projects continue to have excellent exploration upside, the considerable expense required to satisfy landholding costs, and continue to explore and advance these properties make them untenable during a prolonged downturn in the current junior exploration business climate.

John Gardiner, president and chief executive officer of Taranis, states: "With the sustained exploration downturn, Taranis will focus on the two regions where it knows it is able to maximize return to our shareholders. At Thor, we have an existing resource with demonstrated excellent upside for growth, and combined with excellent area infrastructure and good metallurgical recoveries, makes this our top exploration focus. In Finland, we feel it is important to continue our long-standing exploration activity and focus on defined deposits that have excellent growth upside. Here we will continue to look for well-funded exploration partners to advance our exploration activities, and we will also seek potential opportunities that add value to Taranis."

We seek Safe Harbor.