Mr. John Gardiner reports

TARANIS EXPLORATION TO TARGET +2.5 MT AT THOR PROJECT

Taranis Resources Inc. has provided an update to its shareholders on its 100-per-cent-owned Thor project located northeast of Trout Lake, B.C.

Taranis has taken the existing database of almost 200 drill holes, underground channel sampling, surface trench sampling, geological mapping and exploration surveys and loaded the data into Geosoft Target. Prior to Taranis acquiring the project in 2007, the deposit had no resource and, during the years 2007 and 2008, portions of the project were subjected to grid drilling in order to complete a maiden resource estimate (Roscoe Postle Associates, 2014).

The purpose of the recently completed study was to identify and target new areas of mineralization that can be added to the existing National Instrument 43-101 resource model by continued drilling. Deep-penetrating EM-37 surveys, ground magnetics, VLF (very-low-frequency) and soil/rock sampling were integrated into the 3-D modelling to provide additional insight into defining other zones that could potentially add to the existing tonnage. These targets include areas peripheral to existing zones targets (such as the Scab zone), new zones (such as the gold pit) and previously unknown targets (such as Western Deeps). Taranis has compiled an overview of each of these targets on its website.

At Thor, high-grade, stratabound precious and base metal mineralization is found predominately on the east limb of the Thor anticline, but also occurs on the west limb where there has been no drilling. Upward of 70 per cent of the existing resource at Thor is near surface and potentially open pittable. Many mineralized zones remain untested at Thor owing to the rugged topography and specialized nature of drilling equipment required to test these areas, as well as also due to the lack of drilling completed since 2008.

John Gardiner, president and chief executive officer of Taranis, stated: "It is imperative that Taranis continue to enlarge the Thor silver-gold-lead-zinc-copper deposit to a point where it reaches a critical mass. Taranis has had a third party engineering group model the potential tonnage scenarios at Thor that provides valuable exploration guidance from an economic/financial perspective. This study shows that it is beneficial to try and enhance the size of the deposit with further drilling to a level beyond 2.5 million tonnes. Our modelling has shown this target to be an attainable goal, but it can only be realized through continued systematic drilling."

Qualified person

Exploration activity at Thor is overseen by John Gardiner, PGeol, who is a qualified person under the meaning of NI 43-101.

We seek Safe Harbor.