Mr. John Gardiner reports

TARANIS EXTENDS HIGH-GRADE SILVER AND CU-PB-ZN IN NEWLY DISCOVERED GREAT NORTHERN MIDDLE & LOWER ZONES, INCLUDING 194 G/T SILVER & 14.22% COMBINED CU+PB+ZN OVER 2.75 M

Taranis Resources Inc. has released the results of a follow-up NQ drill hole that was designed to test the down-dip continuation of two new zones found under the exiting Great Northern deposit at its 100-per-cent-owned Thor silver-gold-lead-zinc-copper deposit in British Columbia.

Newly discovered Great Northern middle and lower horizons, Thor deposit (holes Thor-171 and Thor-172)

The following table shows the results from drill hole Thor-172 (negative 65 degrees) that was drilled under drill hole Thor-171 (negative 50 degrees), east of the Great Northern mine. The drill hole intersected the zones normal to the dip of the zones and approximates their true thickness.

Hole No.                                                                                         Cu, Pb, Zn
and zone    From (m)   To (m)   Interval (m)   Ag (g/t)   Au (g/t)   Cu (%)   Pb (%)   Zn (%)   combined (%)

Thor-172
GN middle     34.02    36.27           3.05      237.7       0.27     0.14     1.08     2.09           3.31
Thor-172
GN lower      34.02    36.27           2.75      193.5       0.17     0.27     3.89    10.06          14.22

For comparison purposes, the intersection for drill hole Thor-171 described in more detail in a news release (Sept. 9, 2016) is shown in the attached table.

Hole No.                                                                                         Cu, Pb, Zn
and zone    From (m)   To (m)   Interval (m)   Ag (g/t)   Au (g/t)   Cu (%)   Pb (%)   Zn (%)   combined (%)

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. Taranis has also posted a cross-section on the company's website that shows the location of the zones relative to the main Great Northern zone and will update this frequently.

John Gardiner, president and chief executive officer of Taranis Resources, comments: "Thor-172 was successful in extending the high-grade intercepts in the discovery hole Thor-171 for the Great Northern middle and lower zones. This shows that the zone has a moderate dip to the northeast similar to the main Great Northern zone, and these zones form three parallel zones each separated by about 30 metres. The occurrence of multiple parallel zones under the known Thor deposit has tremendous implications for the continued growth of the deposit, and the configuration of the zones is certainly amenable using low-cost, open-pit mining."

Qualified persons

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 Taranis via courier to MS Analytical Labs in Langley, B.C. MS Analytical Labs is an ISO-9001:2008-certified analytical laboratory. Taranis inserts standards every 10 samples for quality control in addition to the stringent internal checks completed at MS Analytical. 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 (inductively coupled plasma) finish, and gold by 30-gram fire assay with ICP finish.

We seek Safe Harbor.