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Taranis Resources Inc
Symbol TRO
Shares Issued 49,766,116
Close 2016-09-20 C$ 0.095
Market Cap C$ 4,727,781
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Taranis receives ministry OK for Thor discharge permit

2016-09-27 13:17 ET - News Release

Mr. John Gardiner reports

TARANIS SECURES APPROVAL FOR TAILINGS DISCHARGE PERMIT IN RECORD TIME, SET TO COMMENCE PILOT MINING OPERATIONS AT THOR

Taranis Resources Inc. has obtained ministry approval for a discharge permit for a 1,000-tonne gold recovery sample test at its Thor silver-gold-lead-zinc-copper deposit in southeastern British Columbia.

Taranis purchased a gold refining mill in June, 2016, which has now been erected in close proximity to the high-grade, outcropping SIF zone uphill from the mill site used by operators in the early 1970s. This crusher, hammer mill and shaker table setup is a highly efficient system which will make use of a tailings disposal site and overflow pit and recycle water in a virtually closed system. The ore to be processed will come from the SIF zone which consists primarily of quartz, siderite and visible gold. With permitting now in place, Taranis plans to commence plant operations in the spring of 2017 as soon as weather and ground conditions allow.

Taranis continues to examine and document the potential impact of various aspects of future mining operations at Thor. As such, it has already taken an innovative approach to documenting the soil in the area. During detailed five-metre-by-five-metre geochemical surveys undertaken between 2012 and 2014, the pH and character of the soil substrate was comprehensively recorded. The data demonstrated conclusively that the tailings would in fact have a pH higher than the existing soil, and the chemical makeup of such tails would have less trace metals than currently exist in the soil cover.

John Gardiner, president and chief executive officer of Taranis Resources, comments: "Our board and management team have considerable experience in the discovery, exploration and development of mineable ore deposits, and are confident that the Thor project will warrant full-scale commercial production upon reaching its minimum size goal of 2.5 million tonnes. We have integrated environmental programs into our ongoing exploration work in order to minimize permitting delays. As an example, we been collecting climate data from two advanced weather stations at Thor for more than a year, and have implemented monitoring programs that will allow us to document the long-term characteristics of streams and snowfall on the property. This data collection will assist us in making responsible decisions about the development of the project to ensure that it meets all environmental standards and provide confidence that Thor will become a significant contributor to the local economy, and provide a reliable and safe mineable resource for years to come".

Qualified persons

Mr. Gardiner (PGeol) and Jim Helgeson (PGeo) are the qualified persons on the Thor project. Mr. Gardiner is responsible for the technical disclosure in this news release as it pertains to the Thor project.

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