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Taranis Resources Inc
Symbol TRO
Shares Issued 51,766,116
Close 2016-11-09 C$ 0.11
Market Cap C$ 5,694,273
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Taranis drills 2.5 m of 628.4 g/t AgEq at Thor

2016-11-14 13:18 ET - News Release

Mr. John Gardiner reports

TARANIS OUTLINES MULTIPLE LAYERS ASSAYING UP TO 628.4 G/T SILVER EQUIVALENT OVER 2.50M IN TRANSITIONAL AREA BETWEEN GREAT NORTHERN ZONE AND BROADVIEW MINE

Taranis Resources Inc. has released further results from its 2016 exploration program at its Thor project in southeast British Columbia. The results outlined in this news release pertain to an area that is located on the southeast end of the Great Northern zone, transitional into the Broadview mine located 460 metres to the southeast of the drill hole. This area had received almost no drilling prior to 2016. Drilling planned for 2017 will attempt to connect these two deposit areas and is expected to add substantial tonnage to the existing resource.

Drill hole Thor-177

Drill hole Thor-177 was drilled in an area that is transitional between the Great Northern zone and the Broadview mine area. This intercept is particularly noteworthy in that it intersected three zones that may in fact be the same zone folded into a tight, recumbent S-shaped fold structure. This leads to a pronounced right-handed shift of the zones in this area, and it now appears that the Great Northern zone and Broadview zone are in fact the same zone.

The attached table outlines the three zones intersected in this drill hole.

Drill hole   Zone         From      To   Interval    Silver    Gold    Copper    Lead    Zinc   Silver equivalent
                            (m)     (m)        (m)    (g/t)    (g/t)       (%)     (%)     (%)               (g/t)

Thor-177     GN Upper    30.57   33.83       3.26     129.0    0.53      0.17    4.64    3.31               428.9
Thor-177     GN Middle   54.89   57.39       2.50     400.8    0.55      0.13    2.38    3.19               628.4
Thor-177     GN Lower    62.09   64.34       2.25      77.1    0.28      0.07    2.31    5.29               352.5

Drill hole Thor-179

Drill hole Thor-179 was drilled 60 metres to the northeast of Thor-175 and shows that the mineralized zone dips much steeper in this area to the northeast (60 degrees). This area represents the downdip extension of drill hole Thor-175, which intersected three zones grading 141.6 grams per tonne silver equivalent over 4.42 metres, 195.2 grams per tonne silver equivalent over 25.6 metres and 406.7 grams per tonne silver equivalent over 9.14 metres.

Drill hole   Zone         From      To   Interval    Silver    Gold    Copper    Lead    Zinc   Silver equivalent
                            (m)     (m)        (m)    (g/t)    (g/t)       (%)     (%)     (%)               (g/t)

Thor-179     GN Upper   117.44   120.9      13.47     72.0     0.33      0.07    0.68    2.02               189.6
Thor-179     GN Middle  139.99   143.3      23.33     32.1     0.42      0.03    0.03    0.20                70.4

Discussion of results

It is not known how the historic Broadview mine area is connected to the high-grade Great Northern zone. Drill holes Thor-177 and Thor-179 have identified a tight fold in this area that has repeated the same mineralized horizon three times. Additional drilling will be required to accurately define the fold structure.

Qualified persons

John Gardiner, PGeol, and Jim Helgeson, PGeo, are the qualified persons on the Thor project, and they supervised the preparation and scientific and technical disclosure in this news release. Samples are taken under the direction of qualified geologists. Core is sawn 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 10th sample 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 finish and gold by 30-gram fire assay with ICP finish.

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