Mr. John Gardiner reports

TARANIS IDENTIFIES RIDGE TARGET AS POTENTIALLY DOUBLING THE STRIKE LENGTH OF THOR

Taranis Resources Inc. has identified an exploration target northwest of the existing Thor deposit that could potentially double the strike length of the existing 1.8-kilometre-long deposit. This target was identified after a comprehensive review of geology, geophysics and structural mapping data under Taranis's 2G exploration program, looking for stand-alone-type targets outside of the known deposit.

Geological setting of Thor

Thor is interpreted to be a siliclastic-felsic VMS (volcanogenic massive sulphide) deposit and the deposit has been subject to folding and other structural deformation that occurred. Age dating and geological mapping at Thor have shown that the deposit lies at the interface between two major rock units, the underlying Sharon Creek formation (carbonaceous phyllite) and the overlying Broadview formation (greywacke). Situated along the contact is a volcanic member known as the green tuff in local geology terms, that is now believed to correlate with the Carboniferous-age Jowett formation. This sequence of rocks is exposed in the Thor anticline, known to be the equivalent of the Silver Cup anticline. This is a major geological structure that can be traced for almost 40 kilometres and occurs in proximity to many other precious and base metal deposits in the Silver Cup mining district.

Ridge target

A major topographic ridge occurs north of the old True Fissure mill site, and the receptive contact at Thor is hidden by barren rocks of the Broadview formation under this prominent ridge. In 2013, several gossans were located 1.2 kilometres northwest of the existing deposit. Recent 3-D structural modelling has shown that the northernmost portion of the Thor deposit that is exposed at surface (Blue Bell) dips under these gossans, and the source of the gossan would be from sulphide minerals (pyrite) that occur in the main Thor deposit. The estimated depth to the target is 400 m and can only be tested by diamond drilling. Taranis has posted pictures of the gossan, as well as an overview of the target, on its website.

John Gardiner, president and chief executive officer, states: "The identification of the Ridge target is potentially of major consequence at Thor, and success testing this target would enhance the size of the deposit considerably. Owing to its importance, Taranis will aggressively develop an exploration plan to permit and test this target quickly. While definition drilling will continue around the known deposits under the 1G exploration program, successful results from the Ridge target would have monumental consequences at Thor."

Qualified persons

John Gardiner (PGeol) and Jim Helgeson (PGeo) are the qualified persons on the Thor project and supervised the preparation and scientific and technical disclosure in this news release.

About Taranis Resources Inc.

Taranis is an exploration company focused on the development of its 100-per-cent-owned Thor project in southeast British Columbia. The company's mandate is to recognize mineral deposits early in the exploration cycle that can be developed through intelligent exploration and business alliances.

We seek Safe Harbor.