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File: tro_January_14_2015nrV3_Final.doc

FOR IMMEDIATE RELEASE
Taranis Resources Inc.
14247 West Iliff Avenue
Lakewood, Colorado 
80228-5421
www.taranisresources.com

 
 

 
 
Taranis Completes In-House Resource Estimates of Three Stockpiles and Two In-Situ Gold Occurrences at Thor - Uncovers 
--->a New Zone in the Footwall of the Thor Deposit Assaying 52.4 g/t Au, 1,542 g/t Ag over 2.04 m

Lakewood, Colorado, January 14, 2015 - Taranis Resources Inc. ("Taranis") [TSX.V: TRO] is pleased to provide updates o
--->n its 2014 summer exploration activities at Thor. Field work was related to the delineation and documentation of two m
--->ajor sources of potential ore-feed at Thor, and involved data collection in three surface stockpiles and two in-situ s
--->ources of gold mineralization.

In addition, a previously known float occurrence of high-grade gold and silver mineralization known as the Gold Pit ha
--->s been exposed in outcrop, and is a parallel zone of mineralization to the Great Northern Zone. This exposure proves t
--->he existence of parallel zones in the footwall of the Thor Deposit that remain completely unexplored.

Existing Stockpiles

The Broadview, Great Northern and True Fissure stockpiles are known sources of broken 'ore' at Thor. The three stockpi
--->les have now been surveyed, trenched and systematically sampled to rigorous NI 43-101 standards. In addition, Taranis 
--->has completed In-House Resource Estimates ("IHRE's") as a prelude to undertaking a 10,000 tonne bulk sample from the T
--->hor project. Since the data review has not been completed by an Independent Qualified Person, the tonnage and grade es
--->timates cannot be released publicly. The following table summarizes the data that was collected from each of the three
---> stockpiles that was used in completing the IHRE's.

Stockpile
 No. Survey Stations
 No. of Excavation Trenches
 No. of Sampling Transects
 No. of Panel Samples
 Year of Mining & Stockpiling
 
 True Fissure
 225
 5
 61
 82
 1972
 
 Broadview
 109
 2
 16
 29
 1909-1910
 
 Great Northern
 48
 1
 13
 63
 Circa 1910
 
 
Stockpile surfaces were surveyed using an engineering transit and stadia in order to accurately ascertain the volumes.
---> Excavator trenches were then completed across the stockpiles and the resulting cross-sections of the stock piles were
---> subject to panel sampling on 2 m spaced intervals. The base of the stockpiles was measured from the trenches and the 
--->edges of the stockpiles using differential GPS.

The existing stockpiles are located close to major access roads on the property, and are readily accessible. In the su
--->mmer of 2013, Taranis completed a number of environmental characterization studies that included acid-generation poten
--->tial, pH surveys in/around the stockpiles, and trace element dispersion plumes from the stockpiles. This data and find
--->ings were filed with the B.C. Department of Mines in 2014. The metallurgical characteristics of the stockpiles were ev
--->aluated in a metallurgical review by ALS Metallurgy in 2013 (Taranis News Release March 31, 2014).

Surface In-Situ Gold Occurrences

In addition to the stockpiles, Taranis has completed IHRE's of two gold zones that are located directly at surface cal
--->led the SIF and SIF-Carbon gold zones. The following table outlines the exploration activity that was directed at each
---> of these areas in 2014.

Gold Occurrence
 No. Survey Stations
 No. of Drill Holes
 No. of Surface Panel Samples
 No. of Drill Hole Samples
 No. of Surface Panel Sampling Lines
 No. Specific Gravity Determinations
 
 SIF
 126
 16
 100
 115
 15 (2m spacing)
 42
 
 SIF-Carbon
 131
 9
 171
 73
 13 (3m spacing)
 39
 
 
Both SIF and SIF-Carbon are now known to occur in an anticline structure that lies on top of the main Thor sulphide de
--->posit. Gold has preferentially accumulated in this anticline and probably has been remobilized out of the main sulphid
--->e deposit that includes a broad background level of gold mineralization (~1 g/t Au).

The intervening 120 m between the SIF Carbon and SIF Zones remains unexplored, and it is known from surface mapping th
--->at there is an anticline feature in this area along the main stratigraphic contact buried at depth. The edges of the m
--->ain sulphide deposit are enriched in gold, and move from Ag-Pb-Zn-Cu dominated in the core, to pyrite-Au-Ag dominated 
--->at the edge (SIF-Carbon) and finally into Au dominated on the extreme periphery (SIF).

Gold Pit Outcrop Sampling

Taranis completed four channel sample intervals across the newly uncovered Gold Pit occurrence perpendicular to the st
--->rike of the zone. These channel samples were spaced 1.5 m apart and covered the entire stripped outcrop exposure. The 
--->outcrop was exposed under about 3 m thickness of colluvium. The Gold Pit outcrop is particularly important since it co
--->ntains a high content of precious metals, and it occurs 80 m west of the outcropping Great Northern Zone. The followin
--->g table summarizes the results of 4 channel samples taken across the Gold Pit outcrop.

Line
 From (m)
 To
(m)
 Interval (m)
 Au (g/t)
 Ag (g/t)
 Pb  (%)
 Zn (%)
 
 1
 0.00
 1.64
 1.64
 14.3
 254.9
 0.99
 0.52
 
 2
 0.00
 2.04
 2.04
 52.4
 1,541.8
 1.39
 0.08
 
 3
 1.16
 2.06
 0.90
 3.9
 4.0
 0.01
 trace
 
 0
 0.40
 1.35
 0.95
 4.7
 722.9
 4.15
 4.07
 
 
The Gold Pit outcrop is arguably one of most important discoveries made at Thor since it proves the existence of paral
--->lel zones west of the existing deposit. It also shows a correlation with a VLF conductor and soil geochemical anomaly 
--->that occurs for over 200 m strike length that remains untested, and is entirely buried under thin colluvium cover. Sev
--->eral attempts to trench down to the target proved unsuccessful 50 and 100 m north of the Gold Pit and diamond drilling
---> is the only way to test the target. It should be noted that none of the previous 152 drill holes completed at Thor ha
--->ve been drilled deep enough to intersect this horizon.

Quality Control and Analytical Procedures

Samples were analyzed by Acme Labs in Vancouver, Canada. Fire Assay was completed on a 30 g sample for gold content an
--->d the remaining analytical data was completed using ICP analytical methods. Silver content in excess of 100 g/t was de
--->termined using gravimetric methods.

All of the sampling and gold determinations are subject to a rigorous quality control program that includes the placem
--->ent of standards and blanks a minimum of every tenth sample. WCM Minerals of Burnaby, British Columbia has been engage
--->d to supply the quality control materials for the Thor Project.

Qualified Person(s) - Exploration activities at Thor were overseen by John Gardiner (P. Geol.) and James Helgeson (P. 
--->Geo.), each of whom is a Qualified Person under the meaning of Canadian National Instrument 43-101.
About Taranis Resources Inc.

Taranis currently has 45,800,316 shares issued and outstanding (56,875,316 shares on a fully-diluted basis).

TARANIS RESOURCES INC.
Per: John J. Gardiner (P. Geol.),
President and CEO
 For further information contact:

John Gardiner
14247 West Iliff Avenue Lakewood, Colorado 
Phone: (303) 716-5922
Cell: (720) 209-3049
johnjgardiner@earthlink.net
 George Kent
Suite 1406, 130 Carlton Street
Toronto, Ontario
Phone: (416) 323-0783
Cell: (416) 697-0783
georgerkent@sympatico.ca

 
 NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE
---> TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

This News Release may contain forward looking statements based on assumptions and judgments of management regarding fu
--->ture events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results m
--->ay differ materially from expected results.


File: tarjan142015ltr.doc

TUPPER JONSSON & YEADON
BARRISTERS & SOLICITORS
An Association of Lawyers and law corporations
CARL R. JONSSON*    LEE S. TUPPER*               1710 - 1177 West hastings street
GLENN R. YEADON*       PAMELA  JOE                                                                                    
--->               Vancouver, b.c., canada
JEFFREY T. K. FRASER*                                                                                                 
--->         V6E 2L3
Tel: (604) 683-9262 Local 118
Direct Line: (604) 640-6355
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Email yeadon@securitieslaw.bc.ca
 REPLY ATTENTION OF: GLENN R. YEADON  
 OUR FILE:   46422
 
January 14, 2015 BY EMAIL


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 Dear Sirs:

RE TARANIS RESOURCES INC.

We are the solicitors for the above-mentioned company, and are enclosing a copy of its News Release of even date, whic
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--->n the normal fashion.  (Please note that we will be handling the SEDAR filing of this News Release.)

Yours very truly,

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 "Glenn R. Yeadon"
    
Glenn R. Yeadon
GRY/ss
Enclosure

c: Taranis Resources Inc. - via email
 Attention:  John J. Gardiner, President
 George Kent - via email
 TSX Venture Exchange - via SEDAR
 British Columbia Securities Commission - via SEDAR
 Alberta Securities Commission - via SEDAR
 Ontario Securities Commission - via SEDAR