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File: NRaug162016.docx

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

 
/

 
 


Taranis Discovers Multiple New Zones at Thor Assaying up to 1,858 g/t Silver 100 m Southwest of the Existing Ag-Au-Pb-
--->Zn-Cu Deposit

Lakewood, Colorado, August 16, 2016 - Taranis Resources Inc. (the "Company") [TSX.V: TRO] is pleased to announce that 
--->the results of five NQ drill holes drilled on its Thor Project located west of the existing Ag-Au-Pb-Zn-Cu deposit.

All of the holes were drilled in the footwall of the existing Resource, outside of the known NI 43-101 Resource and ha
--->ve conclusively shown that the sulfide lodes at Thor are folded into multiple parallel zones along the axis of the Tho
--->r Anticline that plunges shallowly to the northwest.

The high-grade zones are tightly folded into a corridor at least one km long that is 100 m wide at surface, and dips m
--->oderately to the northeast along the east side of Great Northern and Broadview Mountains. All of the intercepts report
--->ed occur from surface to a maximum depth of 70 m below surface, but remain open at depth.

2016 Drilling Update

The following table shows the results of the first five drill holes (Thor-155 was drilled at the onset of the program 
--->and was drilled down-dip, and was devoid of mineralization). The core was re-examined after the initial assays were re
--->ceived, and the core has undergone additional sampling which is expected to widen some of the intercepts.

Hole No
 From(m)
 To(m)
 Interval (m)
 Au (g/t)
 Ag (g/t)
 Pb (%)
 Zn (%)
 Cu (%)
 
 Thor-156*
 35.20
 43.43
 8.23
 0.84
 125.5
 0.78
 0.68
 0.05
 
 Including:
 
 Thor-156
 42.40
 42.67
 0.27
 1.1
 1,858
 2.97
 3.03
 0.12
 
 Additional mineralized material found after 43.43 m to 44.20 m, assays pending.
 
 Thor-157
 38.98
 42.64
 3.66
 0.68
 127.9
 0.06
 0.59
 0.66
 
 Thor-157
 73.21
 74.62
 1.41
 1.01
 695.3
 6.86
 6.53
 0.17
 
 Thor-157
 77.42
 78.97
 1.55
 0.73
 6.1
 trace
 trace
 trace
 
 The interval from 74.62 to 77.42 was subsequently sampled, and assay results are pending to combine these two interce
--->pts to a 5.76 m interval.
 
 Thor-158
 69.34
 71.02
 1.68
 0.62
 590.1
 0.03
 0.08
 0.44
 
 Thor-159
 34.90
 39.11
 4.21
 0.28
 33.9
 0.88
 0.12
 0.12
 
 
Exploration is being focused on the central part of the Thor Anticline, where a number of recent high-grade gold disco
--->veries have been made. These include the Gold Pit also located in the footwall of the deposit in an outcrop (52.4 g/to
--->nne Au and 1,542 g/t Ag/2.04 m) and the SIF Zone (30.59 g/tonne Au/17.55 m). At Thor, gold appears to be preferentiall
--->y concentrated along the top of parasitic drag folds and anticline axes.

John Gardiner, CEO of Taranis Resources Inc. comments "The discovery of multiple, parallel high-grade zones in the ini
--->tial five holes at Thor has major implications for expansion at Thor. The presence of multiple, stacked zones of high-
--->grade mineralization makes the project ideal for large-scale, low-cost open pit mining. Most of the deposit is already
---> exposed at surface along the east side of Great Northern Mountain.

Recognition of the tight folding of the sulphide zones also gives us a firm grasp of the structure of the deposit, and
---> it now appears that there could be multiple layers. Roscoe Postle Associates completed an in-house Whittle open pit m
--->odel of the Thor deposit, and found that approximately 80% of the deposit was open pittable, but we expect that this t
--->o dramatically increase with the discovery of these types of en-echelon zones at Thor".

Qualified Person(s)

John Gardiner (P.Geol.) and Jim Helgeson (P.Geo.) 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 refe
--->rence and further analytical work including specific gravity determinations. Samples of the other half are delivered b
--->y the Company via courier to MS Analytical Labs in Langley, British Columbia. MS Analytical Labs is an ISO-9001:2008 c
--->ertified analytical laboratory.  The Company inserts standards every 10th sample for quality control in addition to th
--->e stringent internal checks completed at MS Analytical. Samples are dried, crushed, split and pulverized.  Analysis fo
--->r 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.

About Taranis Resources Inc.

Taranis currently has 49,766,116 shares issued and outstanding (56,066,116 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
 
 
 
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: 3 Disseminators - Aug. 16.16.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  
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 August 16, 2016 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
--->h we would ask that you disseminate pursuant to the TSX Venture Exchange's requirements, as well as for distribution i
--->n the normal fashion.  (Please note that we will be handling the SEDAR filing of this News Release.)

Yours very truly,

TUPPER JONSSON & YEADON

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

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