Received by email:

File: troOct03_2016nrv4.docx

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

 
/

 
 


Taranis Drills 9.14 m of 407 g/t Silver Equivalent in Drill Hole Thor-175

Lakewood, Colorado, October 03, 2016 - Taranis Resources Inc. ("Taranis") [TSX.V: TRO] is pleased to announce further 
--->results from its 2016 Phase 1 drilling program. Thor is a near surface silver-gold-lead-zinc-copper deposit that has o
--->ver 200 drill holes completed and considerable exploration upside.

Thor-175 was completed east of the Great Northern Mine and encountered wide-scale mineralization over a 25.6m wide int
--->erval. The lower portion of this interval included 9.14m of high-grade precious and base metal mineralization.

Drill Hole Thor-175

The following table shows the results from drill hole Thor-175 (-900). The drill hole intersected the zones normal to 
--->the dip of the zones and approximate true thickness. There are two mineralized intervals, one from 49.07-53.49m, and a
---> wider interval from 55.78-81.38m. The lower interval includes a higher-grade section that was 9.14m wide.

Hole No. & Zone
 From (m)
 To (m)
 Interval (m)
 Silver (g/t)
 Gold (g/t)
 Copper (%)
 Lead (%)
 Zinc (%)
 Silver Equivalent (g/t)
 
 Thor-175
 49.07
 53.49
 4.42
 64.9
 0.61
 0.03
 0.45
 0.55
 141.6
 
 Thor-175 GN Middle & Lower
 55.78
 81.38
 25.6
 61.2
 0.66
 0.04
 1.02
 1.63
 195.2

 
 
 
 Thor-175 GN Lower
 72.24
 81.38
 9.14
 143.9
 1.05
 0.09
 1.83
 3.78
 406.7
 
 
Relationship to Positive Magnetic Anomaly

Mineralization in drill hole Thor-175 shows a close relationship to a large, deep source magnetic anomaly that was fir
--->st outlined on the property in 2008. Other drill holes in this immediate area have intersected quart-feldspar porphyry
---> ("QFP") in close vicinity to hole Thor-175, including Thor-61 and Thor-179 (not yet reported) and may be important ex
--->ploration guides at Thor.

The magnetic anomaly was tested in 2008 by a single drill hole (Thor-75) 410m east of this area and intersected no sou
--->rce for the anomaly, and the cause of the geophysical anomaly remains unexplained. However, based on recent drill hole
---> data and interpretation, the source of this magnetic anomaly is potentially deeper. The identification and delineatio
--->n of the QFP intrusive is important to exploration at Thor because it is a hallmark component of volcanogenic massive 
--->sulphide deposits, and at Thor it is probably directly related to mineralization since no other intrusive rocks have b
--->een found that would cause such widespread precious and base metal mineralization. Where QFP has been seen in drill co
--->re, the QFP lies below the mineralized material, and is foliated indicating that it is very old; most probably the sam
--->e age as the event that was responsible for the precious and base metal mineralization at Thor. Taranis has taken samp
--->les of the material and will attempt to ascertain the age of the deposit using geochronology.

John Gardiner, President and CEO of Taranis states "Thor-175 is a good example of how the Thor deposit has a higher-gr
--->ade core, but also has a volumetrically large selvages of lower-grade mineralization that surround the higher-grade in
--->tervals. Since most of the material is located close to surface, we expect that the tonnage of the deposit will increa
--->se dramatically with the addition of holes like Thor-175 from the original NI 43-101 estimate undertaken in June of 20
--->13".

Qualified Persons

John Gardiner (P.Geol.) and Jim Helgeson (P.Geo.) are the Qualified Persons on the Thor Project, and supervised the pr
--->eparation and scientific and technical disclosure in this News Release. Samples are taken under the direction of quali
--->fied geologists. Core is sawed on-site and one half is retained for reference and further analytical work including sp
--->ecific gravity determinations. Samples of the other half are delivered by Taranis via courier to MS Analytical Labs in
---> Langley, British Columbia. MS Analytical Labs is an ISO-9001:2008 certified analytical laboratory.  Taranis inserts s
--->tandards 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 elem
--->ents was done by modified aqua regia digestion with ICP finish, and gold by 30-gram fire assay with ICP finish.

Silver Equivalent (AgEq)

Taranis uses Silver Equivalent ("AgEq") as a means of simplifying the tenor of intercepts at Thor. Thor is primarily a
---> silver deposit, but also contains valuable concentrations of gold, lead, zinc and copper. These metals are converted 
--->to AgEq using the following metal prices; Silver $19.00/Oz., Gold $1,300/Oz., Lead $0.90/lb. and Zinc $1.05/lb. Copper
---> $2.10/lb. All amounts are in US$. Recoveries are not factored into the calculation of the AgEq values. Additional inf
--->ormation concerning the use of AgEq is available at the website www.taranisresources.com.
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: tardisltroct32016.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*                                                                                                 
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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
 October 3, 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/ss
Enclosure

c: Taranis Resources Inc. - via email
 Attention:  John J. Gardiner, President
 lalli@frontiermcg.com
 TSX Venture Exchange - via SEDAR
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 Ontario Securities Commission - via SEDAR