Received by email:

File: tro_April_7_2017nrv1.docx

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

 
/

 
 


Exploration Permits Delayed at Thor, Potentially Impacting 2017 Work Program

Lakewood, Colorado, April 7, 2017 - Taranis Resources Inc. ("Taranis") [TSX.V: TRO] [OTCQB: TNREF] is providing an upd
--->ate on permitting its Thor Project located near Trout Lake, British Columbia.

Background

Taranis has completed over 220 core holes on the Thor project, a maiden NI 43-101 Resource estimate, metallurgical stu
--->dies and cash flow analyses, and has also proactively undertaken environmental studies including acid rock drainage, c
--->limate studies, and soil pH analysis.

The current focus at Thor is the delineation of additional Resource material found in several areas peripheral to the 
--->existing deposit, and a "stand-alone" target 1.4 km north of the existing deposit (Ridge Target) that appears to be co
--->nnected to the existing deposit that if tested and yielded positive results would increase the strike length of the de
--->posit to almost 4 km.

Current Permitting Status

Pursuant to an update of Exploration activity at Thor (March 20th, 2017 News Release) where Taranis submitted two Noti
--->ce of Work Amendments at Thor (1630302201701 & 1630302201702) to the Ministry of Energy and Mines in Cranbrook, Tarani
--->s has received notification that the applications will be delayed. Taranis submitted the Notice of Work applications a
--->t least three months prior to any planned exploration work, the usual timeframe for operating in the narrow field seas
--->on between June 15th and late September at Thor. Financing and drilling any of these targets requires months of prepar
--->ation and planning, and unforeseen delays are of direct consequence for Taranis, it shareholders, and its contractors.

The two delayed permits relate to areas that include 27 Crown Grant Mining Claims (surface and mineral rights) and Min
--->eral Tenures owned 100% by Taranis that form the core of the existing deposit. The Permit delays do not affect the gol
--->d pilot plant, which is fully permitted under the Ministry of Energy and Mines (1630302201601) and bonded for operatio
--->n in summer 2017.

Although some of the issues related to the permits are topical in nature, there are other deep underlying issues that 
--->appear to be new and have major impact at Thor. These include pre-existing surface disturbance reclamation that date b
--->ack to the late 1800's on several historic mines on the property, and restrictions that will be imposed due to the pro
--->tected ungulate winter range for the 'red listed' species Mountain Caribou. Despite having worked for over 10 years on
---> the project, Taranis has never encountered a caribou at Thor.

John Gardiner, CEO of Taranis states that "While we are optimistic to push forward with our exploration activities at 
--->Thor, there is no use in conducting any further activity until the critical issues pertaining to the current Notice of
---> Work permits are resolved. These include the responsibility of previous, un-reclaimed surface disturbance at Thor con
--->ducted between 1897 and 2006, and the restrictions that will be imposed due to the protected ungulate winter range for
---> the red listed species Mountain Caribou. Taranis was never consulted about the imposition of the Mountain Caribou sta
--->tus to the area, despite having a significant Ag-Au-Cu-Pb-Zn deposit. While Taranis has attempted to conduct our explo
--->ration at Thor in the most environmentally conscious manner possible (including the use of pre-existing roads to minim
--->ize further surface disturbance), and work in concert with the Ministry of Energy and Mines, the permitting process ha
--->s room for considerable improvement, timely response and needs to be examined in greater detail before Taranis can con
--->fidently invest further resources to the project".

Taranis currently has 55,451,716 shares issued and outstanding (64,151,716 shares on a fully-diluted basis).

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

John J. 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: april72017ltr.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
Fax: (604) 681-0139
Email yeadon@securitieslaw.bc.ca
 REPLY ATTENTION OF: GLENN R. YEADON  
 OUR FILE:   46422
 
April 7, 2017 BY EMAIL

 
 
 
 Canada Stockwatch
Vancouver, B.C. 
By Email: to news@stockwatch.com

 
 
 Market News Publishing, Inc.
Vancouver, B.C. 
By Email: to news@baystreet.com

 
 
 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
eric.kacz@equities.com
 TSX Venture Exchange - via SEDAR
 British Columbia Securities Commission - via SEDAR
 Alberta Securities Commission - via SEDAR
 Ontario Securities Commission - via SEDAR