Received by email:

File: troMay_31_2017nrv4.docx

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

 
/

 
 


Taranis Updates Core Drilling Permit Progress at Thor

Lakewood, Colorado, May 31st, 2017 - Taranis Resources Inc. ("Taranis" or the "Company") [TSX.V: TRO] & [OTCQB: TNREF]
---> is providing an update to exploration core hole permitting at its 100%-owned Thor Project, British Columbia. The Comp
--->any recently received updates on two five-year Notice of Work ("NOW") permits from the Ministry of Energy and Mines.

Ridge Target (2G Exploration)

The Ridge Target is a greenfield exploration target that could extend the existing deposit to almost 4 km in strike le
--->ngth if successfully explored, and consequently exploration of this target has been given heightened priority by Taran
--->is management. Originally the Company had planned to drill the target using a 3.5 km long pre-existing road completed 
--->in the early 1980's. During the review of the initial application, the Ministry of Energy and Mines requested that Tar
--->anis assume responsibility and subsequent reclamation for the road, and permit compliant bridges over wetlands. In vie
--->w of this decision, Taranis modified the NOW so that it utilized a helicopter to move the drill onto the drill pads an
--->d minimize impact to the area of previous surface disturbance.

Broadview Drilling (1G Exploration)

Taranis also has a 5 year NOW application involving 31 drill sites and associated trail construction at the Broadview 
--->Mine. This area requires new road construction to complete section spaced drilling to define additional NI 43-101 Reso
--->urce-compliant material. Despite having only limited drilling, the Broadview area has extensive underground developmen
--->t that has exposed mineralization in the sub-surface, and the Company is confident that there is significant potential
---> to add new material to the existing resource in this area.

Timeline for Permitting Approval

Despite starting on the permitting process early in 2017, Taranis has encountered significant delays in obtaining perm
--->its at Thor this year. The final stage of the NOW permitting process involves Consultation. Permitting Consultation ta
--->kes approximately two months to complete, and is reviewed by the Ministry of Energy and Mines, and other groups such a
--->s Forest, Lands and Natural Resource Operations, Recreation & Trails, Ministry of the Environment, and First Nation gr
--->oups. Although Taranis is anticipating that the permits will be issued in mid-late July, the timeline remains unknown.

Impact of Ungulate Winter Range on Exploration Activities at Thor

Taranis is also seeking assurance from government agencies that continued exploration activities at Thor will not be j
--->eopardized by uncertainties that exist under regulations defined under the Ungulate Winter Range pertaining to the sou
--->thern mountain caribou habitat. While Taranis has operated under these guidelines since 2006 when it acquired the proj
--->ect and feels that mining exploration and development is compatible with the existing regulations, there remains uncer
--->tainty moving forward as to how these regulations are interpreted and managed.

John Gardiner, President and CEO states "Over the next two months, we will focus our efforts on the gold pilot plant a
--->t Thor. During this period, we expect to get a better understanding of the timetable related to the pending exploratio
--->n permits. Taranis management is committed to carefully managing the share capital of the Company, and our decision to
---> undertake a major drilling program at Thor will be examined in more detail over the next couple of months as we learn
---> about our progress with the permitting issues at Thor".

Qualified Person

John Gardiner (P.Geol.) is the Qualified Person 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%-owned Thor project in southeast British Colum
--->bia. Taranis' mandate is to recognize mineral deposits early in the exploration cycle that can be developed through in
--->telligent exploration and business alliances. For additional information on Taranis or its Thor project, please visit 
--->our website at www.taranisresources.com.

Taranis currently has 55,451,716 shares issued and outstanding (62,926,716 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: may312017ltr.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
 
May 31, 2017 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
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