Mr. John Gardiner reports

TARANIS RESOURCES INC. ANNOUNCES PRIVATE PLACEMENT

Taranis Resources Inc. has arranged a non-brokered private placement offering, to consist of the sale of up to 7.6 million units at a price of 11 cents per unit, to raise gross proceeds of up to $836,000. Each unit will consist of one common share and one share purchase warrant, with each warrant to entitle the holder to purchase one additional common share at a price of 15 cents for a period of three years from closing. (The participants in the offering will also be granted the right of refusal to participate in a subsequent financing on a pro rata basis in the event the exploration permit is issued by the British Columbia Ministry of Energy, Mines and Low Carbon Innovation, as applied for in August, 2022 (see the Taranis news release dated May 31, 2023). This subsequent financing, which would be subject to regulatory acceptance, would be targeted to raise approximately $2-million to finance the expenses and drilling costs associated with drilling the porphyry target identified at the Thor project, as well as continuing overhead and administrative expenses through 2025. It is anticipated that this subsequent financing would be priced at 20 cents per unit or such greater price as provided for in the policies of the TSX Venture Exchange, with each unit to consist of one common share and one share purchase warrant, with each warrant to entitle the holder to purchase one additional common share at a price of 27 cents, or such greater price as provided for in the policies of the TSX Venture Exchange, for a period of three years from closing. Additional information regarding the status of Taranis's application for this exploration permit will be provided as it becomes available.)

The proceeds from the offering, which is subject to regulatory acceptance, will be used for further exploration at the company's Thor project in southeastern British and for general working capital purposes.

All securities issued pursuant to the offering, including any shares that may be issued pursuant to the exercise of the share purchase warrants, will be subject to a hold period in Canada of four months plus one day from closing.

About Taranis Resources Inc.

Taranis Resources is a well-positioned exploration company that is exploring and developing its 100-per-cent-owned Thor precious base metal project in British Columbia. Taranis has drilled over 250 drill holes on the project, defining a near-surface epithermal deposit that is over two kilometres long. Taranis refers to the epithermal trend as the trunk, invoking the anatomy of an elephant to portray the connection of the epithermal deposit to the underlying Jumbo and Horton intrusive targets.

Qualified person

Exploration activities at the Thor project are overseen by John J. Gardiner (PGeo), who is a qualified person under the meaning of Canadian National Instrument 43-101. Mr. Gardiner is a principal of John J. Gardiner & Associates LLC, which operates in British Columbia firm permit No. 1002256.

For additional information on Taranis or its 100-per-cent-owned Thor project in southeastern British Columbia, visit the company's website.

Taranis currently has 85,937,104 shares issued and outstanding (93,012,104 shares on a fully diluted basis).

We seek Safe Harbor.