Mr. John Gardiner reports

TARANIS RESOURCES INC. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Taranis Resources Inc. has closed the private placement announced June 20, 2025, for total proceeds of $373,085.

The private placement consisted of the sale of a total of 2,072,693 units at a price of 18 cents each, with each unit consisting of one common share and one common share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of 25 cents until July 21, 2027.

All of the shares issued pursuant to this private placement, including any shares that may be issued pursuant to the exercise of the warrants, are subject to a hold period in Canada until Nov. 22, 2025. The proceeds from this private placement will be used to incur further exploration expenses at the company's Thor property in southeastern British Columbia as well as for working capital purposes.

An insider of the company purchased a total of 572,000 units pursuant to the private placement. The participation of this insider in the private placement constituted a related party transaction within the meaning of TSX-V Policy 5.9 and Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. Taranis has relied on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 on the basis that the fair market value (as determined under MI 61-101) of insider participation in the private placement does not exceed 25 per cent of Taranis's market capitalization.

Qualified person

Exploration activities at Thor are overseen by John Gardiner, PGeo, who is a qualified person under the meaning of National Instrument 43-101. Mr. Gardiner is the principal of John J. Gardiner & Associates LLC, which operates in British Columbia under firm permit No. 1002256. Mr. Gardiner is the president and chief executive officer of Taranis Resources.

Taranis currently has 102,421,487 shares issued and outstanding (119,972,613 shares on a fully diluted basis).

We seek Safe Harbor.