Mr. John Gardiner reports

TARANIS DISCOVERS NEW AREA OF EPITHERMAL MINERALIZATION AT THOR 1.4 KM SOUTHEAST OF THOR EPITHERMAL DEPOSIT

Taranis Resources Inc. has provided an update on exploration activities at Thor. This news release discusses a new, near-surface area of epithermal precious and base metal mineralization, called Borr, found 1,400 metres southeast of the southern end of the Thor epithermal deposit. This mineralization is located under a topographic slope west of the main access road and does not outcrop. There are no historic workings located in the area, and this is a virgin discovery.

Drill hole Thor-256

Drill hole Thor-256 was drilled to the southwest at a dip of 45 degrees toward a deeper geophysical resistivity anomaly (Z-900/1300) located under a steep hillside. Subsequent news releases will discuss the source of this anomaly, which is in part associated with a lamprophyre dike. Shortly after collaring into bedrock, drill hole Thor-256 intersected epithermal mineralization hosted within metasedimentary and metavolcaniclastic rocks. There are photographs posted on Taranis's website. Massive pyrite, sphalerite, galena and tetrahedrite were visibly identified in the core. The following table details the analytical results.

Comment

The Thor-255 epithermal intercept is the only known substantive occurrence of mineralization outside of the existing Thor National Instrument 43-101 mineral resource, and it occurs on the east side of a positive aeromagnetic feature. The entire existing Thor NI 43-101 mineral resource occurs on the west side of the aeromagnetic feature. The Thor epithermal deposit may form an inverted horseshoe-shaped feature around the aeromagnetic anomaly. The company's prior exploration work at Thor has shown that intercepts such as the Thor-256 intercept are part of much larger mineralized systems, and, in the future, drilling will need to move both north and south from the initial Borr intercept. The Borr area is therefore an opportunity for considerable expansion of the existing high-grade, near-surface mineral resource.

Qualified person

Exploration activities at Thor were overseen by John Gardiner, PGeo, who is a qualified person under the meaning of NI 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 and has reviewed and approved the comments contained within this news release.

Quality control and laboratory methods

All samples for the Thor project were securely delivered to Actlabs in Kamloops, B.C. Analytical work was completed both at the Kamloops, B.C., and Ancaster, Ont., locations. Actlabs is ISO 17025 accredited.

Visibly or potentially mineralized sections of core were systematically sampled after sawing the core in half on site. Samples were analyzed for 42 elements by four-acid digestion/inductively coupled plasma -- mass spectrometry (ICP-MS) and for gold by 30-gram fire assay/atomic absorption spectrophotometry (AAS).

Where overlimit values were encountered in the analysis of these samples, ore-grade determinations were made using subsequent ICP analysis and gravimetric methods. As a quality control (QC) measure, Taranis also submitted analytical standards into the sample stream every tenth sample in addition to the laboratory's own quality control methods.

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