Mr. John Gardiner reports

TARANIS STILL WAITING FOR MINERAL TENURE CONSULTATION 186 DAYS AFTER INITIATION OF CONSULTATION

Taranis Resources Inc. has provided an update on permitting activities at Thor.

Mineral tenures staked July 1, 2025

Taranis staked additional claims to the south and east of the new mine clusters on July 1, 2025. These mineral tenures were sent out for first nations consultation on Aug. 28, 2025, under the newly created mineral claims consultation framework (MCCF). The Ministry of Critical Minerals indicated that mineral tenure consultations should last 90 to 120 days. However, as of 186 days, Taranis has not received any comments under the MCCF. On Dec. 26, 2025, the company contacted the Chief Gold Commissioner's Office for an explanation of the delays, but no response has been received from the Chief Gold Commissioner's Office and has made the permitting situation opaque.

Notice-of-work permit application

Taranis submitted a notice-of-work (NoW) permit application to access an area east of Ferguson Creek. Front Counter B.C. acknowledged receipt of this document on Feb. 3, 2026. The NoW application outlines access plans to explore the newly added portion of the property acquired in January, 2025. Taranis acquired mineral tenures (covering the highly prospective Silver Cup anticline in this area) that cover many historic prospects and mines, including the Abrahamson, Slash, GYP, Nettie L. and Ajax mines, which have received no exploration in the past half-century.

Comments

Permitting activities are crucial to an exploration company's ability to delineate mineral resources. Taranis recognizes the importance of reconciliation with first nations and supports British Columbia's efforts to address the complicated issues involved. At the same time, the company has a duty to its shareholders and the business community to disclose when critical regulatory benchmarks are missed. The lack of timely administrative clarity threatens to undermine both reconciliation and economic progress in the province, and Taranis calls for transparent, predictable processes that honour tradition while enabling responsible mineral resource development.

Qualified person

Exploration activities at Thor were overseen by John Gardiner, PGeo, president and chief executive officer of Taranis Resources and a qualified person under National Instrument 43-101. Mr. Gardiner is the principal of John J. Gardiner & Associates LLC, operating in British Columbia under firm permit No. 1002256. Mr. Gardiner has reviewed and approved the comments contained within this news release.

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

We seek Safe Harbor.