Updated mineral resource estimate for Taranis Resources Inc.'s Thor project.

Taranis Resources Inc. recently updated the mineral resource estimate (MRE) for its Thor project in British Columbia, a 100% owned property by the company. Since acquiring the Thor project in 2006, Taranis has completed 250 drillings exposing a surface epithermal deposit more than 2.2 km long. The initial MRE carried out in 2013 by Roscoe Postle and Associates was upgraded by P&E Mining Consultants Inc., revealing excellent exploration prospects for the epithermal deposit.

The new MRE allowed Taranis to better understand the geology and genesis of the deposit, leading to the discovery of the Thunder Zone north of the Thor deposit as well as other exploration targets such as Horton and the Intrusive Target. Exploration at Thor is now divided into two parts: an epithermal deposit of precious and base metals and an underlying conceptual source currently in the permitting process.

The results of this update indicate a significant increase in indicated tonnes, including 1.139 million tonnes with grades of 0.75 g/t Au and 15.20 g/t Ag, as well as inferred resources totaling 599 thousand tons with slightly lower grades. Taranis plans to continue exploration of the surface epithermal zone and focus on the underlying intrusive target for continued resource growth.