Taranis Executes Drilling Contract to Conduct Deep Drilling at Thor

ESTES PARK, June 11, 2024 - Taranis Resources Inc. ("Taranis" or the "Company") (TSX.V:TRO)(OTCQB:TNREF) is providing an update on its 2024 exploration program at Thor.

Deep Drilling Program

The Company has engaged Atlas Diamond Drilling ("Atlas", of Kamloops, British Columbia) to conduct drilling at Thor on several deep-seated drill targets. Atlas completed drilling in 2018 at Thor and is familiar with the terrain and project conditions.

There are two primary targets that will be explored with deep drilling; both having the potential to discover large, bulk mineable deposits:

• Intrusive Target - A large 1,300 m x 1,000 m diameter priapic-shaped magnetic-low capped by a magnetite-rich cupola. Limited outcropping related to the periphery of this feature in Broadview Creek show extensive epidote and chlorite alteration accompanied by banded magnetite and amphibole minerals. This unit is also characterized by potassium enrichment, and various feldspar minerals including plagioclase and orthoclase.
• Tusks - Two conductive features approximately 3 km long each are spatially located around the Intrusive Target. The conductive Tusks do not outcrop at surface, and their geometric disposition suggests they are hypogene alteration related to the Intrusive Target, such as carbonate and sulfide mineralization. These conductive Tusks frequently exhibit bulges upwards into areas of high-grade mineralization such as at the Broadview Mine suggestive of a connection between the epithermal mineralization, the Tusks and also the intrusive Target.

About Taranis and Thor

Taranis Resources Inc. is a Canadian mineral exploration company. The Thor Project is located in southeast British Columbia, and is comprised of 3,807 hectares of Mineral Tenures and 27 Crown Grant titles to precious and base minerals, many of which include surface rights. Thor is a brownfield mine site, having been mined on a small-scale since as early as 1896. Taranis has demonstrated via extensive diamond drilling that the historical mines are connected as part of a much larger mineralized system. Taranis has completed upwards of 250 drill holes and linked all of the previously known mines into a single, near-surface epithermal deposit that has been recently updated into a NI 43-101 Mineral Resource Estimate. Taranis is now undertaking deep drilling which aims to prove or disprove the presence of a large intrusion-related deposit connected to the known near-surface epithermal veins. Such linked epithermal-porphyry deposits are often world-class sources of critical and precious metals.

Qualified Person

Exploration activities at Thor were overseen by John Gardiner (P. Geo.), who is a Qualified Person under the meaning of Canadian National Instrument 43-101. John Gardiner is a principal of John J. Gardiner & Associates, LLC which operates in British Columbia under Firm Permit Number 1002256. Mr. Gardiner has reviewed and approved the comments contained within this News Release.

For additional information on Taranis or its 100%-owned Thor project in British Columbia, visit www.taranisresources.com.

Taranis currently has 97,087,027 shares issued and outstanding (109,262,027 shares on a fully-diluted basis).

Taranis Resources Inc.
Per: John J. Gardiner (P. Geo.)
President and CEO

For further information contact:

John J. Gardiner
681 Conifer Lane
Estes Park, Colorado 80517
Phone: (303) 716-5922
Cell: (720) 209-3049
johnjgardiner@earthlink.net

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This News Release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from expected results.

SOURCE: Taranis Resources Inc.