Taranis Resources Inc. Announces Closing of Private Placement

FOR IMMEDIATE RELEASE

Taranis Resources Inc.

14247 West Iliff Avenue Lakewood, Colorado 80228-5421 www.taranisresources.com

TARANIS RESOURCES INC. ANNOUNCES CLOSING OF PRIVATE PLACEMENT

NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES

Lakewood, Colorado, November 20, 2017 – Taranis Resources Inc. (“Taranis”) [TSX.V: TRO] [OTCQB: TNREF] announces that it has closed the $100,000 private placement announced on October 30, 2017. The closing consisted of the issuance of 833,333 units at a price of $0.12 per unit, each unit consisting of one common share and one share purchase warrant, with each warrant entitling the holder to purchase one additional common share at a price of $0.15 until November 17, 2019. All of the securities issued pursuant to the private placement, including any shares that may be issued pursuant to the exercise of the share purchase warrants, are subject to a hold period in Canada until March 18, 2017.

About Taranis Resources Inc.

Taranis is an exploration and mining company focused on the development of its 100%-owned Thor project in southeast British Columbia. In 2017, Taranis undertook a fully permitted mining operation on the property aimed at recovering gold and gaining a better understanding of the newly discovered gold zones at Thor. Taranis is pursuing two parallel and distinct strategies at Thor: one focused on continuing to mine the deposit in a series of three steps, and the other is the continued growth and expansion of the existing deposit. Please visit our website at www.taranisresources.com for more information.

Taranis currently has 56,785,049 shares issued and outstanding (65,043,382 shares on a fullydiluted basis).

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

TARANIS RESOURCES INC.

Per: John J. Gardiner (P. Geol.), President and CEO

For further information contact:

John J. Gardiner 14247 West Iliff Avenue Lakewood, Colorado Phone: (303) 716-5922 Cell: (720) 209-3049 [email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

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.