Taranis Resources Inc. Announces Closing of Final Portion of Debt Settlement

FOR IMMEDIATE RELEASE

Taranis Resources Inc.

681 Conifer Lane Estes Park, Colorado 80517 www.taranisresources.com

TARANIS RESOURCES INC. ANNOUNCES CLOSING OF FINAL PORTION OF DEBT SETTLEMENT

Estes Park, Colorado, August 14, 2023 – Taranis Resources Inc. (“Taranis”) [TSX.V: TRO] announces that it has closed the final portion of the debt settlement originally announced on December 5, 2022 as a result of having received disinterested shareholder approval for the closing of this final portion at its Annual General and Special Meeting held on August 1, 2023. The closing consisted of the issuance of 1,049,923 common shares at a deemed price of $0.17 per share to settle outstanding indebtedness of $178,487 – these shares are subject to a hold period in Canada until December 11, 2023.

About Taranis Resources Inc.

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

Taranis currently has 94,587,027 shares issued and outstanding (109,262,027 shares on a fullydiluted basis).

TARANIS RESOURCES INC.

Per: John J. Gardiner (P. Geol.), 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 [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.