Strategic Metals at Thor Are “Vital to Growing Canada’s Clean, Modern Economy” Per New Federal/Provincial/Territorial Government Collaboration

FOR IMMEDIATE RELEASE

Taranis Resources Inc.

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

Strategic Metals at Thor Are “Vital to Growing Canada’s Clean, Modern Economy” Per New Federal/Provincial/Territorial Government Collaboration

Estes Park, Colorado, March 18, 2021 – Taranis Resources Inc. (“Taranis” or the “Company”) [TSX.V: TRO, OTCQB: TNREF] is pleased to report on developments related to its Thor precious-base metal project in southeast British Columbia.

On March 11, 2021, Natural Resources Canada (“NRC”) published a list of 31 critical minerals which have been deemed essential to Canada’s economic security and the transition to a low-carbon economy. (https://www.nrcan.gc.ca/criticalminerals). Zinc and copper already factor significantly in the existing Thor Resource and have now been listed as Canadian critical strategic metals. In addition to zinc and copper, exploration work has demonstrated that numerous other strategic metals occur at Thor in concentrations far exceeding crustal abundance – including antimony, bismuth, tellurium, indium, tin and cesium.

Test work such as the upcoming 10,000 tonne bulk sample will be fundamental to documenting grades of these metals in various fractions produced through gravity concentration. This work can ultimately determine if the Thor project is a capable producer of these important strategic metals in addition to its sizeable precious and base metal content.

Due primarily to the prevalence of zinc and copper, over 27% of the current estimated value at Thor comes from strategic metals. Virtually all the remaining value at Thor resides in precious metals (silver and gold). The interplay between precious and strategic metals puts Thor in a unique position to cater to disparate markets in a production scenario. Taranis is interested in unlocking even greater value from the Thor Resource by identifying and designing recovery and analysis methods for additional “companion metals” complementing the host precious and base metal minerals already known at Thor.

Companion metals (or ‘by-products’) are typically only recovered from mining of deposits for the host metals, such as silver, gold, zinc, lead, and copper. Companion metals are rarely found in sufficient concentrations to be mined independently - and therefore the production of companion metals is almost entirely dependent on the major host metals being mined. Production is of course also dependent on successful recovery of the companion metals.

The strategic metal fraction of Thor’s Resource is positioned to expand with the identification of more than a dozen new metals present in low tenors (typically less than 0.1%). Companion metals were identified using a 37.8 kg composite sample of split core from drill holes in the deposit that approximated the overall estimated grade of the deposit in addition to prior metallurgical work.

The following table lists the companion metals at Thor, and ten of the fourteen metals are classified as strategic metals by NRC (not including the strategic host metals copper and zinc). The table qualitatively estimates the relative importance of the metals to the Thor deposit based on the known concentrations and existing metallurgical recovery processes.

Companion Metals at Thor

Companion Symbol Strategic Metal Estimated Metal Importance (1 to 10)

10 being particularly important

The potential contribution of companion metals is inadequately understood. Significance of these metals to the Resource can only be assessed after completion of a 10,000-tonne bulk sample that is currently in the final stages of permitting. Determinations of concentration and recovery rates require multiple advanced analytical techniques that have not been employed routinely at Thor.

John Gardiner, President and CEO remarks, “British Columbia’s commitment to transitioning to clean energy sources has set Taranis up for long term success with its high-grade, near-surface Thor deposit. We are excited to further explore the possibilities for production of strategic metals, including cadmium and tellurium – two elements critical for the manufacture of solar panels. The steady growth of interest in domestic production of the materials required for the switch to clean energy is encouraging for the prospects of successful mine development in Southeast British Columbia”.

Qualified Person

Exploration activities at Thor were overseen by John Gardiner (P. Geol.) who is a Qualified Person under the meaning of Canadian National Instrument 43-101.

About Taranis Resources Inc.

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

Taranis currently has 73,594,500 shares issued and outstanding (84,173,266 shares on a fully-diluted 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]

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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.