Exploration Permits Delayed at Thor, Potentially Impacting 2017 Work Program
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
14247 West Iliff Avenue
Lakewood, Colorado
80228-5421
www.taranisresources.com
Exploration Permits Delayed at Thor, Potentially Impacting
2017 Work Program
Lakewood, Colorado, April 7 , 2017 – Taranis Resources Inc. ( “Taranis”) [TSX.V: TRO ]
[OTCQB: TNREF ] is providing an update on permitting its Thor Project located near Trout
Lake, British Columbia.
Background
Taranis has completed over 220 core holes on the Thor project, a maiden NI 43 -101 Resource
estimate, metallurgical studies and cash flow analyses , and has also proactively undertaken
environmental studies including acid rock drainage, climate studies, and soil pH analysis.
The current focus at Thor is the delineation of additional Resource material found in several
areas peripheral to the existing deposit, and a “stand-alone” target 1.4 km north of the existing
deposit (Ridge Target) that appears to be co nnected to the existing deposit that if tested and
yielded positive results would increase the strike length of the deposit to almost 4 km.
Current Permitting Status
Pursuant to an update of Exploration activity at Thor (March 20 th, 2017 News Release) where
Taranis submitted two Notice of Work Am endments at Thor ( 1630302201701 &
1630302201702) to the Ministry of Energy and Mines in Cranbrook, Taranis has received
notification that the applications will be delayed. Taranis submitted the Notice of Work
applications at least three months p rior to any planned exploration work, the usual timeframe for
operating in the narrow field season between June 15 th and late September at Thor . Financing
and drilling any of these targets requires months of preparation and planning, and unforeseen
delays are of direct consequence for Taranis, it shareholders, and its contractors.
The two delayed permits relate to areas that include 27 Crown Grant Mining Claims (surface and
mineral rights) and Mineral Tenures owned 100% by Taranis that form the core of the existing
deposit. The Permit delays do not affect the gold pilot plant, which is fully permitted under the
Ministry of Energy and Mines (1630302201601) and bonded for operation in summer 2017.
Although some of the issues related to the permits are topical in nature, there are other deep
underlying issues that appear to be new and have major impact at Thor. These include pre-
existing surface disturbance reclamation that date back to the late 1800’s on several historic
mines on the property, and restrictions that will be imposed due to the protected ungulate winter
range for the ‘red listed’ species Mountain Caribou. Despite having worked for over 10 years on
the project, Taranis has never encountered a caribou at Thor.
John Gardiner, CEO of Taranis states that “ While we are optimistic to push forward with our
exploration activities at Thor, there is no use in conducting any further activity until the critical
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issues pertaining to the current Notice of Work permits are resolved. These include the
responsibility of previous, un -reclaimed surface disturbance at Thor conducted between 1897
and 2006, and the restrictions that will be imposed due to the protected ungulate winter range for
the red listed species Mountain Caribou. Taranis was never consulted about the imposition of the
Mountain Caribou status to the area, despite having a significant Ag -Au-Cu-Pb-Zn deposit.
While Taranis has at tempted to conduct our exploration at Thor in the most environmentally
conscious manner po ssible (including the use of pre -existing roads to minimize further surface
disturbance), and work in concert with the Ministry of Energy and Mines, the permitting process
has room for considerable improvement, timely response and needs to be examined in g reater
detail before Taranis can confidently invest further resources to the project”.
Taranis currently has 55,451,716 shares issued and outstanding ( 64,151,716 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
14247 West Iliff Avenue
Lakewood, Colorado
Phone: (303) 716-5922
Cell: (720) 209-3049
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This News Release may contain forward looking statements b ased 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.