Taranis Updates Core Drilling Permit Progress at Thor
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
14247 West Iliff Avenue
Lakewood, Colorado
80228-5421
www.taranisresources.com
Taranis Updates Core Drilling Permit Progress at Thor
Lakewood, Colorado, May 31st, 2017 – Taranis Resources Inc. ( “Taranis” or the “Company”)
[TSX.V: TRO] & [OTCQB: TNREF] is providing an update to exploration core hole permitting
at its 100%-owned Thor Project, British Columbia. The Company recently received updates on
two five-year Notice of Work (“NOW”) permits from the Ministry of Energy and Mines.
Ridge Target (2G Exploration)
The Ridge Target is a greenfield exploration target that could extend the existing deposit to
almost 4 km in strike length if suc cessfully explored, and consequently exploration of this target
has been g iven heightened priority by Taranis management. Originally the Company had
planned to drill the target using a 3.5 km long pre-existing road completed in the early 1980’s .
During the review of the initial application, t he Ministry of Energy and Mines requested that
Taranis assume responsibility and subsequent reclamation for the road, and permit compliant
bridges over wetlands. In view of this decision, Taranis modified the NOW so tha t it utilized a
helicopter to move the drill onto the drill pads and minimize impact to the area of previous
surface disturbance.
Broadview Drilling (1G Exploration)
Taranis also has a 5 year NOW application involving 31 drill site s and associated trail
construction at the Broadview Mine . This area requires new r oad construction to complete
section spaced drilling to define additional NI 43 -101 Resource -compliant material. Despite
having only limited drilling, th e Broadview area has extensive underground development that
has exposed mi neralization in the sub -surface, and the Company is confident that there is
significant potential to add new material to the existing resource in this area.
Timeline for Permitting Approval
Despite sta rting on the permitting process early in 2017, Taranis has encountered significant
delays in obtaining permits at Thor this year. The final stage of the NOW permitting process
involves Consultation. Permitting Consultation takes approximately two months to complete, and
is reviewed by the Ministry of Energy and Mines, and other groups such as Forest, Lands and
Natural Resource Operations, Recreation & Trails, Ministry of the Environment , and First
Nation groups. Although Taranis is anticipating that the permits will be issued in mid -late July,
the timeline remains unknown.
Impact of Ungulate Winter Range on Exploration Activities at Thor
Taranis is also seeking assurance from government agencies that continued exploration activities
at Thor will not be jeopardized by uncertainties that exist under regulations defined under the
Ungulate Winter Range pertaining to the southern mountain caribou habitat . While Taranis has
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operated under these guidelines since 200 6 when it acquired the project and feels that mining
exploration and development is compatible with the existing regulations, there remains
uncertainty moving forward as to how these regulations are interpreted and managed.
John Gardiner, President and CEO states “Over the next two months, we will focus our efforts on
the gold pilot plant at Thor. During this period, we expect to get a better understanding of the
timetable related to the pending exploration permits. Taranis management is committed to
carefully managing the share capital of the Company, and our decision to undertake a major
drilling program at Thor will be examined in more detail over the next couple of months as we
learn about our progress with the permitting issues at Thor”.
Qualified Person
John Gardiner (P.Geol .) is the Qualified Person on the Thor Project, and supervised the
preparation and scientific and technical disclosure in this News Release.
About Taranis Resources Inc.
Taranis is an exploration company focused on the development of its 100%-owned Thor project
in southeast British Columbia . Taranis’ mandate is to recognize mineral deposits early in the
exploration cycle that can be developed through intelligent exploration and business alliances.
For additional information on Taranis or its Thor project, please visit our we bsite at
www.taranisresources.com.
Taranis currently has 55,451,716 shares issued and outstanding ( 62,926,716 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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actual results may differ materially from expected results.