Taranis and Gnumont Move Nevada Exploration Project Forward
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
Taranis and Gnumont Move Nevada Exploration Project Forward
Estes Park, Colorado, June 11, 2020 – Taranis Resources Inc. (“Taranis”) [TSX.V: TRO,
OTCQB: TNREF] is pleased to provide an update on its exploration activities with Gnumont Gold
LLC (“Gnumont”), aimed at identifying new large -scale gold deposits in Nevada, as origina lly
announced on April 14, 2020, and as updated on May 14, 2020.
Gnumont, which is a private entity controlled by John J. Gardiner, the President and CEO of
Taranis, has formed a mineral exploration syndicate known as the “LID Syndicate”, which will
consist of up to twenty ownership interests (www.lidgold.com). The LID Syndicate will provide
an opportunity for individual investors and companies to participate in a prototype exploration
project, the object of which is to identify exploitable gold deposits exceeding 5M ounces of gold,
and Taranis is pleased to be part of this project at a very early stage. The Syndicate is designed to
provide its participants exposure to exploration potential of a caliber typically reserved for major
mining companies.
Under the terms of Taranis’s agreement with Gnumont, Taranis will be granted two ownership
interests in the LID Syndicate for having contributed geophysical, drill hole data and computer
modelling software, with Gnumont also to be granted two owner ship interests for organizing the
Syndicate and for developing new ex ploration approaches and modeling to target large gold
deposits in Nevada, with the remaining sixteen ownership interests to be sold to syndicate members
at a price of USD $20,000 each.
Phase 1 of the Project, known as the “LID Project”, was completed on M ay 26, 2020. During
Phase 2, the LID Syndicate will seek to raise USD$320,000 to complete targeted magnetotelluric
surveys in a single area of Nevada that Gnumont and Taranis agree has the unrealized potential to
host world-class gold deposits.
John Gardiner, President and CEO of Taranis states “Although Nevada is subject to plenty of
exploration activity, much of it is focused on small projects that cannot realistically yield deposits
in excess of a million ounces. We believe Gnumont has identified an overlooked geological
situation that is capable of concealing one or many large Carlin-type deposits. Gnumont has shared
with Taranis its compelling geological model which outlines the genesis of mineralization in t his
extremely rich area, and which also accounts for the prolific gold deposits found in close proximity
to our target area. These types of prospects are expensive and risky to explore for, but the rewards
are substantial. The syndicate is a tailored business structure that will enable Taranis and
technically sophisticated investors the opportunity to explore for these remarkable gold deposits.
Both the geological target and the business opportunity itself are innovative, and we have great
expectations for the syndicate approach.”
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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 71,074,500 shares issued and outstanding ( 82,733,266 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
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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.