Taranis Details What Lies Under Thor – A Lamprophyre Intrusive and Related Alteration That Has Direct Affiliation with Calc-Alkaline Epithermal Deposits
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
Taranis Details What Lies Under Thor – A Lamprophyre Intrusive and Related Alteration That
Has Direct Affiliation with Calc-Alkaline Epithermal Deposits
Estes Park, Colorado, December 29th, 2025 – Taranis Resources Inc. (“Taranis” or the “Company”)
[TSX.V:TRO, OTCQB:TNREF] is providing a summary of ongoing exploration results from its Thor
Property. In 2024, Taranis initiated a deep drilling program under the south end of the Thor deposit that
tested a number of aeromagnetic and magnetotelluric (“MT”) resistivity anomalies t hat underly the Thor
deposit. The source of these anomalies is now known to be lamprophyre intrusive rocks and accompanying
alteration. The presence of lamprophyres at Thor, and the Silver Cup Mining District in general are
indicative that the district has potential to ho st world-class calc -alkaline epithermal deposits similar to
Cripple Creek in Colorado, and Golden Sunlight, Montana. The deposit is known to be intruded by this
younger lamprophyre dyke system, and is ‘cut-off’ at depth by the intrusive. The 2025 discovery of the Borr
Zone on the east side of the lamprophyre dyke -alteration system indicates that the epithermal deposit
remains intact at depth and open. This finding offers unprecedented potential to expand the Thor deposit at
depth and is where Taranis will focus on drilling in the foreseeable future. In a larger sense, it shows as a
graphic example as how modern exploration methods such as deep drilling, geophysics and geochemistry
can be integrated to revitalize exploration in old mining districts and expand on previously known mineral
deposits.
Lamprophyre Intrusive at Thor
Lamprophyre intrusives have never been described before in detail within the Silver Cup Mining District ,
although they are known elsewhere in Southeast British Columbia (Salmo, Golden). These intrusive rocks
are derived from the mantle and are commonly porphyritic and a ccompany intrusive breccias. The dykes
are mafic in composition and have high levels of magnesium, nickel, copper and chromium. Lamprophyres
at Thor are linear, steeply dipping dyke-shaped bodies that have intruded into intensely -folded lower
Paleozoic-age metasedimentary and metavolcaniclastic rock units. The main lamprophyre body and the
epithermal deposit clearly cross-cut the older Silver Cup Anticline. Modelling of the deposit and the
intrusive dyke-alteration system show that the intrusive has ‘punched-through’ and intruded the epithermal
deposit essentially breaking it into two halves. The west (upper) half is the currently known Thor deposit ;
and the east (lower) half was discovered in 2025 and is now called the Borr Zone (See Taranis News Release
October 27, 2025)
Alteration Related to Lamprophyres
The lamprophyre -related alteration zones can be identified and mapped using airborne geophysical
magnetic and MT surveys, and constitute the main targets that were drilled in the 2024 and 2025 drilling
programs. While the lamprophyre dykes themselves are relatively thin (meters), the metasomatism
associated with the dykes is volumetrically large and this metasomatism can extend tens of meters away
from the lamprophyre dykes themselves . Some of the lamprophyre-related alterations include the
introduction of magnetite into the host rocks, introduction of g arnet (grossular-andradite), chloritization,
2
albitization, carbonatization and pyritization. Other lamprophyre-unique alteration features also include
ocelli, and gold-bearing fuchsite along the edges of the lamprophyre dyke . In one drill hole (Thor-256), a
magnesite carbonatite intrusive body is associated with lamprophyre.
Relationship to Conductivity Tusks at Thor
In 2022, MT identified two large conductivity features that are spatially related to the lamprophyre. The
North and South Tusks bracket the lamprophyre body and its associated alteration. In one area w here the
North Tusk is exposed near surface north of Thor’s Ridge (Megagossan), the extensive gossan is enriched
in iron, nickel, copper, chromium and the host rocks are graphitic. This demonstrates that the lamprophyre
intrusive rocks had widespread thermal alteration that extended upwards of 1km away from the dyke itself.
The source of the conductivity anomaly is conductive carbonaceous material derived from ‘cooked’ organic
matter in the host metasedimentary rocks.
Comments
Lamprophyre rocks are known to be genetically associated with some of the largest (calc -alkaline)
epithermal deposits in North America , and are also associated with silver-rich base metal deposits
(Tonopah, Nevada). The presence of lamprophyres is direct evidence that a deep structure tapped-down into
the mantle under Thor and provided the heat engine to the hydrothermal system that formed the lamprophyre
dyke, but almost certainly the epithermal deposit itself. As such, once the epithermal deposit was emplaced
and the intrusive-related system continued to evolve, mantle derived lamprophyre intrusive rocks intruded
the epithermal deposit, cutting it in half. This fully explains one of the enduring mysteries encountered at
Thor when miners in the 1930’s drove a major 1 km long exploration tunnel (Morgan Tunnel) downdip of
the epithermal deposit, and encountered no mineralization. Unknowingly, they had driven the exploration
adit along the west edge of the lamprophyre dyke where the deposit had been intruded and consumed by
the lamprophyre dyke-alteration system.
Despite the Silver Cup Mining District having been explored and mined for upwards of 100 years, there has
been no direct mention of these important intrusive bodies. Some of the previous workers described these
rocks as the “Middle Volcanic Member of the Broadview Formation”, so although they were recognized as
being volcanic in origin – no one recognized them as being intrusive. The Silver Cup Mining District has
historically been classified as a bunch of silver -rich veins broadly associated with a feature known as the
Silver Cup Anticline but of no obvious origin. What our exploration work at Thor has demonstrated is that
these deposits are in fact calc-alkaline intrusive-related deposits, and as such have close affinity to some of
the largest epithermal deposits in North America. Taranis has assembled a substantial land position (6,500
Ha) in the Silver Cup District over some of the most prospective historic deposits recognizing that historic
mining has only “scratched the surface”.
Qualified Person
Exploration activities at Thor were overseen by John Gardiner (P. Geo.), who is a Qualified Person under
the meaning of Canadian National Instrument 43-101. John Gardiner is the principal of John J. Gardiner &
Associates, LLC which operates in British Columbia under Firm Permit Number 1002256. Mr. Gardiner is
the President and CEO of Taranis Resources Inc. and has reviewed and approved the comments contained
within this News Release.
3
Taranis currently ha s 102,421,487 shares issued and outstanding ( 119,972,613 shares on a fully -diluted
basis).
TARANIS RESOURCES INC.
Per: John J. Gardiner (P. Geo.),
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
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 l ooking 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 di ffer
materially from expected results.