Taranis Develops Drilling Target S Northwest of Existing Deposit Along Dominant Structural Trend, Announces Closing of Debt Settlement
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
TARANIS DEVELOPS DRILLING TARGET S NORTHWEST OF EXISTING
DEPOSIT ALONG DOMINANT STRUCTURAL TREND, ANNOUNCES
CLOSING OF DEBT SETTLEMENT
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
Estes Park, Colorado, January 9, 2020 – Taranis Resources Inc. ( “Taranis”) [TSX.V: TRO ,
OTCQB: TNREF] would like to make the following corporate and project updates.
Taranis has remodeled all its geological and geophysical data on the Thor project and
incorporated this into an exciting 3D geological model. This main f ocus was to integrate the
successful results of the 2019 Lidar survey, and a structural mapping program that shed
considerable insight into the geological controls of mineralization at Thor . Some of the results of
the modeling and structure are available o n the Taranis Resources website
(www.taranisresources.com).
The model suggests that the Blue Bell Zone and Ridge Targets extend northwesterly under
Thor’s Ridge for upwards of 1.1 km to the SIF North gold occurrence. If drilling is successful in
this area at delineating mineralization, it has the potential to expand the deposit to almost 2.5 km
in strike length , doubling the current strike length . There are also EM-37 and strong VLF
conductors in this area that have not been tested and could indicate miner alized zones. Taranis
has la id out high-priority drill targets in this area, many of which are already permitted , and
ready to drill in 2020.
Closing of Debt Settlement
Taranis also would like to announce that it has closed the debt settlements originall y announced
on December 20, 2019 . The debt settlements consisted of the issuance of 2,143,358 common
shares at a deemed price of $0.07 per share to settle outstanding indebtedness of $150,035.
All of the securities issued pursuant to the debt settlements are subject to a hold period in Canada
until May 9, 2020.
About Taranis Resources Inc.
Taranis is an exploration company focused on the development of its 100% -owned Thor project
in southeast British Columbia. The Company has a clear growth strategy that involves the
ongoing growth of the mineral Resource at Thor, and commercial mining of the deposit . For
additional information on Taranis or its Thor project, please visit our website at
www.taranisresources.com.
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Taranis currently has 71,074,500 shares issued and outstanding ( 82,733,266 shares on a fully -
diluted basis).
The securities referred to in this news release have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and may not be offered or sold withi n the
United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an
applicable exemption from the U.S. registration requirements. This news release does not
constitute an offer for sale of securities for sale, nor a so licitation for offers to buy any
securities. Any public offering of securities in the United States must be made by means of a
prospectus containing detailed information about the company and management, as well as
financial statements.
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
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 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.