Taranis Drills 9.79 m of 0.77 g/t Gold, 100.3 g/t Silver, 1.87% Combined Pb+Zn+Cu, Discovers New Extension of Great Northern Zone
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
Taranis Drills 9.79 m of 0.77 g/t Gold, 100.3 g/t Silver, 1.87% Combined Pb+Zn+Cu,
Discovers New Extension of Great Northern Zone
Estes Park, Colorado, January 21, 2021 – Taranis Resources Inc. (“Taranis” or the “Company”) [TSX.V:
TRO] is pleased to report on final assay results from the remaining holes of the 2020 summer expl oration
program at Thor.
Drill Hole Thor-213
Drill Hole Thor-213 intersected the Great Northern Zone approximately 20m below drill hole Thor-214 that
intersected 10.64 m of 0.49 g/t Au, 249.4 g/t silver, and 7.7% combined Pb+Zn+Cu (See Taranis N ews
Release dated November 30th, 2020).
Sample Number From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu(%) Pb(%) Zn(%)
B0012388 43.86 44.38 0.52 1.53 227.0 0.08 0.21 0.25
B0012389 44.38 44.60 0.22 1.97 422.0 0.04 25.00 0.09
B0012390 44.60 45.51 0.91 0.71 119.0 0.06 0.96 1.11
B0012391 45.51 46.18 0.67 1.60 387.0 0.13 1.34 2.46
B0012392 46.18 47.55 1.37 0.14 55.8 0.02 0.29 1.14
B0012393 47.55 49.08 1.53 0.03 25.2 0.02 0.94 1.30
B0012394 49.08 50.75 1.67 0.03 2.6 0.01 0.08 0.82
B0012395 50.75 51.73 0.98 0.22 10.9 0.01 0.22 0.66
B0012396 51.73 52.86 1.13 3.26 152.0 0.06 0.07 0.04
B0012397 52.86 53.65 0.79 0.58 253.0 0.10 0.04 0.25
Average
9.79 0.77 110.3 0.05 0.99 0.88
This hole is the deepest drilled on the Great Northern Zone and shows an interesting trend where the
precious/base metal ration increases at depth, and the zone remains open at depth.
Drill Hole Thor-212 (hole lost)
Drill Hole Thor-212 intersected the Great Northern Zone at a depth of 39.63 m downhole. This hole was
located up-dip of hole Thor -124, and was abandoned after losing three drill bits in 30 cm of drilling at a
depth of 41.76 m. Despite this, the hole intersected the top of the Great Northern Zone and the partial results
are presented below:
Sample Number From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu(%) Pb(%) Zn(%)
B0012383 39.63 40.69 1.06 2.59 23.5 0.01 0.42 0.25
B0012384 40.69 41.76 1.07 0.46 1101.0 0.33 2.83 4.16
Average (partial)
2.13 1.52 564.8 0.17 1.63 2.21
Thor-215 was drilled in an area between the Great Northern and True Fissure portions of the deposit. This
drill intersected a “quartz stockwork zone” that had only weak sphalerite mineralization. In geological
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modeling, this hole was discovered to coincide with a cross-cutting fault that has offset the Great Northern
Zone from the T rue Fissure Zone. Geological modeling of the deposit in this area shows that the fault
accounts for a change in dip between the Great Northern and True Fissure zones in this area (see modeling
shown on www.taranisresources.com
Thor-211 was drilled 27 m down -dip of hole Thor -210 that intersected three zones including 2.9m of 0.5
g/t Au, 253 g/t Ag, and 7.1% combined Pb+Zn+Cu (see Taranis News Release dated November 12th, 2020).
Thor-211 hole intersected the following two zones:
Sample Number From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu(%) Pb(%) Zn(%)
B0012372 67.12 67.70 0.58 0.41 3.3 0.00 0.04 0.80
B0012373 67.70 67.88 0.18 0.66 278.0 0.11 6.35 4.02
B0012374 67.88 68.28 0.40 2.39 12.7 0.01 0.07 0.02
Average 1.16 1.13 49.2 0.02 1.03 1.03
A lower zone was also intersected that was immediately below the upper intercept.
Sample Number From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu(%) Pb(%) Zn(%)
B0012378 71.94 73.46 1.52 0.09 2.2 0.00 0.02 0.04
B0012379 73.46 73.86 0.40 0.69 111.0 0.04 2.20 8.85
Average
1.92 0.21 24.9 0.01 0.47 1.87
Discovery of a New Extension of Thor Deposit
In the summer of 2019, a resistivity/VLF survey was completed over an area that is located up-dip and west
of any known areas of mineralization at Thor. The closest drill hole is 75 m away, and the new area is
related to the up-dip extension of the Upper Great Northern Zone. The geophysical surveys identified a near
surface target that was drilled with two shallow holes from the same drill setup (Thor-216 & Thor-217).
Thor-216 (-45o) intersected a low-grade zone that was followed up with hole Thor -217 that intersected
higher-grade material directly below Thor-216.
Sample Number From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu(%) Pb(%) Zn(%)
B0012442 9.69 10.12 0.43 0.13 102.0 0.06 5.01 5.95
B0012443 10.12 10.67 0.55 0.10 8.9 0.01 0.16 0.01
B0012444 14.17 15.00 0.83 0.09 3.7 0.00 0.10 0.10
B0012445 15.00 15.76 0.76 0.28 8.1 0.00 0.17 0.39
B0012446 15.76 16.70 0.94 0.20 8.4 0.01 0.13 2.82
Average
3.51 0.07 18.8 0.01 0.32 0.70
Thor-217 (-90o) was drilled under Thor-216 from the same setup and showed rapidly escalating silver values
and high copper content (0.56% copper) typical of silver-rich parts of the Thor deposit. This hole is highly-
encouraging and follow-up diamond holes are warranted in this area to extend the zone at depth and along
strike.
Sample Number From (m) To (m) Interval (m) Au (g/t) Ag (g/t) Cu(%) Pb(%) Zn(%)
3241027 9.91 10.82 0.91 0.65 372.00 0.56 3.16 0.19
3241028 10.82 11.71 0.89 0.11 27.22 0.04 0.99 0.73
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Average
1.80 0.38 201.53 0.30 2.09 0.46
Discussion and Analysis
The summer 2020 drilling exploration program was undertaken in the midst of logistical challenges during
a pandemic, and we are happy to say that it was extremely successful, although limited in nature . Our
drilling was focused in an area south of True Fissure Creek where our company is positioning two bridges
that will be used to initiate drilling on the Ridge Target envisioned for the summer of 2021. Road
construction was completed over the Ridge Targets and is ready to be used to conduct deep drilling in this
area. Taranis is currently preparing the engineering permitting submissions for the foundations of the
bridges. Drilling in 2020 was confined to an area of the deposit that was considered a high -priority for
Resource modeling and has yielded valuable information that will be presented in an upcoming news
release.
Qualified Person and Quality Control
Exploration activities at Thor were overseen by John Gardiner (P. Geol.) who is a Qualified Person under
the meaning of Canadian National Instrument 43 -101. Drill core is logged and sawed onsite, and one-half
is retained for reference and further analytical work including specific grav ity determinations. The
remaining half core is delivered by Taranis via courier to Bureau Veritas Commodities Canada Ltd.
(“Bureau Veritas”) in Vancouver, British Columbia. Bureau Veritas is an ISO 9001 certified analytical
laboratory. Taranis inserts standards every 10th sample for quality control in addition to the stringent
internal checks completed at Bureau Veritas . Samples are dried, crushed, split and pulverized at the
Vancouver location, and analyzed for silver, copper, lead, zinc and related trace elements done by modified
aqua regia digestion with ICP finish. Gold is analyzed using a 30-gram fire assay with ICP finish.
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 73,594,500 shares issued and outstanding (84,973,266 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
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED
IN THE POLICIES OF THE TSX VEN TURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS NEWS RELEASE.
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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 di ffer
materially from expected results.