Taranis Engages Novus Engineering to Complete Engineering Work for Bulk Sample at Thor
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
Taranis Engages Novus Engineering to Complete Engineering Work for Bulk Sample at Thor
Estes Park, Colorado, December 3, 2024 – Taranis Resources Inc. (“Taranis” or the “Company”) [TSX.V:
TRO, OTCQB: TNREF] is providing an update related to its 100%-owned Thor Ag/Au/Zn/Pb/Cu project
located northeast of Trout Lake, British Columbia. The company has an outstanding Notice of Work permit
to process 10,000 tonnes of minerals from the project in a Bulk Sample intended to accurize grade, crushing,
and separation data.
Thor 10,000t Bulk Sample
Taranis has engaged Novus Engineering Inc. of Vancouver, British Columbia to provide engineering and
reclamation planning support for the preparation of final engineering and construction plans for the 10,000t
Bulk Sample at Thor. Both Tarani s and Novus will complete the final engineering studies prior to
construction of the facility at Thor. A brief history of the Thor Bulk Sample is outlined below:
On July 26, 2021, the British Columbia Ministry of Energy, Mines, and Low-Carbon Innovation (“EMLI”)
provided Taranis with a final Mines Act Permit, approving the 10,000 t Bulk Sample plan originally
submitted by Taranis in 2018. The permit includes subsequent modifications and permit conditions agreed
upon throughout negotiation between the Mine Development Review Committee, Taranis and its
consultants, and various other stakeholders.
On July 24, 2023, the Company received confirmation from EMLI that the permit expiration date was
extended by two years . The new expiry date of the Bulk Sample permit is August 21, 2028. The permit
extension was necessary to offset a delay introduced via review of flow-through tax credit eligibility for the
project by the Canada Revenue Agency (“CRA”).
On January 25, 2024, the CRA reversed a 2021 ruling th at disallowed the use of Canadian Exploration
Expenses (“CEE”) treatment for permitting expenditures incurred in 2017 and 2018 related to the Bulk
Sample. The ruling was made in response to Taranis’ “Request for Loss Determination for the taxation
years ended December 31, 2017, and December 31, 2018” which it filed on February 1, 2022.
Comment
John Gardiner, President and CEO of Taranis remarks “Having completed all of the requisite work to forge
ahead with our Bulk Sample, and also having completed an update of the near-surface Mineral Resource at
Thor, we are now seeking to gain insight into the Quality of the Mineral Resource at Thor. The purpose of
Bulk Sampling at Thor is to determine the physical, chemical and mechanical characteristics of Mineral
Resource, including the effective grade (dilution), to perform mineral tests and to determine whether gravity
separation allows minimum quality specifications. These are all characteristics that are required in order to
complete a meaningful economic analysis of the Thor deposit. Bulk Sampling will continue in parallel with
drilling at Thor to further increase the size of the Mineral Resource”.
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About Taranis and Thor
Taranis Resources is a Canadian mineral exploration company . The Thor Project is in southeast British
Columbia. Taranis has completed upwards of 250 drill holes , linking all previously known mines into a
single, near-surface epithermal deposit that has been recently updated into an NI 43-101 Mineral Resource
Estimate (see Taranis News Release dated April 11, 2024). In the summer of 2024, Taranis initiated deep
drilling aimed at finding the source of th e 2 km long epithermal deposit. This exploration uses modern
geological models and uses state-of-the-art exploration tools including airborne magnetotellurics, magnetics
and geochemistry. The Company’s approach is that many of the historic mines in the area are underlain by
comparatively large mineral deposits that do not outcrop at surface, and have the potential to become much
larger deposits that can be mined using modern mining methods.
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 a principal of John J. Gardiner &
Associates, LLC which operates in British Columbia under Firm Permit Number 1002256. Mr. Gardiner
has reviewed and approved the comments contained within this News Release.
For additional information on Taranis or its 100% -owned Thor project in British Columbia, visit
www.taranisresources.com
Taranis currently ha s 100,082,187 shares issued and outstanding ( 113,827,227 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
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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.