TRO.V · 2026-01-20 12:00:00

Taranis Expands Silver Cup Mining District Holdings to Over 6,000 Ha. in One of British Columbia’s Oldest Silver and Gold Mining Districts

Corporate Updates

FOR IMMEDIATE RELEASE

Taranis Resources Inc.

681 Conifer Lane

Estes Park, Colorado

80517

www.taranisresources.com

Taranis Expands Silver Cup Mining District Holdings to Over 6,000 Ha. in One of British

Columbia’s Oldest Silver and Gold Mining Districts

Estes Park, Colorado, January 20, 2026 – Taranis Resources Inc. (“Taranis” or the “Company”)

[TSX.V: TRO, OTCQB: TNREF] is pleased to announce a major expansion of its flagship project in the

historic Silver Cup Mining District located in southeast British Columbia. With the acquisition of new

Mineral Tenures south and east of the “Thor” silver, gold, base metals, and critical minerals deposit,

Taranis now controls upwards of 6,000 hectares in one of British Columbia’s premier past producing

silver districts. This expansion unites the five historical, past-producing mines of “Thor” into a continuous

mineralized body and has now added at least five more historic mines, including four past producers,

under Taranis’ stewardship.

Taranis’ Core Exploration Philosophy

In British Columbia’s shifting legal landscape where the meaning and legitimacy of mineral ownership is

now actively up for debate, Taranis’ commitment to productive stewardship, labour, and value creation

offers a compelling model for responsible and equitable land use. In today’s rapidly evolving theatre of

mineral exploration, it is important to define Management’s perspective on not just technical,

management and financial matters, but also on land use, and the many interactions with government that

are required to conduct meaningful exploration in British Columbia.

The Silver Cup District, known since the 1890’s for its high-grade silver and gold, is once again poised

for resurgence. Taranis’ systematic exploration and diamond drilling at the Thor Project have established

a robust Mineral Resource, with recent drilling in 2025 identifying the Borr Zone - interpreted as the

down-dip extension of the main deposit at Thor. The initial drill hole in this new zone intersected 5.25

meters of 26.2 g/t silver, 0.163 g/t gold, and 3.55% combined lead and zinc, underscoring exploration

potential outside of known mineral deposits. (see Taranis News Release, October 27, 2025).

Taranis is now allocating more resources to its newly acquired clusters of historic mines, each with

similar historical underground workings, and the potential to host additional Mineral Resources. These

areas, untouched by modern exploration for a century, are strategic areas of growth for Taranis to generate

value for its shareholders and for the broader community as formerly underutilized and idle lands are

worked once more.

Taranis’ Commitment to Productive Stewardship

Taranis holds Mineral Tenures solely to discover and define new Mineral Resources, not to extract rent,

displace others, or speculate on future metal price increases. Management and our shareholders

understand that while mining is by its nature an extractive activity, it is necessary for today’s standard of

living. Exploration and mining can be done responsibly. For two decades, Taranis has focused all of our

available capital on exploration and resource growth, seeking objective facts about the Silver Cup

district’s mineral endowment that could eventually lead to developing a mine. We have successfully

permitted a 10,000 tonne Bulk Sample that will help better define the quality of the Mineral Resource at

Thor, and better define the economics of commercial development of the expanding Mineral Resource.

The Value of Labour and Stewardship in Property Rights

Taranis’ approach to exploration and development is grounded in the principle that property rights of any

kind should only be earned and kept through labour, investment, and responsible stewardship. By

transforming idle ground into productive assets, Taranis creates tangible value for shareholders and the

wider community. The company’s pioneering work in the Silver Cup District - being the first to drill,

explore, and develop these lands in almost 100 years - embodies the idea that ownership is not just a

matter of legal title, but of active engagement and improvement.

Theories of property rights based on labour and improvement have been both foundational and

controversial. Regardless, many of these concepts have historically been entrenched in the Mineral

Tenure system in British Columbia, including the idea that registration of physical work on Mineral

tenures should be available in lieu of payment to maintain mining claims. While some critiques highlight

the risk of justifying dispossession or exploitation, Taranis believes that legitimate ownership arises from

productive stewardship and the creation of value through work. We affirm that all people deserve the

fruits of their labour, and are skeptical to claims of property based solely on first possession or inherited

privilege - principles that can disadvantage communities, those that seek to grow the economy, and which

overlook or actively undermine contributions of those who develop and work on the land.

In the current climate of shifting property paradigms in British Columbia, Taranis’ model - rooted in

active labour, stewardship, community benefit and participation—stands as a practical and ethical

framework for resource development.

Administrative and Reconciliation Challenges to Mineral Exploration

The uncertainties associated with mineral exploration in British Columbia are vast. The historic domains

of geological and financial risk are now overshadowed by regulatory uncertainty, and this has led to

dramatic drops in exploration investment in the province in the past six years. As an example, Taranis

acquired additional claims to the south and east of the new mine clusters on July 1, 2025. These Mineral

Tenures were sent out for First Nations Consultation on August 28, 2025, under the newly created

Mineral Claims Consultation Framework (“MCCF”). The Ministry of Critical Minerals indicated that

Mineral Tenure consultations should last 90–120 days. However, as of 120+ days, Taranis has not

received any comments as outlined under the MCCF. On December 26, 2025, the company contacted the

Chief Gold Commissioner’s Office for an explanation, but no response has been received from any level

of government.

Taranis recognizes the importance of reconciliation with First Nations and supports British Columbia’s

efforts to address the complicated issues involved. At the same time, the company has a duty to its

shareholders and the business community to disclose when critical regulatory benchmarks are missed. The

lack of timely administrative clarity threatens to undermine both reconciliation and economic progress in

the province, and Taranis calls for transparent, predictable processes that honour tradition while enabling

responsible mineral resource development.

Brownfield Exploration – Integrating Modern Exploration Science with History

The Silver Cup Mining District is one of British Columbia’s oldest silver mining areas. Historic mines

such as Silver Cup, True Fissure, Great Northern and Blue Bell (Thor), Meridian/Eva, Spider, Triune,

Nettie L, have operated in the district producing primarily silver. The lack of access and transportation in

the area and the rugged terrain still makes exploration of the area extremely challenging. The many past

producing mines are surrounded by areas of overburden and rockslide cover making exploration

challenging – but at the same time offering exploration opportunities to make substantive virgin

discoveries. Exploration diamond drilling technology did not even exist when most of these mines were

developed. In the Company’s Management opinion, integrating modern exploration methods with the

certainty of historical information, provides a robust base to enable discovery.

2025 Ajax Mine Dump Sampling

A new Mineral Tenure acquired during a prior expansion of the Thor Property (See Taranis News Release

dated 01/20/2025) serves to demonstrate the exploration potential outside of the Thor deposit. The Ajax

Mine was accessed by helicopter in the fall of 2025 and cursory evaluation showed that it has remained

idle and unworked since shortly after World War II. Historic reports throughout the Silver Cup district

often ignored gold content, focusing on silver and avoiding zinc due to a price penalty at the smelter for

zinc-heavy ores. Taranis sampled dump material from two adits and found anomalous gold content in all

samples. Silver and base metals were not analyzed, but strong tetrahedrite, chalcopyrite, and sphalerite

mineralization was observed. In the table below, we have outlined some of the gold values that are found

in the previously mined material, and the reader is reminded that grab samples are selective and not

representative of average grade or true metal content.

2025 Ajax Mine Dump Sampling Table

Sample Number Au (g/t) Grab Sample Description Location (UTM Zone 11N, WGS84)

379751 1.14 Massive pyrite heavily oxidized on outside

(hematite)