Taranis Expects Permit Decision on 10,000 tonne Pilot Milling Permit and announces Debt Settlement
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
Taranis Expects Permit Decision on 10,000 tonne Pilot Milling Permit and
announces Debt Settlement
Estes Park, Colorado, May 13, 2021 – Taranis Resources Inc. (“Taranis” or the “Company”)
[TSX.V: TRO, OTCQB: TNREF] is pleased to provide an update on its 100% -owned Thor
precious-base metal deposit located near T rout Lake, British Columbia. The property i ncludes
3,153 Ha of Mineral Tenures, as well as 27 Crown Grant Mining Claims.
Taranis has received a Draft Mine s Act Permit for construction of a facility that would process
10,000 tonnes of material from the Thor Ag -Au-Pb-Zn-Cu deposit . The Company has been
informed that the permit application will be reviewed by the statutory decision -making authority
within British Columbia’s Ministry of Energy, Mines, and Low Carbon Innovation (“EMLI”), and
a decision on issuing the permit will be made shortly.
Since acquisition of the project in 2006, Taranis has completed 2 42 drill holes and 148 channel
samples at Thor, establishing a high-grade mineral resource that occurs near surface, and over a
strike length of 1.5 km. Previous analytical results suggest that in addition to the five main metals
of interest, other strategic metals are found that include antimony, gallium, tin, and indium that
may contribute additional value. The bulk sample will test the existence and quality of both the
major and strategic companion metals.
Taranis is also pleased to announce that because of the B.C. Ombudsperson’s review of the Thor
bulk sample permit application, EMLI has now made public its new policies for Bulk Sampling
and Pilot Milling in British Columbia. Th e EMLI website outlines the procedure and extensive
requirements for undertaking bulk samples and pilot milling . Although this policy was not
available to Taranis during our permit application, Taranis, EMLI and the B.C. Ombudsperson
were instrumental in getting the policy published for the benefit of the exploration community in
British Columbia. Although the bar sets very -high standards for exploration and mining
companies, the policy incorporates measures that assures success for responsible operators and
stakeholders.
Comment
John Gardiner, President and CEO states “Taranis is keen to undertake the bulk sampling and pilot
milling project at Thor, as it will allow our company to collect valuable data to undertake a pre-
feasibility study of developing the Thor deposit. In addition to this activity, we plan on continuing
to grow the deposit with exploration drilling of the permitted Ridge and Intrusive targets. These
are high-impact exploration targets that could add considerable growth to the northwest and under
Thor”.
Debt Settlement
Taranis also announces it has negotiated debt settlement agreements with various credi tors
pursuant to which $95,075.76 of indebtedness is to be satisfied by the issuance of 950,757 common
shares at a deemed price of $0.10 per share, subject to regulatory acceptance.
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 i ssued and outstanding (84,173,266 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
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