Taranis Plans Modern Exploration Programs in Brownfield Silver Cup Mining District
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
Taranis Plans Modern Exploration Programs in Brownfield Silver Cup Mining District
Estes Park, Colorado, January 27, 2026 – Taranis Resources Inc. (“Taranis” or the “Company”)
[TSX.V: TRO, OTCQB: TNREF] is providing an update on planned 2026 exploration activities at Thor.
Taranis’ exploration project is now over 6,000 Ha in size and includes many historic silver mines that
have seen little exploration over the past 100 years. This News Release does not discuss the 10,000-tonne
metallurgical bulk sample that is also planned to commence in 2026. Bulk Sampling activities will be
discussed in upcoming News Releases.
Regional Geology Compilation
Taranis has completed a geological and geophysical compilation of Taranis’ expanded holdings in the
Silver Cup Mining District. This new compilation integrates historical information (geological mapping,
mine and prospect locations, and geophysical surveys) with exploration data from Taranis’ extensive
work defining the Thor deposit. Taranis has found that the Silver Cup Anticline, which is spatially related
to many of the historic mines, is flanked by two large faults between the Broadview and the Sharon Creek
Formations. Several historic mines are located along the northeast side of the Silver Cup anticline,
including the IXL, GYP, Nettie L. and Ajax Mines. The NI 43-101 compliant Thor deposit (now 2.3 km
in strike length) is well understood and lies on the southwest side of the Silver Cup Anticline.
Based on 2025 exploration results (See Taranis News Release dated 11/25/2025) and the 2026
compilation work, it appears possible the southeast extension of the Thor deposit lies underneath the
recently recognized and Lidar-delineated Ferguson rockslide. Even further southeast of the Ferguson
rockslide on the east side of Ferguson Creek, the area of geological interest extends into the historic Slash
and Abrahamson prospects, where high-grade gold and silver values were reported in the early 1900s.
Although much more exploration is required to prove this interpretation, successful exploration in the
areas covered or affected by rockslides could extend the Thor deposit up to 5.3 km. Taranis has
successfully discovered new mineralized zones which occur beneath significant rockslides in the past (See
Taranis News Release dated December 4, 2023). Rockslides were not commonly investigated in detail by
historical mining operations due to technical and cost limitations associated with tunneling in unstable
ground.
Expansion of Airborne Geophysical Survey
Taranis completed an airborne magnetic and magnetotelluric survey over the Thor deposit in 2012. This
survey has now been sufficiently tested with diamond drilling to determine that it is of great value in
understanding the subsurface geology. By contrast, surface exploration techniques are often unsuitable in
terrain that is frequently inaccessible due to steep terrain, or covered by rockslides. At the time Taranis
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flew the original survey, the Company did not own any sizeable land position in the Silver Cup District,
and the survey was restricted to the immediate Thor deposit. The recent land acquisitions now mandate
additional airborne geophysical surveying as a necessity to fully understanding the many silver deposits
associated with the Silver Cup Anticline.
Access to the East Side of Ferguson Creek
Many of Taranis’ “new” historical mines in the area occur on the east side of Ferguson Creek, and access
to this area has been restricted for over 70 years. Taranis is in the final stages of submitting a Notice of
Work to the Ministry of Critical Minerals, seeking to access this area, as well as reactivating a number of
old exploration/mining roads in this area that will enable Taranis to evaluate more areas of the Silver Cup
Anticline. The extensive mining undertaken in this area in the early 1900’s provides a pre-existing road
map for creation of a network of drilling roads to access mines in extremely challenging terrain, while
minimizing surface disturbance.
Continued Drilling of the Borr Zone
One of the important discoveries of 2025 was the existence of a previously unknown part of the Thor
epithermal deposit called the Borr Zone. This discovery was made drilling a deep geophysical anomaly
that discovered a lamprophyre dyke which has intruded and disrupted the Thor epithermal deposit. Based
on the now carefully examined lamprophyre discovery, the Thor deposit is suspected of being cleaved in
half. The regional compilation of historic data indicates that the 2025 discovery dips under the east side of
Great Northern Mountain into Ferguson Creek. 600m due east of the discovery, high-grade zinc was
discovered in outcrop, 45 years ago.
Comments
Brownfield mineral exploration does not have to be done around producing mine sites . Taranis’ Thor
deposit and the accompanying large land position represents a historic high-grade silver mining district that
has been underexplored with modern techniques and technology. Taranis recognized this over two decades
ago when it began to carefully investigate the Thor deposit and subsequently assemble a large land position
in the area. Brownfield exploration is undertaken in historic mining districts and has lower risk because
geological conditions are established; infrastructure is already in place . Taranis has the benefit of having
been able to caref ully use over 120 years of exploration data and geological description of the district.
Rather than having one geologist provide opinions, Taranis has the benefit of having the knowledge of
hundreds of geologists thereby gaining incredible insight. Brownfield projects often have faster returns on
investment compared to greenfield developments , and maximize shareholder value by outlining Mineral
Resources in a focused exploration setting utilizing state-of-the-art exploration methods that often discover
concealed mineral deposits.
Qualified Person
Exploration activities at Thor were overseen by John Gardiner (P. Geo.), President and CEO of Taranis
Resources Inc., and a Qualified Person under Canadian National Instrument 43-101. Mr. Gardiner is the
principal of John J. Gardiner & Associates, LLC, operating in British Columbia under Firm Permit
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Number 1002256. Mr. Gardiner has reviewed and approved the comments contained within this News
Release.
Taranis currently has 102,421,487 shares issued and outstanding (119,972,613 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
Cell: (720) 209-3049
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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.