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TRO.V ·

Taranis Receives Environmental Management Act Permit for 10,000-tonne Bulk Sample, Initiating Engineering Work

Permits & Approvals Metallurgy & Processing

FOR IMMEDIATE RELEASE

Taranis Resources Inc.

681 Conifer Lane

Estes Park, Colorado

80517

www.taranisresources.com

Taranis Receives Environmental Management Act Permit for 10,000-tonne Bulk

Sample, Initiating Engineering Work

Estes Park, Colorado, August 1 6, 2021 – Taranis Resources Inc. (“Taranis) [TSX.V: TRO,

OTCQB: TNREF] is delighted to provide an other update on its 100% -owned Thor silver, gold,

zinc, lead, and copper deposit located near Trout Lake, in southeastern British Columbia.

The British Columbia Ministry of Environment and Climate Change Strategy has provided Taranis

with an Environmental Management Act (“EMA”) Permit for the upcoming 10,000 tonne bulk

sampling activities. The “EMA” permit authorizes Taranis’ planned environmental operating

parameters for the bulk sample, as well as discharges of treated process water from onsite dense

media separation (“DMS”) activities to True Fissure Creek.

Taranis’ bulk sample will remove surface mineral stockpiles th at contribute to degradation of

surface water quality in True Fissure Creek . Water discharged from the bulk sampling activities

will exceed existing water quality in True Fissure Creek. Taranis is confident that its bulk sample

and all subsequent use of on -site DMS processing will produce highly enriched concentrate

material while also reducing the environmental impacts created by historical mining activities at

Thor. The pre-concentrate will be further processed at an existing, permitted mill facility.

Issuance of the “EMA” permit concludes the permitting phase for the bulk sample.

John Gardiner, President and CEO states, “With both the Mining Permit and “EMA” in hand, we

can now chart the path forward to planning and undertaking this very important exploration

endeavor. Taranis will complete a geotechnical drilling program in the fall of 2021 that will assess

the stability of the coarse reject storage facility.”

Qualified Person

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.

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 78,328,424 shares issued and outstand ing (88,907,190 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

[email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS

DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) 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.