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TRO.V ·

Taranis Resources Inc. Announces Closing of Final Portion of Debt Settlement

Share Capital & Compensation

FOR IMMEDIATE RELEASE

Taranis Resources Inc.

681 Conifer Lane

Estes Park, Colorado

80517

www.taranisresources.com

TARANIS RESOURCES INC. ANNOUNCES CLOSING OF FINAL PORTION OF

DEBT SETTLEMENT

Estes Park, Colorado, August 14, 2023 – Taranis Resources Inc. ( “Taranis”) [TSX.V: TRO ]

announces that it has closed the final portion of the debt settlement originally announced on

December 5, 2022 as a result of having received disinterested shareholder approv al for the

closing of this final portion at its Annual General and Special Meeting held on August 1, 2023.

The closing consisted of the issuance of 1,049,923 common shares at a deemed price of $0.17

per share to settle outstanding indebtedness of $178,487 – these shares are subject to a hold

period in Canada until December 11, 2023.

About Taranis Resources Inc.

For additional information on Taranis or its 100% -owned Thor project in southeastern British

Columbia, visit our website at www.taranisresources.com.

Taranis currently has 94,587,027 shares issued and outstanding ( 109,262,027 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 manageme nt

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.