Taranis Resources Inc. Closes Private Placement, Receives Extension to Active Permit at Thor
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
Taranis Resources Inc. Closes Private Placement, Receives Extension to Active Permit at Thor
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
Estes Park, Colorado, July 24, 2023 – Taranis Resources Inc. ( “Taranis” or the “Company” ) [TSX.V:
TRO, OTCQB: TNREF] announces the closing of the private placement announced on June 8, 2023. The
private placement consisted of the sale of 7,600,000 units at a price of $0.11 per unit, for gross proceeds of
$836,000, each unit consisting of one common share and one share purchase warrant, with each warrant
entitling the holder to purchase one additional common share at a price of $0.15 until July 24, 2026.
The proceeds from this private placement will be used for general working capital purposes. The Company
paid a 500,000 share finder’s fee to Twin Oaks Equity LLC, of Willis, Texas in connection with the private
placement.
All securities issued pursuant to the private placement, including any shares that may be issued pursuant to
the exercise of the share purchase warrants and the shares issued in payment of the finder’s fee, are subject
to a hold period in Canada until November 25, 2023.
Additionally, the Company has received confirmation from the B.C. Ministry of Energy, Mines, and Low
Carbon Innovation (“EMLI”) that the expiration date of the currently active permit to take a 10,000 -tonne
bulk sample of material from the Thor Mineral Resource has been extended. The new expiry date of the
bulk sample permit is August 21, 2028. The permit extension is necessary to offset a delay introduced via
the still-ongoing review of flow-through tax credit eligibility for the project by Canada Revenue Agency.
Taranis is still awaiting a decision on its Notice of Work permit submitted in August of 2022. This NOW
was the subject of a detailed News Release dated May 31, 2023. In a joint announcement with the
Association for Mineral Exploration British Columbia on August 15, 2022, EMLI committed to
improvements in processing of such applications. Yet despite th ese promises, Taranis’ permit decision
remains outstanding.
Qualified Person
Exploration activities at the Thor project are overseen by John Gardiner (P. Geo.), who is a Qualified Person
under the meaning of Canadian National Instrument 43-101. Mr. Gardiner is responsible for, and approves
of, the content in this News Release. John Gardiner is a principal of John J. Gardiner & Associates, LLC
which operates in British Columbia under Firm Permit Number 1002256.
About Taranis Resources Inc.
For additional information on Taranis or its 100% -owned Thor project in British Columbia, visit
www.taranisresources.com
2
Taranis currently has 94,037,104 shares is sued and outstanding ( 108,712,104 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
The securities referred to in this news release have not been, nor will they be, registered under the United States Securitie s Act
of 1933, as amended (the “U.S. Securities Act ”) or any state securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemptio n
from such registration is available. This news release does not constitute an offer of securities for sale, nor a solicitation for
offers to buy any securities . Any public offering of securities in the United States must be made by means of a prospectus
containing detailed information about the company and management, as well as financial statements.
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 di ffer
materially from expected results.