Taranis Resources Inc. Updates Exploration Activity on its Thor Project
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
Taranis Resources Inc. Updates Exploration Activity on its Thor Project
Estes Park, Colorado, July 31, 2023 – Taranis Resources Inc. ( “Taranis” or the “Company” ) [TSX.V:
TRO, OTCQB: TNREF] is pleased to provide an update on exploration at its Thor Project.
Taranis has commenced drilling on the Thunder Zone that is the newly discovered northwest extension of
the Thor epithermal deposit that occurs under a rockslide on the south side of Thor’s Ridge. This area is
difficult to explore owing to the steep topography in the area. There are at least two mineralized
epithermal vein horizons that are currently being defined.
NIR/SWIR spectrographic studies of two drill holes in this area in 2022 demonstrated the existence of
alteration minerals not previously identified at Thor. Some of the minerals identified in the drill holes
include tourmaline, plagioclase, jadeite, fluorite, scapolite and montmorillonite. Airborne geophysical
surveys indicate the presence of a unique pipe-like conductive body below the Thunder Zone called the
“North Tusk” concealed 6 00 m below the surface . While Taranis cannot explore this feature with its
current exploration permit, this feature is a priority for exploration. Taranis has a NoW permit application
for this drilling that was submitted in August of 2022 for which a permit decision has not been ren dered.
(See Taranis News Release dated May31, 2023).
John Gardiner, President and CEO states “m any of the alteration minerals that we are seeing in the high -
grade epithermal Thunder Zone commonly have connections to intrusive rocks which we believe under ly
the Thor epithermal deposit . Taranis is currently undertaking laboratory studies to confirm the 2022
NIR/SWIR mineral identification results using X -Ray Diffraction (“XRD”). As the Thunder Zone is a
concealed target that can only be drill tested, we are seeking to gain every exploration trick we can
implement to fully understand the geology of this important area”.
Taranis also announces that it will not be proceeding to pay the 500,000 share finder’s fee in respect of its
recently-completed private placement as disclosed in its July 24, 2023 news release, as the proposed
finder is not registered in the United States as a broker/dealer and as such is not en titled to receive
compensation in respect of financings completed in the United States.
Qualified Person
Exploration activities at the Thor project are overseen by John Gardiner (P. Geo.), who i s 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 93,537,104 shares is sued and outstanding ( 108,212,104 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
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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.