Taranis Signs Agreement to Acquire 100% Interest in 1,699 Hectares of Mineral Tenures Adjoining Thor and Update on Closing of Private Placement
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
Taranis Signs Agreement to Acquire 100% Interest in 1,699 Hectares of Mineral Tenures
Adjoining Thor and Update on Closing of Private Placement
Estes Park, Colorado, October 8, 2024 – Taranis Resources Inc. (“Taranis” or the “Company”) [TSX.V:
TRO, OTCQB: TNREF] is providing an update on its Thor project located northeast of Trout Lake, British
Columbia.
Taranis has signed an agreement with an arm’s-length vendor to acquire a 100% interest in 1,637.9 Hectares
(“Ha”) of Mineral Tenures and 61.4 Ha of Placer Tenures (collectively, the “Tenures”) adjoining and
located east of the Thor, subject to the reservation to the vendor of a 1% NSR from commercial production
from the Tenures and a $40,000 cash payment to the vendor upon the transfer of title to the Tenures to
Taranis.
The land package includes 11 Mineral Tenures, and 2 Placer Tenures issued between 2005 and 2016 and
are located over prospective parts of the Silver Cup Mining District including the past-producing Nettie L.
Mine and portions of the Silver Cup Mine area.
Discussion
John Gardiner, President and CEO of Taranis Resources Inc. states , “Taranis already has a sizeable land
position at Thor including 27 contiguous Crown Grant Mining Claims (fee simple) and 3,807 Ha of Mineral
Tenures. The addition of the Tenures being acquired will bring our Mineral Title holdings in the Silver Cup
Mining District to 5,445 Ha. Our approach at Thor has been to gain understanding of the near surface high-
grade epithermal deposits discovered over the past 140 years and seek to expand the targets at depth . The
new Mineral Tenures provide Taranis additional opportunity for the discovery of deep mineral resources”.
Update on Closing of Private Placement
In its October 3, 2024 News Release, Taranis announced the closing of a $200,000 private placement,
consisting of the sale of 666,666 flow -through units (the “FT Units”) at a price of $0.30 per FT Unit.
Insiders of Taranis purchased all of these FT Units, the participation of these insiders having constituted a
related party transaction within the meaning of TSX -V Policy 5.9 and Multilateral Instrument 61 -101 –
“Protection of Minority Security Holders in Special Transactions ” (“MI 61-101”). Taranis has relied on
the exemption from the formal valuation requirement provided under section 5.5(a) of MI 61 -101 on the
basis that the fair market value (as determined under MI 61 -101) of inside r participation in the private
placement did not exceed 25% of Taranis’s market capitalization. (As disclosed in its October 3, 2024 news
release, Taranis advised that it had obtained disinterested shareholder approval for insider participation in
the private placement at its Annual General and Special Meeting held on September 26, 2024 , at which
Meeting Taranis also obtained disinterested shareholder approval for the creation of these insiders and their
principal shareholder as “Control Persons” pursuant to applicable TSX-V policy.)
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About Taranis and Thor
Taranis Resources is a Canadian mineral explor ation company. The Thor Project is in southeast British
Columbia. Taranis has completed upwards of 250 drill holes , linking all previously known mines into a
single, near-surface epithermal deposit that has been recently updated into an NI 43-101 Mineral Resource
Estimate (see Taranis News Release dated April 11, 2024). In the summer of 2024, Taranis initiated deep
drilling aimed at finding the source of the 2km long epithermal deposit. This exploration uses modern
geological models and state-of-the-art exploration tools including airborne magnetotellurics, magnetics and
drill hole alteration geochemistry. The Company’s exploration approach in the Silver Cup Mining District
is that historic mines in the area are potentially underlain by comparatively large mineral deposits that do
not outcrop at surface.
Qualified Person
Exploration activities at Thor were overseen by John Gardiner (P. Geo.), who is a Qualified Person under
the meaning of Canadian National Instrument 43-101. John Gardiner is a principal of John J. Gardiner &
Associates, LLC which operates in British Columbia under Firm Permit Number 1002256. Mr. Gardiner
has reviewed and approved the comments contained within this News Release.
For additional information on Taranis or its 100% -owned Thor p roject in British Columbia, visit
www.taranisresources.com
Taranis currently ha s 99,627,581 shares issued and outstanding ( 113,093,135 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
Phone: (303) 716-5922 Cell:
(720) 209-3049
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 ac tual results may differ
materially from expected results.