Taranis to Expand South End of Thor Deposit at Broadview
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
Taranis to Expand South End of Thor Deposit at Broadview
Estes Park, Colorado, June 6, 2018 – Taranis Resources Inc. (“Taranis” or the “Company ”) [TSX.V:
TRO] is pleased to update activity related to its 100% -owned Thor project in southeastern British
Columbia. There are at least two main areas that will be further explored in 2018, includ ing the southeast
continuation of the main precious -base metal sulphide deposit at Broadview (Notice of Work
1630302201701), and the high -grade SIF zone gold target l ocated north west of the main polymetallic
deposit (Notice of Work 1630302201702). Drilling will commence immediately on the Broadview Mine
area, as will geophysical survey ing on the high -grade SIF target. Drilling of the 1630302201702 (Ridge
Target) can only be undertaken after geophysical surveys are complete on the SIF extension target as this
is expected to provide additional data to position drill holes.
Broadview Mine Area (Notice of Work 1630302201701)
Taranis will initiate drilling in the Broadview area. Broadview represents the south east extension of the
Thor deposit, and is situated under a prominent hill that is known to host rich mineralization . Exploration
and underground development dating to the early 1900’s has been noted at Broadview . A total of 31 drill
sites are permitted; exploration will seek to supplement part of the area outside of the existing NI 43 -101
Resource and add approximately 600 m in strike length to the existing southeast portion of the Thor
deposit. Developing a higher-resolution understanding of the Thor Resource has been an ongoing mandate
of the C ompany to a ccurately develop a sound mine p lan, and to identify mining targets that can be
immediately exploited once the mine goes into full-scale production (Phase III).
SIF Extension Geophysical Survey
Taranis will undertake detailed resistivity/electromagnetic geophysical mapping of the area northwest of
the SIF gold zone and delineate drill targets in gold -bearing siliceous zones related to the top of the Thor
Anticline. The SIF zone plunge s northwest of the main polymetallic deposit, and the survey will enable
Taranis to accurately delineate shallow drill targets that will expand the high -grade gold portion of the
Thor deposit.
Analytical and Metallurgical Work on Gold Pilot Plant (2017)
Taranis has shipped the remaining concentrates from its gold pilot plant to Kingston Process Metallurgy
Inc. where the material will be roasted , and the remaining gold recovered from the concentrate using
conventional smelting.
Joint Environmental Management Act and Mines Act Permit
Taranis is nearing completion of its application to process a 10,000-tonne bulk sample at Thor (Phase II).
The material processed will be largely representative of the main Ag -Au-Pb-Zn-Cu deposit and will
utilize new technolog y to ascertain the economic and process feasibility of producing density media
concentrates onsite. Phase II dense media processing operations will assist in the reclamation of 100 -year
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old mine waste and polymetallic ore dumps. It is expected that Taranis will submit the finalized
application to the British Columbia Ministry of Energy , Mines and Petroleum Resources in late June of
2018, and begin an enhanced baseline water chemistry and sediment sampling program in mid -June 2018
to further establish baseline conditions at Thor.
Offer to Purchase Outstanding Shares of Fortytwo Metals Inc.
Fortytwo Metals holds the past producing MAX molybdenum mine and mill located 8 km from the Thor
property. Taranis believes that the utilization of the MAX mill would represent a potential option to
processing ore from the Thor property and would utilize d ormant mining facilities in the area to create
ongoing value in southeastern British Columbia’s mining sector. As the status of the proposed sale by
MX Gold Corp. (“MX Gold”) of all of the issued and outstanding shares of its subsidiary Fortytwo Metals
Inc. (“Fortytwo Metals”) to an arm’s-length purchaser, as announced by MX Gold in its April 5, 2018 and
May 11, 2018 news releases is not known, Taranis has sent to the CEO of MX Gold an offer to purchase
all of its shares of Fortytwo Metals, containing provisions f or cash payments to MX Gold out of
production from Taranis’s Thor property. To date, Taranis has not received any response to its offer to
purchase; any further information in respect of this matter will be disseminated if and when it becomes
available.
Qualified Person
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.
Taranis is an exploration company focused on the development of its 100% -owned Thor project in
southeast British Columbia . The Company’s mandate is to recognize mineral deposits early in the
exploration cycle that can be developed through intelligent exploration and business alliances. For
additional information on Taranis or its Thor project, please visit our website at
www.taranisresources.com.
Taranis currently has 60,263,067 shares is sued and outstanding ( 71,696,733 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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