Estes Park, Colorado, August 16, 2021 – Taranis Resources Inc. (“Taranis) [TSX.V: TRO, OTCQB: TNREF] is delighted to provide another update on its 100%-owned Thor silver, gold, zinc, lead, and copper deposit located near Trout Lake, in southeastern British Columbia.

The British Columbia Ministry of Environment and Climate Change Strategy has provided Taranis with an Environmental Management Act (“EMA”) Permit for the upcoming 10,000 tonne bulk sampling activities. The “EMA” permit authorizes Taranis’ planned environmental operating parameters for the bulk sample, as well as discharges of treated process water from onsite dense media separation (“DMS”) activities to True Fissure Creek.

Taranis’ bulk sample will remove surface mineral stockpiles that contribute to degradation of surface water quality in True Fissure Creek. Water discharged from the bulk sampling activities will exceed existing water quality in True Fissure Creek. Taranis is confident that its bulk sample and all subsequent use of on-site DMS processing will produce highly enriched concentrate material while also reducing the environmental impacts created by historical mining activities at Thor. The pre-concentrate will be further processed at an existing, permitted mill facility.

Issuance of the “EMA” permit concludes the permitting phase for the bulk sample.

John Gardiner, President and CEO states, “With both the Mining Permit and “EMA” in hand, we can now chart the path forward to planning and undertaking this very important exploration endeavor. Taranis will complete a geotechnical drilling program in the fall of 2021 that will assess the stability of the coarse reject storage facility.”

Qualified Person

Qualified Person and Quality Control 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.

For additional information on Taranis or its 100%-owned Thor project in British Columbia, visit www.taranisresources.com

Taranis currently has 78,328,424 shares issued and outstanding (88,907,190 shares on a fully-diluted basis).