Estes Park, Colorado, March 2, 2026 – Taranis Resources Inc. (“Taranis” or the “Company”) [TSX.V: TRO, OTCQB: TNREF] is providing an update on activities at Thor, the company’s 100%-owned precious and critical minerals polymetallic deposit in southeastern British Columbia. Taranis has recently purchased additional claims adjoining the original Thor project area, and has filed for a permit to drill several promising targets in this new area, called “Freyja”. Past-producing silver, gold, lead and zinc mines operated there around the turn of the 20th century, providing good evidence that additional mineral resources can be found at Freyja in conjunction with the known mineral resource at Thor.
To the east of Freyja, Taranis has staked a large new area of mineral tenures. These tenures are also highly prospective for mineralization consistent with that found at Thor and Freyja, but the process for claim-staking was changed by the Government of British Columbia in March of 2025, and key timeframes for issuance of the new claims have already been missed.
Mineral Tenures Staked July 1st, 2025
Taranis staked additional claims to the south and east of Freyja on July 1, 2025. The Mineral Tenures were sent out for First Nations Consultation on August 28, 2025, under the newly created Mineral Claims Consultation Framework (“MCCF”). The Ministry of Critical Minerals has indicated that Mineral Tenure consultations should last 90–120 days. However, as of 186 days, Taranis has not received any comments under the MCCF.
On December 26, 2025, the company contacted the Chief Gold Commissioner’s Office for an explanation of the delays, but no response has been received. Many in the mineral exploration industry have expressed dismay that the new process is already failing to be upheld to the standards promised to industry. As mineral tenures are only valid for one year after staking, it is plausible that sufficiently slow or stalled consultation processes can take more than one year to be resolved, and that claims may even revert before consultation is complete. Indeed, Taranis’ claims have been under review for more than 51% of the year. This is completely unacceptable, as permits cannot be issued and work completed to satisfy the requirement that assessment work is filed in lieu of cash payment to hold the tenures, within this impossibly short timeframe.
Notice of Work Permit Application (“Freyja”)
Taranis submitted a Notice of Work (“NoW”) permit application to access the Freyja area east of Ferguson Creek. Front Counter B.C. acknowledged receipt of this document on February 3, 2026. The NoW application outlines access plans to explore this newly added portion of the property acquired in January of 2025. Taranis acquired Mineral Tenures that covers the highly prospective Silver Cup Anticline in this area that cover many historic prospects and mines including the Abrahamson, Slash, GYP, Nettie L. and Ajax Mines that have received no exploration in the past half-century.
Timely and predictable permitting is crucial to exploration companies’ ability to delineate Mineral Resources. Taranis recognizes the importance of reconciliation with First Nations and supports British Columbia’s efforts to address the complicated issues involved. At the same time, the company has a duty to its shareholders and the business community to disclose when critical regulatory benchmarks are missed. The lack of timely administrative clarity threatens to undermine both reconciliation and economic progress in the province, and Taranis calls for transparent, predictable processes that honour tradition while enabling responsible mineral resource development.
Exploration activities at Thor were overseen by John Gardiner (P. Geo.), President and CEO of Taranis Resources Inc., and a Qualified Person under Canadian National Instrument 43-101. Mr. Gardiner is the principal of John J. Gardiner & Associates, LLC, operating in British Columbia under Firm Permit Number 1002256. Mr. Gardiner has reviewed and approved the comments contained within this News Release
