Taranis Completes 2025 Exploration Activities Targeting Expansion of Thor Mineral Resource

Executive Summary

• Taranis completed a summer 2025 drilling program on the Thor project – 5 holes totaling 2,505 m, including three deep holes (2,273 m) intersecting a magmatic breccia feeder zone.
• In January 2025 the company acquired 1,634 ha of additional mineral tenure adjacent to Thor, covering historic Nettie L. and IXL mine areas with known silver‑gold‑zinc‑lead‑copper production and potential strategic metals.
• Planning and cost estimate for a 10,000‑ton bulk sample at Thor were finalized; the company is seeking Ministry approval and has begun XRF analysis to support future economic studies.

Key Details

• Diamond Drilling: 5 drill holes (2,505 m total); 3 deep holes (2,273 m) and 2 shallow holes (232 m). Intersections include a magmatic breccia “feeder zone” typical of high‑sulfidation epithermal systems. Analytical results pending.
• New Prospects Acquisition: 1,634 ha of mineral tenure added in early Jan 2025; includes historic Nettie L. and IXL mine sites with past production of Ag, Au, Zn, Pb, Cu and potential indium, cadmium, tungsten, antimony. Access gained via helicopter; surface dump sampling performed.
• 10,000‑t Bulk Sample: Planning and cost estimate completed; presentation available on Taranis website. Bulk sample intended to determine metal recoveries before any economic analysis. XRF analyses of source material conducted; confirmatory work at Actlabs underway.
• Additional Exploration Activities: Systematic XRF studies of drill core oxide alteration, continued soil sampling in Horton area (high‑grade boulders identified 2024), LIDAR re‑evaluation revealing large rockslide (~800 m × 2,200 m) potentially obscuring mineralization; seep sampling performed.
• Qualified Person: Exploration overseen by John J. Gardiner (P.Geo.), President & CEO, who reviewed and approved the release.
• Share Count Disclosure: 102,421,487 shares issued and outstanding (119,972,613 on a fully‑diluted basis).

Notable Quotes

• “Taranis believes that it can add substantial value above and beyond the existing NI‑43‑101 Mineral Resource via systematic and state‑of‑the‑art exploration.” – John J. Gardiner, President & CEO.