Taranis Samples up to 6.7 g/t Gold in Gossanous Seeps Underneath Ferguson Rockslide, 2 km Southeast of Southernmost NI 43-101 Mineralization at Thor

The November 25, 2025 news release announces the discovery of a new target area at the Thor property, the "Ferguson Rockslide," located approximately 2 km southeast of the southernmost extent of the current NI 43-101 mineral resource. Geochemical sampling of gossanous seeps (oxidized, iron-rich water) from beneath the rockslide returned high-grade gold values, with samples up to 6.69 g/t Au. The company interprets this as evidence of a potentially large, gold-bearing epithermal deposit concealed beneath the large rockslide, which measures 2.3 km by 0.8 km. This discovery is separate from the recently announced Borr Zone.

This news is materially positive as it introduces a new, large-scale exploration target that significantly expands the potential size of the overall Thor mineralized system. The high-grade surface samples are encouraging and suggest a new mineralized source.

Reviewing the historical news provides critical context. Taranis has spent the last year focused on two main objectives: 1. Deep Drilling: Testing for a large, intrusive source ("I-1", "Z-900/1300") beneath the known near-surface epithermal deposit. This program has yielded geochemically anomalous but not ore-grade results so far (e.g., 53m of 0.452 g/t Au reported Feb 25, 2025), confirming the presence of a large alteration system. 2. Near-Surface Expansion: Following up on other targets, such as the high-grade boulders at the Horton area (west of the deposit) and the completion of a five-hole, 2,505m drill program in 2025 (announced Oct 20, 2025).

The first result from the 2025 drilling was the discovery of the Borr zone, a "virgin discovery" 1.4 km southeast of the Thor deposit (Oct 27, 2025), for which assays are still pending.

The latest news on the Ferguson Rockslide is not a drill result, but a surface geochemical discovery. While early stage, its significance lies in its location and scale. It is another potential mineralized center, located 2 km away from the main deposit, suggesting the district-scale potential could be much larger than currently defined. This aligns with the company's thesis of finding much larger deposits at Thor.

However, as a risk-averse analyst, it's crucial to note that surface samples are not drill intercepts. While the grades are good, there is no guarantee they will translate into a coherent, economic orebody at depth. This discovery adds another high-potential, high-risk target to the portfolio. It is a positive step-out discovery but requires significant follow-up drilling to prove its value. The market may react positively, but the company's precarious financial position will temper any sustained rally until a discovery is confirmed by drilling and the company's treasury is secured.

Taranis Resources Inc. is a junior exploration company focused on its 100%-owned Thor property in the Revelstoke Mining District of southeastern British Columbia. The flagship project is a polymetallic (silver, gold, zinc, lead, copper) deposit. The company has defined a near-surface epithermal mineral resource (NI 43-101 estimate mentioned as of April 11, 2024, but not detailed in the provided documents). The current exploration strategy is focused on expanding this resource and, more importantly, discovering a theorized large, underlying intrusive body that could be the source of the high-grade surface mineralization. The property appears to be royalty-free as no royalties are mentioned in the financial statements.