Taranis increases Thor project to 6,000 hectares

Executive Summary

• Taranis Resources Inc. has expanded its Silver Cup mining district holdings to over 6,000 hectares in southeastern British Columbia, acquiring new mineral tenures south and east of the Thor deposit.
• The company reports significant exploration results from the newly identified "Borr zone," interpreting it as a downdip extension of the main Thor deposit, with initial drilling intersecting 5.25 meters of 26.2 g/t Ag, 0.163 g/t Au, and 3.55% combined Pb+Zn.
• Taranis is highlighting regulatory challenges in British Columbia, specifically noting a lack of response from the Ministry of Critical Minerals regarding First Nations consultations for tenures acquired in July 2025, which have exceeded the expected 90-120 day consultation window.

Key Details

• Land Expansion: Taranis now controls upwards of 6,000 hectares in the Silver Cup district, uniting five historical past-producing mines of Thor into a continuous body and adding at least five more historic mines (including four past producers).
• Borr Zone Drilling Results:
  • Initial drill hole in the new Borr zone (interpreted as downdip extension of Thor) intersected:
    • 5.25 meters of 26.2 grams per tonne silver (g/t Ag)
    • 0.163 grams per tonne gold (g/t Au)
    • 3.55% combined lead and zinc (Pb+Zn)
• Ajax Mine Sampling:
  • Dump material sampled from two adits at the Ajax mine (idle since WWII) showed anomalous gold content.
  • Strong tetrahedrite, chalcopyrite, and sphalerite mineralization observed.
  • Silver and base metals were not analyzed; gold values are from selective grab samples and not representative of average grade.
• Regulatory/Administrative Issues:
  • Tenures acquired July 1, 2025, were sent for First Nations consultation on Aug. 28, 2025.
  • Ministry of Critical Minerals indicated consultations should last 90-120 days.
  • As of Dec. 26, 2025, no comments had been received, and the company received no response from the Chief Gold Commissioner's Office after contacting them.
• Permitting: Taranis has successfully permitted a 10,000-tonne bulk sample to help define resource quality and economics.
• Share Count: 102,421,487 shares issued and outstanding (119,972,613 on a fully diluted basis).

Notable Quotes

• "Taranis holds mineral tenures solely to discover and define new mineral resources, not to extract rent, displace others or speculate on future metal price increases."
• "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."
• "An individual company's perspective on these issues is arguably more important than reporting on exploration programs, because, without a path forward to develop those mineral lands, exploration results are meaningless and work programs in general are stalled by a regulatory system that is paralyzed by competing interests."