Taranis Announces New Critical Minerals By-Product Findings at the Thor and Ajax Mines

Taranis Resources Inc. released results from a by-product metal analysis of samples collected from the historic Thor open pit (True Fissure zone) and Ajax Mine adit dumps. The study identified consistent enrichment of epithermal-style precious and critical minerals, including indium, antimony, gallium, cadmium, and rare earth elements.

Thor samples averaged 2.18 g/t Au, 335 g/t Ag, 0.6% Cu, 8.6% Pb, and 22.1% Zn, with by-product metals like indium averaging 18.4 ppm and antimony averaging 1,020 ppm. Ajax samples showed comparable core metals but notably higher indium (94.8 ppm avg) and rare earth elements (neodymium 60.5 ppm avg).

Management interprets the geochemical similarity as evidence of a single enrichment event and a common intrusive source for both deposits. The samples are acknowledged as selective and not representative of average deposit grades, but they strongly support including these by-products in future NI 43-101 Mineral Resource updates. The company has permitted a 10,000-tonne bulk sample to accurately define the concentration, mode, and occurrence of these metals ahead of metallurgical testing.

Taranis Resources Inc. (TRO) released an announcement that serves as a logical follow-up to its July 20, 2026 update, during which the company explicitly stated its focus on re-evaluating the Thor resource for critical minerals. The release does not contain new drill intercepts, resource estimates, or economic studies; instead, the findings consist of geochemical indicators rather than quantified resource blocks.

While the news reinforces the district-scale geological model, it does not immediately alter near-term cash flows, permitting timelines, or capital requirements. Given the selective nature of the samples and the lack of metallurgical recovery data, the market impact is limited to incremental exploration validation. The announcement aligns with management's stated strategy to leverage domestic smelter investments, such as Teck's Trail smelter, to justify polymetallic and critical mineral reporting.

Taranis Resources Inc. is an exploration-stage company focused on the Thor epithermal deposit in the historic Silver Cup Mining District of southeastern British Columbia. The company has expanded its land package to approximately 6,470 hectares, encompassing multiple past-producing silver and gold mines.

The Thor deposit is characterized as a polymetallic epithermal system hosting silver, gold, lead, zinc, and copper. Recent geological modeling suggests the Thor deposit is a fragmented "rafted block" of a much larger system, potentially five times the size of the current resource, with the Borr Zone representing a significant downdip extension. The company is integrating modern geophysics, LIDAR, and geochemical sampling to explore beneath historic rockslides and along newly identified lamprophyre intrusive trends.