Taranis trenches 0.94 m of 5.24 g/t Au, 109 g/t Ag

2008-12-19 12:03 ET - News Release

Mr. John Gardiner reports

TARANIS EXPOSES 100 M OF SOUTH END OF GREAT NORTHERN ZONE, AND REPORTS CHANNEL SAMPLE RESULTS UP TO 5.24 G/T AU AND 1,067 G/T AG AT THOR PROJECT, BRITISH COLUMBIA

Taranis Resources Inc. has received analytical results from its 2008 summer exploration program. The following results are related to a channel sampling program that exposed less than 20 per cent of the south end of the Great Northern zone (GNZ) at surface (99 m of a total of 600 m). The GNZ is one of four zones that were explored in the summer of 2008.

General

A systematic trenching program at the south end of the GNZ has exposed continuous high-grade silver and gold mineralization in outcrop within the combined metals unit (CMU). The CMU was not able to be followed to the north to connect up with the Great Northern workings owing to thick colluvium (in excess of three m). It appears to thin to the south of Section 499 metres south.

Great Northern zone surface trenching

Prior indications of a gold-rich zone were known from the Switchback zone where a Columbia metals channel sample assayed 34.48 g/t Au and 508.89 g/t Ag over 1.50 metres, from an unknown exact location Prospecting along a drill road led to the discovery of boulders of massive sulphide in the summer of 2008, and a backhoe was used to excavate shallow colluvium uncovering the target for a strike length of 99 meters. A total of 30 channel samples were completed using a diamond saw, and the trench was photographed and mapped.

The intercepts below are tabulated from north to south over the trench length, and the section number can be used to correlate the surface samples with drill holes reported in previous news releases.

Section No.  Channel    From      To   Thickness      Au      Ag     Cu       Pb      Zn
                          (m)     (m)         (m)   (g/t)   (g/t)    (%)      (%)     (%)

405 m South     T-24    0.00    1.62        1.62    0.67     293   0.46    10.10    2.39
408 m South     T-23    0.94    1.86        0.92    1.10     556   0.41    13.73    5.03
410 m South     T-22    0.00    1.77        1.77    0.50     229   0.36     3.67    3.22
414 m South     T-21    0.55    1.71        1.16    0.08      36   0.04     3.23    0.19
418 m South     T-20    0.46    1.31        0.85    2.06     581   0.20    23.61    2.48
421 m South     T-19    0.00    2.07        2.07    0.33     818   0.20    23.90    0.90

From 421 metres south to 443 metres south, the drill road obscures the trench.

Section No.  Channel    From      To   Thickness      Au      Ag     Cu       Pb      Zn
                          (m)     (m)         (m)   (g/t)   (g/t)    (%)      (%)     (%)

443 m South     T-18    0.61    1.49        0.88    0.97      44   0.01     0.29    0.09
445 m South     T-17    1.22    1.83        0.61    2.12      47   0.01     0.27    0.16
448 m South     T-16    0.61    1.13        0.52    0.71      33   0.00     1.13    0.08
450 m South     T-15    0.34    0.76        0.42    2.00      39   0.01     0.53    0.05
453 m South     T-14    1.04    1.52        0.48    0.52       6   0.01     0.08    0.15
456 m South     T-13    1.10    2.07        0.97    0.88     655   0.10     8.67    0.15
458 m South     T-12    No significant values, zone faulted out under trench floor
460 m South     T-11    0.43    1.37        0.94    2.42     321   0.05     7.26    2.06
463 m South     T-10    0.70    1.30         0.6    1.21     434   0.04    14.16    0.02
465 m South      T-9    No significant values, zone under the trench floor
468 m South      T-8    No significant values, zone under the trench floor
470 m South      T-7    0.00    0.34        0.34    0.11     149   0.10     1.06    0.13
472 m South      T-6    1.34    1.52        0.18    3.36   1,067   0.37    12.52    1.37
474 m South      T-5    0.64    0.82        0.18    0.73     444   0.05     7.13    0.52
475 m South      T-4    0.91    1.68        0.77    1.80     395   0.10    10.00    0.20
478 m South      T-3    0.00    1.34        1.34    2.11     314   0.11     7.95    0.33
479 m South      T-2    0.61    1.55        0.94    5.24     109   0.04     0.54    0.25
480 m South      T-1    0.61    1.77        1.16    2.53     497   0.04    14.94    0.13

From 480 metres south to 493 metres south, the drill road obscures the trench.

Section No.  Channel    From      To   Thickness      Au      Ag     Cu       Pb      Zn
                          (m)     (m)         (m)   (g/t)   (g/t)    (%)      (%)     (%)

493 m South     T-30    0.37    1.01        0.64    0.20     240   0.07     1.13    0.27
496 m South     T-29    0.79    1.19        0.40    1.04      99   0.05     0.06    7.94
498 m South     T-28    0.52    0.94        0.42    0.66      73   0.01     1.96    1.03
499 m South     T-27    0.76    1.28        0.52    0.45      34   0.02     0.09    0.07
502 m South     T-26    0.00    0.88        0.88    0.20       4   0.00     0.02    0.03
504 m South     T-25    0.67    1.49        0.82    0.48       6   0.00     0.01    0.02

Quality control and analytical procedures

Analytical work for the Thor project was completed by Acme Analytical Laboratories Limited of Vancouver, Canada, that is accredited to BS EN ISO 9001:2000. In addition to the numerous internal quality control checks undertaken within Acme, Taranis also submits a series of external standard samples to ensure accurate analytical reporting, and also uses external laboratories (ALS Chemex) to verify the integrity of sample results. Channel samples are collected normal to the strike and dip of the zone using a gas-powered diamond saw. Exploration activities on the Thor property were overseen by John Gardiner, PGeo, and Jim Helgeson, PGeo, both qualified persons under the meaning of Canadian National Instrument 43-101.

We seek Safe Harbor.