Taranis drills 1.8 m of 1,008 g/t Ag, 1.22 g/t Au

TARANIS DRILLS 1,008 G/T AG, 1.22 G/T AU, 0.34% CU, 8.67% PB AND 10.60% ZN OVER 1.80 M IN GREAT NORTHERN ZONE

Taranis Resources Inc. continues to receive analytical results from its 2008 summer drilling program completed at Thor, located in southeastern British Columbia. Drill holes were completed on a sectional basis and were drilled normal to the strike and dip (azimuth west-southwest) of the combined metals unit (CMU) with approximately 40 metres between drill holes.

General

The results include holes completed on the Great Northern zone (GNZ) and Broadview zones on Taranis's 100-per-cent-owned Thor property. Approximately 50 drill holes remain to be reported from the 2008 drilling program at Thor.

The Upper Broadview zone occurs on a prominent ridge top located at the south end of the property that was the focus of considerable exploration activity in the early 1900s. The Upper Broadview zone differs from the other zones at Thor due to its high precious/base metal ratio, and its prominent exposure along a mountaintop that makes it an attractive open-pit target.

Great Northern zone drilling

Systematic drilling continues to expand and delineate the GNZ at Thor where precious and base metal mineralization is confined to a zone that dips moderately to the east-northeast.

Section 120 m south

Drill hole Thor-94 (minus 45 degrees) was drilled to test the north end of the GNZ at depth and intersected a thin massive pyrite horizon.

                             THOR-94

From (m) To      Au        Ag       Cu     Pb (%)  Zn (%)  Thickness
        (m)     (g/t)     (g/t)     (%)                      (m)

81.69   83.37    0.53      84      0.04    0.89    0.18      1.68

Thor-95 (minus 60 degrees) was drilled from the same set-up but this hole was lost due to caving at a depth of 53.95 m prior to intersecting the target.

Section 171 m south

Thor-90 intersected the CMU at the same elevation and 40 m north-northwest of previously reported drill hole Thor-79 that intersected 4.33 m of 2.01 grams per tonne Au, 667.35 g/t Ag, 0.19 per cent Cu, 6.37 per cent Pb and 9.19 per cent Zn (see news release in Stockwatch dated Dec. 11, 2008). This part of the GNZ continues to demonstrate robust tenor, continuity and width.

                         THOR-90

From (m)  To    Au      Ag     Cu     Pb (%)   Zn (%)  Thickness
          (m)  (g/t)  (g/t)    (%)                        (m)

93.98   95.78   1.22   1,008   0.34    8.67   10.60      1.80

Drill hole Thor-96 (minus 70 degrees) was drilled from the same set-up but was abandoned at 58.52 m depth prior to intersecting the CMU due to caving. Drill hole Thor-99 was drilled at an angle of minus 75, 2 degrees from the same set-up and intersected the CMU that is highly enriched in precious metals relative to drill hole Thor-90.

                           THOR-99

From (m)  To     Au      Ag     Cu     Pb (%)   Zn (%)  Thickness
         (m)   (g/t)    (g/t)   (%)                        (m)

78.58   81.05   2.00     108   0.23     0.83    0.40      2.47

Section 230 m south

Drill hole Thor-93 was drilled to test the GNZ down dip of Thor-68 which intersected a substantial thickness (10.86 m) of 0.57 g/t Au, 63.71 g/t Ag, 0.05 per cent Cu, 1.57 per cent Pb and 3.48 per cent Zn (see news release in Stockwatch dated Nov. 17, 2008). Thor-93 intersected quartz-ankerite veining and graphitic fault zones from 143.68 to 153.71 m downhole which only had geochemical levels of precious mineralization, and it is believed that the CMU is tightly folded to the west.

Upper Broadview zone drilling

Taranis continues to receive analytical results from a number of short drill holes that tested the Upper Broadview zone located toward the south end of the property.

Section 984 m south

Drill holes Thor-87 (minus 90 degrees), Thor-88 (minus 70 degrees) and Thor-89 (minus 45 degrees) were all completed from the same set-up. Drill hole Thor-87 intersected the lower Broadview level at a depth of 86.87 to 89 m and consequently was not able to drill the zone.

Drill holes Thor-88 and Thor-89 intersected weak levels of mineralization.

Section 1,003 m south

Drill holes Thor-84 (minus 90 degrees), Thor-85 (minus 70 degrees) and Thor-86 (minus 45 degrees) were drilled from the same set-up. Drill hole Thor-85 intersected a precious-metal- and copper-enriched zone at a depth of 17.37 m.

                           THOR-85

From     To     Au     Ag     Cu    Pb (%)   Zn (%)  Thickness
(m)      (m)   (g/t)  (g/t)   (%)                       (m)

17.37  18.78    2.09   178    0.60   2.99      0.28     1.41

Drill hole Thor-86 intersected the updip portion of this zone where it thins and has a significantly lower grade.

                            THOR-86

From      To     Au       Ag       Cu    Pb (%)   Zn (%) Thickness
(m)       (m)   (g/t)    (g/t)     (%)                      (m)

17.47    18.11   0.34      91     0.06   1.68      0.14    0.64

Drill hole Thor-84 encountered a graphitic/quartz vein fault at a depth of 62.64 to 67.21 m which had no significant mineralization, but is believed to correspond with the CMU.

Section 1,092 m south

Drill holes Thor-91 and Thor-92 were the most southerly drill holes completed on the property, over one kilometre south of the true fissure zone.

Drill hole Thor-92 (minus 45 degrees) tested the Upper Broadview zone in close vicinity to some old workings. The drill hole intersected the old workings at a depth of 33.56 to 35.66 m, but intersected a broad zone of gold-silver mineralization before encountering the old workings.

                          THOR-92

From      To     Au     Ag      Cu     Pb (%)  Zn (%) Thickness
(m)       (m)   (g/t)  (g/t)    (%)                      (m)

29.57    33.56   1.36   227    Trace   0.07     Trace    3.99

Drill hole Thor-91 (minus 90 degrees) intersected only weak levels of precious/base metal mineralization and was drilled under the northerly plunge of the Upper Broadview zone.

Quality control and analytical procedures

Analytical work for the Thor project was completed by Acme Analytical Laboratories Ltd. 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. Drill core is logged on site and sawed in half for analysis. One-half is retained for geologic records and further assay verification if required. Exploration activities on the Thor property were overseen by John Gardiner (PGeol) and Jim Helgeson (PGeo), both qualified persons under the meaning of Canadian National Instrument 43-101.

Analytical quality control checks completed by Taranis are available on its website and are updated frequently.