Subject: Taranis Resources Inc. - News Release
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* denotes a Personal Law Corporation
TUPPER JONSSON & YEADON
BARRISTERS & SOLICITORS
An Association of Lawyers and law corporations
CARL R. JONSSON* LEE S. TUPPER* 1710 - 1177 West hastings street
GLENN R. YEADON* Vancouver, b.c., canada
JEFFREY T. K. FRASER* V6E 2L3
Tel: (604) 683-9262 Local 118
Direct Line: (604) 640-6355
Fax: (604) 681-0139
Email yeadon@securitieslaw.bc.ca
REPLY ATTENTION OF: GLENN R. YEADON
OUR FILE: 46422
November 5, 2026 BY EMAIL
Canada Stockwatch
Vancouver, B.C.
By Email: to news@stockwatch.com
Market News Publishing, Inc.
Vancouver, B.C.
By Email: to news@baystreet.com
Dear Sirs:
RE TARANIS RESOURCES INC.
We are the solicitors for the above-mentioned company, and are enclosing a copy of its News Release of even date, which we would ask that you disseminate pursuant to the TSX Venture Exchange's requirements, as well as for distribution in the normal fashion. (Please note that we will be handling the SEDAR+ filing of this News Release.)
Yours very truly,
TUPPER JONSSON & YEADON
"Glenn R. Yeadon"
Glenn R. Yeadon
GRY/ss
Enclosure
c: Taranis Resources Inc. - via email
Attention: John J. Gardiner, President
tnm@northernminer.com
vancouver@northernminer.com
British Columbia Securities Commission - via SEDAR
Alberta Securities Commission - via SEDAR
Ontario Securities Commission - via SEDAR
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2
FOR IMMEDIATE RELEASE
Taranis Resources Inc.
681 Conifer Lane
Estes Park, Colorado
80517
www.taranisresources.com
Taranis Investigates Metal-Bearing Gossans Underlain by Geophysical Conductors at Nortran
Estes Park, Colorado, November 5, 2026 - Taranis Resources Inc. ("Taranis" or the "Company") [TSX.V: TRO, OTCQB: TNREF] is pleased to announce the findings of the 2026 surface exploration program at the Nortran Target ("Nortran") located immediately west of the "Thor" NI 43-101 Mineral Resource. Nortran was the first of three areas that were examined for prospective drill targets in 2026, while the fourth target area was drilled. Taranis will discuss its findings at each target area in a series of upcoming News Releases, alongside results and analysis of drilling at the "Borr" Target. The four major target areas being investigated in the vicinity of Thor are: "Nortran", "One O'Clock", "Borr", and "Ram".
Nortran has never been examined on the ground by Taranis owing to its remote location and difficulty of access. Nortran is interpreted as the faulted-off western edge of the known Thor deposit, seemingly truncated and separated from the main Thor deposit by the mineralized Ripper Fault. The prospective size of the underlying conductive target is substantial, measuring 1.6 by 1.0 km, and numerous high-grade mineralized float samples have been found at Horton, a small valley immediately downhill of Nortran.
Drone photograph of the NS-11 gossan at Nortran that yielded extremely anomalous metal values
2026 Nortran Exploration Program
Despite no record of exploration in the area, Taranis located upwards of twenty old adits and pits around iron-oxide (goethite-hematite) veins. These veins form large gossanous seeps that were sampled in 2026 for indications of precious and base metals using modern geochemical methods.
Supergene iron-oxide alteration commonly overlays hypogene precious/base metal mineralization through a multi-stage process of weathering, oxidation, and chemical leaching. Gossans behave like a geological "cap" over primary deposits and are one of the most important prospecting indicators of buried sulfide deposits. As the iron-rich, acidic solution neutralizes or hits oxygen-rich surface zones, the dissolved iron precipitates out. It transforms into stable iron oxides and hydroxides - principally goethite and limonite. This process creates a highly visible, rusty gossan (or iron cap) at the surface such as that seen at NS-11. Therefore, the goethite veins found at the Nortran target serve as a major signpost: they are the oxidized remnants of iron sulfides, structurally overlaying and hiding the uneroded, intact hypogene precious and base metal deposit directly beneath them.
Electromagnetic Surveys at Nortran
Taranis has data from three separate airborne electromagnetic surveys that have identified geophysical conductors underlying the supergene iron-oxide cap at Nortran. The first of these surveys was a Questor EM survey conducted in the early 1980's by Nortran Resources (hence the name 'Nortran' for this area). Multiple isolated conductors were identified by this survey but were not drilled. In 2022, Expert Geophysics flew two types of electromagnetic surveys over the area, one being a magnetotelluric ("MT") survey and the other being VLF ("Very Low Frequency"). MT identified a 1.6 by 1.0 km size apparent conductivity anomaly under the gossanous area. All three surveys identified a large deeply buried conductive body for which there is no explanation at surface. The relevance of these conductivity features is that they either represent hypogene mineralization (conductive sulfides) or outline carbonaceous alteration similar to that associated with the main epithermal Thor deposit. Whatever the causative source of the VLF and MT anomalies, both are important and either directly/indirectly track buried sulfide mineralization. Future drill testing of the Nortran target will experimentally verify the cause of the conductivity anomaly and has excellent potential for defining further epithermal-style mineralization to the west of the mineral resources already known and inventoried at Thor.
Geochemistry of Gossans at Nortran
Gossans are primarily iron-bearing, but when they are formed over valuable mineral deposits, they can also contain trace levels of metals such as gold, silver, lead, zinc and copper. To test the possibility that the gossans at Thor originated from such a metal-rich source, Taranis designed a few geochemical sampling programs that are described briefly. Enzyme leach sampling of the gossanous material was chosen to ascertain if there were any traces of precious and base metals in the gossans themselves. The enzyme leach sampling program also included some control samples in areas of known mineralization at the main Thor deposit, to assess whether the method is capable of detecting significant mineralization. Stream sediment and rock sampling was also completed.
One of the gossanous seeps located uphill from the Horton boulder field returned extremely high levels of metals, even when compared with control samples around the Thor deposit. The following table summarizes this data, showing the relative abundance of metals in the NS-11 gossan relative to the control samples from known mineralized zones of the Thor deposit.
Element
Relative Concentration of Metals in NS-11 Gossan to Control Samples Related to Epithermal Mineralization at Thor
Element
Relative Concentration of Metals in NS-11 Gossan to Control Samples Related to Epithermal Mineralization at Thor
Fe
99.4X
Cd
18.0X
Co
246.8X
Ti
5.1X
Ni
278.8X
Cr
16.0X
Cu
11.0X
Y
47.3X
Zn
455.0X
LREE's
15 - 35X
Ge
17.0X
HREE's
18 - 35X
At least one of the gossans at Nortran is extremely enriched in iron, cobalt, nickel, copper and zinc; several other metals (Ge/Cd/Cr) are also elevated relative to control samples from the main Thor deposit. In addition to this, the gossan contained a substantial amount of Light Rare Earth Elements (La, Ce, Pr, Nd, Sm. Eu and Gd) - roughly 15 to 35X those found in the mineralized samples. Heavy Rare Earth Elements (Tb, Dy, Ho, Er, Tm, Yb, Lu) were found to occur at concentrations roughly 18 to 35X those found in the control samples.
Location of Samples
The location and type of the samples discussed in this News Release appear at the end of the News Release as per NI 43-101 disclosure guidelines (UTM Zone 11N, WGS84)
Conclusions
At the surface, Nortran is a supergene weathering environment that has produced numerous gossans over a 1.6km2 area. These showings are intimately related to a well-defined, underlying conductive source. There are no rocks at surface that are conductive, and at least one of the gossanous seeps (NS-11) is extremely anomalous in a suite of metals that appears to have affinities to both the nearby lamprophyre dyke system and the epithermal-type mineralization at Thor. Drill testing of Nortran around the NS-11 gossan is warranted to find the source of the anomalous conductivity and metals, as it is ideally suited to be the source of the high-grade boulders found in the Horton boulder field.
Quality Control and Laboratory Methods
All samples for the Nortran surface sampling program were securely delivered to Actlabs in Kamloops, British Columbia. Analytical work was completed both at the Kamloops, and Ancaster, Ontario locations. Actlabs is ISO 17025 accredited. Gossans were sampled and were analyzed by Enzyme Leach Analysis (Actlabs method ENZ-MS). Rock Samples and stream sediments were analyzed using a combination of gold fire assay with mass spectrometry and INAA (Actlabs method FA-INAA, TD-MS and TD-ICP).
Actlabs maintains a strict quality control methodology that includes internal standards and duplicate samples to ensure accuracy of results.
Qualified Person
Exploration activities at Thor were overseen by John Gardiner (P. Geo.), who is a Qualified Person under
the meaning of Canadian National Instrument 43-101. John Gardiner is the principal of John J. Gardiner &
Associates, LLC which operates in British Columbia under Firm Permit Number 1002256. Mr. Gardiner is the President and CEO of Taranis Resources inc. and has reviewed and approved the comments contained within this News Release.
Taranis currently has 105,620,693 shares issued and outstanding (114,542,746 shares on a fully-diluted basis).
Sample Locations and Types
Sample Number
Easting
Northing
Enzyme Leach
Rock
Stream Sediment
NR-1
463,439
5,617,051
X
NR-2
463,655
5,616,988
X
NR-3
463,447
5,617,033
X
NR-4
463,472
5,616,990
X
NR-5
463,740
5,616,858
X
NR-6
463,731
5,616,848
X
NR-7
463,858
5,616,773
X
NR-8
463,858
5,616,763
X
NS-1
463,720
5,616,857
X
NS-2
463,727
5,616,849
X
NS-3
463,729
5,616,840
X
NS-4
463,739
5,616,859
X
NS-5
463,735
5,616,849
X
NS-6
463,737
5,616,836
X
NS-7
463,741
5,616,833
X
NS-8
463,751
5,616,817
X
NS-9
463,856
5,616,774
X
NS-10
463,866
5,616,772
X
NS-11
463,860
5,616,762
X
NS-12
463,870
5,616,753
X
NS-13 (Control)
464,489
5,617,668
X
NS-14 (Control
464,585
5,616,780
X
NS-15 (Control)
464,652
5,617,018
X
NS-16 (Control)
464,667
5,617,142
X
Y-1
464,541
5,616,552
X
Y-2
464,554
5,616,551
X
Y-3
464,559
5,616,562
X
Y-5
464,586
5,616,551
X
Y-7
464,549
5,616,478
X
Y-8
464,523
5,616,411
X
Y-9
464,518
5,616,399
X
TARANIS RESOURCES INC.
Per: John J. Gardiner (P. Geo.), President and CEO
For further information contact:
John J. Gardiner
681 Conifer Lane
Estes Park, Colorado 80517
Phone: (720) 209-3049 johnjgardiner@earthlink.net
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.
This News Release may contain forward looking statements based on assumptions and judgments of management regarding future events or results that may prove to be inaccurate as a result of factors beyond its control, and actual results may differ materially from expected results.
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