Mr. John Gardiner reports

TARANIS TO EXPLORE NEW PROPERTIES EAST OF THOR MINERAL RESOURCE

Taranis Resources Inc. has provided an update on planned exploration in the Silver Cup mining district of southeastern British Columbia. Having substantially completed the consolidation of historical exploration data, the company will use its Thor deposit as a guide to expand the project into a district-scale exploration opportunity.

After more than a century of mining and exploration in the Silver Cup mining district, Taranis believes it may be the first exploration company to have identified the genetic origins of the area's historic mines. The company has found a close, repeated association between historically significant mineral deposits and a previously unrecognized, undocumented intrusive rock unit: a series of lamprophyre dikes extending north-northwest through the entire district.

Taranis recently acquired numerous mineral tenures adjacent to the Thor mineral resource, covering 11 kilometres of highly prospective geology, including the lamprophyre dike system (see Taranis's news release dated Jan. 20, 2025). Historical records show at least eight prospects and mines along the margins of the Thor lamprophyre dike system within the company's new tenures. Taranis plans to test the apparent association between mineralization and lamprophyre in the summer of 2026. If confirmed, this relationship could support numerous new discoveries across the Silver Cup mining district.

Taranis identified this district-defining lamprophyre dike system through careful and continuing integration of dozens of historical and recent small-scale exploration reports into a single coherent database and by building on its intricate knowledge of the Thor epithermal deposit. This work has also yielded four unexplored, high-priority exploration targets around the Thor deposit itself. These targets will require extensive drilling in the future.

Identification of the previously unknown lamprophyre gold trend

The lamprophyre intrusive -- while clearly spatially associated with mineralized zones -- is distinct from the better-known epithermal trends within the Silver Cup district. The epithermal trend encompassing the Gyp, IXL, Nettie L. and Ajax mines lies approximately two kilometres northeast of the Thor lamprophyre dike while Thor lies on its opposite side.

Lamprophyre dikes at Thor were first identified in 2024 during drilling of a deep geophysical magnetotelluric anomaly. Although the dikes themselves are not known to be extensively mineralized, gold mineralization is strongly associated with their margins, where the surrounding wall rocks are intensely carbonatized (ankerite/siderite). These margins display distinctive mineralogy, including magnetite, fuchsite, garnet and chlorite. Near the Thor epithermal resource, dike margins have returned highly anomalous gold geochemical values across significant widths (greater than 33 metres) in areas with elevated carbonate and fuchsite.

Downhole analysis of 2025 drill holes intersecting the Thor lamprophyre dike indicates that it is typically highly magnetic, depleted in silica, and enriched in magnesium, potassium and Fe2O3 (iron oxide). Together with downhole magnetic susceptibility measurements, these results show that the lamprophyre dikes can be readily traced using airborne magnetic surveys. Taranis's compilation work has stitched several aeromagnetic surveys together and successfully traced the lamprophyre dike system across each, forming the basis of the expanded 2026 exploration program.

Mineral occurrences associated with the Thor lamprophyre dike

Airborne magnetic data and known mineral occurrences show that nearly all identified occurrences lie on the southwestern side of the Thor lamprophyre dike. These include historical drill holes, rock samples and soil samples indicating the dike margin is highly prospective for gold mineralization along much and potentially all of its 11-kilometre length. The occurrences are summarized below from northwest to southeast.

A historic lack of perspective

One of the Silver Cup Mining district's most defining features has also contributed to its long-term underdevelopment. The district's most successful past-producing mines were exceptionally high-grade and located at or near surface, triggering a gold-rush pattern in which hundreds and possibly thousands of individual claims were staked by companies that largely operated in competition. Collaboration was minimal, and exploration results became highly fragmented. As Taranis's mineral tenure holdings have expanded, the need for a unified geological model has become paramount. Taranis has searched for historical documentation of the lamprophyre system; although several parties, including the Geological Survey of Canada, referred to a green intrusive, it was never meaningfully or systematically linked to mineralization. In Taranis's view, the consolidated data now provide a coherent explanation for the district and a template to find further deposits.

The Thor deposit and its National Instrument 43-101 mineral resource provide an important key to identifying additional deposits in the Silver Cup mining district. Using aeromagnetic data, the previously unrecognized Thor lamprophyre intrusive dike can be accurately projected across Taranis's 6,400-hectare property. The presence of lamprophyre indicates deep-mantle melting, and, because lamprophyres are rich in volatiles (water and carbon dioxide), they can serve as plumbing systems that transport valuable metals, including gold and silver toward the surface. The lamprophyre provides the structural pathway and heat source, while fuchsite marks the footprint of mineral-rich fluids that deposited metals into the surrounding rocks.

Where lamprophyre and gold occur together, the association is a recognized indicator of intrusive-related gold systems. In 2026, Taranis plans to evaluate whether the entire 11-kilometre intrusive dike is receptive to gold deposition. Together with the existing NI 43-101 mineral resource and four high-priority targets adjacent to the deposit, this makes Thor one of British Columbia's most compelling exploration projects.

Qualified person

Exploration activities at Thor were overseen by John Gardiner, PGeo, who is a qualified person under the meaning of NI 43-101. Mr. Gardiner is the principal of John J. Gardiner & Associates LLC, which operates in British Columbia under firm permit No. 1002256. Mr. Gardiner is the president and chief executive officer of Taranis Resources and has reviewed and approved the comments contained within this news release.

Taranis currently has 103,739,487 shares issued and outstanding (122,608,613 shares on a fully diluted basis).

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