Taranis Resources Inc. Bolsters Thor Project with Private Placement

Taranis Resources Inc. (TSX.V:TRO)(OTCQB:TNREF) has successfully closed a private placement, raising $250,000 through the issuance of 454,546 flow-through units (FT Units). The proceeds will be used to incur expenses that qualify as Canadian Exploration Expenses (CEE), specifically for finalizing engineering work and documents required for the construction of a bulk sampling plant at its Thor property in southeastern British Columbia. This strategic move demonstrates Taranis' commitment to advancing its Thor project, which has already seen extensive exploration with over 250 drill holes linking previously known mines into a single, near-surface epithermal deposit.

The private placement, announced on October 29, 2024, consisted of the sale of FT Units at a price of $0.55 per unit. Each FT Unit consisted of one flow-through common share and one share purchase warrant (Warrant), with each Warrant entitling the holder to purchase one additional common share at a price of $0.50 for a period of 24 months from closing. The participation of insiders in the private placement constituted a related party transaction within the meaning of TSX-V Policy 5.9 and Multilateral Instrument 61-101 - "Protection of Minority Security Holders in Special Transactions" (MI 61-101). Taranis relied on exemptions from the formal valuation and minority shareholder approval requirements provided for under sections 5.5(a) and 5.7(a) of MI 61-101, as the fair market value (as determined under MI 61-101) of insider participation in the private placement did not exceed 25% of Taranis' market capitalization.

Taranis' Thor project, located in the Silver Cup Mining District of southeastern British Columbia, has significant potential. The company's exploration approach is based on the premise that historic mines in the area are potentially underlain by comparatively large mineral deposits that do not outcrop at surface. Taranis has completed upwards of 250 drill holes, linking all previously known mines into a single, near-surface epithermal deposit that has been recently updated into an NI 43-101 Mineral Resource Estimate. In the summer of 2024, Taranis initiated deep drilling aimed at finding the source of the 2km long epithermal deposit, using modern geological models and state-of-the-art exploration tools including airborne magnetotellurics, magnetics, and drill hole alteration geochemistry.

The successful closure of this private placement reflects positively on Taranis' financial health and its commitment to advancing its projects. The influx of capital will enable the company to finalize engineering work and documents required for the construction of a bulk sampling plant at its Thor property, furthering its exploration and development efforts. This strategic investment demonstrates insiders' confidence in the company's prospects, as they subscribed for all of the FT Units, potentially signaling a positive outlook on Taranis' growth trajectory.

As Taranis Resources Inc. continues to advance its Thor project, investors should monitor the company's progress and the potential impact of the private placement on its shareholder dynamics and market valuation. The completion of this private placement and the associated capital influx may influence investor sentiment and potentially drive an increase in the company's market valuation. However, it is essential to consider the potential risks and dilution effects associated with the warrant exercise price and expiration date.

In conclusion, Taranis Resources Inc.'s successful private placement demonstrates the company's commitment to advancing its Thor project and unlocking its full potential. By allocating the proceeds to finalize engineering work and documents required for the construction of a bulk sampling plant, Taranis is positioning itself to capitalize on the opportunities presented by its exploration efforts in the Silver Cup Mining District. As the company continues to make progress, investors should closely monitor its developments and evaluate the potential impact of the private placement on its shareholder dynamics and market valuation.