Taranis Demands BC Government Action on Permit Application

ESTES PARK, May 31, 2023 - Taranis Resources Inc. ("Taranis" or the "Company") (TSX.V:TRO)(OTCQB:TNREF) has had its legal counsel write to the Honourable Josie Osborne, BC Minister of Energy, Mines and Low Carbon Innovation, ("EMLI") demanding action on an exploration permit application that was submitted to the Cranbrook regional office nearly a year ago.

The permit application addresses a number of drill sites and roads that must be constructed at the Thor project in order to test for the presence of a large intrusive target, which was outlined by an airborne geophysical survey in early May of 2022.

In a joint announcement with the Association for Mineral Exploration British Columbia on August 15, 2022, EMLI committed to improvements in processing of such applications. Yet despite these promises, Taranis' application remains outstanding.

"Taranis has made every reasonable effort to engage in good faith and be responsive. Now we call upon the Minister to ensure appropriate action is taken by the ministry staff," said President and CEO John Gardiner. "The Supreme Court of Canada has been clear that the Crown's duty to consult does not provide a veto, and government must respect third parties rights as well as Indigenous interests."

Mr. Gardiner added, "We have many US investors that are watching this matter closely, and we urge the government to take steps that enhance investor confidence in British Columbia."

A copy of the letter to Minister Osborne is available on the Taranis website at www.taranisresources.com

Qualified Person

Exploration activities at the Thor project were overseen by John Gardiner (P. Geo.), who is a Qualified Person under the meaning of Canadian National Instrument 43-101. Mr. Gardiner is responsible for, and approves of the technical content in this News Release. John Gardiner is a principal of John J. Gardiner & Associates, LLC which operates in British Columbia under Firm Permit Number 1002256.

For additional information on Taranis or its 100%-owned Thor project in British Columbia, visit www.taranisresources.com

Taranis currently has 85,937,104 shares issued and outstanding (93,012,104 shares on a fully-diluted basis).

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: (303) 716-5922 Cell:
(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.

SOURCE: Taranis Resources Inc.