Taranis Resources Inc. is developing an exploration plan for its 100%-owned Thor project in British Columbia for 2023. Taranis has compiled substantial evidence that the 2.2 km long epithermal
deposit is the uppermost expression of mineralization of a deep underlying porphyry deposit. Testing this theory will require significantly deeper drilling than was necessary to define the epithermal resource.
However, the large size and low cost of production inherent to porphyry mineralization could conceivably increase the Mineral Resource significantly. The combination of near-surface high-grade mineralization
and deep, consistent hypogene mineralization would make Thor an important mining asset in British Columbia. Taranis has carefully examined the nearby Max porphyry molybdenum deposit (8 km SW) as it explores
Thor, in order to contextualize and interpret the vein-type Ag/Au/Pb/Zn/Cu epithermal mineralization at Thor. Previous descriptions of the Max mine show that the porphyry is entirely hosted within
metasedimentary rocks, and it is associated with minor peripheral epithermal type veins that contain silver, lead and zinc. Third-party publicly available research has shown that the epithermal-type veins peripheral
to Max were formed by the intrusive. Taranis believes that the Thor epithermal deposit is a direct analogy to this situation, and that the comparatively massive epithermal deposit occurs in close proximity to a
concealed intrusive body. Taranis has developed a robust data management and interpretation plan to review the considerable amount of data from the 2022 exploration program. In addition to this it has filed a Notice of Work application with the British Columbia Ministry of Energy, Mines and Low Carbon Innovation ("EMLI") to build access roads to deep drill sites, which is currently out for consultation.