Taranis drills 4.33 m of 2.01 g/t Au, 667.35 g/t Ag

2008-12-11 12:42 ET - News Release

Mr. John Gardiner reports

TARANIS CUTS 4.33 M OF 2.01 G/T AU, 667.35 G/T AG, 0.19% CU, 6.37% PB & 9.19% ZN IN GREAT NORTHERN ZONE, AND 2.72 G/T AU, 667.34 G/T AG OVER 2.59 M IN THE UPPER BROADVIEW ZONE AT THOR PROJECT, BRITISH COLUMBIA

Taranis Resources Inc. continues to received analytical results from its 2008 summer drilling program completed at Thor, located in southeastern British Columbia. Drill holes were completed on a sectional basis and were drilled normal to the strike and dip (azimuth west-southwest) of the combined metals unit (CMU), with approximately 40 metres between drill holes.

General

Analytical results have now been received for 33 of the 92 drill holes from the summer drilling program at Thor. The results below encompass drilling conducted over 1.5-kilometre strike length of the CMU, moving from the St. Elmo/Blue Bell zone at the north end of the property, through the Great Northern zone (GNZ) and finally into the Upper Broadview zone located at the south end of the property.

Overlimit silver values previously not reported for holes Thor-128 and Thor-131 Section 405 metres north (St. Elmo/Blue Bell zone)

Taranis has now received the overlimit silvers for drill holes previously reported (See news release issued in Stockwatch dated Oct. 22, 2008) in the Blue Bell mine area. High levels of silver content necessitated fire assaying the samples followed by a gravimetric determination of the silver content. Silver results for both of these holes were initially cut to 300 grams per tonne, and the new overlimit silver numbers have significantly improved the tenor of the zones.

                                 THOR-128

From       To       Au       Ag      Cu       Pb      Zn   Thickness
   (m)     (m)    (g/t)    (g/t)     (%)      (%)     (%)         (m)

12.22   13.23     2.22   477.55    1.01    15.10    3.66        1.01

Drill hole Thor-131 had a small interval (15.85 to 16.46 metres) assaying 2,347 grams per tonne silver.

                                 THOR-131

From       To       Au       Ag      Cu       Pb      Zn   Thickness
   (m)     (m)    (g/t)    (g/t)     (%)      (%)     (%)         (m)

15.36   17.53     3.13   737.92    1.17    10.26   46.89        2.17

Section 180 metres south

Drill hole Thor-79 (minus-75 degrees) was drilled in the GNZ down-dip of drill hole Thor-56, and has extended the CMU 160 metres down dip of the surface exposure of the GNZ. This drill hole is representative of the true thickness of the zone.

                                     THOR-79

From       To       Au       Ag      Cu       Pb      Zn   Thickness
   (m)     (m)    (g/t)    (g/t)     (%)      (%)     (%)         (m)

108.21 112.54     2.01   667.35    0.19     6.37    9.19        4.33

Drill Hole Thor-76 (minus-90 degrees) was drilled 40 metres down dip of hole Thor-79, and intersected the CMU at a depth of 133.21 metres below surface. This drill hole intersected a massive pyrite zone from 134.78 136.25 metres with low levels of base metal and precious metals.

                                       THOR-76

 From      To       Au       Ag      Cu       Pb      Zn   Thickness
   (m)     (m)    (g/t)    (g/t)     (%)      (%)     (%)         (m)

133.21 135.71     1.01    15.41    0.04     0.19    1.14        2.50

Section 1,076 metres south (Upper Broadview mine area)

Three short drill holes were completed on a section south of the Upper Broadview mine workings. Drill hole Thor-78 (minus-70 degrees) intersected a quartz-bearing gossan enriched in gold and silver.

                                       THOR-78

 From      To       Au       Ag      Cu       Pb      Zn   Thickness
   (m)     (m)    (g/t)    (g/t)     (%)      (%)     (%)         (m)

 9.60   12.19     2.72   667.34    0.02     1.63    0.07        2.59

Drill holes Thor-77 (minus-45 degrees) and Thor-80 (minus-88 degrees) were completed from the same set-up and intersected only weak zinc (1 to 2 per cent zinc values) over several metres.

Quality control and analytical procedures

Analytical work for the Thor project was completed by Acme Analytical Laboratories Ltd. of Vancouver, Canada, that is accredited to BS EN ISO 9001:2000. In addition to the numerous internal quality control checks undertaken within Acme, Taranis also submits a series of external standard samples to ensure accurate analytical reporting, and also uses external laboratories (ALS Chemex) to verify the integrity of sample results. Drill core is logged on site and sawed in half for analysis. One-half is retained for geologic records and further assay verification if required. Exploration activities on the Thor property were overseen by John Gardiner, PGeo, and Jim Helgeson, PGeo, both qualified persons under the meaning of Canadian National Instrument 43-101.

We seek Safe Harbor.