Estes Park, Colorado - Taranis Resources Inc. ('Taranis') [TSX.V: TRO, OTCQB: TNREF] announces that it has negotiated debt settlement agreements with certain insiders and creditors pursuant to which indebtedness totalling $221,965 in respect of certain outstanding principal and interest loan obligations and in respect of certain outstanding trade payables is to be satisfied by the issuance of 1,305,676 common shares at a deemed price of $0.17 per share, subject to regulatory acceptance.

About Taranis Resources Inc.

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

Taranis currently has 85,681,351 shares issued and outstanding (93,965,017 shares on a fullydiluted basis).

Contact:

John J. Gardiner

681 Conifer Lane

Estes Park, Colorado

80517

T: (303) 716-5922

Cell: (720) 209-3049

E: johnjgardiner@earthlink.net

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