Thor is MUCH more than a deposit - It is an entire District!

ESTES PARK, CO / ACCESS Newswire / June 24, 2026 / Taranis Resources Inc. ("Taranis" or the "Company") [TSX.V:TRO][OTCQB:TNREF] is providing an update on planned exploration in the Silver Cup Mining District of southeastern British Columbia. Having substantially completed the consolidation of historical exploration data, the Company will use its Thor deposit as a guide to expand the project into a district-scale exploration opportunity.

After more than a century of mining and exploration in the Silver Cup Mining District, Taranis believes it may be the first exploration company to have identified the genetic origins of the area's historic mines. The Company has found a close, repeated association between historically significant mineral deposits and a previously unrecognized, undocumented intrusive rock unit: a series of lamprophyre dykes extending north-northwest through the entire district.

Taranis recently acquired numerous Mineral Tenures adjacent to the Thor Mineral Resource, covering 11 kilometers of highly prospective geology including the lamprophyre dyke system (see Taranis News Release dated 01/20/2025). Historical records show at least eight prospects and mines along the margins of the Thor Lamprophyre dyke system within the Company's new tenures. Taranis plans to test the apparent association between mineralization and lamprophyre in summer 2026. If confirmed, this relationship could support numerous new discoveries across the Silver Cup Mining District.

Taranis identified this district-defining lamprophyre dyke system through careful and ongoing integration of dozens of historical and recent small-scale exploration reports into a single coherent database, and by building on its intricate knowledge of the Thor epithermal deposit. This work has also yielded four unexplored, high-priority exploration targets around the Thor deposit itself. These targets will require extensive drilling in the future (Drill Targets - Thor Project - YouTube).

Identification of the Previously Unknown Lamprophyre Gold Trend

The lamprophyre intrusive - while clearly spatially associated with mineralized zones - is distinct from the better-known epithermal trends within the Silver Cup district. The epithermal trend encompassing the Gyp, IXL, Nettie L., and Ajax mines lies approximately 2 km northeast of the Thor lamprophyre dyke, while Thor lies on its opposite side.

Lamprophyre dykes at Thor were first identified in 2024 during drilling of a deep geophysical magnetotelluric anomaly. Although the dykes themselves are not known to be extensively mineralized, gold mineralization is strongly associated with their margins, where the surrounding wall rocks are intensely carbonatized (ankerite/siderite). These margins display distinctive mineralogy, including magnetite, fuchsite, garnet, and chlorite. Near the Thor epithermal resource, dyke margins have returned highly anomalous gold geochemical values across significant widths (>33 m) in areas with elevated carbonate and fuchsite.

Downhole analysis of 2025 drill holes intersecting the Thor Lamprophyre dyke indicates that it is typically highly magnetic, depleted in silica, and enriched in magnesium, potassium, and Fe₂O₃. Together with downhole magnetic susceptibility measurements, these results show that the lamprophyre dykes can be readily traced using airborne magnetic surveys. Taranis' compilation work has stitched several aeromagnetic surveys together and successfully traced the lamprophyre dyke system across each, forming the basis of the expanded 2026 exploration program.

Mineral Occurrences Associated with the Thor Lamprophyre Dyke

Airborne magnetic data and known mineral occurrences show that nearly all identified occurrences lie on the southwest side of the Thor Lamprophyre Dyke (see accompanying figure). These include historical drill holes, rock samples, and soil samples indicating the dyke margin is highly prospective for gold mineralization along much, and potentially all, of its 11 km length. The occurrences are summarized below from northwest to southeast and are also shown in the figure accompanying this News Release.

Table 1 - Mineral Occurrences In the 11km long Thor Lamprophyre Trend

Note - The Company has in part relied upon historical drill results and data compiled from previous operators, and in the above table these have marked with an asterisk (*). The Company has not independently verified these historical core assays, drill logs, or other survey data, and they were not completed in accordance with current NI 43-101 and CIM Definition Standards. While the historical data is considered relevant to guiding ongoing and future exploration programs, it should not be unduly relied upon by investors.

A Historic Lack of Perspective

One of the Silver Cup Mining District's most defining features has also contributed to its long-term underdevelopment. The district's most successful past-producing mines were exceptionally high-grade and located at or near surface, triggering a gold-rush pattern in which hundreds, and possibly thousands, of individual claims were staked by companies that largely operated in competition. Collaboration was minimal, and exploration results became highly fragmented. As Taranis' Mineral Tenure holdings have expanded, the need for a unified geological model has become paramount. Taranis has searched for historical documentation of the lamprophyre system; although several parties, including the Geological Survey of Canada, referred to a "green intrusive", it was never meaningfully nor systematically linked to mineralization. In Taranis' view, the consolidated data now provides a coherent explanation for the district and a template to find further deposits.

The Thor deposit and its NI 43-101 Mineral Resource provide an important key to identifying additional deposits in the Silver Cup Mining District. Using aeromagnetic data, the previously unrecognized Thor Lamprophyre intrusive dyke can be accurately projected across Taranis' 6,400-hectare property. The presence of lamprophyre indicates deep-mantle melting, and because lamprophyres are rich in volatiles (water and carbon dioxide), they can serve as "plumbing systems" that transport valuable metals, including gold and silver toward the surface. The lamprophyre provides the structural pathway and heat source, while fuchsite marks the footprint of mineral-rich fluids that deposited metals into the surrounding rocks.

Where lamprophyre and gold occur together, the association is a recognized indicator of intrusive-related gold systems. In 2026, Taranis plans to evaluate whether the entire 11 km intrusive dyke is receptive to gold deposition. Together with the existing NI 43-101 Mineral Resource and four high-priority targets adjacent to the deposit, this makes Thor one of British Columbia's most compelling exploration projects.

Qualified Person

Exploration activities at Thor were overseen by John Gardiner (P. Geo.), who is a Qualified Person under the meaning of Canadian National Instrument 43-101. John Gardiner is the principal of John J. Gardiner & Associates, LLC which operates in British Columbia under Firm Permit Number 1002256. Mr. Gardiner is the President and CEO of Taranis Resources inc. and has reviewed and approved the comments contained within this News Release.

Taranis currently has 103,739,487 shares issued and outstanding (122,608,613 shares on a fully-diluted basis).

TARANIS RESOURCES INC.

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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.