Taranis Resources Inc.

COMPANY DATA | INTRODUCTION |  PROJECT IN HAND |  MANAGEMENT
NEWS UPDATE | CHINESE

COMPANY DATA

INTRODUCTION

Taranis Resources Inc. ("Taranis") is a Colorado-based resource company pursuing multiple gold and silver projects in Finland, Nevada and Canada. Taranis has a strategic alliance in Finland with Royal Gold, Inc. which includes the 100% owned Kettukuusikko project. It is also actively exploring projects in Nevada that include the following 100% owned properties: Midway East, Tybo West, and Caselton East. Recently, Taranis sold its 100% interest in the Needles project to DiscFactories and will retain a 2% NSR.

Taranis Resources Inc. was incorporated in December 2001, and their mission is to explore and develop precious metal exploration properties with the objective of delineating mineral resources. Taranis' underlying strength is their competent Board of Directors, that have collectively logged over 180 years in the mining and exploration business.

PROJECT IN HAND

(1) Kettukuusikko Property, Lapland, Finland

The Kettukuusikko property was acquired in October 2004. Early in 2004, the Geological Survey of Finland put the project out for international tenders. Taranis Resources Inc. submitted a tender to further explore the property, and this was accepted by the Ministry of Trade and Industry. The property is an advanced-stage exploration project with significant exploration upside.

A total of over 100 core holes have been drilled on the property, of which Taranis has completed over 64 holes in the past 2 years. Gold mineralization is associated with the Sirkka Shear Zone where it transgresses a large "Z" shaped fold structure. The deposit is associated with highly altered ultramafic rocks and zones of extensive pyritization and quartz flooding. A recently completed IP/resistivity survey has found a number of target areas outside of the Kettukuusikko South Zone and drilling this winter could significantly enhance the gold-bearing Resource.

(2) Thor Project, Revelstoke Mining District, British Columbia, Canada

Thor property consists of 27 Crown Patent Claims located in South Eastern British Columbia. Taranis is currently undertaking a due-diligence on the property. Previous operators on the property have identified/exploited high grade silver and gold from lead/silver-rich structures on the property.

The deposits include: Great Northern, Blue Bell, Broadview, St. Elmo and True Fissure.

(3) Nevada Exploration Projects, U.S.A.

Midway East: The property consists of 60 Bureau of Land Management ("BLM") claims that were subsequently surrounded by a major mining company. Taranis has completed geophysical surveys and identified a number of drill targets. A 6 hole drilling program has been bonded and is scheduled to commence later in 2006.

Tybo West: Taranis has completed a number of geotechnical surveys including geochemistry and geophysics on the property aimed at locating additional gold and silver mineralization. Recently, 3-Dimensional modeling of the IP/resistivity surveys in conjunction with soil geochemistry has yielded a number of targets along the Dimick Epithermal Trend.

Caselton East: The Caselton East property, consisting of 77 BLM claims, is located in close proximity to the historic Pioche mining district. Based on regional geophysical data, a major gold and silver-bearing structure (Caselton Ore Channel) extends eastward from the Pioche mining district, and remains largely unexplored. Taranis has recently received approval from the BLM for a planned 8 drill hole program.

MANAGEMENT

Taranis Resources Inc. has a well management team with experience in different areas.

John J. Gardiner, President and CEO
Mr. Gardiner is a geologist with over twenty-five years of experience in the mining industry, working as an exploration and mining geologist and as regional manager. He has worked for several major companies including Noranda, Placer Dome, Echo Bay and Cameco Corporations. He obtained a Bachelor of Science degree from the University of Toronto in 1980, and a Master of Science degree from Acadia University in 1986. Mr. Gardiner is a member of the Association of Professional Engineers, Geologists and Geophysicists of Alberta and the Wyoming Association of Professional Geologists.

George R. Kent, Vice President Corporate Development
Mr. Kent has over fifty years of mining and mineral exploration experience. He was the founder, President and Chief Executive Officer of two successful junior public mining companies. Mr. Kent also holds Bachelor and Master of Science degrees. He is a Professional Engineer in Ontario, and is a member of the Canadian Institute of Mining and Metallurgy and of the Prospectors and Developers Associations. He was formerly a senior geologist and director of WGM Ltd., a UN Project Manager, a University Professor of Geology and has served as Chief Engineer and Chief Geologist at producing mines. He has been a Director of Taranis since its incorporation and the VP of Corporate Development since December 2002.

James M. Helgeson, Vice President Mineral Exploration
Mr. Helgeson is a geologist with over twelve years of experience in the mining industry. He has experience both as an exploration and a mine geologist, and has been employed by a variety of major mining companies. He obtained a Bachelor of Science degree from the University of Nebraska in 1988, and a Master of Science degree from Oregon State University in 1993. Mr. Helgeson is a member of the Geologic Society of Nevada, and the Society of Economic Geologists. He has been a Director of Taranis since November 2002, and its Vice President, Exploration since December 2002.

Glenn R. Yeadon, Secretary
Mr. Yeadon is a barrister and solicitor primarily in the practice of securities law. Mr. Yeadon obtained a Bachelor of Commerce degree from the University of British Columbia in 1975, and a Bachelor of Laws degree from the University of British Columbia in 1976. He has been the Secretary and a Director of Taranis since its incorporation.

The member of Board of Directors include:

John J. Gardiner
James M. Helgeson
George R. Kent
Glenn R. Yeadon
Richard D. McCloskey
Gary R. McDonald
Stanley Dempsey

NEWS UPDATE

On February 07, 2007 Taranis Resources Inc. has closed the $228,250 private placement announced on January 03, 2007. This private placement consisted of the sale of 41,500 units at a price of $5.50 per unit. All of the securities issued in connection with the closing of this private placement are subject to a hold period n Canada until May 20, 2007.

On January 19, 2007 The TSX Venture Exchange has accepted for expedited filing documentation with respect to a non-brokered private placement announced January 03, 2007. Number of shares: 415,000 shares (of which 332,000 are flow-through shares ).On January 9, 2007, Taranis Resources Inc. announced that it has closed its acquisition of the Thor property, located in the Revelstoke mining district, British Columbia. The total consideration to acquire 100% of this property (subject to no royalties) consisted of cash payments totalling approximately $750,000 and the issuance of 1.25 million common shares of Taranis. All of these shares are subject to a hold period in Canada until April 16, 2007.

On January 3, 2007, Taranis Resources Inc. announced that it has negotiated a $228,250 private placement with a group of investors. This private placement, which is subject to regulatory acceptance, will consist of the sale of 41,500 units at a price of $5.50 per unit, each unit to comprise:

1. eight flow-through common shares;
2. two ordinary common shares; and
3. five share purchase warrants, with each warrant to entitle the holder to purchase one additional ordinary common share for a period of one year from closing at a price of 60 cents per share.

Of the proceeds received, 80% will be allocated to line cutting, mapping and geophysical surveys on the Thor property, located in British Columbia, with the remaining 20% to be used for working capital purposes.

On December 14, 2006 the TSX Venture Exchange has accepted for filing documentation of an amending agreement dated December 05, 2006, between Taranis Resources Inc. and Vanada Resources Ltd.( a private company, the vendor). The amending agreement amends and clarifies the original letter agreement dated August 18, 2006, whereby the issuer has been granted the right to purchase 100% of the vendor’s right, title and interest in and to the surface and mining rights to 27 mineral claims (the Thor property) situated in the Revelstoke mining district, British Columbia.

On December 13, 2006 Taranis Resources Inc.’s drilling activities have commenced on the Kettukuusikko property located in Finland. Drilling activities were delayed two weeks owing to unseasonably warm weather which made access to the property impossible. Taranis will add a second drill to the property in early January, 2007, in order 

to accelerate the exploration of a number of drill targets identified in geophysical surveys undertaken in the summer and fall of 2006. This program is designed to expand on the known gold mineralization found in the Kettukuusikko North and South zones, and to explore a number of inducted polarization anomalies found along strike of these zones.

On November 20, 2006, Taranis Resources Inc. announced that the TSX Venture Exchange has accepted for expedited filing documentation of a letter agreement dated August 18, 2006, between Taranis Resources Inc. and Vanada Resources Ltd. (a private Ontario company, the vendor), whereby the issuer has been granted the right to purchase 100% of the vendor's right, title and interest in and to the surface and mining rights to 27 mineral claims (the Thor property) situated in the Revelstoke mining district, British Columbia.

On November 16, 2006, Taranis Resources Inc. announced the results of underground and surface chip and stockpile sampling from the Blue Bell, True Fissure, Great Northern and Broadview Deposits located on the Thor Property, Trout Lake, SE of Revelstoke, British Columbia. Taranis has the right to acquire, subject to regulatory acceptance, a 100% interest in the four deposits from Vanada Resources Ltd. for consideration which will include the issuance of 1,200,000 common shares in its capital stock, as previously disclosed in Taranis' August 23, 2006 News Release.

Blue Bell Deposit:

Taranis collected six grab samples from a stockpile located below the Blue Bell Deposit that average 5.37 g/t Au, 86.26 g/t Ag, 0.13% Cu, 0.18% Pb and 13.15% Zn which helps to further document the gold-rich nature of this zone.

True Fissure Deposit:

Chip sampling was undertaken on the wall of the open pit where only the upper part of the True Fissure Zone is exposed. Taranis also took ten grab samples from the stockpile located in the open pit. The average grade of these samples is 1.79 g/t Au, 533.60 g/t Ag, 0.21% Cu, 6.19% Pb and 6.46% Zn.

Great Northern Deposit:

A total of 10 bags of grab samples were collected from the surface stockpile and averaged 3.07 g/t Au, 1166.14 g/t Ag, 1.45% Cu, 3.50% Pb and 4.95% Zn.

Broadview Deposit:

The Broadview Deposit is exposed for a strike length of 280 m on surface where two chip samples across the zone. Systematic grab samples on 5 m spacing were collected from an stockpile located at the Upper Broadview Zone that averaged 1.12 g/t Au, 411.45 g/t Ag, 2.79% Cu, 10.16% Pb and 9.72% Zn.

John Gardiner, President and CEO of Taranis Resources Inc. comments "with the documentation of ore-grade precious and base metals over a 1,400 m strike length on surface at Thor, we are relatively confident that Taranis can identify additional mineralization down-dip and down-plunge of the existing deposits. The property is particularly suited to exploration by diamond drilling, and we are hopeful that drilling will quickly establish a resource on the Thor Property. Although our field investigations were limited, it appears that the four deposits may represent a hybrid volcanogenic-SEDEX type deposit which would explain the very high gold content Taranis has documented." The precious and base metal mineralization is restricted to massive sulphide and quartz-rich zones that have experienced deformation and possibly even dislocation. Topography and accessibility are amenable to relatively low-cost exploration and diamond drilling. Taranis plans extensive exploration in 2007, and is assembling all available historic information available on the Thor Property.

On October 31, 2006, Taranis Resources Inc. announced that it has acquired several Mineral Reservations in Finland that cover the Naakenavaara gold-copper prospect (Vitsakumpu 1-2 and Kortevuoma 1 and Kaltioselka 1-2), and the Marskinkuusikko Project located west and southwest of Agnico Eagle's Kittila Mine (Suaspalo 1-3 and Marskinkuusikko 1-2). The Company has also executed an agreement with Aeroquest International Limited to undertake airborne geophysical surveys on its key properties in Northern Finland.

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