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Lakewood, Colorado, April 24, 2012 - Taranis Resources Inc. ("Taranis") [TSX.V: TRO] is pleased to announce that it has filed Mining Claim Applications over an area in Northern Finland that covers a number of copper-gold mineral deposits, mineral occurrences, and areas of "blue-sky" exploration potential within a contiguous area that measures 73 km2. This area has excellent infrastructure for potential mining operations, and occurs in Finland - A country the Fraser Institute has rated the #1 country in the world for exploration and mining.
Taranis holdings in Northern Finland now encompass an entire copper-gold district referred to as the Kittila Copper-Gold Belt ("KCGB") with 3 known copper-gold deposits, and a number of mineral occurrences that have geologic similarities. Taranis owns these properties 100%.
KCGB Highlights
-------------------------------------------------------------- |Project/Deposit|Size (km2)|Resource/Highlights | |------------------------------------------------------------| |Naakenavaara |13.8 |The “flagship” property in the | | | |KCGB. | | | |Over 77 drill | | | |holes completed (30 | | | |by Taranis) that | | | |demonstrate | | | |copper-gold-cobalt-nickel | | | |mineralization extending over at | | | |least 6 | | | |km2, most | | | |of which appears to be | | | |“bulk-mineable”. | | | |Taranis is | | | |planning a major drilling program| | | |on this | | | |project in | | | |order to build a | | | |large NI 43-101 compliant mineral| | | |resource. | | | |It has also | | | |identified a | | | |number of other | | | |areas within the Naakenavaara | | | |property that | | | |are | | | |indicative of | | | |mineralization far outside the | | | |explored areas. | --------------------------------------------------------------
------------------------------------------------------------------ |Zone |% Cu|Tonnes | |------------------------| |Itämalmi|0.48|9,560,000 | |------------------------| |Läntinen|0.68|2,450,000 | |------------------------| |Kangas |0.45|430,000 | |----------------------------------------------------------------| |Total |0.52|12,440,000| | | | | |Gold: Taranis re-logged and | | | | |systematically | | | | |re-assayed over 17 | | | | |km of drill core | | | | |for gold, and this | | | | |added 20% added-value to | | | | |the existing copper Resource (see | | | | |Taranis News Release August 5, 2011). | | | | | | | | | |Riikonkoski is open at depth (below 200| | | | |m) and this | | | | |remains the | | | | |prime area for | | | | |expansion of this | | | | |Resource. | | | | | | |----------------------------------------------------------------| |Total |0.52|12,440,000| | ------------------------------------------------------------------
------------------------------------------------------------------- |Category|Inferred |Indicated | |--------------------------------------------------| |Cut-Off |Tonneage|Au (g/t) |Tonneage |Au (g/t)| |Au | | | | | |(g/t) | | | | | |--------------------------------------------------| |0.20 |390,000 |0.81 |2,690,000|0.81 | |(Base | | | | | |Case) | | | | | |--------------------------------------------------| |0.40 |320,000 |0.91 |2,240,000|0.91 | |--------------------------------------------------| |0.80 |170,000 |1.22 |1,050,000|1.27 | |--------------------------------------------------| |1.20 |50,000 |1.90 |390,000 |1.76 | |--------------------------------------------------| |1.60 |30,000 |2.35 |130,000 |2.63 | |-----------------------------------------------------------------| |2.00 |30,000 |2.35 |80,000 |3.11 |A separate | | | | | | |area | | | | | | |of | | | | | | |mineralization| | | | | | |occurs | | | | | | |about 600 m | | | | | | |north of the | | | | | | |South Zone | | | | | | |Resource | | | | | | |and includes | | | | | | |a | | | | | | |number | | | | | | |of | | | | | | |high-grade | | | | | | |gold | | | | | | |intercepts | | | | | | |that | | | | | | |have not | | | | | | |been | | | | | | |delineated. | | | | | | |Caracle | | | | | | |Creek | | | | | | |Consulting | | | | | | |has | | | | | | |recommended | | | | | | |a | | | | | | |minimum | | | | | | |3,270 m | | | | | | |diamond | | | | | | |drilling | | | | | | |program in | | | | | | |this | | | | | | |area to | | | | | | |expand on | | | | | | |the | | | | | | |known | | | | | | |high-grade | | | | | | |gold | | | | | | |mineralization| | | | | | |in | | | | | | |this area | | | | | | |discovered | | | | | | |by Taranis | | | | | | |in | | | | | | |2007. | |-----------------------------------------------------------------| |2.00 |30,000 |2.35 |80,000 |3.11 |A separate | |-------------------------------| |Mavrik |1.94 |A | | | |“greenfield” | | | |exploration | | | |target | | | |that was | | | |identified | | | |in | | | |2011 | | | |after | | | |discovering | | | |airborne | | | |EM | | | |conductors | | | |that | | | |have | | | |coincident | | | |ground | | | |magnetic | | | |features. | | | |Subsequent | | | |geochemical | | | |sampling | | | |in the | | | |area | | | |yielded the | | | |highest | | | |anomalous | | | |concentration| | | |of | | | |copper in | | | |the | | | |entire | | | |KCGB. | -------------------------------------------------------------------
------------------------------------------------------------------ |Drill Hole |Intercept | |-------------------------------| |R-392 |3.59% Cu / 2.70 m| |----------------------------------------------------------------| |R-389 |1.21% Cu / 4.00 m| | | | |Nälkäjärvi has not been | | | |analyzed for gold. | | | |Indications from a | | | |regional compilation of | | | |data are that this prospect | | | |was drilled in the wrong | | | |direction. | |----------------------------------------------------------------| |R-389 |1.21% Cu / 4.00 m| | |----------------------------------------------------------------| |Holkkuanvaara|35.74 |A prospective area covering | | | |airborne | | | |EM | | | |conductors located | | | |along a favourable | | | |geological contact | | | |that links the Kettukuusikko | | | |and Naakenavaara Projects. | | | |Ground | | | |geophysical surveying and | | | |geochemical | | | |surveying | | | |that | | | |indicated the presence of | | | |other | | | |copper-gold | | | |deposits in the | | | |area, including Bolder – a | | | |copper | | | |showing that | | | |has never | | | |been drilled. | |----------------------------------------------------------------| |Matara |5.78 |A prospective area also covering| | | |several EM | | | |conductors located | | | |along a favourable | | | |geological contact linking the | | | |Kettukuusikko and Naakenavaara | | | |Projects. | |----------------------------------------------------------------| |Total |72.7 km2 | | ------------------------------------------------------------------
John Gardiner, President and CEO of Taranis Resources Inc. states "Taranis continues to evolve in its understanding of the KCGB. When we examined the other copper-gold prospects in the area (Naakenavaara, Kettukuusikko, Riikonkoski, Nalkajarvi, etc.) we discovered that they shared many geological similarities. Our exploration now suggests that they all appear to lie on a single major stratigraphic contact extending throughout the 73 km2 area. This contact has undergone two major episodes of folding, and now forms a large "Z-shaped" belt that hosts the mineral deposits. The stratigraphic contact that hosts the mineralization is relatively flat-lying, making many of the exploration targets very close to surface, and this seems to be a very unique aspect of this area. This becomes a very important consideration at Naakenavaara where the laterally extensive, but low-grade nature of the mineralization is amenable to bulk-mining methods".
Winner of the Samsung MP3 Player at the 2012 PDAC
Angela Carter-McAuslan, a geophysics graduate student at Memorial University of Newfoundland, won this year's prize at the PDAC. Angela's work at Memorial involves the development of automated techniques for interpreting and modelling multiple datasets using techniques like joint inversion, neural networks and self-organizing maps.
Taranis currently has 34,586,655 shares issued and outstanding (40,630,823 shares on a fully-diluted basis).
TARANIS RESOURCES INC.
Per:John J. Gardiner (P. Geol.),
President and CEO
For further information contact:
------------------------------------------------------------ |John Gardiner |George Kent | |14247 West Iliff Avenue |Suite 1406, 130 Carlton Street| |Lakewood, Colorado |Toronto, Ontario | |Phone: (303) 716-5922 |Phone: (416) 323-0783 | |Cell: (720) 209-3049 |Cell: (416) 697-0783 | |johnjgardiner@earthlink.net|georgerkent@sympatico.ca | | | | ------------------------------------------------------------
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