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Lakewood, Colorado, February 29, 2012 - Taranis Resources Inc. ("Taranis") [TSX.V: TRO] is pleased to announce that it has engaged Computational Geosciences Inc. ("CGI") of Vancouver, British Columbia to evaluate geophysical data on its Naakenavaara 1-4 Mining Claims, and its Naakenavaara 5-14 Mining Claim Applications in Finland.
During the spring of 2011, Taranis completed a detailed SkyTEM magnetic and electromagnetic survey of its Naakenavaara project in Finland that has yielded widespread copper, gold, cobalt and nickel mineralization. The detailed survey is located over a 14 km2 area that covers a single, shallow structural basin (syncline) of folded volcanic, sedimentary and intrusive rocks. Mineralization extends far beyond the Naakenavaara 1-4 Mining Claims, into the area covered by the Naakenavaara 5-14 Mining Claims that Taranis has filed Mining Claim applications.
CGI provides leading-edge technological solutions to maximize the value of geophysical exploration surveys. CGI was selected for this evaluation owing to its state-of-the-art 3D electromagnetic inversion methodology, and also for its ability to integrate existing geological information into models that will allow Taranis to fully explore the Naakenavaara property.
John Gardiner, President and CEO states "Naakenavaara is a very large project that requires a systematic approach to exploration to be able to fully capitalize on the value of the project. There are virtually no outcrops, consequently geophysics and drilling are critical aspects of the exploration process. We are very hopeful that CGI's analyses of the data will not only provide information about how the known areas of mineralization within the "Bulls-Eye" are inter-connected, but also provide additional high-priority targets outside of the known areas of mineralization that can be tested when the Naakenavaara 5-14 Mining Claim Applications are finally processed".
Taranis currently has 34,586,655 shares issued and outstanding (46,127,823 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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