Taranis Resources Inc. Announces Private Placement

FOR IMMEDIATE RELEASE

Taranis Resources Inc.

681 Conifer Lane Estes Park, Colorado 80517 www.taranisresources.com

TARANIS RESOURCES INC. ANNOUNCES PRIVATE PLACEMENT

NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES

Estes Park, Colorado, August 12, 2019 – Taranis Resources Inc. (“Taranis” or the “Company”) [TSX.V: TRO] announces a private placement to consist of the sale of the following securities :

(a) up to one 1,000,000 units a price of $.10 each, to raise gross proceeds of up to $100,000, each unit to consist of one common share and one share purchase warrant, with each warrant to entitle the holder to purchase one additional common share at a price of $0.15 for a period of 24 months from closing; and

(b) up to 2,500,000 flow-through units at a price of $0.10 each, to raise gross proceeds of up to $250,000, each flow-through unit to consist of one flow-through common share and one flow-through share purchase warrant, with each warrant to entitle the holder to purchase one additional flow-through common share at a price of $0.15 for a period of 24 months from closing.

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The proceeds from this private placement, which is subject to regulatory acceptance, will be used for further exploration at the Company’s Thor Project in southeastern British Columbia, and for working capital purposes.

All securities issued pursuant to the private placement, including any shares that may be issued pursuant to the exercise of the share purchase warrants, will be subject to a hold period in Canada of four months plus one day from closing.

About Taranis Resources Inc.

Taranis is an exploration company focused on the development of its 100%-owned Thor project in southeast British Columbia. The Company has a clear strategy that involves the ongoing growth of the mineral Resource at Thor, and commercial mining of the deposit. For additional information on Taranis or its Thor project, please visit our website at www.taranisresources.com.

Taranis currently has 66,056,042 shares issued and outstanding (72,289,708 shares on a fully-diluted basis).

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

TARANIS RESOURCES INC.

Per: John J. Gardiner (P. Geol.), President and CEO

For further information contact:

John J. Gardiner 681 Conifer Lane Estes Park, Colorado 80517 Phone: (303) 716-5922 Cell: (720) 209-3049 [email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

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.