Taranis Resources Inc. Announces Closing of Private Placement

FOR IMMEDIATE RELEASE

Taranis Resources Inc.

14247 West Iliff Avenue Lakewood, Colorado 80228-5421 www.taranisresources.com

Taranis Resources Inc. Announces Closing of Private Placement

Lakewood, Colorado, January 2, 2018 – Taranis Resources Inc. ("Taranis") [TSX.V: TRO] [OTCQB: TNREF] announces that it has closed the private placement originally announced on December 22, 2017. The private placement consisted of the sale of 2,000,333 units at a price of $0.15 per unit, for aggregate subscription proceeds of $300,049.95. Each unit consisted of one flow-through common share and one share purchase warrant, with each warrant entitling the holder to purchase one additional flow-through common share at a price of $0.15 until December 29, 2019. All of the securities issued pursuant to the private placement, including any shares that may be issued pursuant to the exercise of the share purchase warrants, are subject to a hold period in Canada until April 30, 2018.

About Taranis Resources Inc.

Taranis is an exploration and mining company focused on the development of its 100%-owned Thor project in southeast British Columbia. In 2017, Taranis completed a fully-permitted mining operation on the property aimed at recovering gold and gaining a better understanding of the newly discovered gold zones at Thor. Taranis is pursuing two parallel and distinct strategies at Thor: one focused on continuing to build a baseline of environmental data on the Thor project while understanding metallurgical insight through mining the deposit in a series of discrete steps, and the other through continued Resource growth and expansion of the existing deposit. Please visit our website at www.taranisresources.com for more information.

Taranis currently has 58,785,382 shares issued and outstanding (68,419,048 shares on a fully-diluted basis).

TARANIS RESOURCES INC.

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

For further information contact:

John Gardiner 14247 West Iliff Avenue Lakewood, Colorado 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.

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