Taranis Submits New Notice of Work Permit Application for Drilling Amid Premier's Call for Expedited Permitting in British Columbia

Rhea-AI Summary

Taranis Resources (TSX.V:TRO, OTCQB:TNREF) has submitted a new Notice of Work (NoW) permit application on January 28, 2025, for exploring a newly identified area at the Thor Property. The application includes five drill sites along an existing access road.

While the company already holds a 5-year MYAB permit issued in March 2024, drilling from the access road would be more efficient, reduce total drilling meters, and minimize environmental impact. The company aims to receive the permit before summer 2025.

This application comes amid British Columbia Premier David Eby's recent acknowledgment that the province needs to expedite permits and improve mining exploration. According to Natural Resources Canada, exploration expenditures in British Columbia have declined nearly 50% since 2022, despite increased demand for critical minerals.

Positive

• Company already holds an existing 5-year MYAB permit for exploration
• New drilling plan designed to reduce costs and environmental impact
• Potential for expedited permit approval due to new government stance

Negative

• Exploration activities dependent on new permit approval
• Operating in region with 50% decline in exploration expenditures since 2022

ESTES PARK, CO / ACCESS Newswire / January 29, 2025 / Taranis Resources Inc. ("Taranis" or the "Company") (TSX.V:TRO)(OTCQB:TNREF) has filed a new Notice of Work ("NoW") permit application to explore a recently-identified area of opportunity on the Thor Property. The application was submitted on January 28, 2025 and consists of five drill sites strategically located along an existing access road to the project. Taranis already holds an existing 5-year MYAB permit to conduct exploration which was submitted August 30, 2023 and issued in March of 2024. Although some of the planned drill holes can be drilled from the existing permitted area, they are most efficiently and safely drilled from the existing access road to Thor. Drilling from the access road will reduce the total number of meters drilled and minimize environmental impact due to significantly reduced surface disturbance. We are genuinely excited about the prospect of having this permit issued quickly (before the summer of 2025), considering Premier Eby's recent comments on exploration and mine permitting.

John Gardiner, President and CEO of Taranis states, "At the last day of the Association of Mineral Exploration (AME) Roundup in Vancouver, Premier David Eby reportedly acknowledged that the NDP government of British Columbia is not doing enough to grow the economy of the province, specifically in natural resource development. Premier Eby further acknowledges that his government's "hyper-focus" on First Nations reconciliation has been to the detriment of mining exploration. Premier Eby said "We need to grow our economy, we need to expedite permits, we need get to metals and minerals out of the ground, and that is one of the reasons why we emphasize the reconciliation work".

Mr. Gardiner continues "Exploration expenditures in British Columbia have dropped nearly 50% since 2022 per Natural Resources Canada, despite a push for exploration and mining companies to find and produce more critical minerals. Taranis has noted that in the same timeframe, the British Columbia government has doubled its expenditures on government agencies that regulate exploration and mining in the province. We hope that Premier Eby's comments are reflective of a genuine desire in British Columbia to issue exploration permits in a more expeditious fashion. Taranis' directors hope to be able to report that Premier Eby's comments have been made in good faith and that a permit has been issued inside of the expectations outlined to the industry".

About Taranis and Thor

Taranis Resources is a Canadian mineral exploration company. The Thor Project is in southeast British Columbia. The Thor property is 100% owned by Taranis resources Inc. and consists of 27 fee-simple Crown Grant Mining Claims located over the Thor epithermal deposit, and 5,445 Ha of Mineral Tenures located over prospective areas in the historic Silver Cup mining district.

Qualified Person

Exploration activities at Thor were overseen by John Gardiner (P. Geo.), who is a Qualified Person under the meaning of Canadian National Instrument 43-101. John Gardiner is a principal of John J. Gardiner & Associates, LLC which operates in British Columbia under Firm Permit Number 1002256. Mr. Gardiner has reviewed and approved the comments contained within this News Release.

For additional information on Taranis or its 100%-owned Thor project in British Columbia, visit www.taranisresources.com

Taranis currently has 100,348,854 shares issued and outstanding (113,827,227 shares on a fully-diluted basis).

TARANIS RESOURCES INC.

Per: John J. Gardiner (P. Geo.), 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 johnjgardiner@earthlink.net

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.

SOURCE: Taranis Resources, Inc.

View the original press release on ACCESS Newswire

FAQ

When did Taranis Resources (TNREF) submit its new Notice of Work permit application?

Taranis Resources submitted its new Notice of Work permit application on January 28, 2025.

How many drill sites are included in Taranis Resources' (TNREF) new permit application?

The new permit application includes five drill sites strategically located along an existing access road.

When was Taranis Resources' (TNREF) existing MYAB permit issued?

The existing 5-year MYAB permit was issued in March 2024, following submission on August 30, 2023.

How much have exploration expenditures in British Columbia declined since 2022?

According to Natural Resources Canada, exploration expenditures in British Columbia have dropped nearly 50% since 2022.

When does Taranis Resources (TNREF) expect to receive the new drilling permit?

The company hopes to receive the permit before summer 2025.