Taranis Intersects 4.54% Zn, 2.83% Pb, 0.21% Cu, 1.31 g/t Au and 176.17 g/t Ag over 1.71 m in North Extension of True Fissure Zone - 3.80% Zn, 13.83% Pb, 0.40% Cu, 5.49 g/t Au and 577.09 g/t Ag Over 0.52 m in South Extension of True Fissure Zone



    Lakewood, CO, Jan. 24 /CNW/ - Taranis Resources Inc. ("Taranis") (TSX.V:
TRO) is pleased to present further drill results from its Thor Property. The
drill results pertain to the south and north extensions of the True Fissure
Zone ("TFZ") where a number of ore-grade intercepts were previously reported.

    
                              True Fissure Zone

    Twenty-nine drill holes have penetrated the TFZ, and Thor-12, 13 and 22
are the last holes to be reported from the 2007 drilling campaign. The TFZ has
been drilled on 40 m centers and has a number of pre-existing exploration
drifts that have been channel sampled by previous operators. Taranis has not
reported on the previous channel samples, but they are deemed to be highly
reliable and corroborate the Taranis drill results.

    Section 120m North

    Drill Hole Thor-12 (-45 degrees) was drilled down-dip of drill hole
Thor-11 which previously intersected 1.09 g/t Au, 104.04 g/t Ag, 0.13% Cu,
2.05% Pb and 2.41% Zn / 6.10 m (see News Release dated September 5, 2007).

    -------------------------------------------------------------------------
     Thor-12
    -------------------------------------------------------------------------
      From       To       Au       Ag       Cu       Pb       Zn   Thickness
        (m)      (m)    (g/t)    (g/t)      (%)      (%)      (%)         (m)
    -------------------------------------------------------------------------
     13.41    16.46     0.49    82.09     0.06     0.40     4.89        3.05
    -------------------------------------------------------------------------

    Drill Hole Thor-13 (-65 degrees) was drilled down-dip of Thor-12 from the
same setup and intersected the downward continuation of the intercept
encountered in drill hole Thor-12.

    -------------------------------------------------------------------------
     Thor-13
    -------------------------------------------------------------------------
      From       To       Au       Ag       Cu       Pb       Zn   Thickness
        (m)      (m)    (g/t)    (g/t)      (%)      (%)      (%)         (m)
    -------------------------------------------------------------------------
     14.57    16.28     1.31   176.17     0.21     2.83     4.54        1.71
    -------------------------------------------------------------------------


    Section 80m North

    Drill Hole Thor-22 (-45 degrees) was drilled down-dip of drill holes
Thor-9, 10 and 11 (see News Release dated September 5, 2007) and intersected
the TFZ. The intercept has a prevalent fault in the hangingwall and indicates
that the TFZ has likely been dislocated from the structural footwall of the
GNZ.

    -------------------------------------------------------------------------
     Thor-22
    -------------------------------------------------------------------------
      From       To       Au       Ag       Cu       Pb       Zn   Thickness
        (m)      (m)    (g/t)    (g/t)      (%)      (%)      (%)         (m)
    -------------------------------------------------------------------------
     50.35    50.60     1.92    10.13     0.01     0.20     0.78        0.25
    -------------------------------------------------------------------------
     50.60    51.36  Lost Core
    -------------------------------------------------------------------------
     51.36    52.64     0.24    25.24     0.01     1.19     0.90        1.28
    -------------------------------------------------------------------------
     and
    -------------------------------------------------------------------------
     54.44    56.91     1.02    45.99     0.02     1.15     1.73        2.47
    -------------------------------------------------------------------------

    Thor 23 (-65 degrees) and Thor-24 (-85 degrees) were drilled under Thor-22
and both holes were lost due to caving before intersecting the TFZ.

                   True Fissure Zone (Southern Extension)

    Five shallow drill holes were completed on the south extension of the TFZ
to understand the geologic connection between the TFZ and the GNZ. These drill
holes demonstrate that the Combined Metals Unit continues in this area, and is
highly attenuated.

    Section 40m South

    Drill hole Thor-42 (-45 degrees) was drilled south of the TFZ open-pit and
indicates that the TFZ continues south of the existing open pit.

    -------------------------------------------------------------------------
     Thor-42
    -------------------------------------------------------------------------
      From       To       Au       Ag       Cu       Pb       Zn   Thickness
        (m)      (m)    (g/t)    (g/t)      (%)      (%)      (%)         (m)
    -------------------------------------------------------------------------
     53.04    54.13     0.95    30.17     0.03     0.02     0.07        1.10
    -------------------------------------------------------------------------

    Drill hole Thor-43 (-65 degrees) was drilled from the same setup as
Thor-42 and intersected the down-dip extension of the TFZ.

    -------------------------------------------------------------------------
     Thor-43
    -------------------------------------------------------------------------
      From       To       Au       Ag       Cu       Pb       Zn   Thickness
        (m)      (m)    (g/t)    (g/t)      (%)      (%)      (%)         (m)
    -------------------------------------------------------------------------
     47.24    50.29     0.29    23.26     0.02     0.65     1.23        3.05
    -------------------------------------------------------------------------

    Drill hole Thor-42 (-85 degrees) was also drilled from the same setup and
demonstrated that the TFZ remains open down-dip.

    -------------------------------------------------------------------------
     Thor-44
    -------------------------------------------------------------------------
      From       To       Au       Ag       Cu       Pb       Zn   Thickness
        (m)      (m)    (g/t)    (g/t)      (%)      (%)      (%)         (m)
    -------------------------------------------------------------------------
     55.17    56.39     1.78    65.58     0.12     0.99     1.88        1.22
    -------------------------------------------------------------------------


    Section 80m South

    Drill hole Thor-45 (-45 degrees) was drilled on the southernmost extension
of the TFZ and intersected a thin, but very high-grade intercept. Thor-46 (-65
degrees) drilled from the same setup failed to intersect any significant
mineralization.

    -------------------------------------------------------------------------
     Thor-45
    -------------------------------------------------------------------------
      From       To       Au       Ag       Cu       Pb       Zn   Thickness
        (m)      (m)    (g/t)    (g/t)      (%)      (%)      (%)         (m)
    -------------------------------------------------------------------------
     36.52    37.04     5.49   577.09     0.40    13.83     3.80        0.52
    -------------------------------------------------------------------------
    

    John Gardiner, President and CEO of Taranis states, "The results of these
drill holes drilled on the periphery of the TFZ indicate that that the zones
of massive sulphide found at Thor are prone to structural dislocation, folding
(including thickening and thinning) similar to other deformed Volcanogenic
Massive Sulphide deposits. These are important exploration guidelines that can
be used to find other zones at Thor during the 2008 drilling program."
    Analytical work was completed by the AccurAssay Laboratories in Thunder
Bay, Ontario that is accredited to Standards Council of Canada, Scope of
Accreditation 434 (conforms with requirements of CAN-P-4D (ISO/IEC 17025), and
CAN-P-1579). Drill core is logged on-site and is sawed in half for analysis.
One half is retained for geologic records and further assay verification if
required. Exploration activities on the Thor property were overseen by John
Gardiner (P. Geol.) and Jim Helgeson (P. Geo.), both Qualified Persons under
the meaning of Canadian National Instrument 43-101.

    About Taranis Resources Inc.

    Taranis currently has 14,847,008 shares issued and outstanding
(16,530,376 shares on a fully-diluted basis).

    TARANIS RE

SOURCES INC. Per: John J. Gardiner (P. Geol.), President and CEO The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

For further information:

For further information: For Investor Relations, contact: John Gardiner,
14247 West Iliff Avenue, Lakewood, Colorado, Phone: (303)-716-5922 or
(720)-209-3049, info@taranis.us; George Kent, 130 Carlton Street, Toronto,
Ontario, Phone: (416)-323-0783, georgerkent@sympatico.ca

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