Taranis Resources Surface Grab Sampling at Thor Returns 2,281.24 g/t Silver, 10.79 g/t Gold



    LAKEWOOD, CO, Oct. 29 /CNW/ - Taranis Resources Inc. ("Taranis") (TSX.V:
TRO) reports further to its News Release dated 10/24/2007, that it has
completed a total of 60 diamond drill holes (5,378 m) on the Thor Property
B.C. in a number of different areas. Drilling has been completed within the
True Fissure Zone ("TFZ"), and along extensions of the zone both to the north
(Section 330m North) and to the south (Section 330m South) as shown on the
accompanying map available at www.taranisresources.com. Massive sulphide
("MS") and/or quartz-sulphide ("QS") mineralization occurs within the Combined
Metals Unit ("CMU"), a laterally extensive horizon enriched in precious and
base metals. The property was also gridded and surveyed by electromagnetic and
magnetic methods in 2007.
    Taranis owns a 100% (no encumbrances) interest in the Thor Property which
was acquired in 2006 after due-diligence that demonstrated significant
precious and base-metal mineralization over a strike length of 1.4 km (News
Release dated 11/16/2006). The following tables summarize surface grab
sampling (north to south) from a number of zones that were not drilled this
summer owing to difficult access and a short season.

    St. Elmo Mine (Section 350m North)

    Precious and base metal values are hosted within both massive and in
quartz sulphide breccia of the CMU.

    
                 ------------------------------------------------------------
                     Au        Ag        Cu       Pb (%)     Zn       Rock
                    (g/t)     (g/t)      (%)                 (%)      Type
                 ------------------------------------------------------------
                     2.334  2,212.41      1.12     13.56     35.27        MS
                 ------------------------------------------------------------
                     2.695  1,749.96      0.50      1.80      2.07        QS
                 ------------------------------------------------------------
                     1.456  1,865.75      1.17     11.20     32.47        MS
                 ------------------------------------------------------------
                     1.576  1,894.08      1.19     11.56     23.49        MS
                 ------------------------------------------------------------
                     4.876  2,281.24      1.12     15.33     12.81        MS
                 ------------------------------------------------------------
                     2.246     492.2      0.03      2.01      0.24        QS
    -------------------------------------------------------------------------
    Min              1.456    492.20      0.03      1.80      0.24
    -------------------------------------------------------------------------
    Max              4.876  2,281.24      1.19     15.33     35.27
    -------------------------------------------------------------------------
    Average          2.531  1,749.27      0.86      9.25     17.73
    -------------------------------------------------------------------------

    Water-Box Zone (Section 350m North)

    A newly discovered zone located on a hillside was found between the St.
Elmo and Blue Bell Mines. Mineralization occurs within the CMU in both massive
sulphide and quartz-sulphide breccia.

                 ------------------------------------------------------------
                     Au        Ag        Cu       Pb (%)     Zn       Rock
                    (g/t)     (g/t)      (%)                 (%)      Type
                 ------------------------------------------------------------
                     2.924    773.56      0.24     16.33      2.79        MS
                 ------------------------------------------------------------
                      3.08    267.85      0.07      0.99      0.12        QS
                 ------------------------------------------------------------
                     2.239    913.67      0.96      2.10     11.19        QS
                 ------------------------------------------------------------
                    10.786    378.65      0.03     15.23      5.71        QS
                 ------------------------------------------------------------
                     3.958    342.29      0.06      9.95      2.09        MS
    -------------------------------------------------------------------------
    Min              2.239    267.85      0.03      0.99      0.12
    -------------------------------------------------------------------------
    Max             10.786    913.67      0.96     16.33     11.19
    -------------------------------------------------------------------------
    Average          4.597    535.20      0.27      8.92      4.38
    -------------------------------------------------------------------------


     Back-Breaker (Section 180m North)

    The Back-Breaker Zone lies between the north end of the TFZ and the Galena
Pocket Zone. It is part of the CMU, with both massive sulphide and
quartz-sulphide breccia zones identified.

                 ------------------------------------------------------------
                     Au        Ag        Cu       Pb (%)     Zn       Rock
                    (g/t)     (g/t)      (%)                 (%)      Type
                 ------------------------------------------------------------
                     0.218    230.02      0.04      2.58      0.26        QS
                 ------------------------------------------------------------
                     0.246     15.07      0.11      0.27     10.51        QS
                 ------------------------------------------------------------
                     0.767    348.28      0.29     14.04     17.49        MS
    -------------------------------------------------------------------------
    Min              0.218     15.07      0.04      0.27      0.26
    -------------------------------------------------------------------------
    Max              0.767    348.28      0.29     14.04     17.49
    -------------------------------------------------------------------------
    Average          0.410    197.79      0.14      5.63      9.42
    -------------------------------------------------------------------------


    Galena Pocket Zone (Section 140m North)

    This area discovered in 2007 exposes the CMU. The first sample is
quartz-sulphide breccia and the 2nd and 3rd are massive sulphides. Sampling
demonstrates that quartz-sulphide breccia is enriched in Au, while the massive
sulphide is enriched in Au, Ag, Cu, Pb and Zn.

                 ------------------------------------------------------------
                     Au        Ag        Cu       Pb (%)     Zn       Rock
                    (g/t)     (g/t)      (%)                 (%)      Type
                 ------------------------------------------------------------
                     4.365     22.12      0.02      0.09      0.01        QS
                 ------------------------------------------------------------
                     2.537    348.97      0.11     12.42     19.25        MS
                 ------------------------------------------------------------
                     3.684    175.32      0.22     10.64      5.49        MS
    -------------------------------------------------------------------------
    Min              2.537     22.12      0.02      0.09      0.01
    -------------------------------------------------------------------------
    Max              4.365    348.97      0.22     12.42     19.25
    -------------------------------------------------------------------------
    Average          3.529    182.14      0.12      7.72      8.25
    -------------------------------------------------------------------------


    Ridgeline Zone (Section 150m South)

    The Ridgeline Zone occurs between the TFZ and the Great Northern Zone, and
is poorly exposed. The area is highly graphitic, and hosts numerous
quartz-rich pods enriched in silver. Its relationship to the CMU is as yet
unknown.

                 ------------------------------------------------------------
                     Au        Ag        Cu       Pb (%)     Zn       Rock
                    (g/t)     (g/t)      (%)                 (%)      Type
                 ------------------------------------------------------------
                     0.201      54.7      0.02      0.56      0.07        QS
                 ------------------------------------------------------------
                     0.023       5.7      0.00      0.08      0.03        QS
                 ------------------------------------------------------------
                     0.012      2.99      0.00      0.02      0.02        QS
                 ------------------------------------------------------------
                     0.112      33.1      0.01      0.35      0.02        QS
                 ------------------------------------------------------------
                     0.113      3.81      0.00      0.03      0.01        QS
                 ------------------------------------------------------------
                     0.007      1.89      0.00      0.01      0.02        QS
                 ------------------------------------------------------------
                     0.051      3.29      0.00      0.01      0.01        QS
                 ------------------------------------------------------------
                     0.238     13.68      0.01      0.22      0.02        QS
                 ------------------------------------------------------------
                     0.609    131.17      0.05      0.71      0.11        QS
                 ------------------------------------------------------------
                     0.123    435.47      0.01     11.01      0.03        QS
    -------------------------------------------------------------------------
    Min              0.007      1.89      0.00      0.01      0.01
    -------------------------------------------------------------------------
    Max              0.609    435.47      0.05     11.01      0.11
    -------------------------------------------------------------------------
    Average          0.149     68.58      0.01      1.30      0.03
    -------------------------------------------------------------------------
    


    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). The certification also complies with the Standards Council of
Canada (CAN-P-1579). Grab sampling is conducted by collecting representative
samples at surface, and hand specimen descriptions are then completed for each
of the samples accurately documenting the mineralogy and other characteristics
of the samples. A hand-held GPS is used to locate the samples in the field.
Exploration activities on the Thor Property were overseen by John Gardiner (P.
Geol.) and Jim Helgeson (P. Geo.), are both Qualified Persons under the
meaning of Canadian National Instrument 43-101.

    About Taranis Resources Inc.

    Taranis is a precious metal resource company that owns 100% interests in
three regions: 1) Three properties in Nevada, including Midway East, Tybo West
and Pioche. 2) The advanced-stage Kettukuusikko property located in Lapland,
Finland, that was explored and explored and drilled in 2007 by Taranis and
Royal Gold, Inc. of Denver and 3) The Thor property located in British
Columbia. Taranis currently has 14,847,008 shares issued and outstanding
(17,256,626 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

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