Taranis Updates Nevada Exploration Activities



    LAKEWOOD, CO, March 11 /CNW/ - Taranis Resources Inc. ("Taranis") (TSX.V:
TRO) has completed 573 m (1,880') of mud rotary drilling in five holes on its
Midway East Project located in Nye County, Nevada.

    Midway East

    Taranis has completed 5 mud rotary holes on its 100%-owned Midway East
Project located in Nye County Nevada. The drilling program tested a number of
magnetic features commonly associated with alteration in epithermal gold
deposits. All of the drill holes intersected Tertiary-age felsic volcanic
rocks at relatively shallow depth (30-70 m below surface), but none of the
drill holes intersected ore-grade precious metal mineralization. No further
work will be conducted at Midway East and Taranis will focus its activities on
its other Nevada projects.

    Needles

    Taranis retains a 2% NSR on the Needles Project, and owns 2M shares in
Excalibur Resources Ltd. (CNQ: EXBR), which recently announced drill results
at the Needles Project, Nye County, Nevada. The most interesting drill hole is
Needles-63 which was drilled adjoining the Arrowhead Mine, and outlined
2.34 g/t Au and 721.69 g/t Ag over 4.30 m (true thickness). Drilling is
ongoing at Needles for a planned 1,500 m exploration program.

    
    -------------------------------------------------------------------------
    Needles-63
    -------------------------------------------------------------------------
    From           To         Interval       Au           Au            Ag
     (m)           (m)          (m)       (g/t)(1)     (g/t)(2)      (g/t)(3)
    -------------------------------------------------------------------------
    25.27         25.54         0.27        0.048        0.039          13.6
    -------------------------------------------------------------------------
    25.54         26.85         1.31        1.928        1.847         967.0
    -------------------------------------------------------------------------
    26.85         27.74         0.89        1.013        0.969         226.0
    -------------------------------------------------------------------------
    27.74         28.35         0.61        3.386        3.574       1,320.0
    -------------------------------------------------------------------------
    28.35         28.96         0.61        7.380        7.400       1,350.0
    -------------------------------------------------------------------------
    28.96         29.57         0.61        0.139        0.110           7.5
    -------------------------------------------------------------------------
    Average                     4.30               2.34               721.69
    -------------------------------------------------------------------------

    1-  Original gold fire assay (30 grams)
    2-  Repeat gold fire assay (30 grams)
    3-  Original silver determination done by ICP, and values (greater than)
        120 ppm determined by XRF
    

    Qualifications

    Analytical work at both Midway East and Needles was completed by American
Assay Laboratories of Reno, Nevada that is accredited to ISO/IEC 17025, and
also has a Certificate of Laboratory Proficiency PTP-MAL, accredited by the
Standards Council of Canada. American Assay Laboratories also participates in
the Society of mineral analysts-Round Robin testing. Drill core at Needles was
logged and cut in half prior to sampling with a rock saw, and one-half is
retained for further investigations if required. Exploration activities on the
Needles property and at Midway East 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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TARANIS RESOURCES INC.

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