Taranis Resources Intersects 1.26 g/t Au, 274 g/t Ag, 0.19% Cu, 6.51% Pb & 6.89% Zn Over 3.44 m in True Fissure Zone

    LAKEWOOD, CO, Sept. 5 /CNW/ - Taranis Resources Inc. ("Taranis") (TSX.V:
TRO), a Colorado-based resource company with a number of gold and silver
projects in Nevada, British Columbia and Finland, is pleased to provide an
update of its ongoing exploration activities on the Thor Property, British
Columbia.
    Taranis has completed a total of 50 drill holes (2,740 m) in the True
Fissure Zone ("TFZ") drilled on a systematic grid for over 300 m strike
length, although only drill results are available for 10 drill holes at this
time. Precious and base-metal mineralization occurs within a laterally
persistent massive sulphide horizon that has been subject to intense
hydrothermal alteration and folding.
    Taranis owns a 100% interest in the Thor Property which was acquired in
2006 after a 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 limited diamond drilling reported in this News Release
pertains only to only the TFZ, and at least 4 other zones are known at Thor.
    Contemporaneous with diamond drilling on the TFZ, Taranis has undertaken
a series of geophysical and geological surveys aimed at locating other targets
outside of the known gold/base metal bearing lodes. Initial drilling has been
focused on the TFZ in order to delineate and understand the complicated
geology of the property. Drill Holes were drilled westerly from multiple drill
pads normal to strike and dip of the TFZ, and as such the intercepts
approximate the true thickness of the TFZ.

    Section 0m North

    Drill Hole Thor-1 (-45 degrees) was drilled 50m east of the True Fissure
Open Pit and intersected a thin gold-bearing zone that corresponds to the
upper edge of the TFZ.

    
    From      To      Au      Ag      Cu      Pb      Zn      Thickness
     (m)      (m)   (g/t)   (g/t)     (%)     (%)     (%)        (m)
    -------------------------------------------------------------------------
    34.38  34.66    3.04    7.80    0.01    0.03    0.01         0.27
    -------------------------------------------------------------------------

    Drill Hole Thor-2 (-65 degrees) was drilled down from the same setup as
Thor-1 dip and intersected the TFZ down dip of Thor-1.

    From      To      Au      Ag      Cu      Pb      Zn      Thickness
     (m)      (m)   (g/t)   (g/t)     (%)     (%)     (%)        (m)
    -------------------------------------------------------------------------
    29.87  31.70    0.72   86.12    0.14    1.32    4.03         1.83
    -------------------------------------------------------------------------

    Drill Hole Thor-3 (-85 degrees) was drilled to intersect the down dip
extension of Thor-2 and intersected the TFZ, and had extremely high levels of
silver mineralization. (Ag values over 1,000 g/t cut to 1,000 g/t).

    -------------------------------------------------------------------------
    From      To      Au      Ag      Cu      Pb      Zn      Thickness
     (m)      (m)   (g/t)   (g/t)     (%)     (%)     (%)        (m)
    -------------------------------------------------------------------------
    36.64  38.40    1.20  416.66    0.38    5.42    7.48         1.76
    -------------------------------------------------------------------------

    Drill Holes Thor-4 and Thor-5 were drilled down-dip of the above holes and
failed to intersect significant precious or base metal mineralization.

    Section 40m North

    Drill Hole Thor-6 (-45 degrees) was drilled 65m down dip of the True
Fissure Open Pit where channel sampling conducted in 2006 yielded 3.70m of
1.00 g/t Au, 165.29 g/t Ag, 0.14% Cu, 2.47% Pb and 9.18% Zn.
    Thor-6 intersected the same zone at depth and indicates that the zone is
continuously mineralized.

    -------------------------------------------------------------------------
    From      To      Au      Ag      Cu      Pb      Zn      Thickness
     (m)      (m)   (g/t)   (g/t)     (%)     (%)     (%)        (m)
    -------------------------------------------------------------------------
    24.38  27.13    0.37   96.91    0.04    0.67    2.65         2.75
    -------------------------------------------------------------------------

    Drill Hole Thor-7 (-65 degrees) was drilled from the same location as
Thor-6 and intersected the TFZ:

    -------------------------------------------------------------------------
    From      To      Au      Ag      Cu      Pb      Zn      Thickness
     (m)      (m)   (g/t)   (g/t)     (%)     (%)     (%)        (m)
    -------------------------------------------------------------------------
    26.82  28.65    0.27   89.48    0.05    1.47    2.19         1.83
    -------------------------------------------------------------------------

    Drill Hole Thor-8 (-85 degrees) was drilled from the same setups as Thor-6
and 7 and intersected the TFZ.

    -------------------------------------------------------------------------
    From      To      Au      Ag      Cu      Pb      Zn      Thickness
     (m)      (m)   (g/t)   (g/t)     (%)     (%)     (%)        (m)
    -------------------------------------------------------------------------
    33.01  38.40    0.53  118.58    0.08    0.93    2.86         5.39
    -------------------------------------------------------------------------

    Section 80m North

    Chip Sampling in the True Fissure Pit in 2006 in the TFZ yielded 1.30m of
4.45 g/t Au, 488.51 g/t Ag, 0.23% Cu, 2.79% Pb and 2.52% Zn. Drill holes
Thor-9, 10 and 11 were drilled from a location 68m east of the chip sampling
location.
    Drill Hole Thor-9 (-45 degrees) has been drilled and intersected massive
sulphides but the analytical results have not been received.
    Drill Hole Thor-10 (-65 degrees) intersected a wide zone within the TFZ at
depth.

    -------------------------------------------------------------------------
    From      To      Au      Ag      Cu      Pb      Zn      Thickness
     (m)      (m)   (g/t)   (g/t)     (%)     (%)     (%)        (m)
    -------------------------------------------------------------------------
    23.99  27.43    1.26  273.87    0.19    6.51    6.89         3.44
    -------------------------------------------------------------------------

    Drill Hole Thor-11 (-85 degrees) was drilled from the same location as
Thor-9 and 10 and intersected the TFZ at depth.

    -------------------------------------------------------------------------
    From      To      Au      Ag      Cu      Pb      Zn      Thickness
     (m)      (m)   (g/t)   (g/t)     (%)     (%)     (%)        (m)
    -------------------------------------------------------------------------
    29.26  35.36    1.09  104.04    0.13    2.05    2.41         6.10
    -------------------------------------------------------------------------
    

    John Gardiner, President & CEO states "Taranis' drilling has demonstrated
that underground efforts at Thor were limited, and were confined to several
exploration drifts in the TFZ. The initial drilling has shown that virtually
all of the TFZ remains intact. The TFZ zone is very continuous and appears to
exhibit areas where the deposit is thickened. The focus of the remaining
drilling will test the other 4 zones on the Property where some exciting
targets have been identified".

    Line Cutting - Geophysical Surveying

    29.3 km of line cutting has been completed on the property, and a
fixed-loop EM survey has recently been completed (26.9 line km) aimed at
identifying conductive massive sulphide units that host base and precious
metal mineralization on the property. This survey has identified a number of
conductive targets that are currently being interpreted by Quantec Geoscience
and will be tested by diamond drilling in September 2007.
    A surface ground magnetic and electromagnetic VLF survey has also been
completed on the property (29.3 km), and this survey has demonstrated that
massive sulphides are found along a major NNW- striking contact that dips
moderately to the east. A coincident magnetic and electromagnetic anomaly
measuring 700m by 150m has been identified between the Broadview and TFZ and
is a priority exploration target area at this point.
    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). 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.), who 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 active exploration projects: 1) three properties ready for drilling in
Nevada, USA 2) the advanced-stage Kettukuusikko property located in Lapland,
Finland, currently being explored and drilled 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