Taranis Resources Inc. announces Flow-Through Private Placement

2012-06-22

TSX - Toronto Stock Exchange · Gold · Copper · Silver · Uranium · Canada

(via Thenewswire.ca)

Lakewood, Colorado, June 22, 2012 - Taranis Resources Inc. ("Taranis") [TSX.V: TRO] announces a $30,000 private placement, to consist of the sale of 200,000 units at a price of $0.15 per unit, with each unit to consist of one "flow-through" common share and one share purchase warrant, with each warrant to entitle the holder to purchase one common share at a price of $0.25 for a period of two years from closing, provided that, in the event the closing price of Taranis's shares is $0.45 or greater for a period of 20 consecutive trading days, Taranis may give notice of an earlier expiry of the warrants, in which case they would expire 30 calendar days from the giving of such notice.

The proceeds from this private placement, which is subject to regulatory acceptance, will be used to finance a small summer exploration program at Taranis's Thor property in southeastern British Columbia.

Taranis currently has 34,586,655 shares issued and outstanding (41,530,823 shares on a fully-diluted basis).

TARANIS RESOURCES INC.

Per:John J. Gardiner (P. Geol.),

President and CEO

For further information contact:

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.

Taranis Resources Inc. announces Flow-Through Private Placement

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