Lakewood, Colorado, January 2, 2008

Taranis Resources Inc. ("Taranis") [TSX.V: TRO] continues to outline a large precious and base metal bearing deposit found within the Combined Metals Unit ("CMU"), now extending for over 1.6 km in strike length on its Thor property in southeastern British Columbia.

Underground sampling of the Blue Bell (Level 2) in 6 cross-cuts has demonstrated that precious and base metal mineralization extends north of the True Fissure Mine for at least 590m. Additionally, an EM-37 geophysical survey has also identified a strong conductor extending this zone for another 300m north of Section 590m North. Two separate lenses of massive sulphide are found in the CMU at the Blue Bell Mine, and the St. Elmo Mine is believed to be connected to the most northerly section exposed underground in the Blue Bell Level 2, called the Blue Bell North Zone.

Blue Bell North Zone

In contrast to other zones found at Thor, the Blue Bell North Zone is dominated by gold and silver mineralization within a siliceous and tabular massive sulphide deposit. The zone is exposed along strike for 89m underground and consists largely of massive sulphide occasionally exhibiting delicate bands of pyrite, galena and sphalerite.

Section 590m North

Section 590m North is the northern-most end of the Blue Bell underground workings found at Thor. Underground development was not extended beyond this area for unknown reasons over 70 years ago, despite the presence of high-grade mineralization likely correlating with the St. Elmo Mine found further up the mountainside (see Taranis News Release dated October 29, 2007). Chip sampling on Section 590m North at the northernmost point returned high levels of gold and silver mineralization..

Section 547m North

A small cross-cut in this area exposes the Blue Bell North Zone, and chip sampling returned the following values..

Section 517m North

The Blue Bell North Zone was exposed in a small cross-cut and returned the following values.

Section 501m North

The Blue Bell North Zone was chip sampled in another small cross-cut, and returned high levels of copper and precious metals.

Area Between Blue Bell North and South Zones

Section 475m North

A wide crosscut (10 m) exposes the Blue Bell Horizon here, but it is barren. This is believed to be the area that separates the South Blue Bell Zone from the St. Elmo/Blue Bell North Zone..

Blue Bell South Zone

The Blue Bell South Zone is enriched in both base and precious metals. Several intercepts previously reported (see Taranis News Release dated November 16, 2006) for the Blue Bell South Zone in the Upper Blue Bell Adit include 3.03 g/t Au, 129.12 g/t Ag, 0.12% Cu, 1.52% Pb and 5.80% Zn over 3.70 m (cross-Cut 1) and 2.26 g/t Au, 92.69 g/t Ag, 0.12% Cu, 0.96% Pb and 7.49% Zn over 2.3 meters (cross-Cut 2). A raise connects the Upper Blue Bell Adit to the Lower Blue Bell adit, exposing the mineralization for over 60m on the dip-slope and returned� a trace of Au, 60.0 g/t Ag, 0.60% Pb and 39.70% Zn over 0.97 m.

Section 418m North

Underground chip sampling located immediately down-dip of the raise that connects to the Blue Bell Level 1 in the Blue Bell South Zone (Level 2) returned the following values.

Analytical work was completed by 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). Underground chip sampling was undertaken using a hammer and chisel allowing the collection of representative samples normal to the strike and dip of the mineralization.� 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 (17,256,626 shares on a fully-diluted basis).