Taranis Completes Hearings on Naakenavaara 5-14 Exploration Claims

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Lakewood, Colorado, February 4, 2013 - Taranis Resources Inc. ("Taranis") [TSX.V: TRO] is pleased to report that the Finnish Safety and Chemicals Agency has completed public hearings regarding the Naakenavaara 5-14 Exploration Claims adjoining Taranis' active Naakenavaara 1-4 Exploration Claims that have identified widespread, near surface copper mineralization at Naakenavaara. Taranis originally submitted the Naakenavaara 5-14 Exploration Claims to the Finnish Mining authority on June 6, 2010; since that date Taranis has completed 42 drill holes on the Naakenavaara 1-4 Exploration Claims, and has identified a 1 x 3 km area of low-grade, pervasive copper-gold-cobalt-nickel near-surface mineralization.

The Finnish Centre for Economic Development, Transport, Environment, as well as other interested parties, have reviewed Taranis' application in respect of Naakenavaara 5-14 Exploration Claims and will make comments prior to additional public hearings regarding them that are expected to commence shortly.

The Naakenavaara 1-4 Exploration Claims cover an area of 299.2 hectares and were identified after an exhaustive review of copper projects in Northern Finland. Previous explorers on the property include the Geological Survey of Finland and Outokumpu Mining, and exploration was undertaken in the early 1970's when the price of copper was $0.54/lb. The Naakenavaara 5-14 Exploration Claims cover an area of 962.8 hectares and were identified after drilling on the Naakenavaara 1-4 Exploration Claims showed the potential for the area to host similar mineralization within a shallow sedimentary basin underlain by ultramafic rocks. Taranis has completed detailed airborne and ground geophysical surveys over the Naakenavaara area and has identified prospective copper targets far outside of the known area of mineralization and within the 5-14 Exploration Claims.

John Gardiner, President and CEO states "Taranis is very excited about acquiring the additional land at Naakenavaara since our geophysical work has identified some near surface geophysical features that are related to the areas we drilled in 2009-2011. The combined Naakenavaara property will now encompass an area measuring roughly 12 km2, of which only 3 km2 has been tested by diamond drilling, which has yielded very encouraging results."

About Taranis Resources Inc.

Taranis currently has 35,874,989 shares issued and outstanding (43,553,324 shares on a fully-diluted basis).

TARANIS RESOURCES INC.

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

President and CEO

For further information contact:

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|John Gardiner 14247 West |George Kent Suite 1406, 130 |

|Iliff Avenue Lakewood, |Carlton Street Toronto, Ontario|

|Colorado Phone: (303) |Phone: (416) 323-0783 Cell: |

|716-5922 Cell: (720) |(416) 697-0783 |

|209-3049 |georgerkent@sympatico.ca |

|johnjgardiner@earthlink.net| |

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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.

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