Taranis Resources Updates on Share Disbursement to Matachewan and McChip Shareholders

Taranis Resources Inc., based in Estes Park, CO, has provided an update regarding the distribution of its securities to shareholders of Matachewan Consolidated Mines, Limited and McChip Resources Inc. Matachewan had announced a capital reduction framework to return assets, distributing 10,615,348 Taranis shares to its shareholders at a ratio of approximately 0.7780 Taranis shares per Matachewan share. This included a temporary borrowing of additional shares to fulfill the distribution.

Similarly, McChip Resources outlined plans in September 2025 to liquidate holdings, finalizing a one-time distribution of 17,377,244 Taranis shares by April 21, 2026. Each McChip shareholder was entitled to 2.915598 Taranis shares per McChip share. The distribution resulted in many McChip and Matachewan shareholders becoming Taranis shareholders, potentially influencing market trading volumes.

Taranis has clarified that these distributions are linked to practices of McChip and Matachewan and not to Taranis' business activities. The company continues to focus on its Thor project.