Typhoon Exploration Inc.
TSX VENTURE : TYP

Typhoon Exploration Inc.

June 23, 2010 10:33 ET

The Typhoon-Aurizon Tandem Begins $3.5 Million Worth of Exploration Work on the Fayolle Project

LAVAL, CANADA--(Marketwire - June 23, 2010) - Typhoon Exploration Inc. (TSX VENTURE:TYP) announces that the technical committee of the Typhoon Exploration and Aurizon Mines tandem is beginning a series of exploration work worth approximately $3.5 million on the Fayolle Project.

A prospecting phase followed by stripping, grooving and mapping is underway.

A drilling campaign will start in July in order to complete 15,000 meters of drilling by the end of 2010.

About Typhoon:

The metallogenic context of the Fayolle project is favourable to the existence of porphyry-type gold mineralization. The mineralized zones on the Fayolle Deposit are distributed along a major shear corridor of approximately 2.5 km long by 1 km wide, all while remaining open at depth. The property contains inferred mineral resources totaling 113,000 ounces of gold, which have been delineated to date down to 100 meters on the Fayolle property at a grade of 1.6 grams of gold per tonne using a cutoff grade of 0.5 grams per tonne (Reference: «Mineral Resources Evaluation of the Fayolle Gold Deposit / 43-101 Technical Report» dated February 21, 2007, available on SEDAR). Higher gold grade intervals in the range of 10 to 40 grams per tonne have been encountered over 3 to 30 meters during previous drilling. Typhoon estimates that any future mine developments at Fayolle will be at low cost due to its strategic location.

In order to optimize resources two drills will be allocated on the Fayolle Deposit, while the remaining drills work on priority targets along the 2.5 km corridor.

Typhoon exploits Quebec's excellent mineral potential and favourable investment climate for the development of new world-class gold deposits, and is proud to count on reputable partners such as Agnico-Eagle Mines Ltd. and Aurizon Mines Ltd. Their support, as well as that of its 2,197 investors (which hold 14,105,876 shares), contributes greatly to the success of the company.

In other news, Typhoon announces that the previously announced $4,100,000 offering with MGI Securities Inc. (Toronto) at a price of $0.82 per share has been cancelled with the consent of both parties. The board of Typhoon Exploration thinks that the cancellation of the offering is in the best interest of its 2,197 investors considering the low number of issued and outstanding shares, the company's good financial situation and the fact that its exploration campaign is already underway.

Mr. Robert Gagnon, P. Geo., Technical Advisor, a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the information in this news release.

The common shares of Typhoon Exploration are listed on the TSX Venture Exchange under the symbol "TYP".

Forward-Looking Statements

This news release contains statements that constitute "forward-looking information" or "forward-looking statements" within the meaning of applicable securities legislation. This forward-looking information is subject to numerous risks and uncertainties, certain of which are beyond the control of Typhoon. Actual results or achievements may differ materially from those expressed in, or implied by, this forward-looking information. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that Typhoon will derive therefrom. Forward-looking information is based on the estimates and opinions of Typhoon's management at the time the information is released and Typhoon does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws. Neither 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 release.

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