Typhoon Exploration Inc.
TSX VENTURE : TYP

Typhoon Exploration Inc.

January 18, 2008 10:44 ET

Typhoon Exploration Announces the Distribution of 2,000,000 Common Shares of Diamond Frank Exploration

LAVAL, QUEBEC--(Marketwire - Jan. 18, 2008) - Typhoon Exploration inc. ("Typhoon")(TSX VENTURE:TOO) is pleased to announce the declaration of a dividend consisting in 2,000,000 common shares of Diamond Frank Exploration Inc. ("Diamond Frank").

Typhoon will distribute 2,000,000 common shares of Diamond Frank, subject to adjustments, to the shareholders of Typhoon. Each shareholder of Typhoon registered on the record date on January 28, 2008 will receive one (1) Common Share of Typhoon for approximately 41 common shares or Typhoon held.

On December 21, 2007, the TSX Venture Exchange (the "Exchange") conditionally approved the listing of the common shares of Diamond Frank.

On December 31, 2007, Diamond Frank accepted subscriptions for a total of $1,823,000 in payment of 1,446 units "A" at a price of $1,000 per unit "A" and 370 units "B" at the price of $1,000 per unit "B", pursuant to a final prospectus dated December 21, 2007.

Each unit "A" offered at a price of $1,000 comprised 2,286 common flow-through shares at the price of $0.35 per share and 1,333 common shares at a price of $0.15 per share. Each "B" unit offered at a price of $1,000 comprised 6,667 common shares at the price of $0.15 per share and 6,667 warrants, each warrant entitling its holder to subscribe for one (1) common share at the price of $0.15 for a period of 24 months.

In addition, on December 31, 2007, Typhoon transferred in favour of Diamond Frank the diamond exploration Properties Ikirtuuq and Wapiscan in consideration for 2,000,000 common shares of Diamond Frank, at a deemed price of $0.15 per share.

It is anticipated that the negotiations on the common shares of Diamond Frank will begin on the Exchange on January 24, 2008 under the trading symbol DOD.

The certificates representing the common shares of Diamond Frank that the shareholders of Typhoon will be entitled to receive on the closing date are to be mailed around February 4, 2008. The shareholders of Typhoon should contact with their brokers with respect to their shares of Diamond Frank.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those in these "forward-looking statements". The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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