Typhoon Exploration Inc.
TSX VENTURE : TYP

Typhoon Exploration Inc.

September 01, 2009 13:15 ET

Typhoon Plans a Complete Geoscientific Synthesis on the Fayolle Property and Closes a Private Placement

LAVAL, QUEBEC--(Marketwire - Sept. 1, 2009) - Typhoon Exploration Inc. (TSX VENTURE:TYP) has commissioned Geologica Inc. of Val-d'Or (Quebec) to complete a geoscientific compilation of all available data on its Fayolle property.

The study concerns all the geological, geophysical, geochemical and diamond drilling data recovered from reports between 1946 and now. This study began in April 2009.

This synthesis is realized in 8 phases and consists of:

1) Validation and verification of all the data available;

2) Classify and list the information into numerical format;

3) Printing of geoscientific data on color plans and sections;

4) Geological interpretation (lithology, structure, mineralization) from surface surveys and diamond drill hole sections with plans and known mineralized occurrence locations;

5) 2D and 3D modelling on Gocad software;

6) Selection of future exploration targets;

7) Compilation Power Point preparation and presentation;

8) NI 43-101 synthesis and technical evaluation report with work recommendations and budget.

The 23,14 km2 surface area of the Fayolle Property hosts several new exploration potential targets and metallotects (structural, stratigraphic and thermodynamic), which are underlined and revealed from the 3D data, integrated global view.

All the work realized by Typhoon Exploration inc. in the last 6 years consists of:

1) Overall property cut line grids;

2) Airborne magnetic survey;

3) IP-Resistivity surveys in the deposit area;

4) Detailed IP survey in the Destorbelle area;

5) Soil humus survey on the whole property by IOS;

6) Geological reconnaissance survey with lithogeochemical sampling;

7) Outcrop stripping, detailed mapping and channel sampling on the Fayolle Deposit;

8) Outcrop stripping, mapping and sampling in the eastern extension of the Vang showing;

9) 2007-2008 local and partial compilation with 3D Gocad modelling leading to the discovery of the Mc Donald mineralized zone located 450 meters SE of the Fayolle deposit;

10) Categorized Mineral Resource Calculation in 2007 (see the web site www.explorationtyphon.com);

11) Three (3) structural studies (1 by InnovExplo in 2006 and 2 by Earthmetrix using Landsat lineament interpretation);

12) Complete and detailed review of all previous drill core and logs in order to harmonize lithological data with recent drill information;

13) A total of 169 DDHs (46,682 metres) completed on the property of which twenty (20) on Agnico-Eagle's Aiguebelle-Goldfields (2,54 km2) option, seven (7) DDHs in the Destorbelle area and 142 DDHs in the Fayolle deposit area including 26 on the recently found Mc Donald gold zone;

14) Some key diamond drill holes were selected for diagraphic studies in the heart of the Fayolle deposit.

During the last six (6) years, the diamond drilling realized by Typhoon has permitted to define very significant auriferous mineralizations on the Fayolle property. Several mineralized drill intersections, some of which are spectacular, are presented in the herebelow table:



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Hole From (m) To (m) Length (m) Au (g/t) / m
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FA-04-01 155.00 169.70 14.70 4.26 / 14.7
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FA-04-02 54.25 60.50 6.25 14.56 / 6.25
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FA-04-03 21.00 25.29 4.29 9.64 / 4.29
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FA-04-04 142.00 151.05 9.05 6,37 / 9,05
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FA-04-05 142.00 150.00 8.00 3,56 / 8,00
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FA-04-09 15.00 22.60 7.60 12,95 / 7,6
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FA-05-03 182.00 189.00 7.00 6,01 / 7,0
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FA-05-10 140.00 144.00 4.00 9,69 / 4,0
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FA-05-15 28.00 53.10 25.10 43,50 / 25,10
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FA-05-20 24.00 28.30 4.30 10,87 / 4,3
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FA-05-22 23.20 28.90 5.70 6,17 / 5,7
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FA-05-23 28.30 34.00 5.70 10,70 / 5,7
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FA-05-27 5.50 25.00 19.50 5,21 / 19,5
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FA-05-28 19.50 31.50 12.00 14,87 / 12,0
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FA-06-02 51.00 56.50 5.50 4,25 / 5,5
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FA-06-03 225.00 229.50 4.50 5,99 / 4,5
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FA-06-04 18.00 34.50 16.50 3,71 / 16,5
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FA-06-12 65.00 78.00 13.00 8,43 / 13,0
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FA-06-15 10.00 41.50 31.50 27,0 / 31,5
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FA-06-16 9.00 19.70 10.70 6,11 / 10,7
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FA-06-19 23.00 36.40 13.40 9,00 / 13,40
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FA-06-20 37.00 62.00 25.00 3,00 / 25,0
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FA-06-22 64.00 69.00 5.00 9,67 / 5,0
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FA-06-27 44.50 52.50 8.00 25,04 / 8,0
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FA-06-31 70.90 100.50 29.60 4,10 / 29,60
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FA-07-20 282.00 286.00 4.00 3,39 / 4,0
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FA-07-24 105.00 145.00 40.00 4,33 / 40,0
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FA-07-27 77.00 95.00 18.00 4,89 / 18,0
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FA-08-11 34.40 39.50 5.10 3,59 / 5,1
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FA-08-13 147.00 166.00 19.00 10,84 / 19,0
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FA-08-15 227.00 234.00 7.00 4,26 / 7,0
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FA-08-17 125.00 135.00 10.00 7,81 / 10,0
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FA-08-19 23.00 35.00 12.00 2,51 / 12,0
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FA-08-32 39.00 47.00 8.00 3,8 / 8,0
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FA-08-33 72.50 74.50 2.00 4,79 / 2,0
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First results of the compilation shows that the mineralized zones or lens of the Fayolle deposit, the Mc Donald, Vang, Quebelle, Destorbelle and Aiguebelle-Goldfields would be located at the interface or in the low and high magnetic susceptibility transition zones which correspond to altered komatiites and/or tuff horizons. The mineralized zones are generally associated with E-W, N-S, NE-SW and NW-SE structural lineaments. The figure herebelow (available at the following address: http://media3.marketwire.com/docs/typhoon_fig1eng.pdf) shows this relation between low-high susceptibility transitions and associated mineralized zones.

This type of association is common to the ones recognized in the famous Cadillac-Larder Lake and Destor-Porcupine Tectonic zones, which are host to several gold occurrences, recent and present deposits and past producers such as Kerr-Addison (10,457,000 oz of gold between 1938 and 1996), Holloway (4.9M metric tonnes grading 5.9 g/t Au) and Barnat South zone of Osisko Mining Corporation with inferred resources of 36.3 million tonnes at 1.74 g/t Au for a total of 2.03 million ounces of gold (From Osisko web site www.osisko.com). Faulted juxtapositions of mafic and ultramafic volcanic lithological units are intruded by felsic to intermediate porphyric dyke networks, which are associated with intense albitization and ankeritisation. The figure herebelow shows, in the Fayolle deposit, the relation between porphyritic dyke networks and auriferous mineralizations.

The Fayolle deposit of Typhoon Exploration shows several geological characteristics such as rock type, alteration, structural associations, which are commonly found at the hereabove previously cited known gold deposits and producers. The Fayolle auriferous mineralization is:

1) Associated at the contact between mafic basalts and ultramafic (komatiites) units just like at Kerr Addison and Holloway. The other mineralized occurrences on the property (Destorbelle, Vang, Mc Donald, Quebelle, Aiguebelle-Goldfields, Victoria et Hard Rock) including Fayolle are located at the interface between low and high Mag susceptibilities, which are marked by a strong magnetic contrast and generally hosted within intensely altered komatiites and basalts;

2) At Kerr-Addison, the mineralization is associated with intense albitization and the host rock is injected with albitite dykes, which have also been identified on the Fayolle property. These dykes can reach several metres of true width and generally porphyritic in feldspar;

3) Fuschite is another important mineral, which is observed to be associated with the mineralization, and a common pathfinding marker found at Holloway (footwall komatiite), at Kerr-Addison and with all the mineralized zones on the Fayolle Property. Often, sericitization is an observed alteration found in the Destor-Porcupine Tectonic zone.

Fig. 2, available at the following address: http://media3.marketwire.com/docs/typhoon_fig2eng.pdf

Up to now, the first 4 phases of the compilation are completed and the fifth step, which consists of interpretation and 3D modelling, is started in respect of the planned schedule. The final synthesis and technical report will be ready with work recommendations and budget by October. Phase 5 of the compilation (Gocad 3D modelling) is being completed by Francine Fallara (URSTM - UQAT) and will permit to characterize the mineralization to orient future exploration efforts and focus.

The Fayolle property is located in the Rouyn-Noranda mining camp. It overlies the famous Destor-Porcupine Tectonic zone, which is host to several well-known gold deposits (past and present producers). Typhoon Exploration's Fayolle Property is located along 8 kilometres of this favourable deformation corridor, which runs from eastern Ontario across western Quebec in Abitibi. The past months have witnessed the arrival of new and important players such as Osisko Mining Corporation and Midland Exploration on the nearby (1.2 km east of Fayolle) Dunn property. The Dunn project lies along the Manneville Fault, which is a conjugate structure of the Destor-Porcupine Tectonic zone or Deformation corridor (see Press Release of Osisko, August 11th, 2009).

With favourable economic and gold price conditions, Typhoon Exploration will consider the realisation of a scoping study on the Fayolle deposit and ramp to complete a bulk sample for metallurgical recovery tests and thematic studies. In 1987, previous property owners (Cristobal Resources) had contemplated such an approach using the herebelow ramp access design.

Fig. 3, available at the following address: http://media3.marketwire.com/docs/typhoon_fig3eng.pdf

The Fayolle deposit contains 848,600 tonnes at 1.4 g/t Au (Indicated resources) and 6,568,600 tonnes at 0.7 g/t Au (Inferred resources) for a total of 188,000 ounces of gold (press Releases January 19th and February 21st, 2007).

Private placement

Typhoon Exploration has just closed a private placement of $200,000. This placement consist of issuing of units at the price of $1,000. Each unit includes of 6,667 flow-through shares, 1,666 common shares and 1,666 warrants. Each warrant grants the right to purchase one common share at the price of $0.15 per share until 18 months after closing. Moreover, the warrants will be subject to a forced exercise provision, providing that if the closing price of Typhoon's shares is $0.20 or greater for a period of 10 consecutive trading days, then the holders will have 30 days to exercise their warrants, otherwise the warrants will expire on the 31st day. The placement is subject to the TSX Venture Exchange final approval.

These securities will be subject to a four-month and 1 day holding period. This non-brokered private placement was realized with accredited investors, friends, management and directors. Under the terms of this placement, the Company will issue 1,333,400 flow-through shares, 333,200 common shares and 333,200 warrants.

Granting of options of share acquisitions

The last press release of August 12, 2009, we should have read "August 11th, 2019" for the share options expiry date.

Mr. Daniel Gaudreault, P. Eng. Geo. (OIQ), is the Qualified Person (QP), has prepared this Press Release in conformity with NI 43-101.

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

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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