Typhoon Exploration Inc.

Typhoon Exploration Inc.

May 17, 2006 10:35 ET

Typhoon Presenting at the Richmond Club in Toronto

LAVAL, CANADA--(CCNMatthews - May 17, 2006) - Typhoon Exploration Inc. (TSX VENTURE:TOO) wishes to announce that its President and CEO, Mr. David Mc Donald, and the Company's senior technical advisor, Jean Lafleur, P. Geo., will be presenting at the Richmond Club in Toronto on Wednesday, May 17, 2006.

Typhoon will be presenting the Company's business plan for the next 18 months, latest gold assay results, potential size of the gold system based on the historical work and Typhoon's 71 drill holes, and upcoming exploration program to outline a large gold resource of multi-million ounce levels of gold on its 100% owned Fayolle Project, and the adjacent Aiguebelle-Goldfields Property, where the Company is earning a 51% interest from Agnico-Eagle Mines Ltd.

Typhoon's Fayolle project began in 2003 with an Inferred Resource of 799,600 tonnes grading 6.19 g/t gold for 160,000 gold ounces (technical report by Daniel Gaudreault, 2004, available on www.sedar.com). The challenge for Typhoon remains the building of the gold resources of multi-million ounce levels of gold, based on similar geological, exploration and resource models encountered at the Holloway Deposit (past production and remaining resources of 2.8 million ounces grading over 6.0 g/t gold) and Kiena Deposit (past production and remaining resources of 25.6 million tonnes grading 3.89 g/t gold for 3.2 million ounces of gold) located in the Matheson segment of the Destor-Porcupine Fault, 75 kilometers west of Fayolle, and in the Val-d'Or / Malartic Gold Camp along the Larder Lake-Cadillac Fault, 100 kilometers southeast of Fayolle, respectively. Both faults host the majority of the 175 million ounces of gold produced in the Quebec and Ontario segments of the Abitibi for the past 100 years.

The mineralization trend at Fayolle is east-northeast, and for this reason, Typhoon optioned Agnico-Eagle's Aiguebelle-Goldfields Property. Typhoon now owns or controls an 8 kilometer segment of the prolific Destor-Porcupine Fault, which has produced more than 75 million ounces of gold in the last 100 years. Fayolle consists of a large mineralized envelope, 300 meters (1,000 feet) by 400 meters (1,300 feet) that contains five or more gold corridors, 10 to 20 meters wide, grading between 0.03 to 0.20 oz/t gold from which 28 holes have so far been drilled this year. Within these corridors there are much higher gold grades. They are contained within separate lenses or "Sigma-type jewellery boxes" in two different corridors containing multi-ounce assays in gold:

- FA-05-15 intersected 1.27 oz/t (43.5 g/t) gold over 83 feet (25.0

- FA-06-19 intersected 0.49 oz/t (16,9 g/t) gold over 22.2 feet (6,8

- FA-06-15 intersected 0.79 oz/t (27 g/t) gold over 103 feet (31.5
meters) including 1.25 oz/t (42,7 g/t) gold over 61 feet (18.7

There are lower grades within these corridors. For example, FA-06-12 intersected 2.81 g/t (0.08 oz/t) gold over 51 meters (168.3 feet). FA-06-16 intersected 0.26 oz/t gold over 44 feet and 0.09 oz/t gold over 250 feet - quite a major gold system discovered along the Destor-Porcupine Break. There are at least two high grade gold lenses discovered so far, and at least two more to be drilled. The corridors are open in all directions so that potential volume and grade of the Fayolle mineralization may be increased as a result of future exploration work.

Mr. Jean Lafleur, P. Geo., the Company's senior technical consultant on the Fayolle Property, and his team has worked diligently over the past two years to recognize the potential of the Fayolle gold system. A 20,000 meters drill program is to be initiated in the coming week and will define the full extent of the gold envelope, corridors and lenses between the Fayolle and Aiguebelle-Goldfields gold showings over a 2,300 foot length (700 meters). At Aiguebelle-Goldfields, historical drilling intersected up to 0.14 oz/t gold over 41 feet and 0.23 oz/t gold over 20 feet. The new drilling could potentially create a mineralized body of 15 million tonnes at grades between 2.0 and 6.0 g/t gold.

The potentially mineralized material remains strictly an exploration target in accordance with guidelines established by NI 43-101/2.3, such that the potential quantity of mineralized material is strictly conceptual in nature. There has been insufficient exploration to date to define a mineral resource at this stage between Fayolle and Aiguebelle-Goldfields, and it is uncertain if future exploration will results in the discovery of a mineral resource.

As a result of the work completed since 2004, Typhoon is very encouraged with the workable geological model that can be used to guide future exploration programs. This will become clearer when InnovExplo Inc. of Val d'Or (Quebec) will complete the new geo-statistical resource model for Fayolle.

Typhoon is well underway towards defining a significant gold resource. The Company expects to release additional news in the coming weeks with regards to assay results from holes FA-06-22 to 28; a review of the results to date and their significance; financing; the summer drill program; and the geo-statistical resource model. Hopefully this information will help clarify Typhoon's position at this time in the market, as to what the Company is doing and what is the gold potential.

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

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 has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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