Typhoon Exploration Inc.
TSX VENTURE : TYP

Typhoon Exploration Inc.

March 07, 2008 13:35 ET

Typhoon Closes Private Placement of CDN $ 600,000

LAVAL, QUEBEC--(Marketwire - March 7, 2008) - TYPHOON Exploration INC. ("Typhoon") (TSX VENTURE:TOO) announces the closing of a private placement of CDN $ 600,000. today. Under the terms of this placement, the Company will issue 3,000,000 flow-through common shares 1,090,800 common shares and 1,090,800 warrants.

Each unit sold at a price of $1,000 consists of 5,000 flow-through common shares at a price of $ 0.16 per share, 1,818 common shares at a price of $ 0.11 per share and 1,818 warrants which entitles the holder to subscribe to one common share at a price of $ 0.50 per share no later than March 8 2009. The securities under this private placement will be subject to a four-month and a day hold period expiring on July 8 2008.

For this placement, a commission of 10% of the gross proceeds will be paid as finders' fee.

Typhoon will use 80% of proceeds for exploration work on its properties located in Quebec and the remaining 20% for working capital and general company use.

The drill campaign is progressing as planned on the Fayolle property with 2 diamond drills.

Typhoon Exploration is a mineral exploration Company 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 does not accept responsibility for the adequacy or accuracy of this release.

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