Typhoon Exploration Inc.
TSX VENTURE : TYP

Typhoon Exploration Inc.

November 10, 2010 10:39 ET

Typhoon Exploration Completes a Geochemical and an Airborne Geophysical Survey on the Faille 1 Property

LAVAL, QUEBEC--(Marketwire - Nov. 10, 2010) -

Note to editors : A map of the company's projects is included with this press release

Typhoon Exploration Inc. (TSX VENTURE:TYP) announced today that the Company has completed a geochemical and an airborne geophysical survey on its wholly and exclusively owned Faille 1 Property. The Faille 1 Property is located less than 10 kilometers east of the Fayolle Project where a 15,000 meter drilling campaign is currently underway and is to be completed by December 2010 with a budget of 3.5 million dollars.

"Due to its strategic location, this property allows Exploration Typhoon Inc. to control over 35 km2 of favourable ground along the Destor-Porcupine Fault, this major structure renowned for its gold-bearing mineralization." said David Mc Donald, President and CEO of Typhoon Exploration Inc.

The property is composed of two blocks of mining claims which include 27 cells designated for a total of 11.25 km2. The property 100% owned by Typhoon Exploration Inc. is located in the townships of Cléricy and La Pause in Abitibi, near the extension of the prolific Porcupine-Destor Fault which has historically produced over 80 million ounces of gold.

The work performed involves several glacial (till) and glacial-fluvial (esker) sediment samples collected on the two blocks of the property. The geochemical results will allow to better target potential areas for gold mineralization.

The magnetic geophysical survey will help in highlighting the structures and the contacts within the dissimilar geological units spread over the property. 

The electromagnetic survey will allow evaluating the potential of the property for conductive mineralization which can contain sulphured minerals. It should be noted that the space between the flight lines indicates 100 m for a total of 292 linear km.

The combined results will allow the team of Typhoon Exploration Inc. to plan a drilling campaign on this property with a great potential, who remembered, is located in proximity to the Fayolle Project.

The planning and the interpretation of the glacial sediment survey were entrusted to Mr. Rémi Charbonneau, Ph.D. of the firm Inlandsis, qualified person as per the NI43-101 standard.

The airborne magnetic / electromagnetic survey was performed by the firm Prospectair Inc. of Gatineau.

The interpretation of the geophysical survey was entrusted to Mr. Youcef Ghanem, qualified geophysicist as per the NI43-101 standard.

ABOUT TYPHOON EXPLORATION INC.

Typhoon Exploration Inc. targets Quebec's excellent mineral potential and favourable investment climate for the development of new world-class gold deposits. Typhoon is proud to count on reputable partners, such as Aurizon Mines Ltd, Agnico-Eagles Mines Ltd and the support of its 2,444 investors (holding 19,008,924 shares) contribute greatly to the success of the company.

Typhoon Exploration Inc. has signed an option agreement with Aurizon Mines Ltd. for the development of the Fayolle Project (see press release dated May 18, 2010).

Typhoon Exploration Inc. has over $5 million dollars in cash and carries no debt.

PORTFOLIO OF GOLD PROJECTS

The Fayolle Property: 39 mining claims, (100% owned by Typhoon Exploration Inc.) Aurizon Mines ltd has the option to acquire 65% of the property by investing $27 million dollars. A drilling campaign of 15,000 meters is currently underway, with a budget of 3.5 million dollars.

The Aiguebelle-Goldfields Property: 6 mining claims, (option of 51% owned by Typhoon Exploration Inc. and 49% by Agnico-Eagle Mines) A drilling campaign is planned for the 1st quarter of 2011.

The Destorbelle Property: 24 mining claims, (option of 50% owned by Typhoon Exploration Inc. and 50% by Diamond Frank Exploration Inc.) A drilling campaign is planned for the first quarter of 2011.

The Faille 1 Property: 27 mining claims, (wholly and exclusively owned by Typhoon) The exploration works are in progress and your company is very optimistic about the future of this project.

The Monexco-McCorkill Property: 106 mining claims, (100% owned by Typhoon Exploration Inc.) Compilation works are in progress.

All these projects are under the supervision of Typhoon Exploration Inc., acting as operator.

UPCOMING

The Fayolle ProjectTyphoon Exploration Inc. and Aurizon Mines Ltd are preparing budgets for exploration and drilling campaign for the year 2011.

In order to increase the pace of drilling, a second drill will be assigned on the Fayolle Project by November 15th, 2010. As for future drills, they will be working on priority targets along the corridor of 2.5 km long by 1 km wide all while remaining open at depth.

The Faille1 Project: The Company is awaiting the results of its exploration work.

Mr. Robert Gagnon, P. Geo. (OGQ), 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.

To view a map of Typhoon's Projects, click here : http://www.marketwire.com/library/20101110-typhoon1109.jpg

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