Typhoon Exploration Inc.
TSX VENTURE : TYP

Typhoon Exploration Inc.

August 09, 2011 07:30 ET

Typhoon Exploration Confirms Several Gold Zones, Including One Located 2.5 km from the Fayolle Deposit

LAVAL, QUEBEC--(Marketwire - Aug. 9, 2011) - Typhoon Exploration Inc. - (TSX VENTURE:TYP) announces that it has received and interpreted a second set of results from twenty-two (22) drill holes, part of the 2011 exploration campaign. This campaign is carried out on the Fayolle Project, held 100% by Typhoon and on the Aiguebelle-Goldfields property, on which Typhoon Exploration Inc. has an option agreement with Agnico-Eagle Mines Limited in order to acquire 51% of the property. These results exclude all results from drillings completed on and near the Fayolle Deposit, those will soon be announced. The new results allows to confirm the potential of the new gold zone "Vang", located south-west of the Fayolle Deposit and to identify new gold showing, such as one located at more than 2.5 kilometers east of the Fayolle Deposit.

A PROMISING NEW ZONE

On the Fayolle Property, hole FAX-11-34, oriented at 205 degrees, intersected a 36 meter zone grading 1.3 g/t Au between 270 and 306 meters. This highly anomalous zone includes an intersection of 29.9 g/t Au over 1 meter.

Oriented at 250 degrees on the same site and drilled towards the Aiguebelle-Goldfields property, hole FAX-11-32 has produced an intersection of 1.1 g/t Au over 1.0 meter between 327 to 328 meters as well as numerous anomalous values between 247 and 287 meters. For its part, hole FAX-11-36 was drilled in the same direction and has intersected 3.0 g/t Au over 6 meters between 200 and 206 meters and 1.0 g/t Au over 4.0 meters between 209 and 213 meters on the Aiguebelle-Goldfields Property. We remind that these holes are located in the lateral extensions of holes FAX-10-05 and FAX-11-01 which have produced 10.2 g/t Au over 0.7 meter, 0.3 g/t Au over 65 meters and 0.6 g/t Au over 13 meters, (see press releases of February 23 and July 13, 2011).

These results clearly demonstrate the gold potential of the Vang area, which is located at about 600 meters southwest of the Fayolle Deposit and of the entire area extending towards the discovery recently made ΓÇïΓÇïon the Aiguebelle-Golfields Property (see press release dated June 14, 2011).

A PROPERTY DOTTED WITH NEW SHOWINGS

The systematic exploration program on the Fayolle Property continued to generate interesting results. Hole FAX-11-28, intersected the E-W oriented sheared, brecciated and fuschitised komatiite zone as well as the monzodiorite porphyry intrusions intersected in previous drillings (Press Release of July 13, 2011). A gold intersection grading 2.0 g/t Au over 9.0 meters was intersected between 414 and 423 meters. Hole FAX-11-33 intersected the same mineralized unit and graded 1.1 g/t Au over 5 meters between 82 and 87 meters. This rock formation can be correlated between all the holes to form a favorable corridor of 1.5 km ESE-WNW.

Hole FAX-11-26, located at more than 2.5 km east of the Fayolle Deposit, intersected a typical monzodioritic porphyry intrusion revealing a gold intersection of 1.4 g/t Au over 5.0 meters, including 3.6 g/t Au over 1.0 meter. Hole FAX-11-22, located in an unexplored area using CARDS-3D technology from Diagnos, has generated several mineralized intersections between 211 and 253 meters, including one of 1.2 g/t Au over 1 meter, in a highly anomalous interval of 11 meters.

A VERY FERTILE GEOLOGICAL CONTEXT

The exploration campaign has allowed to identify several fertile gold-bearing geological settings on the Fayolle Property. Gold mineralization is found associated with many different geological settings. Zones of fuschitised and sheared breccias similar to those of the Fayolle Deposit were found in several areas. In addition, several monzodiorite intrusives are also carrying gold mineralization, which some are associated with quartz pyrite veins. Finally, gold was found in quartz veins contained in a gabbro intrusion located in the center of the property.

Mr. David Mc Donald, President and CEO of Typhoon Exploration Inc. is particularly pleased with the results of the exploration campaign: "The work carried out to date confirms the gold potential of the whole Fayolle Property. The property still has the possibility for new discoveries as many results will be subject to follow-up works in the coming months."

TABLE OF BEST* RESULTS (Fayolle Property)

Hole
No.
Azimuth Dip Total
length
From
(m)
To
(m)
Length
(m)
Grade
(g/t Au)
FAX-11-26 205 -50 342.0 247.0 252.0 5.0 1.4
FAX-11-28 205 -50 801.0 414.0 423.0 9.0 2.0
incluant 421.0 423.0 2.0 4.7
FAX-11-33 245 -50 379.0 82.0 87.0 5.0 1.1
FAX-11-34 205 -65 456.0 270.0 306.0 36.0 1.3
incluant 298.0 299.0 1.00 29.9
*Holes FAX-11-16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 27, 29, 30, 31, 35, 37 all returned intersections of less than 5 g/t Au*m (metal factor)

TABLE OF THE BEST RESULTS ( Fayolle and Aiguebelle-Goldfields properties)

Hole
No.
Azimuth Dip Total
Length
From
(m)
To
(m)
Length
(m)
Grade
(g/t Au)
FAX-11-32 250 -50 371.4 326.0 330.0 5.0 0.6
FAX-11-36 250 -50 450.0 200.0 206.0 6.0 3.0
209.0 213.0 4.0 1.0

QUALITY CONTROL

All drill cores were oriented using the instrument "CorientR" to measure geological structures observed in core. The drill core is sawed in two, one part being retained as a witness and the second being analyzed. Analyses were performed by standard fire assay with atomic absorption finish. Certified reference materials, field duplicates and blanks are inserted into the sample sequence for quality control purposes. Primary assaying is performed by ALS-Chemex in Val-d'Or. The rejects for all samples returning >10 g/t Au are re-assayed by gravity finish.

ADDITIONAL INFORMATION

The map attached to this press release shows the Fayolle Property's geological context as well as the locations and results of the holes mentioned in this press release.

ABOUT TYPHOON

Typhoon targets the excellent mineral potential and investment climate in Quebec for the development of new world class gold deposits and is proud to count on reputable partners such as Aurizon Mines Ltd. (www.aurizon.com). Their support, as well as that of its investors contributes greatly to the success of the company.

QUALIFIED PERSONS

Mr. Robert Gagnon, P. Geo. (OGQ) of Typhoon Exploration Inc. and Mr. Daniel Gaudreault Eng., Geo (OIQ) of Geologica Groupe-Conseil Inc. are the Qualified Persons as defined by National Instrument 43-101 to supervise the preparation of this press release.

The common shares of Typhoon Exploration Inc. 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.

Financial Profile:

19,905,657 Shares outstanding

Highlights:

Typhoon's Annual Special Assembly will be taking place on August 31, 2011 at 10h30. We encourage our shareholders to vote upon receipt of the form which will be delivered by mail on the first week of August.

A 50,000 meter drill program is currently underway on the Fayolle Project, with a budget of $6.5 million invested by Aurizon Mines Ltd.

Main deformation corridor of 2.5 km long by 1 km wide and open at depth, on the Fayolle Project.

Winner of the 2010 Entrepreneur of the Year Award (granted by the AEMQ).

Winner of the 2010 e3 Plus Award for Responsible Exploration (granted by the AEMQ)

A map is available at the following address: http://media3.marketwire.com/docs/projet-fayolle.pdf

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.

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