Typhoon Exploration Inc.
TSX VENTURE : TYP

Typhoon Exploration Inc.

February 15, 2011 11:39 ET

Typhoon Exploration Has Begun a Drilling Campaign on the Aiguebelle-Goldfields Property

LAVAL, QUEBEC--(Marketwire - Feb. 15, 2011) - Typhoon Exploration Inc. (TSX VENTURE:TYP) announces that a drilling campaign on the Aiguebelle-Goldfields Property has begun.

The Property consists of 6 mining claims located in proximity to the Fayolle Property and is some 800 meters west of the Fayolle Deposit. The work most recently carried out on the Property indicates that its geological context is similar to that of the Fayolle Deposit. Intrusive rocks are more abundant and injected into mafic and ultramafic lithologies.

Typhoon has completed a compilation of all previous work at Aiguebelle-Goldfields and has drilled more than 5,000 meters to date.

The drilling campaign on Aiguebelle-Goldfields will focus on the area south-west of the Fayolle Deposit.

NOTE

In collaboration with its partners, Typhoon Exploration Inc. has begun in 2011 two (2) other drilling campaigns along the 35 km of the Porcupine-Destor Fault under its control.

  • On the Fayolle Project with Aurizon Mines Ltd.

  • On the Destorbelle Project with Diamond Frank Exploration Inc.

The drilling campaign on the Fayolle Project features 50,000 meters of drilling and a budget of $6.5 million dollars invested by Aurizon Mines Ltd. This campaign is focused on the lateral and depth extensions of the Fayolle Deposit and will test the NW-SE oriented main deformation corridor, which is 2.5 km long by 1 km wide and open at depth.

Exploration work is being carried out under the supervision of Ressources Lutsvisky Inc. acting as project manager.

QUALITY CONTROL

All drill cores are oriented using Fordia's "Corientr" tool in order to measure their geological structures. Cores are sawn in half, with one part kept as a control and the other being analysed. Assays are performed with standard fire assay procedures and atomic absorption finish. Certified reference material, duplicates and blanks are inserted in the sample sequence for quality control. Primary assaying is performed by ALS Chemex of Val d'Or. The rejects for all samples returning more than 10 grams of gold per tonne are completely pulverized and re-assayed.

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 the information in this news release.

About Typhoon Exploration Inc.

Typhoon Exploration Inc. is a Canadian mineral exploration company focused on developing its portfolio of gold projects near the Val d'Or, Malartic and Rouyn-Noranda gold mining camps in Abitibi, Quebec. The projects are located in one of the world's most prolific gold mining camps within the Abitibi Greenstone Belt along the Destor-Porcupine Fault. Its portfolio of gold projects include: The Fayolle Property (100%-owned by Typhoon), the Faille 1 Property (100%-owned by Typhoon), the Aiguebelle-Goldfields Property (51% owned by Typhoon and 49% owned by Agnico-Eagle Mines) and the Destorbelle Property (50% owned by Typhoon and 50% owned by Diamond Frank Exploration Inc.). All of these projects have historic mining infrastructures and producing mines located in close proximity to the property. The development of the company's properties situated along the profilic Porcupine-Destor Fault will be the primary focus of exploration work for 2011.

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. 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.

Financial Profile:

19,031,753 Shares outstanding

$5 million dollars in cash and carrying no debt

Highlights:

Agreement of  $27 million dollars with Aurizon Mines Ltd. for the development of the Fayolle gold Project located in the heart of Abitibi's developing mining projects

A 50,000 metre drill program has begun 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

Drill program on the Destorbelle Project, located on the prolific Porcupine-Destor Fault and in which Typhoon Exploration Inc. and Diamond Frank Exploration Inc. each hold a 50% interest

A drill program underway on the Aiguebelle-Goldfields Project, located between the Destorbelle and Fayolle projects

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 of Aiguebelle-Goldfields Property is available at the following address: http://media3.marketwire.com/docs/Aiguebelle-Goldfields0215.jpg

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