Typhoon Exploration Inc.
TSX VENTURE : TYP

Typhoon Exploration Inc.

December 18, 2013 08:30 ET

Typhoon Exploration Inc.: New Discovery 2 km from the Fayolle Deposit Which Extends the Fayolle Project Gold System

LAVAL, CANADA--(Marketwired - Dec. 18, 2013) - TYPHOON EXPLORATION INC. ("Typhoon") (TSX VENTURE:TYP) is pleased to announce positive results from the 2013 channel sampling campaign, from the Cinco exploration TARGET, located 2 kilometers east of the deposit. (see table of channel sampling results)

The gold anomaly called "Cinco area", located 2 kilometers east of the Fayolle Deposit, was the subject of a channel sampling program (18.6 meters) to test the width of the mineralized system. Preliminary prospection has demonstrated a gold bearing footprint of approximately 10,000 m2 composed of chip samples with results over 0.1 gram per ton gold. Rock types including brecciated and strongly altered basalts and komatiites show many similarities with the Fayolle Deposit in terms of alteration and structural setting. This preliminary sampling returned 0.78 grams per ton gold over 13.70 meters including 3.69 grams per ton of gold over 1.8 meters. No drilling has tested this area, which should represent part of the focus of the upcoming exploration drillings from the 2014 winter campaign.

A soil sampling survey of around 500 samples was completed in the Cinco area to help delineate the highest gold potential targets.

Table 1: main results from 2013 channel sampling campaign

Channel Length Au
(m) (ppm)
Cinco zone
R1 13.70 0.78
including 1.80 3.69
including 1.00 1.29
Fayolle Deposit*
R1 1.00 22.10
R1 0.80 16.65
R2 4.40 21.66
R2 0.95 4.83
R3 0.70 6.94
R4 1.00 4.42
R5 1.00 16.40
R6 4.00 12.75
R9 1.00 14.10
R10 1.00 4.90
R15-R16 2.90 27.06
including 1.00 58.30
R27 1.35 41.40
FAX-24-W Trench
1.00 3.06
*cut-off grade of 4 ppm Au

GLOBAL DEVELOPMENT

Exploration works on the Fayolle Project are conducted following cohabitation principles and meaningful engagement of the company toward local stakeholders.

Typhoon has initiated the continuous consultation and collaboration with citizens and public representatives early in the exploration process, facilitated by the opening of an office and coreshack in the Mont-Brun district. A close relationship has been built with the nearby Aiguebelle National Park and the City Hall (Regional Land Use Planning Department), located north of the Fayolle Project. The company considers that it is a priority to develop a close relationship with the Park and the City Hall based on mutual trust and supported by a continuous exchange of information with its administration. At the current exploration stage there are several collaborations underway with the Park, including a wildlife survey. Watershed quality monitoring will also be performed collaboratively as the project moves forward.

Typhoon is considered to be attuned, and in one concerns of opening, we are engaged to sustain the dialogue with the goal to optimize exploration and development works on our properties according to the needs of our living environment.

OUTLOOK

The realization of the proposed surface exploration efforts will provide critical basic information and drill targets leading to increase the property resources basis.

ABOUT TYPHOON EXPLORATION INC.

  • Typhoon Exploration Inc. only has 29,656,791 shares outstanding.
  • The Fayolle Property offers the potential to host important gold resources.
  • Typhoon Exploration Inc. is in an excellent financial position and carries no debts.

For more information, visit the company's website at www.typhoonexploration.com or SEDAR's website at www.sedar.com.

HIGHLIGHTS

  • A Mineral Resource Estimate was completed in 2012 for the Fayolle Deposit and its resources transferred from the
    inferred category to the indicated category. (see press release dated September 6th, 2012)

  • A Preliminary Metallurgical Study of the gold recovery rate was completed in 2012 on the Fayolle Deposit and indicated
    an average gold recovery rate of more than 94%. (see press release dated October 30th, 2012)

  • A Positive Preliminary Economic Assessment Study (PEA) was completed on the Fayolle Deposit in 2013. (see press release dated April 9th, 2013)

THE COMPANY OWNS THE FOLLOWING PROJECTS:

  • Fayolle Project, 100%-owned by Typhoon Exploration Inc. / Rouyn-Noranda region (See agreement with Hecla Quebec Inc. in press release dated May 18, 2010)
  • Faille 1 Project, 100%-owned by Typhoon Exploration Inc. / Rouyn-Noranda region
  • Monexco Project, 100%-owned by Typhoon Exploration Inc. / Chibougamau region
  • Nordair Project, 100%-owned by Typhoon Exploration Inc. / James Bay region
  • Aiguebelle-Goldfields Project, 51%-owned by Typhoon and 49%-owned by Agnico-Eagle Mines Limited / Rouyn-Noranda region
  • Destorbelle Project, 50%-owned by Typhoon and 50%-owned by Axe Exploration Inc. / Rouyn-Noranda region

QUALIFIED PERSON

Mr. Daniel Gaudreault, ing., Geo. (OIQ), of Géologica Groupe-Conseil, is the Qualified Person 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 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.

A map is available at the following address: http://media3.marketwire.com/docs/918433a.pdf

Contact Information