Typhoon Exploration Inc.
TSX VENTURE : TYP

Typhoon Exploration Inc.

February 14, 2011 13:26 ET

Typhoon Exploration Inc.: The Drilling Campaign on the Destorbelle Project Is on Schedule

LAVAL, QUEBEC--(Marketwire - Feb. 14, 2011) - Typhoon Exploration Inc. (TSX VENTURE:TYP) announced that its drilling campaign on the Destorbelle Project located in the heart of Abitibi's developing mining projects is on schedule. This drilling campaign is focusing on the area north-west of the Fayolle Deposit.

The Destorbelle Property, in which Typhoon Exploration Inc. and Diamond Frank Inc. each hold a 50% interest, is located less than 8 kilometres west of the Fayolle Deposit, where Typhoon is currently conducting a 50,000 meter drilling campaign. 

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.

STOCK OPTIONS

Typhoon Exploration Inc. granted 570,000 stock options. Of this number, 250,000 have been granted to its managers, 100,000 to its directors and 220,000 to its consultants, at a price of $0.78 per share. The options granted to the consultants will be valid for a 12 month period.

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 will begin shortly 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 is available at the following address: http://media3.marketwire.com/docs/Map_Typ_0214.pdf

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