Typhoon Exploration Inc.
TSX VENTURE : TYP

Typhoon Exploration Inc.

March 08, 2011 09:00 ET

Typhoon Exploration Inc. Welcomes Jean-Pierre Thomassin in its Management Team

LAVAL, QUEBEC--(Marketwire - March 8, 2011) - Typhoon Exploration Inc. (TSX VENTURE:TYP) is pleased to announce the nomination by the board of directors in its management team of Mr. Jean-Pierre Thomassin, MBA, as vice-president, corporate development.

Mr. Thomassin will be responsible for corporate development, business intelligence and strategic planning at Typhoon. He will implement new communication strategies with actual and potential shareholders and the financial community. He will make sure that Typhoon keeps on implementing the e3 Plus framework for responsible exploration and the e3 Plus certification.  He will be involved in developing a positive relationship with local communities in order to make Typhoon a model in sustainable development in the mineral exploration sector. He will be based in Rouyn-Noranda.

Mr. Thomassin is very well known in the Quebec mineral exploration community, since he has been the head of the Quebec Mineral Exploration Association (AEMQ) during the last six years. Under his management, AEMQ has acquired a national fame and experienced a significant growth. The Québec Exploration event, co-organized by the AEMQ, is now the third largest mineral exploration show in Canada.

Mr. Thomassin has obtained degrees in applied sciences (B. Sc. App.) and business administration (MBA). He has worked in the financial sector for 22 years in industrial and commercial financing, business intelligence and strategic planning. He also spent twelve years in the mineral exploration sector. He is a member of the board of directors of l'Institut national des mines du Québec and the Refuge Pageau.

Typhoon's CEO and President, Mr. David McDonald has mentioned that he is very satisfied to have been able to convince Mr. Thomassin to change an early retirement decision to join Typhoon's management team. «The arrival of Mr. Thomassin represents an important step in the development of our company.  His long experience, his expertise in communication and mostly, his passion for the mineral exploration sector and the Abitibi area will bring a new dynamic in the Typhoon's team».  For his part, Mr. Thomassin is very much honored: « Typhoon Exploration has a very strong financial situation. The company has developed business relations with major partners in order to develop the mineral potential of its properties located on the Destor-Porcupine structure. The company has reached a turning point in its development and I'll try to make sure that Typhoon reaches its full potential ».

The common shares of Typhoon Exploration Inc. are listed on the TSX Venture Exchange under the symbol "TYP".

Financial Profile:

19,271,752  Shares outstanding

$4.7 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

Drill program on the Aiguebelle- Goldfields Project  (51% owned by Typhoon and 49% owned by Agnico-Eagle Mines Ltd.), 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) 

Statements in this release that are not historical facts are « forward-looking statements » within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results may vary materially from those in these « forward-looking statements ». The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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