Typhoon Exploration Plans a Drilling Campaign on the Aiguebelle-Goldfields Project

LAVAL, QUEBEC--(Marketwire - March 7, 2012) - Typhoon Exploration Inc. - (TSX VENTURE:TYP) is pleased to announce that all work completed on the Aiguebelle-Goldfields Property was accepted by Agnico-Eagle Mines Limited. Following this decision, Typhoon as now fulfilled all its obligations towards the agreement signed between both sides in February 2006 (amended in 2010) and now holds 51% of the Aiguebelle-Goldfields Property (49%-owned by Agnico-Eagle Mines Limited). It is noteworthy that Typhoon Exploration Inc. acts as operator for work carried out on the property.

Typhoon has already submitted a first phase of work for 2012, including a drilling campaign of approximately 2,550 meters. The access paths are ready and work should begin on the Aiguebelle-Goldfields Property as soon as the required permits are received and work is approved by both sides.

The goal of this drilling campaign will be to aim at perpendicularly intersecting the mineralized zones of North-South orientation (in the sector in which the showing was discovered in 2011) and on the other hand to expand the showing's mineralized shell.

GEOLOGICAL INTERPRETATION

The recent 3D reinterpretation (plan/section/longitudinal) of the drilling data available for the historic showing marked a new step in the understanding of this showing and brings at the same time encouraging perspectives for future work to come on the Aiguebelle-Goldfields site. The gold mineralization on the Aiguebelle-Goldfields Showing seems to be contained inside of a mineralized lens that can be considered as the same global ensemble. The attitude of this lens is being perceived as a confined structure between 50 and 150 meters deep not reaching the surface, of east-west orientation, with a possible subvertical dip towards the north. The works show as well that the Aiguebelle-Goldfields Showing stays open both towards the east and at depth.

ABOUT TYPHOON

A drilling campaign including 1 drill rig is currently underway on the Fayolle Project with growing the quality of gold ounces of the Fayolle Deposit as its main objective. Furthermore, a new resource calculation is underway on the Fayolle Deposit and we are awaiting results from the drillings carried out at the end of 2011 on the Monexco Project, located in the Chibougamau region, in the heart of Plan Nord (Québec Government).

QUALITY CONTROL

All drill cores were oriented using CorientR tool in order to measure their geological structures. Deviation testing was performed with a FLEXIT device. Cores were sawn in half, with one part being kept as a control and the other part 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 Minerals Laboratory in Val-d'Or.

QUALIFIED PERSON

Mr. Robert Gagnon, P. Geo. (OGQ) of Typhoon Exploration Inc., 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.

Symbol:

TYP.V (Venture Exchange)

Financial Profile:

19,918,157 Shares outstanding

Highlights:

Fayolle Project,100%-owned by Typhoon Exploration Inc. (See agreement with Aurizon Mines Ltd. in press release dated May 18, 2010)

Faille 1 Project, 100%-owned by Typhoon Exploration Inc.

Monexco Project, 100%-owned by Typhoon Exploration Inc.

Aiguebelle-Goldfields Project, 51%-owned by Typhoon and 49%-owned by Agnico-Eagle Mines Limited

Destorbelle Project, 50%-owned by Typhoon and 50%-owned by Diamond Frank Inc.

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/Typhoon0306.pdf