LAVAL, CANADA--(Marketwired - Oct. 23, 2013) - TYPHOON EXPLORATION INC. ("Typhoon") (TSX VENTURE:TYP) and its partners Hecla Quebec Inc. for the Fayolle Project and Axe Exploration Inc. for the Destorbelle Project, have begun various exploration programs on the Fayolle, Destorbelle and Faille 1 properties.
The Fayolle, Faille1 and Destorbelle Projects are located amongst Abitibi's developing mining projects such as: the Westwood Project from Iamgold, Heva-Hosco from Hecla Quebec Inc. and Canadian Malartic from Osisko, just to name a few. (see map)
The realization of the surface exploration efforts will provide critical basic information to further work on these properties as well as for future drilling campaigns.
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.
OUTLOOK
- 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".
| Bureau Chef |
| 255, Curé-Labelle Blvd. |
| Suite 204 |
| Laval, QC H7L 2Z9 |
| Tel : 450.622.4066 |
| Fax : 450.622.4337 |
| Toll free: 1.877.622.4004 |
| Bureau Exploration |
| 10741, Route d'Aiguebelle |
| Rouyn-Noranda (Mont-Brun), QC |
| J0Z 2Y0 |
| Tel : 819.637.2096 |
| Fax : 819.637.2076 |
| info@typhoonexploration.com |
| http://www.typhoonexploration.com/ |
| TSX-V: 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/906065a_TYP_Fig.1.pdf.
Contact Information:
President and CEO
450.622.4066
Toll free: 1.877.622.4004
450.622.4337 (FAX)
info@typhoonexploration.com
www.explorationtyphon.com