Typhoon Exploration Inc.

Typhoon Exploration Inc.

September 08, 2010 15:53 ET

Typhoon Shareholders Approve Resolutions at the 2010 Annual and Special Meeting

LAVAL, QUEBEC--(Marketwire - Sept. 8, 2010) - TYPHOON EXPLORATION INC. (TSX VENTURE:TYP) announce that during the annual and special meeting held on this September 8, 2010, all the propositions contained in the circular of information were approved or: 

  • Re-election of Directors proposed by the management. (99,4%)

  • Dallaire & Lapointe was re-elected as auditor of the Company. (99,9%)

  • Approval by shareholders of the issuance of additional common shares of the corporation in favour of Aurizon Mines Ltd. (98,8%)

About Typhoon

Typhoon Exploration Inc. has signed an option agreement with Aurizon Mines Ltd. for the development of its Fayolle project, (100%-owned by Typhoon) located in the heart of Abitibi's mining projects. Pursuant to the Agreement, Aurizon has the option to acquire up to a 65% interest in the project Fayolle by incurring total expenditures of $25 Million and subscribing for common shares of the Corporation, over a three year period, for gross proceeds of $2 Million.

The Fayolle property offers the company the potential to gather important gold resources. A major data compilation of Fayolle (1946-2010) was completed between the months of April 2009 and February 2010 which allowed us to identify a favourable corridor between the Aiguebelle-Goldfields Showing and a large anomaly to the south-east of the Mc Donald Showing. The corridor shows a potential extension of the Fayolle Deposit mineralization on more than 2.5 km east-west by approximately 1.0 km north-south, all while remaining open at depth.

The company's management foresees that with a rise in gold prices, the 15,000 meter drilling operations currently underway on the Fayolle property will increase the value of its shares. It is noteworthy that the company only has 14,105,876 shares in circulation which are owned by 2,197 investors.

The common shares of Typhoon Exploration are listed on the Venture Stock Exchange under the symbol «TYP».

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.

Contact Information

  • Typhoon Exploration Inc.
    David McDonald
    President and CEO
    450-622-4066 or Toll-free 1-877-622-4004
    450-622-4337 (FAX)