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Typhoon
Exploration Inc. (TSX VENTURE:TYP - News) 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
Contact:
David Mc Donald,
President and CEO
Typhoon Exploration Inc.
Robert Gagnon, Geo. and Director
450-622-4066
Head Office:
Toll free : 1-877-622-4004
450-622-4337 (FAX)
info@typhoonexploration.com
www.typhoonexploration.com
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