LAVAL, QUEBEC--(Marketwire - May 11, 2012) - Typhoon Exploration Inc. (TSX VENTURE:TYP) is pleased to announce that the aggressive systematic exploration drilling campaign has generated several discoveries, stretching over 2.5 km, in the northern part of the Fayolle Property.
The year 2012 will be under the sign of the interpretation and analysis of all results obtained with the drilling campaigns since 2010. In the first quarter of 2012, definition drillings were carried out in order to validate data and a drilling campaign of approximately 7,100 meters was completed as well. A metallurgical study is currently underway, in order to validate the gold recovery rate on the Fayolle Deposit and results should be available shortly. The resources calculation, which began earlier this year, should be completed by the end of this second quarter (see Aurizon Mines Ltd. press release dated May 10, 2012). A preliminary economic study will be initiated as soon as the resources calculation will be completed.
ABOUT TYPHOON EXPLORATION INC.
The Company holds only 19,918,157 shares outstanding, carries no debt and maintains a strong financial position.
It also owns the following projects:
-- Fayolle Project,100%-owned by Typhoon Exploration Inc.
(See agreement with Aurizon Mines Ltd. in press release dated May 18,
-- 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
Visit our company website at http://www.typhoonexploration.com
Mr. Daniel Gaudreault, P. Eng., Geol. (OIQ), 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".
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.
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