LAVAL, QUEBEC -- (Marketwire) -- 03/15/13 -- Typhoon Exploration Inc. (TSX VENTURE: TYP) announces that it has no explanation as to the cause of the sudden rise in the share price of the Company.
We are currently finalizing a Preliminary Economic Assessment Study ("PEA") on the Fayolle Deposit and it will be announced through a press release as soon as we have authorization.
It is worth repeating that the past year has been of particular significance with regards to exploration activities for Typhoon Exploration Inc. In fact, following the signing of the $27 million dollar agreement with Aurizon Mines Ltd. on the Fayolle Project (see May 18, 2010 press release), exploration works of an unprecedented magnitude were conducted and financed by Aurizon Mines Ltd.
In addition, in Septembre 2012 Typhoon published an Updated Mineral Resource Estimate for the Fayolle Deposit and results of metallurgical testwork on the Fayolle Property ("NI 43-101"). All of the updated mineral resources are now in the indicated mineral resource category, the total inferred resources transferred into this category (see Sept. 6, 2012 press release).
Typhoon maintains a strong financial position and carries no debt.
For more information, visit SEDAR's website at www.sedar.com or the company's website at www.typhoonexploration.com
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.
David Mc Donald
President and CEO
Toll free: 1.877.622.4004
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