As the gold can be found in two different types of rocks, two gold-bearing composite samples were examined by SGS Mineral Services: a Komatiite composite, containing an assay grade of 7.78 grams of gold per tonne and an intrusive composite, containing an assay grade of 4.59 grams of gold per tonne. After 48 hours, gold recoveries ranged from 94% to 97% for both composites. Finer grinding typically increased the gold recovery at the cost of higher cyanide consumption.
Gravity separation testing on the Komatiite composite showed a 27.3% Gravity Recoverable Gold ("GRG"). Gravity separation testing on the Intrusive composite showed a 41.4% GRG. The combination of gravity recovery and cyanidation of the gravity tail did increase the overall gold recovery by 1-3%. This demonstrates that this concept would be beneficial from a plant design and financial perspective.
Bond ball mill testing indicated that the two composites fell in the medium range of hardness compared to the SGS database (12.0-14.1 kWh/t).
AGREEMENT WITH AURIZON MINES LTD.:
Typhoon Exploration Inc. signed an option agreement with Aurizon Mines Ltd., for the development of its Fayolle gold property (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 Fayolle Project by incurring total expenditures of (CAD) $25 M and by subscribing for common shares of the Corporation for gross proceeds of (CAD) $2 M. To date, Aurizon Mines Ltd. have invested CAD$9,003,825 in exploration expenditures and have subscribed to 3 private placements of CAD$500,000 each, totaling CAD$1,500,000.
ABOUT TYPHOON EXPLORATION INC.
-- Typhoon Exploration Inc. holds only 24,101,235 shares outstanding.-- The Fayolle Property offers the company the potential to host important gold resources.
THE COMPANY OWNS THE FOLLOWING PROJECTS:
-- Fayolle Project, 100%-owned by Typhoon Exploration Inc. / Rouyn-Noranda region (See agreement with Aurizon Mines Ltd. 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, in the heart of Plan Nord territory-- Nordair Project, 100%-owned by Typhoon Exploration Inc. / James Bay region, in the heart of Plan Nord territory-- 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 Diamond Frank Exploration Inc. / Rouyn-Noranda region
For more information, visit SEDAR's website at www.sedar.com or the company's website at www.typhoonexploration.com
Mr. Daniel Gaudreault, P. Eng., Geol. (OIQ No. 39834), of Geologica Groupe-Conseil, is the Qualified Person as defined by NI 43-101, to supervise the preparation of this press release.
The Independent and Qualified Persons for the PEA, as such terms are defined by NI 43-101, are Sylvie Poirier, Eng. (OIQ 112196), Alain Tremblay, Eng. (OIQ107489) and Alain Carrier, M.SC., P.Geo. (OGQ no.281) of InnovExplo Inc. and Denis Isabel FEC, PhD, Eng. (OIQ no. 36006) of SNC-Lavalin Inc. (chapter 20, "Environmental Studies, Permitting and Social or Community Impact").
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.
To view the two maps associated with this press release, please visit the following links:
David Mc Donald
President and CEO
Toll free: 1.877.622.4004