Typhoon to Acquire Remainder of Fay West Property

PIEDMONT, QC, Aug. 24, 2020 /CNW Telbec/ - Typhoon Exploration Inc. (TSXV: TYP) (« Typhoon » or « the Company ») finalized an agreement with Agnico Eagle Mines Limited to acquire its residual interest (49%) in the Fay West Property. In exchange, Typhoon will pay $25,000 in cash; issue 500,000 common shares; and grant a 2% net smelter return royalty on the Fay West Property.

With this agreement, which is conditional to the TSX Venture Exchange's approval, Typhoon now controls 100% of the Fay West Property.

SOURCE Typhoon Exploration Inc.

Ghislain Morin, CEO, 819-354-9439, [email protected]; Serge Roy, Chairman of the Board, 819-856-8435, [email protected]