TYPHOON EXPLORATION INC.: Typhoon Modifies the Price of its Stock Option

LAVAL, CANADA--(Marketwire - July 3, 2009) - Typhoon Exploration Inc. (TSX VENTURE:TYP) announce that subject to the approval of its disinterested shareholders at the annual and special meeting of August 11th, 2009 as well as the approval of the TSX Venture Exchange (the "Exchange"), the company plans to modify the exercise price of 285,000 stock options already granted to a price of $0.115 per share, i.e. the closing price of the common shares on the Exchange on July 2, 2009.

Exploration Work

The company mandated his consultants to complete a major compilation of the whole sector covered by the properties Fayolle and Aiguebelle-Goldfields. Moreover this compilation will be able to include certain neighbouring sectors. This report should be available for the autumn 2009.

The common shares of Typhoon Exploration are listed on the Venture Stock Exchange under the symbol "TYP".

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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