Taipan Enters Into An Agreement To Buy A 25% Working Interest In Oil And Gas Leases In Texas Panhandle – 5/9/2016

Vancouver, British Columbia–(Newsfile Corp. – May 9, 2016) – Taipan Resources Inc. (TSXV: TPN) (“Taipan” or the “Company”) is pleased to announce that it has entered into a Working Interest Assignment Agreement with Ponderosa Engergy, LLC (“Ponderosa”) to purchase a twenty five percent (25%) working interest in Ponderosa’s 100% working interest in fifty seven (57) oil and gas leases covering 7,314 acres located in the bifurcated Texas Panhandle (the “Transaction”).