Tagish Lake Gold Corp.

Tagish Lake Gold Corp.

March 15, 2005 13:10 ET

Tagish Lake Gold Corp.: Annual General and Special Meeting of Shareholders and Plans for the Future


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: TAGISH LAKE GOLD CORP.

TSX VENTURE SYMBOL: TLG

MARCH 15, 2005 - 13:10 ET

Tagish Lake Gold Corp.: Annual General and Special
Meeting of Shareholders and Plans for the Future

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 15, 2005) - Tagish
Lake Gold Corp. (TSX VENTURE:TLG)

Results of the Annual General and Special Meeting of Shareholders

Tagish Lake Gold Corp. (TLG) (Tagish" or the "Company") is pleased to
announce that its Annual General and Special Meetings of shareholders
was held in Toronto, Ontario on March 10, 2005 at which:

- the incumbent directors of the Company, being Messrs. Robert Bryce,
Charles De Chezelles, Gregory Hawkins, Robert Rodger, and Stuart Ross
were re-elected as directors of the Tagish for the coming year;

- Symthe Ratcliff, the incumbent auditors of the Company, were
re-appointed auditors of the Company for the coming year.

With respect to the transition of the Company and its Articles of
Incorporation pursuant to the new Business Corporations Act (British
Columbia):

- a special resolution to alter the Notice of Articles of the Company to
remove the application of the "Pre-existing Company Provisions" (as
defined in the Business Corporations Act) was adopted and approved;

- a special resolution amending the authorized share structure for the
Company from 500,000,000 Common shares without par value to an unlimited
number of Common shares without par value was adopted and approved; and,

- a special resolution to adopt new Articles for the Company was adopted
and approved.

Looking Ahead

Management of the Company is actively pursuing exploration and
development of its principal property that that covers the whole of the
Skukum Mineral District in the Yukon, Canada. Management believes that
the market continues to underestimate the value of the Company's assets.
It is therefore examining a number of alternatives to financing that
would maximize benefits to Tagish shareholders. The Company also intends
to broaden its communication on the extraordinary potential of the
Skukum Mineral District.

Always with the best interest of the Company in mind, management is
looking at various alternatives to advancing the high-grade Skukum Creek
gold-silver deposit to production, whether innovative means of
financing; or strategic partners to share in the costs and benefits of
the proposed development of the Skukum Creek deposit. The Company has
already undertaken preliminary discussions with entities or groups
considered by management to possess the necessary resources to assist us
in advancing the existing project while maintaining the proper
assurances that Tagish will retain the interest commensurate to its
historical and future expenditures on the project.

The Company has moved to consolidate Tagish's interest in and around the
Skukum Property. As reported, the 30% working funded interest formerly
held by Arkona Resources Inc. (now Action Minerals Inc.) with respect to
certain claims related to the Goddell Gully deposit was acquired in
January. Management believes that the long-term benefit from this
transaction will greatly out-weight the short-term cost.

Tagish is actively seeking to enhance the value of the Company through
acquisitions that would add to the Company's portfolio of advanced
precious metal exploration opportunities, preferably in the Yukon,
Canada. This would include strategic acquisitions of other projects and
properties in which Tagish can leverage its exploration and operations
expertise, relationships with government officials and First Nations
representatives. The Company will identify, and evaluate, acquisition
opportunities that fit within management's business plan and which have
the potential to add value for its shareholders.

As previously announced, Tagish has commenced a program of underground
diamond drilling at the Skukum Creek gold-silver deposit on the Skukum
property. A total of 1,000 meters in sixteen holes is planned to expand
the mineral resource at Skukum Creek by drilling the extensions of the
Rainbow Two and Kuhn zones. The drilling is part of the $3.5 million
program of underground work, diamond drilling and engineering studies
designed to bring the Skukum Creek project to a full feasibility stage.
Results of the drilling will be released as received.

About Tagish Lake Gold Corp.

Tagish Lake Gold Corp. is focused on exploration and development of high
grade gold-silver mineral deposits in the Yukon territory of Canada, in
particular the Skukum Mineral District (covering 178 km2) that is owned
by Tagish. The Skukum Mineral District, located 80 km by road south of
White horse, hosts the Skukum Creek gold -silver deposit, and the
Goddell Gully and Mt. Skukum gold deposits.

The statements contained in this news release that are not purely
historical are forward-looking statements. "Forward looking statements"
include statements regarding our expectations, hopes, intentions or
strategies regarding the future. Forward looking statements include:
statements regarding future exploration and development; statements
regarding future general and administrative costs and exploration and
development spending; and our exploration and development strategy;
statements regarding future capital expenditures and financing
requirements; and similar forward looking statements. It is important to
note that our actual results could differ materially from those in such
forward-looking statements.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Tagish Lake Gold Corp.
    Robert Rodger
    President
    (604) 273-6477
    (604) 248-2996 (FAX)
    or
    Tagish Lake Gold Corp.
    Investor Relations
    (604) 273-6417
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.