Tagish Lake Gold Corp.

Tagish Lake Gold Corp.

June 27, 2008 14:03 ET

Tagish Lake Provides Update

RICHMOND, BRITISH COLUMBIA--(Marketwire - June 27, 2008) - Tagish Lake Gold Corp. ("Tagish Lake") (TSX VENTURE:TLG) - Tagish Lake is pleased to announce that it has received a further Conditional Waiver from Macquarie Bank Limited with regards to the C$1.5 million Feasibility Finance Facility credit agreement until August 8, 2008. This waiver will allow Tagish to commence a formal review process to consider the increasing numbers of serious expressions of interest in the further development of the Skukum Creek Project.

The Board of Directors of Tagish Lake Gold Corp is soliciting interest from potential industry players who are focused on the underground production or exploration of high grade precious or polymetallic deposits, who have strong cash and liquidity positions and who have sufficient market capitalization to absorb the challenges of taking the project to production.

T. Greg Hawkins, Chairman and Interim CEO of Tagish, is also pleased to announce the appointment of Mr. Andy Graetz, as a Strategic Advisor. Mr. Graetz will be leading the effort to maximize the value of the Skukum Creek asset and move it toward production.

Mr. Graetz, a mining engineer by profession, has over 25 years experience in operations, project and corporate development, finance and administration in the South African, Canadian, Philippine and USA mining industries. Mr. Graetz has recently held CFO positions for public and private companies in South Africa and Canada and is and has been a director of companies in the United Kingdom, Canada, South Africa, the Philippines and Australia. Mr. Graetz has relevant international experience in project financing and corporate transactions in Australia, Canada and more recently in South Africa and is currently an independent consultant based in Vancouver, Canada.

About Tagish Lake Gold

Tagish Lake Gold Corp. explores for and develops high grade gold-silver mineral deposits in the Yukon Territory of Canada. The Company is currently focused on its wholly owned, 178 km2 Skukum Mineral District, located 80 km by road south of Whitehorse. The Skukum Mineral District hosts the high-grade Skukum Creek gold-silver deposit, the Goddell Gully gold deposit and the Mt. Skukum gold deposit. Tagish is currently at the Feasibility stage and is anticipating moving toward production in late 2009.

Should you wish to receive Company news via email, please email lmalcolm@tagishgold.com and specify "TLG News" in the subject line.

This news release includes certain forward looking statements in respect to various issues including upcoming events. These forward looking statements are based upon current expectations which involve risks and uncertainties that could cause actual outcomes and results to differ materially. Mineral exploration is subject to a high degree of risk, which even a combination of experience, knowledge, and careful evaluation may fail to overcome. Exploration activities are also expensive. The Company will therefore require additional financing to carry on its business, and such financing may not be available when it is needed. The Company disclaims any obligation to revise any forward looking statements as a result of information received after the fact or regarding future events.

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

Contact Information

  • Tagish Lake Gold Corp.
    Greg Hawkins
    (604) 273-6447
    Tagish Lake Gold Corp.
    Lindsay Malcolm
    Investor Relations
    (604) 273-6447
    (604) 273-6488 (FAX)
    Email: lmalcolm@tagishgold.com
    Website: www.tagishgold.com