Tyhee Gold Corp.
TSX VENTURE : TDC

Tyhee Gold Corp.

May 24, 2012 07:00 ET

Tyhee Announces Closing of Second Tranche Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 24, 2012) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES

Tyhee Gold Corp. (TSX VENTURE:TDC) (the "Company") is pleased to announce that, further to its news release of April 2, 2012, it has completed the second closing of its previously announced non-brokered private placement (the "Private Placement"). In this closing, the Company issued 5,500,000 units (the "Units") at a price of $0.09 per Unit for gross proceeds of $495,000. Each Unit consisted of one common share of the Company and one transferable common share purchase warrant of the Company (the "Warrants"). Each Warrant will entitle the holder thereof to purchase a further common share in the Company (the "Warrant Shares") at a price of $0.125 per Warrant Share until May 23, 2014. Together with the first closing of the Private Placement announced by the Company on April 17, 2012, an aggregate 15,715,209 units (the "Units") were sold for aggregate gross proceeds of $1,414,370.

The funds will be used to advance its Yellowknife Gold Project, an advanced stage wholly-owned gold project in the feasibility study and permitting stage, as well as for general corporate purposes.

All securities issued in this closing are subject to a four month hold period in Canada which expires September 24, 2012.

The Company's shares trade on the TSX Venture Exchange under the symbol "TDC". For additional information, please visit the Company's website, www.tyhee.com or www.sedar.com.

All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are "forward-looking statements". Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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