Tyhee Gold Corp.

Tyhee Gold Corp.

December 19, 2011 06:00 ET

Tyhee Announces Management Change

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 19, 2011) - Tyhee Gold Corp. (TSX VENTURE:TDC) (the "Company") announces that effective immediately Dr. David Webb has been replaced as Chief Executive Officer and President of the Company, and as President and Director of Tyhee N.W.T. Corp., the Company's wholly owned Northwest Territories operating company.

Mr. Brian Briggs, P. Eng., the Company's Vice President of Engineering and Project Manager for the Yellowknife Gold Project, has been appointed interim CEO. Mr. Briggs is a Registered Professional Mining Engineer and holds both B.S. and M.S. degrees in Engineering from the University of Wyoming. Mr. Briggs' diverse and distinguished career encompasses over 23 years' experience in all phases of mine operations and mine development in North America, Africa and Asia.

Mr. Briggs began his career as a mining engineer with Shell Mining Company followed by a stint with Kennecott Energy in the 90s. In 1999 Mr. Briggs left Kennecott to work on various precious and base metals mining projects in the U.S., Ghana, Liberia, Cameroon, and Canada holding positions as President and COO as well as a number of other senior management roles focused primarily on project evaluation, development, and construction where he advanced a number of advanced green field exploration projects into producers in highly remote locations world-wide. Prior to joining Tyhee in May of 2011, Mr. Briggs worked with Geovic Mining Corp where he was Vice President of Technical Services and successfully concluded the Bankable Feasibility Study for Geovic Cameroon's Nkamouna project.

The Company is focused on rapidly developing its Yellowknife Gold Project, an advanced stage wholly-owned gold project currently in the final stages of a Feasibility Study as well as the Developer's Assessment Review. The Feasibility Study currently led by Mr. Briggs, with SRK Consulting as the lead consultant, is on schedule for mid-2012 completion and is expected to improve upon project fundamentals given in the Pre-Feasibility Study completed in July 2010. The Company is also proceeding with its previously announced financing.

Mr. Denis Taschuk, Chairman of the Board, stated, "We expect 2012 will be an extremely exciting year for Tyhee as we look forward to the results of the Feasibility Study, advancement of the DAR and other important milestones on the road to building the Yellowknife Gold Project. We feel that Mr. Briggs is extremely well suited to guide the Company through these final stages towards mine development."

Tyhee'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.

This news release contains "forward-looking statements" within the meaning of applicable securities laws, including statements relating to the completion of the feasibility study, permitting and anticipated completion of financing. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements. Factors that may lead the Company not to complete the financing include changes in market conditions, including the marketability of the company's securities, failure to obtain all necessary regulatory approvals, or the termination of the engagement by the Agents pursuant to the terms of their engagement letter. Factors which may lead the Company to not complete the feasibility study, or not to proceed with construction or development projects and studies, to delay permit applications, or delay the delivery of the feasibility study include factors such as insufficient financing, analysis of the exploration results may lead to a determination that further exploration or development is not warranted, additional information requirements necessary to complete permit applications and the feasibility study may be delayed by weather and other constraints, delays as a result of early or late onset of winter conditions, availability of personnel and equipment to conduct work programs, permit reviews, information requests and other factors not within the Company's control. The factors identified above are not intended to represent a complete list of the factors that could affect the Company. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company does not undertake to update forward-looking statements, except where required by law.

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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