VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 10, 2014) - Tyhee Gold Corp. (TSX VENTURE:TDC) is pleased to announce that Tyhee NWT Corp (a wholly owned subsidiary of Tyhee Gold Corp) has signed a non-binding Memorandum of Understanding (MOU) with Det'on Cho Corporation (DCC), a wholly-owned business of the Yellowknives Dene First Nation (YKDFN). The MOU sets out the joint understanding and intention of how the Parties will work together to advance Tyhee's Yellowknife Gold Project (YGP). The YGP falls within Chief Drygeese Territory in the Northwest Territories (NWT), the territory of the Yellowknives Dene.
"This is another important milestone for the advancement of the Yellowknife Gold Project," said Hugh R. Wilson, Tyhee's V.P. Environment and Community Affairs. "It sets out the initial framework for discussions with Det'on Cho Development Corporation and the Yellowknives Dene First Nation, and is aimed at ensuring that all parties can share the opportunities and benefits generated by this development."
The MOU is intended to encourage the realization of business and employment opportunities for the DCC and YKDFN members through a competitive bidding process, provided that they can perform the work at a competitive price and to the standards required by Tyhee.
According to DCC President and CEO, Roy Erasmus Jr., the MOU is an important first step in building a successful business relationship.
"The MOU is a great starting point. It's an opportunity to create opportunities for the Yellowknives Dene but it's also a way for Tyhee to benefit from Det'on Cho's expertise, as well."
This MOU is in line with Tyhee's Social Responsibility Statement:
"From initial planning to project completion, Tyhee is fully committed to conducting business in a manner that is beneficial to society in general and, in particular, addresses the very important considerations of the indigenous people within whose area the Company operates."
FORWARD-LOOKING STATEMENTS: 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.
All statements in this news release that address events or developments that the Company expects to occur, other than statements of historical facts, is "forward-looking information." Forward-looking information is 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. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects", "believes", "anticipates", "budget", "scheduled", "estimates", "forecasts", "intends", "plans" and variations of such words and phrases, or by statements that certain actions, events or results "may", "will", "could", "would" or "might", "be taken", "occur" or "be achieved". Factors that could cause future events to differ from those anticipated in forward looking statements include: the Company's inability to complete a Definitive Agreement with the other parties involved. In addition to the above, the factors described or referred to under the headings "Financial Risks and Uncertainties" and "Operational Risks and Uncertainties" in Tyhee's Management Discussion and Analysis for the year ended November 30, 2012, which is available on the SEDAR website at ww.sedar.com, should be reviewed in conjunction with the information found in this news release.
Although Tyhee has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in forward-looking information, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, any proposed transaction could be modified, restricted or not completed, and the results or events predicted in these forward looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking information.
The forward-looking information in this news release is made as of the date of this news release, and Tyhee disclaims any intention or obligation to update or revise such information, except as required by applicable law.