Tyhee to Raise Up to $6 Million

Tyhee Gold Corp. (the "Company") announces it has agreed to raise up to $5 million in a best efforts private placement of units to be completed by Euro Pacific Canada Inc. and Byron Capital Markets Ltd. (the "Agents"). The Agents will be granted the right to issue an additional $1 million worth of units at identical terms exercisable 48 hours before the final closing. The Company will issue up to 66.67 million units at $0.09 per unit consisting of one previously unissued share and one non-transferable share purchase warrant. Each share purchase warrant and $0.125 will enable a subscriber to acquire an additional share in the Company within 24 months of closing.

The Agents will be paid cash compensation equal to 6% of the total funds raised in addition to non-transferable broker warrants equal to 6% of the total number of units issued on closing. Each broker warrant will be exercisable into shares of the Company at $0.09 per share for a period of 24 months after closing.

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. A Feasibility Study, lead by SRK Consulting, is underway and expected to be completed by mid-2012. It will build on the positive Preliminary Feasibility Study completed in July 2010, which recommended operating at 3,000 tonnes per day. The Feasibility Study will also consider an expanded resource as well as other updated inputs, including a more current gold price.