TYHEE ANNOUNCES JOINT VENTURE FOR BIG SKY PROPERTY
posted on
Mar 29, 2012 08:02AM
(PRESS PROFILE TAB FOR FACT SHEET & UPDATES)
http://www.tyhee.com/investors/documents/TyheeWilliamsCreekOptionMar2012Final.pdf
March 29, 2012 For immediate release Release: Series 13 Release 5 TSX Venture: TDC TYHEE ANNOUNCES JOINT VENTURE FOR BIG SKY PROPERTY VANCOUVER, British Columbia (March 29, 2012) – Tyhee Gold Corp. (TSX Venture, TDC) (the “Company”) announces that it has entered into an agreement with Williams Creek Gold Inc. under which Williams Creek has the option to earn up to a 50% joint venture interest in Tyhee’s Big Sky property, located 17 km north of Yellowknife, Northwest Territories, Canada. The property is comprised of five mining leases covering 137 hectares (338 acres) and 20 claims totaling 1,853 hectares. Information regarding the property can be found on the Company’s website at www.tyhee.com. In order to earn its interest, Williams Creek must spend a minimum of $100,000 per year over the next five years (total $500,000) on exploration and/or development of the property. Upon completion of the expenditures, Williams Creek and the Company will form a joint venture for the further development of the property. “We are very pleased to reach this agreement with Williams Creek for the development of the Big Sky property. Now, we will be able to advance Big Sky while continuing to focus on our feasibility study and development of our Yellowknife Gold Project (Ormsby, Nicholas Lake and Clan Lake properties),” said Brian Briggs, interim CEO for Tyhee Gold Corp. “Williams Creek has been a strong supporter of Tyhee, having advanced over $2.7 million in funding through private placements, which have been used to advance the Yellowknife Gold Project, which contribution will be recognized in the Joint Venture.” The agreement with Williams Creek is subject to the approval of the TSX Venture Exchange. For further information please contact: Greg Taylor