http://www.tyhee.com/news/27122012C.htm?CategoryID=11&Include=2&SortType=2&SortDirection=2

VANCOUVER, British Columbia (December 27, 2012) – Tyhee Gold Corp. (TSX Venture, TDC) (the “Company”) is pleased to announce that it will proceed with a non-brokered private placement of ten units of the Company (the “Units”) at $240,000 per Unit. Each Unit will be comprised of 4,000,000 common shares of the Company and 4,000,000 transferable common share purchase warrants of the Company (the “Warrants”). Each Warrant will entitle the holder to purchase a further common share in the Company (the “Warrant Shares”) at a price of $0.10 per Warrant Share within 24 months of closing. All securities sold in this private placement will be subject to a 4-month hold period from closing. The private placement is subject to the approval of the TSX Venture Exchange (the “Exchange”).

The Company may pay a finder’s fee on the private placement within the maximum amount permitted by the policies of the Exchange. The Company may complete multiple closings of the private placement, as subscriptions are received. Each closing is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals.

The funds will be used to advance Tyhee’s Yellowknife Gold Project (“YGP”), an advanced stage wholly-owned gold project in the development and permitting stage, as well as for general corporate purposes. Please refer to the Company’s news release of August 15, 2012 in respect of the Company’s announcement of a positive feasibility study of the YGP prepared by SRK Consulting. This study estimated that, at a base-case gold price of US$1,400 per ounce and a projected 4,000 tonnes-per-day processing plant comprised of a conventional gravity-flotation-cyanide process and incorporating open-pit and underground mining methods on the Ormsby, Bruce Lake, Clan Lake and Nicholas Lake deposits, the YGP is estimated to return a pre-tax net present value at a 5% discount rate of approximately $216 million and an internal rate of return of 20% based on initial estimated capital cost of $193 million (including a 10% contingency.) At current gold prices of approximately US$1,600 per oz., the YGP would have an NPV of $375 million, an IRR of 28% and a payback period of 30 months.