Tyhee Announces Non-Brokered Private Placement

NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - July 9, 2012) - Tyhee Gold Corp. (TSX VENTURE:TDC) (the "Company") announces that it will complete an additional closing of its previously announced non-brokered private placement of units (the "Units") at $0.09 per Unit. The private placement is being conducted on the terms and conditions previously announced April 2, 2012 and May 24, 2012. Each Unit is comprised of one common share of the Company and one transferable common share purchase warrant 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 $0.125 per Warrant Share within 24 months of closing. In this closing, the Company will issue 4,000,000 Units for proceeds of $360,000. The Company may complete additional closings of the private placement, as subscriptions are received, for an aggregate of up to $6.5 million (approximately $1.4 million raised to date). All securities sold in the 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 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 in August, 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.

All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, including statements regarding the closing of the non-brokered financing, the proposed use of funds, expectation of additional closings of the private placement, and the expected timing of completion of the feasibility study on the Yellowknife Gold Project, are "forward-looking statements". Forward-looking statements are 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. Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. Factors that may cause actual results to vary from those made in the forward looking statements described in this document include: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; delays in obtaining approvals, litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delays in completion of work necessary to complete the feasibility study, whether as a result of adverse weather conditions, contract or labour disputes, equipment failure, or response to regulatory enquiries in respect of permit applications; technological and operational difficulties encountered in connection with the activities of the company. This list is not exhaustive of the factors that may affect the forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the companies' forward-looking information. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available

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.



Contact

GT Investor Relations Inc.
Greg Taylor
O: 905 337-7673 or C: 416 605-5120
gtaylor@tyhee.com

Envoy Strategic Partners
Jay Bedard
416 977-7778
jay@envoystrategicpartners.com

Tyhee Gold Corp.
Brian Briggs, President
604 681-2877
info@tyhee.com
www.tyhee.com