Tyhee Announces Closing of Additional Tranche Non-Brokered Private Placement

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

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Aug. 2, 2012) - Tyhee Gold Corp. (TSX VENTURE:TDC) (the "Company") is pleased to announce that, further to its news release of July 9, 2012, it has completed its final closing of its previously announced non-brokered private placement (the "Private Placement"). In this closing, the Company issued 4,000,000 units (the "Units") at a price of $0.09 per Unit for gross proceeds of $360,000. Together with the previous closings of the Private Placement announced by the Company on April 17, 2012 and on May 24, 2012, an aggregate 19,719,209 units (the "Units") were sold for aggregate gross proceeds of $1,774,370.

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.

All securities issued in this closing are subject to a four month hold period in Canada which expires November 13, 2012.

The Company's shares trade on the TSX Venture Exchange under the symbol "TDC". For additional information, please visit the Company's website, www.tyhee.com or www.sedar.com.


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 Information

GT Investor Relations Inc.
Greg Taylor
O: 905 337-7673 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