Tyhee Gold Corp.-President's Report

Tyhee Gold Corp. (TSX VENTURE:TDC) (the "Company") is pleased to announce the
release of the following Report to Shareholders by Brian K. Briggs, P.E.,
President and Chief Executive Officer 


Dear Shareholders: 

As most of us are aware, the gold mining industry is currently undergoing a
period of turmoil, however I am pleased to report that your company remains
focused on driving forward and creating value from our outstanding land position
in the Northwest Territories ("NWT.") We have developed an exceptional package
of gold assets in one of Canada's historic gold belts - and are just now
beginning to reveal their true potential - Tyhee Gold is proud of the progress
it has been able to achieve over the past year. 


Our primary goal is to build the next gold mine in the NWT as soon as
practically possible. This objective is strongly supported by the independent
National Instrument 43-101-compliant Feasibility Study ("FS") entitled "NI
43-101 Technical Report, Yellowknife Gold Project Feasibility Study, Northwest
Territories, Canada," dated October 1, 2012. This FS provided us with the
economic and technical framework supporting an operation that would produce
approximately 100,000 ounces ("oz.") of gold per year during the first eight
full years of production. The study used a base-case gold price of US$1,400/oz.
and a projected 4,000 tonnes-per-day processing plant comprised of a
conventional recovery circuit (gravity-flotation-CIL). Most of the reserves
(approximately 75%) are contained in the Ormsby open pit with the remainder from
Nicholas Lake, Ormsby Underground, Bruce Pit and a small amount of reserves from
Clan Lake also. 


According to the study's authors - SRK Consulting, Knight Piesold and Lyntek
Inc. out of their Denver, Colorado offices - our project is estimated to return
a pre-tax net present value ("NPV") at a 5% discount rate of approximately $216
million (post tax: $115 million) and an internal rate of return ("IRR") of 20%
(post tax: 15%)based on initial estimated capital cost of $193 million
(including a 10% contingency and as noted a $1400/oz gold price.) 


As we predicted last year, this FS provides a sharply more positive estimate
than did the less detailed, 2010 Pre-Feasibility Study. This includes a doubling
of the projected mine-life, strong growth in the Proven and Probable Reserves, a
33% increase in processing capacity and much greater potential economic returns
(see table below.)  


To view the table associated with this press release, please view the following
link: http://media3.marketwire.com/docs/tdctable.pdf. 


As we look forward to constructing the Ormsby mine and mill, the keys to Tyhee's
near term success lie with two critical path items: Financing and Permitting.
Over the next twelve months, we'll continue to focus on obtaining the short-term
financing Tyhee requires to continue an aggressive permitting schedule as well
as carry on other important tasks such as final engineering. We are currently
facing unusually challenging capital markets, but we have been able to continue
to operate over the past year due to the strong support of our loyal shareholder
base as well as our Board and we expect to continue to do so in the days ahead. 


The level of our success in obtaining short term financing will determine how
quickly we proceed with permitting, which will be followed closely by plans to
conclude the larger Project Financing. Regarding permitting, our technical team
is currently developing responses to Information Requests ("IR's") on our
Developer's Assessment Report ("DAR"). Once the IR responses are submitted, the
Mackenzie Valley Environmental Impact Review Board is expected to convene
technical sessions to discuss Tyhee's responses following which a second round
of IR's may be required. It is difficult, in our opinion, to forecast permitting
timelines in this business and doing so leaves a company open to criticism from
many different directions but suffice it to say that we hope to be through the
Environmental Assessment process by next year. This will be followed by the
regulatory phase in preparation for final permitting.  


Meanwhile, we've begun work with a number of critical vendors in preparation for
making the long-lead time decisions related to construction materials such as
ball mills and crushers. We are working with Lyntek on these issues at a pace
consistent with available funding. With continued financial support, we expect
to be about halfway through Final Engineering over the next 12 months. By then,
we should also be in the midst of an optimization study on Nicholas Lake
specifically regarding more detailed mine planning and with the goal of
increasing mill recoveries. We're also continuing to work with affected First
Nations and we look forward to formalizing ways to continue working together
with them in the near future. 


Taking a broader view, it's important to remember that, in addition to our near
term mining plans, one of Tyhee's strategic advantages is its more than
35,000-acre project area, a package that covers the vast majority of the
prospective ground north of Yellowknife. Although the primary development focus
remains on the Ormsby-Nicholas gold deposits, we have reason to believe that
these represent only the initial upside for Tyhee. 


Future Growth and Potential: 

Following the completion of the Feasibility Study, our technical team has
recently been free to conduct a more detailed review of our 10,381 acre Clan
Lake property, which lies approximately 30 kilometres south of the Ormsby
deposit. Our analysis of the initial drilling results, along with a geophysical
review as well as our initial sampling and mapping of the area, indicates that
Clan Lake has the potential to add dramatically to the Company's future. 


To give you some scope of this property, to date we have drilled 185 holes for a
total of 40,515 metres. This drilling has focused primarily on the Clan Lake
Main Zone with a small portion of the holes to the south in the Spud Zone (See
Figure 1 below). 


In addition to drilling, geological mapping and surface prospecting have
identified at least seven occurrences of similar gold mineralization over the
entire seven kilometer extent of the underlying Clan Lake Volcanic Complex (see
Figure 2 below.) 


On behalf our entire team, I would also like to welcome Dick Evans to our Board.
As we've noted, Dick has helped guide several of the world's best known resource
companies through challenging periods of development and growth and we are
honored to have him agree to bring his experience to our team. 


Finally, I want to thank our many loyal investors who share our vision and who
have stood by us as we continue to drive towards our vision of building the next
new gold mine in the Northwest Territories.


Brian K. Briggs, P.E. 

President & CEO

To view "Figure 1: Clan Lake Main Zone Drill Hole Plan," please visit the
following link: http://media3.marketwire.com/docs/tdcfigure1.pdf. 


To view "Figure 2: Clan Lake Property Map: Geology and Mineralization," please
visit the following link: http://media3.marketwire.com/docs/tdcfigure2.pdf 


Details of Quality Assurance/Quality Control (QA/QC) Procedures are described in
the Feasibility Study referred to above. 


Brian Briggs, P. Eng., a Qualified Person under NI 43-101 who is also the Chief
Executive Officer of the Company, has reviewed and approved the technical
information contained in this report.


FORWARD LOOKING STATEMENTS: Certain of the statements and information in this
press release constitute "forward-looking statements" or "forward-looking
information". Any statements or information that express or involve discussions
with respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but not always,
using words or phrases such as "expects", "anticipates", "believes", "plans",
"estimates", "intends", "targets", "goals", "forecasts", "objectives",
"potential" or variations thereof or stating that certain actions, events or
results "may", "could", "would", "might" or "will" be taken, occur or be
achieved, or the negative of any of these terms and similar expressions) are not
statements of historical fact and may be forward-looking statements or
information. 


Forward-looking statements or information relate to, among other things:
resource estimate, grades on the Yellowknife Gold Project; scope of
mineralization within the Yellowknife Gold Project; geological interpretations
and potential mineral recovery processes. 


Forward-looking statements or information are subject to a variety of known and
unknown risks, uncertainties and other factors that could cause actual events or
results to differ from those reflected in the forward-looking statements or
information, including, without limitation, risks relating to: fluctuations in
the spot and forward price of gold or certain other commodities; changes in
national and local government legislation, taxation, controls, regulations and
political or economic developments in Canada or other countries in which the
Company may carry on business in the future; the uncertainties involved in
interpreting geological data; business opportunities that may be presented to,
or pursued by, the Company; operating or technical difficulties in connection
with mining activities; the speculative nature of gold exploration and
development, including the risks of obtaining necessary licenses and permits;
diminishing quantities or grades of reserves; and contests over title to
properties, particularly title to undeveloped properties. In addition, there are
risks and hazards associated with the business of gold exploration, development
and mining, including environmental hazards, industrial accidents, unusual or
unexpected formations, pressures, cave-ins, flooding and gold bullion losses
(and the risk of inadequate insurance, or the inability to obtain insurance, to
cover these risks). 


This list is not exhaustive of the factors that may affect any of the Company's
forward-looking statements or information. Forward-looking statements or
information are statements about the future and are inherently uncertain, and
actual achievements of the Company or other future events or conditions may
differ materially from those reflected in the forward-looking statements or
information due to a variety of risks, uncertainties and other factors. Although
the Company has attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause results not
to be as anticipated, estimated, described or intended. Accordingly, readers
should not place undue reliance on forward-looking statements or information. 


The Company's forward-looking statements and information are based on the
assumptions, beliefs, expectations and opinions of management as of the date of
this press release, and other than as required by applicable securities laws,
the Company does not assume any obligation to update forward-looking statements
and information if circumstances or management's assumptions, beliefs,
expectations or opinions should change, or changes in any other events affecting
such statements or information. For the reasons set forth above, investors
should not place undue reliance on forward-looking statements and information.


FOR FURTHER INFORMATION PLEASE CONTACT: 
GT Investor Relations Inc.
Greg Taylor
905 337-7673 or C: 416 605-5120
[e-mail]


Tyhee Gold Corp.
Brian Briggs
President
604 681-2877
[e-mail]
www.tyhee.com