Tagish Lake Cancels All 2010 Incentive Stock Options

   Tagish Lake Gold Corp. (the "Company") (TSX VENTURE: TLG) announces it has cancelled an aggregate of 11,981,720 Company incentive stock options representing all Company incentive stock options the Company granted April 1, 2010 (collectively, the "Options") and approved by the Company's previous board of directors.

Following cancellation of the Options the Company will have 1,000,000 options issued. Any future options to Company directors, officers, employees, and consultants will be granted, subject to: the creation of a new Company stock option plan (the "Plan"), prior TSX Venture Exchange ("TSXV") approval, and prior approval of the Plan by Company shareholders.

This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the Company. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Forward-looking information in this news release includes, without limitation, statements made in respect of the Arrangement.

All forward-looking statements in this news release are qualified by these cautionary statements. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, should not be unduly relied upon and will not necessarily be accurate indications of whether or not such results will be achieved. Forward-looking information is based on various material factors or assumptions, which are based on information currently available to the Company. Although the forward-looking statements contained in this news release are based upon what management believes are reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements.

The forward-looking statements contained in this news release are made as of the date of this news release and should not be relied upon as representing the Company's views as of any date subsequent to the date of this news release. The Company assumes no obligation to update or revise these forward-looking statements to reflect new information, events, circumstances or otherwise, except as required by applicable law.

Neither 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.

Contacts: Tagish Gold Lake Corp. Rui Feng President 604-669-9397 www.tagishgold.com