Tagish Lake Enters Into Agreement With New Pacific for Second-Step Transaction

Tagish Lake Gold Corp. (TSX VENTURE:TLG) (the "Company") announces today that it
has entered into an agreement with New Pacific Metals Corp. ("New Pacific") to
pursue a plan of arrangement (the "Arrangement") whereby New Pacific would
acquire the remaining issued and outstanding common shares of the Company
("Shares") which it does not currently hold. The Arrangement is being proposed
in order to allow New Pacific to acquire the Shares that were not deposited
under the recently expired take-over bid by New Pacific for the Shares. If the
Arrangement is completed, the Company will become a wholly-owned subsidiary of
New Pacific.


The Company intends to seek an order from the Supreme Court of British Columbia
(the "Court") authorizing a meeting of the shareholders of the Company (on a
date to be announced) to consider the approval of the Arrangement.


The Company also intends, subject to the approval of the Court, to cancel the
meeting of the shareholders of the Company which is scheduled to be held on
November 17, 2010. As disclosed in the October 27, 2010 news release of the
Company, the previous directors of the Company have each resigned and have been
replaced with nominees of New Pacific. Given that the only matter to have been
considered at the November 17, 2010 meeting was the removal and appointment of
the directors, the meeting is no longer necessary. Shareholders of the Company
who have received the notice of meeting and management information circular in
respect of such meeting are advised to disregard such materials.


The Company also announces that effective October 27, 2010, Graham Dickson has
been removed as President and Chief Executive Officer of the Company, Sun Feng
has been removed as Chairman of the Company, Graham Scott has been removed as
Corporate Secretary of the Company, and Rui Feng has been appointed as the
President of the Company.


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.