Tyhee Development Corp Reports Receipt of Preliminary Feasibility Study and Identifies New Project Options

TSX Venture: TDC

VANCOUVER, July 6 /PRNewswire-FirstCall/ - Tyhee Development Corp. (TSX Venture, TDC) (the "Company") is pleased to announce the receipt of a Preliminary Feasibility Study (PFS) on the Yellowknife Gold Project.

Tyhee has reviewed a draft copy of a preliminary feasibility study on the Yellowknife Gold Project. Following this review Tyhee and EBA Engineering Consultants Ltd. identified a number of options available to the project that had not previously been considered and that could have material impact on the project. A review of these options and their impact, which is anticipated to improve project economics, will be necessary prior to the release of the preliminary feasibility study. It is expected that the review process will delay the release of the PFS for few weeks while management identifies the best option.

In other news, six diamond drillholes have been completed at Clan Lake. These holes are at various stages of processing and results will be reported as they become available. Mapping and prospecting at Clan Lake has focused on the north eastern margins of the Clan Lake Main Zone and prospecting work will continue to the northeast where additional subparallel gold zones have been identified but are poorly defined.

Tyhee Development Corp. is a gold exploration and development company working to start gold production in the historic Yellowknife Gold Camp, NWT, Canada. It is the largest property holder in this camp and has the largest exploration and development program underway in the region. Its principal asset, the Yellowknife Gold Project includes the Nicholas Lake, Ormsby, Bruce, Goodwin Lake, and Clan Lake Gold Zones. All are located on mineral claims and mining leases 50 to 90 km north of Yellowknife, NWT and are expected to feed a single milling operation. (Note: only Nicholas Lake and Ormsby Zones are being included for permitting purposes).

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.

SOURCE Tyhee Development Corp.