TDC

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

Tyhee Gold Corp. (the "Company") (TSX VENTURE:TDC) announces today that as a
result of a review by the British Columbia Securities Commission (the "BCSC"),
the Company is issuing the following news release to clarify its continuous
disclosure record.


SRK Consulting, Knight Piesold and Lyntek Inc. completed an independent
feasibility study on the Company's Yellowknife Gold Project in August, 2012
("Feasibility Study") and which is filed on SEDAR at www.sedar.com. The Company
included the results from the Feasibility Study in the Company's new releases
dated August 15, October 1 and December 17, 2012 (collectively, the "News
Releases"), in its corporate investor presentation dated November 9, 2012
("Corporate Presentation"), in its corporate fact sheet dated September, 2012
and updated in November, 2012 ("Corporate Fact Sheet"), and on its website.


The Company is now issuing this news release to clarify and in some cases,
retract, certain disclosure in respect of the Yellowknife Gold Project as
follows:




--  When the Company previously disclosed the results of the economic
    analysis from the Feasibility Study, it only disclosed pre-tax numbers.
    To ensure shareholders understand the value of the Yellowknife Gold
    Project and to provide balanced disclosure, the Company would like to
    present the economic analysis with both pre-tax and post-tax numbers:

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                 Yellowknife Gold Project Feasibility Study                 
                     Highlights @ $1400/oz. gold price(1)                   
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                                                       Pre-tax $ 216 million
NPV                                                    Post-tax $115 million
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CAPEX (incl. 10% contingency)                                  $ 193 million
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Avg. Annual gold production (first 8 years)                  104,000 oz./yr.
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Plant throughput (nominal)                                         4,000 tpd
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Mine life                                                           15 years
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Payback                                                            42 months
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Cash cost                                                                   
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 LOM                                                          $854/ oz. gold
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 First 8 full years                                           $797/ oz. gold
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Operating Profit (pre-tax)                                                  
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 LOM                                                            $659 million
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 First 8 Years Avg.                                approx. $60 million / yr.
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                                                                 Pre-tax 20%
IRR                                                             Post-tax 15%
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(1) This $1,400/oz. base-case gold price is calculated based on the 36 month
trailing average gold price as of August 1, 2012. 


The Company has also revised its Corporate Presentation and Corporate Fact Sheet
and updated its website disclosure to present its economic analysis with pre-tax
and post-tax numbers.




--  The Company would like to clarify that the base-case gold price used in
    the sensitivity analysis in the Feasibility Study is $1,400/oz., which
    was calculated based on the 36 month trailing average as of August 1,
    2012. The Company has revised disclosure where the Company previously
    highlighted gold prices higher than $1,600/oz. in its sensitivity
    analysis.

--  The Company retracts its disclosure of gold price sensitivity analysis,
    and in particular, the sensitivity analysis based on the then current
    gold price of $1,770/oz., found in its October 1, 2012 news release. To
    provide a more balanced disclosure of the sensitivity analysis, the
    Company has updated its disclosure to highlight the use of the
    $1,400/oz. base-case gold price, and to present the gold price
    sensitivity analysis disclosed in accordance with data presented in the
    NI 43-101 technical report "NI 43-101 Technical Report Yellowknife Gold
    Project, Northwest Territories, Canada, Effective Date September 7,
    2012" available on SEDAR. The revised disclosure is as follows:
     

Yellowknife Gold Project Feasibility Study - Gold Price Sensitivity Analysis
                                                                            
----------------------------------------------------------------------------
                      Pre-Tax                          Post-Tax             
----------------------------------------------------------------------------
Gold                                                                        
 Price                                                                      
 (US$/
 oz.)     $1,300 $1,400(1)  $1,500  $1,600  $1,300 $1,400(1)  $1,500  $1,600
----------------------------------------------------------------------------
NPV                                                                         
 (US
 $000s)  136,010   215,724 295,438 375,152  63,658   115,139 166,957 217,379
----------------------------------------------------------------------------
IRR          15%       20%     24%     28%     11%       15%     18%     21%
----------------------------------------------------------------------------
Payback                                                                     
 (months)     50        42      34      30      50        42      34      30
----------------------------------------------------------------------------



(1) This $1,400/oz. base-case gold price is calculated based on the 36 month
trailing average gold price as of August 1, 2012. 




--  The Corporate Presentation included disclosure of an economic
    performance chart with calculations based on a $1,700/oz. gold price,
    which was presented on a price sensitivity basis. This gold price was
    not specifically disclosed in the Feasibility Study sensitivity analysis
    and the disclosure was unbalanced since it did not provide a
    corresponding downside analysis. The Company has updated the Corporate
    Presentation and related website disclosure to remove any disclosure of
    an economic performance chart based on a $1,700/oz. gold price without a
    corresponding balance to the downside at $1,100/oz.

--  The Corporate Presentation included disclosure of the exploration
    potential (being the potential quantity and grade of gold resource) at
    the Yellowknife Gold Project. Such disclosure included the statement
    "Multi-million ounce gold potential", which is not in compliance with N
    I 43-101 Standards of Disclosure for Mineral Projects. The Company
    retracts this disclosure in its entirety. 



In those instances where the Company has retracted, revised, clarified or
updated previous disclosure, the Company advises readers not to rely on such
statements as they may continue to be found in the public domain.


The scientific and technical information contained in this news release was
prepared by or under the supervision of Brian Briggs.


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
O: 905 337-7673 or C: 416 605-5120
gtaylor@tyhee.com


Tyhee Gold Corp.
Brian Briggs
President
604 681-2877
info@tyhee.com

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