TLG Troilus Gold Corp (delisted)

Tagish Lake Gold Corp. (TSX VENTURE:TLG) ("Tagish" or the "Company") announces
that New Pacific Metals Corp. ("New Pacific") commenced an unsolicited take-over
bid to acquire all of the shares of Tagish on July 21, 2010. The New Pacific bid
also includes an offer to acquire all proven secured and unsecured debt of the
Company.


Tagish also announces that it has received a proposal from YS Mining Company
Inc. ("YS Mining") for the recapitalization of the Company.


The board of directors of Tagish (the "Board") has referred both the New Pacific
bid and the YS Mining proposal to the Special Committee of the Board for its
consideration and recommendations. The current members of the Special Committee
are Messrs. John Resing, Neil Steenberg and Peter Holbek. Mr. Resing is the
Chair.


The Special Committee has retained Evans & Evans, Inc. to advise it with respect
to the fairness, from a financial perspective, of the New Pacific bid and the YS
Mining proposal. The Special Committee has contacted both New Pacific and YS
Mining in an attempt to discuss and improve the terms of the New Pacific bid and
the YS Mining proposal, respectively. Shareholders are advised that the Special
Committee may not be successful in its attempts to improve the terms of the New
Pacific bid and the YS Mining proposal.


A directors circular containing the recommendation of the Board, if any, and the
reasons supporting such recommendation will be prepared and mailed to
shareholders by August 5, 2010. Shareholders of the Company are advised to take
no action at this time with respect to the New Pacific bid, pending the
completion of the Special Committee's review and the announcement of the Board's
recommendation, if any, to shareholders.


About Tagish Lake Gold Corp.

Tagish Lake Gold Corp. explores for and develops high grade gold-silver mineral
deposits in the Yukon Territory of Canada. The Company is currently focused on
its wholly owned, 178 km2 Skukum Mineral District located 80 km by road south of
Whitehorse. The Skukum Mineral District hosts the Skukum Creek gold-silver
deposit, the Goddell Gully and the Mt. Skukum gold deposits.

Troilus Gold Corp (delisted) (TSXV:TLG)
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