Tyhee Announces New Chief Financial Officer

TSX Venture: TDC

VANCOUVER, Jan. 17, 2012 /CNW/ - Tyhee Gold Corp. (TSX Venture: TDC) (the "Company") announces that, effective immediately, Harjinder S. Gill has been appointed to the full time position of Chief Financial Officer of the Company, and as CFO of Tyhee N.W.T. Corp., the Company's wholly owned Northwest Territories operating company.

Mr. Gill will be taking over from Lorne B. Anderson, C.A., who has held the same role since May 2005 on a part time basis. Mr. Anderson is stepping down to pursue other business interests.

As a financial executive, Mr. Gill brings a wide variety of experience in the mining industry, both in Canada and internationally, including extensive responsibility for budgeting, cost management, auditing, taxation, forensic analysis as well as enterprise resource planning and information systems implementation.

For the past four years Mr. Gill was Director General of Akmola Gold LLP, which conducted extensive exploration and development work on its project in Astana in northern Kazakhstan. In his role as the Chief Executive and one of the principals, Mr. Gill was responsible for acquiring the project, arranging private funding and overseeing technical personnel in charge of exploration and development  on  two mineralized zones which were taken to resource status.  Mr. Gill was also responsible for arranging the necessary work for National Instrument 43-101 resource reports.

Prior to his most recent position with Astana, Mr. Gill worked 16 years in a variety of positions for Teck Resources, including 12 years as a Business Analyst charged with operational trouble shooting and business development.  Mr. Gill's most notable role with Teck included working on the Antamina project in a construction oversight role, which later transitioned to Mine Controller during that project's startup.

Mr. Gill's addition to Tyhee's executive team follows the recent appointment of Brian K. Briggs P.E. as Interim CEO (see Tyhee release dated December 19, 2011.)

Mr. Briggs stated, "On behalf of all of us at the Company, I want to thank Lorne for his professionalism and invaluable service over the past years.  Change is a necessary part of company growth and development but in this case, we are appreciative of Lorne's past efforts and look forward to his continued success in his future business ventures.

The addition of Mr. Gill to the Tyhee management group allows the Company to continue to focus on achieving our stated corporate goal of transitioning the Yellowknife Project from exploration to an operating gold mine.  Mr. Gill's wealth of experience and knowledge in the financial world will be heavily relied upon as we turn our vision into a reality in a few short years."

About Tyhee: Tyhee Gold Corp. is focused on rapidly developing its Yellowknife Gold Project, an advanced stage wholly-owned gold project currently in the final stages of a Feasibility Study as well as the Developer's Assessment Review.   The Feasibility Study, currently led by Mr. Briggs', with SRK Consulting as the lead consultant, is on schedule for mid-2012 completion and is expected to improve upon project fundamentals given in the Pre-Feasibility Study completed in July 2010.  Tyhee's shares trade on the TSX Venture Exchange under the symbol "TDC". For additional information, please visit the Company's website, www.tyhee.com or www.sedar.com.

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.

This news release contains "forward-looking statements" within the meaning of applicable securities laws, including statements relating to the completion of the feasibility study, permitting and stated goal of constructing and operating the Yellowknife Gold Mine. Readers are cautioned not to place undue reliance on forward-looking statements. Actual results and developments may differ materially from those contemplated by these statements.  Factors which may lead the Company to not complete the feasibility study, or not to proceed with or complete construction or development projects and studies, to delay permit applications, or delay the delivery of the feasibility study include factors such as insufficient financing, analysis of the exploration results may lead to a determination that further exploration or development is not warranted, additional information requirements necessary to complete permit applications and the feasibility study may be delayed by weather and other constraints, delays as a result of early or late onset of winter conditions, availability of personnel and equipment to conduct work programs, permit reviews, information requests and other factors not within the Company's control.  The factors identified above are not intended to represent a complete list of the factors that could affect the Company. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company does not undertake to update forward-looking statements, except where required by law.  

SOURCE Tyhee Gold Corp.

For further information:

Greg Taylor       Jay Bedard       Denis Taschuck
GT Investor Relations Inc.     Envoy Strategic Partners     Chairman - Tyhee Gold
O: 905 337-7673 C: 416 605-5120    T: 416 977-7778      T: 604 681-2877
gtaylor@gtinvestorrelations.com     jay@envoystrategicpartners.com   info@tyhee.com

 

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