Tyhee increases Yellowknife resources (February 21, 2005)

Vancouver — Gold resources from two more zones on Tyhee Development’s (TDC-V) wholly-owned Yellowknife gold project have added to the previously reported Nicholas Lake resource. Tyhee’s Yellowknife project is situated some 90 km north or Yellowknife in the Northwest Territories. The new estimates are for the Ormsby zone and West zone (of the past producing Discovery mine), which lie about 2 km apart.

Pratico, Kirkham and Stewart estimated gold resources for the two zones as follows: At a 1 gram gold per tonne cut-off, measured and indicated resources total 15.7 million tonnes averaging 3.6 grams gold, for 1,826,000 contained oz. A further 3.2 million tonnes grading 3.37 grams gold, contain 343,000 oz. gold in the inferred category.

At a 3.5 gram cut-off for the two zones, only the Ormsby zone contains resources in the measured and indicated categories. These are pegged at 3 million tonnes grading 8.91 grams gold for 862,000 oz. contained gold. A further 1.2 million tonnes grading 7.57 grams account for 298,000 oz. gold in the inferred category at Ormsby.

The West zone hosts an inferred resource of 221,897 tonnes grading 9.81 grams gold for 70,000 oz. at the 3.5 gram cut-off.

Tyhee’s underground work led to a portion of the Ormsby zone where it proved to be wider, longer, and more continuous than previous work. The gold mineralization remains open between the two zones and to depth.

The previously reported Nicholas Lake Main zone resource, was calculated by Dupre and Giroux in 2003, at a cutoff of 5 grams gold. They estimated 186,767 oz. gold within 612,000 tonnes grading 9.49 grams gold in the measured and indicated categories; with another 58,334 oz. gold contained within 210,000 tonnes grading 8.64 grams gold, inferred.

Nicholas Lake lies some 8 km northeast of the Discovery mine area.

The mineralization on the property occurs within altered northeast-striking metavolcanic breccias that dip steeply to the northwest. The zones are often silicified and sulphidized and are up to 20 metres wide and some reach over 100 metres long.

Tyhee is gearing the work towards a prefeasibility study with engineering studies and baseline environmental work under way and underground operations set to restart soon.

Meanwhile, metallurgical studies confirm gold recoveries of over 94% using simple bulk cyanidation or flotation plus cyanidation techniques.