Tyhee Development Corp Discovers Two New Gold Zones on Yellowknife Gold Project and Drilling Continues to Expand the Clan Lake Main Zone

TSX Venture: TDC

VANCOUVER, Aug. 11 /PRNewswire-FirstCall/ - Tyhee Development Corp. (TSX-V, TDC) (the "Company") is pleased to announce the discovery of two new gold zones on its Yellowknife Gold Project, Northwest Territories, Canada. These new gold zones, The Bear and The Spud Zones, were discovered within the 7 kilometre long, 1.2 kilometre wide Clan Lake Structure which now hosts eight gold zones.

The new gold zones are areas of elevated gold content, shown by grab sample assays within a lithological and structural setting consistent with the Main Zone. The gold is associated with quartz veins, silicification and sericitization of host rocks. Sulphide mineralization includes pyrrhotite, arsenopyrite and occasional trace galena, sphalerite and chalcopyrite.

The Bear Zone, approximately 100 metres wide and 700 metres in length, is hosted by intermediate volcanic rocks and a gabbro intrusive body. The zone is 150 metres to the northeast and parallel to the Clan Lake Main Zone which hosts a 354,000 ounce of Measured and Indicated Gold Resource including 38,400 ounces Probable Reserves. (see press release dated July 22, 2010). Fire assay results from 18 grab samples range from 0.5 gpt gold up to 10.67 gpt gold.

The Spud zone appears to be as much as 600 metres in length, 150 metres to the south-west and parallel to the Main Zone. The Spud Zone is hosted in intermediate to felsic volcanic rocks. Fire assay results from 17 grab samples range from 0.5 gpt gold up to 82.33 gpt gold.

Dave Webb, President & CEO of Tyhee reports "Tyhee continues to increase the potential of the Yellowknife Gold Project at Clan Lake where a 1,200 metre wide mineralized structure has been traced for over 7 kilometres. This structure hosts large zones of gold mineralization set in an en echelon pattern. A 2,000 metre portion of this structure (1,200 to 1,500 metres exposed) contains an aggregate width of 600 m in five gold zones."

Results from an additional three diamond drillholes have been received and have expanded the Clan Lake Main Zone by another 200 metres. Results include 77.5 metres of 0.80 gpt gold including 4.5 m of 7.37 gpt in CL166, 30.0 metres of 1.11 gpt gold including 12.5 m of 1.84 gpt gold in CL165. Results from three additional drillholes and further surface samples are pending.

Tyhee has two drill rigs at Clan Lake and one at the Ormsby Zone, all of which are on standby pending further review of the recent results.

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).

Tyhee completes fire assays on drill core samples using 30 gram aliquots with ICP-ES finish for gold analyses, prepared at Acme Analytical Laboratories Ltd. in Yellowknife, and finished at Acme Analytical Laboratories Ltd in Vancouver. As well, a semi-quantitative multi-element analysis is run on 0.5 gm aliquot samples leached in a hot aqua regia solution and measured using ICP-ES techniques. Tyhee conducts a rigorous QA/QC program of inserting blanks and duplicates in the field and standards in the laboratory. The laboratory also conducted their own independent QA/QC program including inserting their own standards and rerunning samples from pulped material and reject material. These results were provided to Tyhee. All standards, duplicates, blanks and check assays returned acceptable results. Mr. V. Pratico, P.Geol., the designated QP within the meaning of NI 43-101, has reviewed this release and approves of its content.

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.

    Recent diamond drillhole results from Clan Lake Main Zone.
                From         To           width      Gold Grade
    DDH        (metres)     (metres)     (metres)   (gpt)
    CL163       151.0        152.5         1.5         3.43
    CL165       120.0        125.0         5.0         1.23
       and      167.0        197.0        30.0         1.11
    incl.       167.0        179.5        12.5         1.84
       and      237.0        239.0         2.0        11.98
       and      272.0        274.0         2.0         1.59
       and      309.8        310.8         1.0         1.35
       and      324.5        326.0         1.5         1.06
       and      341.0        342.0         1.0         2.75
       and      352.0        353.0         1.0         2.23
    CL166        35.0         40.0         5.0         2.60
       and      155.0        156.5         1.5         3.00
       and      181.0        183.0         2.0         1.35
       and      189.0        191.0         2.0         1.45
       and      218.0        295.5        77.5         0.80
    incl.       231.0        232.0         1.0         7.75
       and      246.2        248.0         1.8         2.52
       and      279.0        283.5         4.5         7.37
       and      292.8        294.0         1.3         2.10
    True widths are not known but are estimated to be greater than 80% of the
    reported widths (core lengths)

SOURCE Tyhee Development Corp.

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED