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November 1, 2012                            Series 13  Release 20                            TSX Venture: TDC

TYHEE ANNOUNCES FINAL CLOSING OF NON-BROKERED UNIT PRIVATE PLACEMENT AND SENIOR UNSECURED NOTE FINANCING

VANCOUVER, British Columbia – Tyhee Gold Corp. (TSX Venture, TDC) (the “Company”) announces that it has closed a final tranche of its non-brokered private placement on terms and conditions previously announced September 4, 2012.  In this closing, the Company issued 2,500,000 common shares and 2,500,000 common share purchase warrants for aggregate proceeds of $225,000.  Each Warrant entitles the holder to purchase a further 2,500,000 Shares in the Company at a price of $0.125 per Share, exercisable until October 29, 2014.  All securities issued in this closing are subject to a 4-month hold period until March 1, 2013.

The Company has also determined to raise up to $1,000,000 by issuing senior unsecured notes (the “Notes”).  The Notes are unsecured, bear interest at 10% per annum, and mature six months from the date of issuance.  Both principal and interest are payable on maturity.  The Company has issued $300,000 of Notes maturing April 29, 2013.

The funds will be used to advance its Yellowknife Gold Project, an advanced stage wholly-owned gold project in the feasibility study and permitting stage, as well as for general corporate purposes.

 

For further information please contact:

Greg Taylor
GT Investor Relations Inc.
O: 905 337-7673 C: 416 605-5120
gtaylor@tyhee.com
 
Brian Briggs
President – Tyhee Gold
T: 604 681-2877
info@tyhee.com
 
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