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TYHEE TO RAISE UP TO $6 MILLION

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BRITISH COLUMBIA--(Dec. 16, 2011) - Tyhee Gold Corp. (TSX VENTURE:TDC) (the “Company”) announces it has agreed to raise up to $5 million in a best efforts private placement of units to be completed by Euro Pacific Canada Inc. and Byron Capital Markets Ltd. (the "Agents"). The Agents will be granted the right to issue an additional $1 million worth of units at identical terms exercisable 48 hours before the final closing. The Company will issue up to 66.67 million units at $0.09 per unit consisting of one previously unissued share and one non-transferable share purchase warrant. Each share purchase warrant and $0.125 will enable a subscriber to acquire an additional share in the Company within 24 months of closing.

The Agents will be paid cash compensation equal to 6% of the total funds raised in addition to nontransferable broker warrants equal to 6% of the total number of units issued on closing. Each broker warrant will be exercisable into shares of the Company at $0.09 per share for a period of 24 months after closing.

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. A Feasibility Study, lead by SRK Consulting, is underway and expected to be completed by mid-2012. It will build on the positive Preliminary Feasibility Study completed in July 2010, which recommended operating at 3,000 tonnes per day. The Feasibility Study will also consider an expanded resource as well as other updated inputs, including a more current gold price.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.

Tyhee's shares trade on the TSX Venture Exchange under the symbol "TDC". For additional information, please browse this website, or www.sedar.com.


For further information, please contact:

Greg Taylor
GT Investor Relations Inc.
T: 905.337.7673   C: 416.605.5120
gtaylor@tyhee.com

Jay Bedard
Envoy Strategic Partners
T: 416.977.7778
jay@envoystrategicpartners.com

Brian Briggs
President, Tyhee Gold
T: 604.681.2877
info@tyhee.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.
All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are “forward-looking statements”. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. Forward-looking statements are not guarantees of future performance, and actual results and future events could materially differ from those anticipated in such statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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