TYHEE GOLD CORP ANNOUNCES THE APPROVAL OF ALL RESOLUTIONS AT ITS AGM AND THE APPOINTMENT OF HANS BLACK TO THE BOARD OF DIRECTORS
VANCOUVER, British Columbia (Tuesday May 17, 2011) -- Tyhee Gold Corp. (TSX Venture, TDC) (the “Company”), a late stage development company, is pleased to announce that all resolutions proposed by management have been approved at its annual and special meeting held May 12, 2011. Dr. Hans Black agreed to join our board of directors and Mr. William (Bill) Burton retired from our board of directors, effective as of May 12, 2011.
Dr. Black is a native of Europe and received his Bachelor of Science degree, magna cum laude, from Union College in New York, where he was elected a Phi Beta Kappa scholar. He studied law in France and subsequently graduated from McGill University in Montreal with a Doctorate in Medicine. In the mid 1970’s, Dr. Black organized Interinvest in Montreal as a global money management firm affiliated with his family’s investment business in Zurich. Today, Interinvest manages accounts for private and institutional clients who are serviced through offices in Boston and Montreal, and its affiliated offices in Bermuda, London and Zurich. Dr. Black has been widely quoted, appearing in publications such as Barron’s, The International Herald Tribune, The Financial Times, Euromoney and The Wall Street Transcript. In addition, he appears frequently as a special guest on the PBS Network show The Nightly Business Report. Dr. Black has been asked to address numerous groups of professional and private investors around the U.S. and Canada, including the National Association of Business Economists. He has also been a guest lecturer at both Harvard and McGill universities. Dr. Black is a member of the board of Wi2Wi Inc., a member of the board of Amorfix Life Sciences Ltd., a member of the board of RPMH Global Macro Fund Ltd., a member of the board of the Montreal Symphony Orchestra, a member of the advisory council of The Paul H. Nitze School of Advanced International Studies of Johns Hopkins University, and a member of the board of trustees of the Washington National Opera. He is also a member of the board of governors of Les amis de la Montagne, Montreal. In addition, he serves as chairman of the board of the Quebec-based food company, Les Aliments Soyummi Inc., as well as chairman of the board of the McGill Chamber Orchestra.
Denis Taschuk, Chairman reports “Tyhee Gold Corp welcomes Dr. Black to the board and sees his skill sets in finance and corporate governance contributing to the company as it transforms itself into an producing gold company. At the same time we are sorry to see Bill Burton leave the board. We understand that other business is taking a greater amount of Bill’s time, making it more difficult for him to find the time to effectively provide guidance to Tyhee as we move towards production.”
Additional drill results are pending from the Ormsby Zone, and Clan Lake Main Zone, and should be available within one or two weeks. Tyhee Gold Corp. is actively moving its wholly-owned Yellowknife Gold Project towards production with a defined resource of 2 million ounces of gold in its Measured and Indicated categories and in part including a Proven and Probable Reserve of over 800,000 ounces of gold. A positive Preliminary Feasibility Study has been completed and applications to construct and operate a 3,000 tonne per day mine and mill complex have been submitted to regulatory authorities. Tyhee is moving towards through the final stages of this review process with the submission of the environmental assessment study last week.
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This news release contains "forward-looking statements" within the meaning of applicable securities laws, including statements relating to proposed or anticipated work programs and anticipated timing of permit applications. 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 proceed with anticipated work programs, construction or development projects and studies, to delay permit applications or delay the delivery of the feasibility study include factors such as 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, insufficient funding, 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 forwardlooking 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. Readers should not place undue reliance on forward-looking statements.