TYHEE ANNOUNCES MANAGEMENT CHANGE
VANCOUVER, British Columbia -- Tyhee Gold Corp. (TSX Venture: TDC) (the “Company”) announces that effective immediately Dr. David Webb has been replaced as Chief Executive Officer and President of the Company, and as President and Director of Tyhee N.W.T. Corp., the Company’s wholly owned Northwest Territories operating company.
Mr. Brian Briggs, P. Eng., the Company’s Vice President of Engineering and Project Manager for the Yellowknife Gold Project, has been appointed interim CEO. Mr. Briggs is a Registered Professional Mining Engineer and holds both B.S. and M.S. degrees in Engineering from the University of Wyoming. Mr. Briggs’ diverse and distinguished career encompasses over 23 years’ experience in all phases of mine operations and mine development in North America, Africa and Asia.
Mr. Briggs’ began his career as a mining engineer with Shell Mining Company followed by a stint with Kennecott Energy in the 90’s. In 1999 Mr. Briggs left Kennecott to work on various precious and base metals mining projects in the U.S., Ghana, Liberia, Cameroon, and Canada holding positions as President and COO as well as a number of other senior management roles focused primarily on project evaluation, development, and construction where he advanced a number of advanced green field exploration projects into producers in highly remote locations world-wide. Prior to joining Tyhee in May of 2011, Mr. Briggs worked with Geovic Mining Corp where he was Vice President of Technical Services and successfully concluded the Bankable Feasibility Study for Geovic Cameroon’s Nkamouna project.
The Company is focused on rapidly developing its Yellowknife Gold Project, an advanced stage whollyowned gold project currently in the final stages of a Feasibility Study as well as the Developer’s Assessment Review. The Feasibility Study currently led by Mr. Briggs’, with SRK Consulting as the lead consultant, is on schedule for mid-2012 completion and is expected to improve upon project fundamentals given in the Pre-Feasibility Study completed in July 2010. The Company is also proceeding with its previously announced financing.
Mr. Denis Taschuk, Chairman of the Board, stated “We expect 2012 will be an extremely exciting year for Tyhee as we look forward to the results of the Feasibility Study, advancement of the DAR and other important milestones on the road to building the Yellowknife Gold Project. We feel that Mr. Briggs is extremely well suited to guide the Company through these final stages towards mine development.”
Tyhee’s shares trade on the TSX Venture Exchange under the symbol “TDC”. For additional information, please browse our website, or visit www.sedar.com.
For further information, please contact:
GT Investor Relations Inc.
T: 905.337.7673 C: 416.605.5120
Envoy Strategic Partners
Chairman, Tyhee Gold
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.