THE ENVIRONMENTAL ASSESSMENT PROCESS MOVES TO INFORMATION REQUEST PHASE FOR TYHEE’S WHOLLY-OWNED YELLOWKNIFE GOLD PROJECT, NORTHWEST TERRITORIES, CANADA
VANCOUVER, British Columbia -- Tyhee Gold Corp. (TSX Venture, TDC) (the “Company”) announces progress on the Environmental Assessment Process to permit construction and operation of a 3,000 tonne per day mine and mill complex at its wholly-owned Yellowknife Gold Project, NWT, Canada. The Mackenzie Valley Environmental Impact Review Board (MVEIRB) announced that it has decided to move the environmental assessment of Tyhee NWT Corp.’s Yellowknife Gold Project to the next stage of the process – the Information Request phase.
Tyhee was also informed that the Review Board will release a workplan for the remainder of this environmental assessment by the end of August.
“We are pleased to see progress in the development of our Yellowknife Gold Project” reports Dr. Dave Webb, President & CEO. “Tyhee submitted an application to construct and operate up to a 4,000 tonne per day mine and mill complex on its Yellowknife Gold Project to the Mackenzie Valley Land and Water Board in September 2008 and has seen steady progress through the system. This announcement sets in motion the process where the MVEIRB will issue information requests to Tyhee based on the data and information submitted in the Developers Assessment Report in May 2011. It is expected that these information requests will coincide with the receipt of the workplan mentioned above. Tyhee anticipates completion of this phase by mid 2012 and receipt of approvals to commence licensing for construction and operation shortly thereafter.”
Tyhee Gold Corp. is actively moving its wholly-owned Yellowknife Gold Project towards production. A Feasibility Study is underway, lead by SRK Consulting, and is expected to be completed by mid 2012. It will build on the positive Preliminary Feasibility Study completed in July 2010 that recommended operating at 3,000 tonnes per day, (www.sedar.com). The Feasibility Study will consider an expanded resource and a more current gold price as well as other updated inputs.
Tyhee’s shares trade on the TSX Venture Exchange under the symbol “TDC”. For additional
information, please browse our website.
For further information, please contact:
Envoy Strategic Partners
President and CEO
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.
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.