TYHEE DEVELOPMENT CORP REPORTS START-UP OF SUMMER DRILL PROGRAM AT CLAN LAKE, YELLOWKNIFE GOLD PROJECT
VANCOUVER, British Columbia (Monday May 31, 2010) -- Tyhee Development Corp. (TSX Venture, TDC) (the “Company”) is pleased to announce the re-start of its 2010 diamond drill program at Clan Lake, Yellowknife Gold Project. This program will see a further 4,000 metres +/- of diamond drilling on the Clan Lake Main Zone.
Tyhee’s spring drill program included 485 metres in 16 drillholes on the Ormsby Zone and 7,140 metres in 21 drillholes on the Clan Lake Main Zone. Reporting for this program will continue over the next few weeks as 6 diamond drillholes remain to be reported.
Tyhee has filed a response to the Mackenzie Valley Environmental Impact Board, stating that it anticipates submitting its Developers Assessment Report in the forth quarter of this year. This delay is due to several factors, primarily a change in primary consultants as well as limited access to the remaining consultants during the summer field season.
Tyhee also announces the retirement of Mr. Roger G. Sylvestre from the management and the board of Tyhee. Roger was a founder of the company and has spent the past 18 years building Tyhee. As a former diamond drill company owner/operator Roger has worked more than 50 years in the mining industry. He used his knowledge to successfully manage the logistics and execution of our exploration and development programs. He will remain available to the company for consulting services on an ad hoc basis. The board and management of Tyhee would like to extend a heartfelt thanks to Roger for the many years of service to the company.
Tyhee Development Corp. is a gold exploration and development company working to start gold production in the historic Yellowknife Gold Camp, NWT, Canada. It is the largest property holder in this camp and has the largest exploration and development program underway in the region. Its principal asset, the Yellowknife Gold Project includes the Nicholas Lake, Ormsby, Bruce, Goodwin Lake, and Clan Lake Gold Zones. All are located on mineral claims and mining leases 50 to 90 km north of Yellowknife, NWT and are expected to feed a single milling operation. (Note: only Nicholas Lake and Ormsby Zones are being included for permitting purposes).
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President and CEO
Envoy Strategic Partners
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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.