Yellowknife Gold Project
Reserves and Resources

The Yellowknife Gold Project contains the Ormsby Zone, the Bruce Zone, the Nicholas Zone, the Clan Main Zone and the Goodwin Vad Zone.The resource estimates are based on geological models for which the nature and orientation of the mineralization is derived from the results of diamond drilling programs, underground mapping and sampling of decline development as well as on an extensive amount of technical data obtained during previous exploration programs. The figures are rounded for presentation. The resource estimates incorporate all of the data available as of July 2010 and conform to National Instrument 43-101 policies. Lara Regin, P.Geol., the designated QP within the meaning of NI 43-101, has reviewed this resource summary and approves of its content.

Preliminary Assessment of the Yellowknife Gold ProjecReport on the Resource Estimate of the Yellowknife Gold Project, District of Mackenzie, NWT, Canada

Yellowknife Gold Projects Mineral Resources1

Category

Ormsby Zone

Nicholas Lake Main Zone

Bruce Lake Zone

Clan Lake Main Zone

Goodwin Lake Vad Zone

Total Resources

Measured

Tonnes

3,003,000

1,249,000

-

-

-

4,252,000

Grams Gold per Tonne

3.41

3.81

-

-

-

3.53

 Troy Ounces, Gold

329,000

153,000

-

-

-

482,000

Indicated

Tonnes

7,898,000

1,484,000

791,000

3,021,000

-

13,194,000

Grams Gold per Tonne

3.42

3.32

3.31

3.64

-

3.45

Troy Ounces, Gold

869,000

158,000

84,000

354,000

-

1,465,000

Inferred

Tonnes

223,000

955,000

396,000

-

971,000

2,545,000

Grams Gold per Tonne

3.14

3.92

2.76

-

2.91

3.29

Troy Ounces, Gold

23,000

120,000

35,000

-

91,000

269,000


Yellowknife Gold Projects Mineral Reserves1

Category

Ormsby Zone
Open Pit

Ormsby Zone
Underground

Nicholas Lake
Underground

Clan Lake
Open Pit

Total Reserves

Proven

Tonnes

2,788,000

134,000

-

2,922,000

Grams Gold per Tonne
In Situ

3.02

7.06

-

3.20

Troy Ounces, Gold
Recovered

248,800

27,400

-

276,200

Probable

Tonnes

2,378,000

976,000

841,000

441,000

4,636,000

Grams Gold per Tonne
In Situ

3.41

5.60

3.91

2.95

3.92

Troy Ounces, Gold
Recovered

239,900

161,500

95,200

38,400

535,000

Total

Tonnes

5,166,000

976,000

975,000

441,000

7,558,000

Grams Gold per Tonne
Recovered

2.94

5.15

3.92

2.71

3.34

Troy Ounces, Gold

Recovered

488,700

161,500

122,600

38,400

811,200

1 Mineral Resources are in part inclusive of Mineral Reserves and comply with NI 43-101 standards.  Proven and Probable Reserves are determined using recovered gold values based upon a US$950 per ounce gold price and a $US:$CAD exchange rate of 0.93.  Open pit reserves are established using a 3D Whittle optimization (Gemcom Whittle 4x).  Underground Probable Reserves are determined using a 2.5 gpt cut-off. Mineral Resources for Ormsby, Bruce, Goodwin Vad and Clan Main Zones are at a 1.25 gpt cut-off. The Nicholas Lake Zone is at a 1.1 gpt cut-off.  Samples greater than 65 gpt gold were cut and repor ted as 65 gpt.  Samples were composi ted into 1.5 m lengths.  Inverse distance squared techniques were used to estimate 3 m cubic blocks using an 80 m x 40 m x 10 m search ellipsoid within a geological model that delinea ted breccia ted and silicified rocks.  Mineral Resources are not Mineral Reserves and do not have demonstra ted economic viability, and except as repor ted , there is no guarantee that any resource will become a reserve.

The resource estimates are based on geological models for which the nature and orientation of the mineralization is derived from observation of underground and surface exposures and diamond drill core. Cut-off grades are suppor ted by the report prepared for Tyhee Development Corp entitled “NI 43-101 Technical Report on the Preliminary Assessment of the Yellowknife Gold Project” da ted August 30, 2008. Details for Ormsby, Nicholas Lake , Bruce and Goodwin are disclosed in a report prepared for Tyhee Development Corp entitled “Report on the Resource Estimate of the Yellowknife Gold Project” da ted March 4, 2009.  Details for Ormsby, Nicholas Lake and Clan Lake are upda ted and revised in a report for Tyhee Gold Corp entitled “TECHNICAL REPORT ON THE PRE-FEASIBILITY STUDY OF THE YELLOWKNIFE GOLD PROJECT NORTHWEST TERRITORIES, CANADA “ da ted July 22, 2010 available on www.SEDAR.com or www.tyhee.com

 

 

Tyhee Development Corp. All rights reserved.
Last updated February 9, 2011