Yellowknife Gold Project - Development

Tyhee has developed the Ormsby deposit with 959 metres of decline, two subdrifts along mineralized zones including 6800 tonnes of stockpiled ore on surface. A total of 81,372 metres of core has been drilled, both surface and underground.

Development of the Nicholas Lake deposit consists of a decline and subdrifts in the A-2 Vein and A-6 Zone at approximately 90 metres below surface. Mineralized rock from the subdrifts are stockpiled on surface . A total of 15,374 metres of drill core in 71 drill holes has been drilled from surface.

Preliminary Assessment of the Yellowknife Gold Project decribes the preliminary economics of the Yellowknife Gold project. Readers are cautioned that the preliminary assessment is based upon mineral resources, mineral resources are not mineral reserves, and do not have demonstrated economic viability. The Preliminary Assessment is based on a number of assumptions which are set out in the Report.