Tyhee Development Corp.

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.

Report 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.