Tyhee Development Corp. Announces Final Closing of Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, Nov. 16 /CNW/ - Tyhee Development Corp. (TSX Venture, TDC) (the "Company") has closed on an additional $2,376,440 of its previously announced private placement. This closing brings the total proceeds received to over $7.1 million. Tyhee will issue 11.3 million units at $0.10 per unit to raise $1.13 million and 10,387,000 flow through units at $0.12 per unit to raise $1,246,440. Each unit will consist of one share and one half of a warrant. Each full warrant and $0.125 will be exercisable into one share for a period of 24 months.

The Company paid Loewen, Ondaatje, McCutcheon Limited ("LOM") a cash commission equal to 7% of the proceeds of the sale of the flow through units by LOM. The Company also paid LOM a cash commission equal to 6% of the proceeds of the sale of the non-flow through units and will issue to LOM warrants to purchase such number of units as is equal to 6% of the number of non-flow through units sold in the private placement at a price of $0.10 per share, exercisable for a period of 15 months from closing. All warrants will expire prior to 24 months if the share price closes at or above $0.20 for a period of 20 days, 30 days after notice is given. The funds will be used for exploration purposes, further permitting, engineering studies, and general corporate purposes.

Dave Webb, President & CEO reports "these funds will allow the company to A) continue exploration of its promising new zones, B) ensure continued development by engineering and permitting of the established reserves, and C) ensure the sustainability of the company."

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Tyhee Development Corp. is a gold exploration and development company working 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 is 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.



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For further information:

Tyhee Gold Corp.
David Webb, President and CEO
Tel: 604-681-2877
info@tyhee.com
www.tyhee.com

Envoy Strategic Partners
Jay Bedard
Tel: 416-977-7778
jay@envoystrategicpartners.com