Tyhee To Finalize Termination of Shareholders Rights Plan and Redemption of all Outstanding Rights Issued Under Plan. Tyhee Retains GT Investor Relations Inc.

VANCOUVER, Aug. 19, 2011 /CNW/ --
TSX Venture: TDC

VANCOUVER, Aug. 19, 2011 /CNW/ - Tyhee Gold Corp. (TSXV: TDC) ('Tyhee'
or the 'Company') notes that, further to its news release of July 21,
2011, the Company announces that the Board of Directors has determined
to terminate (the 'Termination') the shareholders rights plan agreement
between the company and Computershare Corporation Trust Company of
Canada dated March 31, 2009 (the 'Rights Plan') and redeem all
outstanding rights issued thereunder (the 'Redemption').  The
Termination and Redemption will take effect 4:30pm Vancouver time on
August 19, 2011 (the 'Redemption Date').

The shareholders of the company approved the Termination and Redemption
at a special meeting of shareholders held August 17, 2011.  Of
shareholders who voted at the meeting in person or by proxy, 98% were
in favour of terminating the Rights Plan.

Shareholders who wish to receive their nominal payment of $0.0001 per
right must complete the Payment Form which was mailed to shareholders,
within ten days of the Redemption Date and return it to Computershare
Trust Company of Canada at 2(nd) Floor, 510 Burrard Street, Vancouver, BC V6C 3B9.

Tyhee also announces that it has retained the services of GT Investor
Relations Inc. ('GTIR') and its principal, Greg Taylor, to assist in
its investor relations. Subject to TSX-V approval, GTIR will be paid a
monthly fee of $5,000 for a minimum period of three months, with
potential extensions on a month-to-month basis.

GTIR will focus on supplementing and expanding the Company's
communications with the investment community through a comprehensive
investor relations program. Mr. Taylor has been providing investor
relations services to the mining industry for over fifteen years. 
GTIR's work will supplement Envoy Strategic Partners who will focus
their efforts on investors in eastern Canada.

Tyhee Development Corp. is a gold development company currently focused
on the historic Yellowknife Gold Camp, NWT, Canada. It is the largest
property holder in the historic camp, and has the largest gold
exploration and development program underway in the region. Its
principal asset is the advanced-stage Yellowknife Gold Project located
90 km (56 miles) north of Yellowknife, currently completing permitting
and Feasibility Studies.

Tyhee's shares trade on the TSX Venture Exchange under the symbol 'TDC'.
For additional information, please visit the Company's website, www.tyhee.com .

Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

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
forward-looking 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.

 _____________________________________________________________________
|Yellowknife Gold Projects Mineral Resources(1)                       |
|_____________________________________________________________________|
|         |          |Nicholas | Bruce |         |Goodwin  |          |
|Category |   Ormsby |Lake Main| Lake  |Clan Lake|Lake Vad |  Total   |
|         |    Zone  |         | Zone  |Main Zone|  Zone   |Resources |
|         |          |  Zone   |       |         |         |          |
|_________|__________|_________|_______|_________|_________|__________|
|Measured |          |         |       |         |         |          |
|_________|__________|_________|_______|_________|_________|__________|
|  Tonnes |3,003,000 |1,249,000|    -  |      -  |      -  |4,252,000 |
|_________|__________|_________|_______|_________|_________|__________|
|  Grams  |          |         |       |         |         |          |
|Gold per |    3.41  |   3.81  |    -  |      -  |      -  |    3.53  |
|  Tonne  |          |         |       |         |         |          |
|_________|__________|_________|_______|_________|_________|__________|
|  Troy   |          |         |       |         |         |          |
| Ounces, |  329,000 | 153,000 |   -   |      -  |      -  |  482,000 |
|  Gold   |          |         |       |         |         |          |
|_________|__________|_________|_______|_________|_________|__________|
|Indicated|          |         |       |         |         |          |
|_________|__________|_________|_______|_________|_________|__________|
|  Tonnes |7,898,000 |1,484,000|791,000|3,021,000|      -  |13,194,000|
|_________|__________|_________|_______|_________|_________|__________|
|  Grams  |          |         |       |         |         |          |
|Gold per |    3.42  |   3.32  |  3.31 |   3.64  |      -  |    3.45  |
|  Tonne  |          |         |       |         |         |          |
|_________|__________|_________|_______|_________|_________|__________|
|  Troy   |          |         |       |         |         |          |
| Ounces, |  869,000 | 158,000 |84,000 | 354,000 |      -  |1,465,000 |
|  Gold   |          |         |       |         |         |          |
|_________|__________|_________|_______|_________|_________|__________|
|Measured |          |         |       |         |         |          |
|   and   |          |         |       |         |         |          |
|Indicated|          |         |       |         |         |          |
|_________|__________|_________|_______|_________|_________|__________|
|  Tonnes |10,901,000|2,733,000|791,000|3,021,000|         |17,446,000|
|_________|__________|_________|_______|_________|_________|__________|
|  Grams  |          |         |       |         |         |          |
|Gold per |    3.42  |   3.54  |  3.31 |   3.64  |         |    3.47  |
|  Tonne  |          |         |       |         |         |          |
|_________|__________|_________|_______|_________|_________|__________|
|  Troy   |          |         |       |         |         |          |
| Ounces, |1,198,000 | 311,000 |84,000 | 354,000 |         |1,947,000 |
|  Gold   |          |         |       |         |         |          |
|_________|__________|_________|_______|_________|_________|__________|
|Inferred |          |         |       |         |         |          |
|_________|__________|_________|_______|_________|_________|__________|
|  Tonnes |  223,000 | 955,000 |396,000|      -  | 971,000 |2,545,000 |
|_________|__________|_________|_______|_________|_________|__________|
|  Grams  |          |         |       |         |         |          |
|Gold per |    3.14  |   3.92  |  2.76 |      -  |   2.91  |    3.29  |
|  Tonne  |          |         |       |         |         |          |
|_________|__________|_________|_______|_________|_________|__________|
|  Troy   |          |         |       |         |         |          |
| Ounces, |   23,000 | 120,000 |35,000 |      -  |  91,000 |  269,000 |
|  Gold   |          |         |       |         |         |          |
|_________|__________|_________|_______|_________|_________|__________|

(1) From 'Technical Report On The Pre-Feasibility Study Of The Yellowknife
Gold Project Northwest Territories, Canada July 2010 '  Mineral
Resources are in part inclusive of Mineral Reserves and comply with NI
43-101 standards.  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
reported as 65 gpt.  Samples were composited 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 delineated brecciated and silicified rocks for Ormsby, Bruce
Lake, Goodwin Lake VAD, and Clan Lake Main Zones.  An inverse distance
squared interpolation method is used for Nicholas Lake where two solids
have been created which divide the resource limits into the east and
west domains. Composites are created at 1.5 m lengths down the hole and
composite values are not capped.  The block model is created with
blocks 5 x 5 x 1.5 meters with the 1.5 meter distance oriented north
and in the horizontal plane.   Mineral Resources are not Mineral
Reserves and do not have demonstrated economic viability, and except as
reported, there is no guarantee that any resource will become a
reserve.

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