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Posted on the Tyhee blog (hubert/shizamaru).

VANCOUVER, British Columbia (Monday November 1, 2010) -- Tyhee Development Corp.

(TSX Venture, TDC) (the “Company”) has closed on an initial $4,759,000. Tyhee will issue 31.2

million units at $0.10 per unit to raise $3.12 million and 13,658,332 flow through units at $0.12

per unit to raise $1,639,000. 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. All

warrants will expire prior to 24 months if the weighted average closing price of the Company’s

common shares is at or above $0.20 for a period of 20 consecutive trading days, 30 days after

notice of such event is given. The funds will be used for exploration purposes, further

permitting, engineering studies, and general corporate purposes. The Company has received

subscriptions for an additional 500,000 units at $0.10 per unit and expects to complete a second

closing within the next 10 days.

The Company will pay Loewen, Ondaatje, McCutcheon Limited (“LOM”) a cash commission

equal to 7% of the proceeds of the sale of the flow through units by 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. LOM has been granted the option to over allot the private placement by

25% to cover oversubscriptions. All securities issued in this closing will be subject to a hold

period which expires March 1, 2011.

Diamond drilling will initially focus on the newly discovered Spud Zone, located 200 metres west

of the Clan Lake Main Zone which is host to a 354,000 ounces indicated gold resource (in part

inclusive of 34,000 ounces of Probable Reserves). Drilling should start by mid-November and

will continue until the Christmas break. The Spud Zone has been traced on surface for 600

metres and has returned significant gold values from grab samples collected by samplers.

Drilling is also proposed on the 330, Bear and Morel Zones as well as the strike extensions of

the Main Zone.

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

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