Why Is Tyhee Doing a Feasibility Study.

Didn't We Think a PFS Would Be Enough to Fund the YGP into production? That's what I thought, so what changed? I asked, and here, paraphrased, is what Dr. Webb answered this afternoon.

Hi Dave,

How are you?

While meeting with you in New York last month, I forgot to ask you one of the most important questions that I could have possibly have asked, but didn't.

That is, what was it that changed that caused you to plan on initiating a Feasibility Study, when, prior to last month, you were saying to me and to others that the banks told you that a robust PFS alone would be sufficient to provide the funds necessary to go into production.

My best,

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Dave's response:

There are a number of reasons, but these two are the critical ones:

1. A Feasibility Study significantly increase our access to more financial sources, and therefore better rates, and,

2. Tyhee's projects are progressing each day, so getting financed based solely on a PFS today, would ignore the increasing resources to be found post-publication.

I also asked Dave if the Feasibility Study would delay the scheduled opening of Tyhee’s mine in 2013.

Dave said, NO.

Thank you Dave,

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