VANCOUVER, British Columbia, Oct. 30, 2003 (PRIMEZONE) -- Howlett Research Corp. (www.howlett-research.com), a boutique research firm led by Jeff Howlett, President, announced today that it has recently published a comprehensive research report on Tyhee Development Corp. (TSX Venture Exchange:TDC), a company with a 100% ownership in the Yellowknife Gold Project, an advanced gold exploration and development project located in Canada's Northwest Territories.
The full report can be found at www.howlett-research.com/Research.htm.
In 2001, Tyhee consolidated two properties, the Discovery Mine Property and Nicholas Lake Property, located at the northern portion of the prolific Yellowknife Greenstone Belt. From 1949 through 1968, the Discovery Mine produced over 1 million ounces of gold and had the highest grades of any deposits in the area. Since the mine was closed, over 50,000 meters of drilling and 215 meters of underground development have been completed at the Discovery Mine. Since 1988, Nicholas Lake has had nearly 20,000 meters of drilling and 820 meters of underground development. Work to date has outlined 3 significant gold deposits (Discovery Mine/West, Ormsby, Nicholas Lake).
Since closure in 1968, efforts have centered on identifying high-grade veins, which continues to prove successful. However, in the 1990's, attention turned to the Ormsby Zone, where the volcanic rocks were shown to contain wider spread disseminated gold mineralization in addition to high-grade veins. Drilling has been and continues to be successful -- the Ormsby deposit is open to the west, north, east, and at depth. In addition, the Discovery Mine West (which saw previous mining) is similar in nature to the Ormsby Zone and has been recently drilled with positive results.
A scoping study recently concluded that "there is potential for a viable underground mining operation at the Yellowknife Gold Project" (Tyhee news release 10/21/03).
About Howlett Research Corp.
Based on British Columbia's Sunshine Coast, Howlett Research Corp. has been completing company specific research reports for a range of publicly listed companies for well over 10 years in a variety of industry sectors. The reports are developed for quality junior to medium sized companies that lack adequate coverage by the financial community. These reports attempt to explain how the company is positioned in its competitive environment, along with what its business development/growth strategy and associated market potential is.
Howlett Research Corp. has accepted a cash fee of under $10,000 from Tyhee Development Corp. in preparing the research report which represents the total consideration due. Howlett Research Corp. has not been involved in, nor does it envision participating in any transaction or investment banking business related to Tyhee Development Corp. Howlett Research Corp. does not own shares of Tyhee Development Corp. and does not trade in its shares.
Statements included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand and the Company's ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects, and internal issues in the sponsoring client.