Tagish Lake Gold Corp.

COMPANY DATA | INTRODUCTION |  PROJECT IN HAND |  MANAGEMENT
NEWS UPDATE | CHINESE

COMPANY DATA

INTRODUCTION

Tagish Lake Gold Corp. is a Canadian company that explores for and develops high-grade gold-silver mineral deposits in the Yukon Territory of Canada. The Company is currently focused on its wholly-owned Skukum Mineral District, located one hour by road southwest of Whitehorse. The Skukum Mineral District holds three known gold-silver deposits and several identified exploration targets.

In February 2006, Tagish Lake Gold closed private placements for gross proceeds of CDN$2,328,000. Proceeds are being used to fund exploration on the Skukum Creek deposit, and for corporate expenses. Extension of the underground workings at Skukum Creek now completed is being followed by a 6,500-metre diamond drill program, which is currently underway.

Corporate Strategy

Tagish Lake Gold's objective is to develop and profitably mine the high-grade gold-silver deposits, using a state-of-the-art, environmentally sound approach. The first step in this process (to consolidate the district) was achieved in the 2000 corporate restructuring. Current and future efforts are focused on moving to production by adding additional mineral resource through continued deposit definition, converting resources to reserves and completing environmental and process studies and permitting.

PROJECT IN HAND

Skukum Mineral District

Skukum is located approximately 80 km, by road, southwest of Whitehorse. The Yukon Government maintains the road system to within 20 km of the property. The property consists of 987 mining claims on 178 sq.km. To date, three mineral deposits have been identified. They are: Skukum Creek (gold-silver), Goddell Gully (gold) and Mt. Skukum (gold). Several other exploration targets have also been identified. Mt. Skukum Mine operated between 1986 and 1988, producing 77,796 ounces of gold. The 270 t/d mill from that operation is owned by Tagish Lake Gold Corp., and can be upgraded to process ores from all three deposits.

(1) Skukum Creek Deposit
Skukum Creek deposit consists of six identified mineralized zones structurally controlled within steeply-dipping shear zones, hosted in mid-cretaceous granodiorites. These zones, consisting of quartz-sulfite breccia and quartz-carbonate veins, vary in thickness from a few centimetres to 20 metres. The two principal zones are Rainbow (strike length of 265 metres and extending 360 metres down-dip from the surface); and Kuhn (strike length of 200 metres and extending 350 metres down-dip from surface). Both zones are open along strike and at depth.

(2) Goddell Gully Deposit
Goddell Gully deposit located five km to the east of the Mt. Skukum mill, is a fault-controlled gold-antimony deposit, also hosted in the mid-cretaceous granodiorites. It consists of multiple sub-parallel veins within a 50-metre-wide zone of intense shearing, brecciation and alteration. The main gold-bearing zone (P.D. Zone), located 400 metres below surface, has been explored over a 400-metre strike length and 170 metres of vertical extent. It remains open in all directions.

(3) Mt. Skukum Deposit
Mt. Skukum deposit located five km northwest of Skukum Creek, is hosted in pyroclastic and prophyritic andesitic rocks in the Mt. Skukum Volcanic Caldera Complex. Gold mineralization at Mt. Skukum is associated with epithermal quartz-carbonate veining. Three zones have been identified. The Main Cirque Zone ranged from one to 40 metres in width, and was mined in 1986 - 1988. The Lake Zone contains inferred gold resources and consists of three sub-parallel steeply-dipping veins. The Brandy Zone occurs as a narrow, high-grade stockwork of veins.

Exploration Potential

Literally hundreds of gold showings have been identified on the property, and several areas have excellent potential for the discovery of additional deposits. Two areas with high potential are the Ridge Zone, the western extension of the Kuhn Zone, with a drill intercept of 8.44 g/t gold and 260 g/t silver over 11.67 metres; and the Rainbow Zone, with several drill intercepts, including 10.59 g/t gold and 89.4 g/t silver, over 10.59 metres. The zones are open and will be defined with the current drilling program.

Resource Inventory

Resource estimate for the Skukum Creek and Goddell Gully deposits were calculated by MineTech in 2003. Presently, there are a total of 435,000 in situ gold ounces and 6,141,000 in situ silver ounces.

Pre-Feasibility Study

The Pre-Feasibility Study, updated in 2005, was based on the resource estimate and, using US$500 gold, US$7.50 silver and CDN$0.80 exchange rate, indicated a net cash flow of CDN$16 million and pre-tax IIR of 20.7%. The study assumed a through-put rate of 300,000 tonnes per year, at a grade of 5.64 g/t gold, and 178 g/t silver, and estimated average operating costs of CDN$70.13 per tonne. An external dilution rate of 20 per cent at zero was used. The projected production was 49,000 ounces of gold and 860,000 ounces of silver for every full year of operation. A combination of sub-level retreat and shrinkage-stopping mining methods were modeled. Metal recoveries were estimated at 90 per cent for gold and 50 per cent for silver.

MANAGEMENT

Tagish Lake Gold Corp. has a well management team with experience in different areas.

T. Gregory Hawkins, P. Geo., M.Sc., Chairman and Director
Mr. Hawkins has over 30 years experience in mineral exploration in Canada and internationally. He is presently the Director of CME and Company, and Managing Director of CME (Ghana) Ltd. He was a former Vice-President and Director of MPH Consulting Ltd., and is a former President of CME Consulting Ltd.

Robert J. Rodger, P. Eng., President and Director
Mr. Rodger has over 30 years diversified experience in mining, including project manager, project engineer and operations manager. He has an extensive background in project management, project evaluation, monitoring and feasibility studies. Previously he worked as a consultant to the World Bank and Indian and Northern Affairs, Canada in the Yukon.

Stuart Ross, CFO, Secretary and Director
Mr. Ross has extensive expertise in strategic acquisitions and corporate financing. He is Vice-President, Finance of Dueck GM, Vancouver. Previously he was Chief Financial Officer and a Director of the Clearly Canadian Beverage Corporation.

Robert C. Bryce, Ing. B.Sc., MBA, FCIMM, Director
Mr. Bryce has 30 years mining management and administration experience. He is currently President of Abitex Resources, Inc. and is a director of several mining companies. He is a former Vice-President of Aur Resources, Inc. and General Manager of Les Mines Selbaie.

Charles de Chezelles, Director
Mr. de Chezelles is an acknowledged financial industry expert. He is currently Managing Director of Omega Trust Company Ltd., and sits on the Board of several financial companies and Trusts. Past positions include: Executive Director, Credit Suisse-First Boston (CFSB); Director, First Boston Europe; Vice-President, The First Boston Corporation and Investment Analyst, Stralem & Company.

Barry Way, Manager of Exploration
Mr. Way has a diversified background in all aspects of mineral exploration in Canada and abroad, including extensive experience in the geology and exploration of high-grade underground mines. Based in Whitehorse, YT, Mr. Way manages the exploration program, identifies and evaluates exploration projects in the Yukon for acquisition by Tagish Lake Gold Corp.

NEWS UPDATE

On March 02, 2007 Tagish Lake Gold Corp. has provided information on work in the next steps in moving to production. The contractor for the next phrase of underground work at Skukum Creek is presently excavating drifts and raises on the Rainbow Two and Berg zones outlined in the diamond drilling program. This work will allow the company to estimate resources in the measured and indicated categories on these zones, It will also provide essential information on appropriate mining methods for the zones.

On March 01, 2007 Tagish Lake Gold Corp. has closed the previously announced non-brokered private placement of units with Macquarie Bank Ltd. for gross proceeds of $500,000 on November 20, 2006. In addition, the company has closed the previously announced non-brokered private placement of shares for gross proceeds of $155,000 with one of its directors on January 26, 2007. Proceeds from these offerings will be used for the company's exploration program at Skukum Creek and for working capital.

On February 26, 2007 TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on January 10, 2007. Shares: 2,777,777 Price: 18 cents.

On February 14, 2007 The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced January 26, 2007.

On January 26, 2007 Tagish Lake Gold Corp.'s work during the past year has allowed the company to achieve its objective, and TLG will take the next steps in moving to production. The company will be signing a memorandum of understanding with the Carcross/Tagish First Nation (CTFN) on January 29, 2007.

On January 18, 2007 The Carcross/Tagish First Nation (CTFN) and Tagish Lake Gold Corp. (TLG) have concluded a memorandum of understanding (MOU) covering the values, principles and shared interests of the CTFN and TLG. These will be incorporated into a development agreement to guide the relationship between the CTFN and TLG, as the company moves to production.

On January 17, 2007 Tagish Lake Gold Corp, has received assay results for holes SC06-107 to SC06-110. These holes are part of the now complete 6,500 metre program to outline the Rainbow Two zone, and to test the Kuhn mineralized zone and the newly discovered Bergvinson zone.

On January 10, 2007, Tagish Lake Gold Corp. announced that the Company and Macquarie Bank Ltd. have amended the terms of the previously announced $500,000 equity private placement and $1,500,000 secured debt feasibility finance facility in response to comments received from the TSX Venture Exchange.

On January 4, 2007, Tagish Lake Gold Corp. provided assay results for holes SC06-94 to SC06-97 and SC06-106. Hole SC06-95 intersects 6.91 g/t gold and 72.4 g/t silver over 9.72 metres.

On January 2, 2007, Tagish Lake Gold Corp. announced that it has closed the third tranche of its previously announced non-brokered private placement of flow-through units at a subscription price of 26 cents per unit for gross proceeds of $797,138 on Dec. 29, 2006. These flow-through funds will be used for those exploration expenditures on the high-grade Skukum Creek gold-silver mineral deposit.

On December 28, 2006, Tagish Lake Gold Corp. announced that the TSX Venture Exchange has accepted for filing documentation with respect to the third (and final) tranche of a non-brokered private placement announced in Stockwatch Dec. 7, 2006:

Number of shares: 3,450,303
Purchase price: 26 cents per share.

On December 22, 2006, Tagish Lake Gold Corp. announced that the TSX Venture Exchange has accepted for expedited filing documentation with respect to the second tranche of a non-brokered private placement announced in Stockwatch Dec. 7, 2006:

Number of shares: 2,795,400
Purchase price: 26 cents per share.

On December 22, 2006, Tagish Lake Gold Corp. announced that it has closed the second tranche of its previously declared non-brokered private placement of flow-through share units at a subscription price of 26 cents per unit for gross proceeds of $726,804.

On December 13, 2006 Tagish Lake Gold Corp. has shipped samples from all of the holes in the 6,500 metre drill program to the laboratory. Assay results are pending for 10 holes. The drill program achieved its objective of increasing the mineral resource on the high-grade Skukum Creek gold-silver mineral deposit and also led to the discovery of the Berg zone. The data from the Rainbow Two and Berg zones are being entered into the mineral resource model, and a new resource estimate is expected early next year. Work is currently under way on various aspects of the feasibility study to provide the additional technical information necessary to refine the project.

On December 07, 2006 Tagish Lake Gold Corp. is undertaking a flow through private placement of a maximum of $2.5 million at a subscription price of 26 cents per unit. These funds will be used for eligible Canadian exploration expenses as defined in Subsection 66.1(6) of the Income Tax Act (Canada) on Tagish's Skukum Creek property.

On December 05, 2006 Tagish Lake Gold Corp. has initiated the next phase in moving toward its objective of production at Skukum Creek by awarding a contract for underground work to P.J. Whelan Mining Contractors. The contractor will begin mobilizing equipment and material immediately. The first phase of the underground work, to include about 300 metres of drift and 200 metres of raise, will be undertaken on the Rainbow Two and the newly discovered Bergvinson zones on the 1,300-metre level.

On November 30, 2006 Tagish Lake Gold Corp. has released assay results received for holes SC06-101 to SC06-105. These holes are part of the 6,500-metre program to outline the Rainbow Tow zone, and to test the Kuhn mineralized zone and the newly discovered Bergvinson zone. The hole SC06-101 intersected 8.26 g/t gold and 54.8 g/t silver over 1.75-metres.

On November 27, 2006 Tagish Lake Gold Corp. is providing assay results received for holes SC06-91 to SC06-93 and SC06-98 to SC06-100. These holes are part of the 6,500-metre program to outline the Rainbow Two zone, and to test the Kuhn mineralized zone and the newly discovered Berg zone. Results are pending for holes SC06-94 to SC06-97. 

Robert Rodger, president of Tagish Lake Gold, stated, " The Rainbow Two zone has been persistent over a 200m length and continues to carry high-grade values."

On November 20, 2006, Tagish Lake Gold Corp. announced that it has arranged a non-brokered private placement with Macquarie Bank Ltd. for 2,777,777 Tagish common shares at a subscription price of 18 cents per share for gross proceeds of $500,000.

In connection with the anticipated proceeds raised from this private placement, the previously announced secured debt feasibility finance facility from Macquarie for the completion of the feasibility study for the Company's Skukum Creek gold-silver project will be amended from $2.0-million to $1.5-million.

On November 17, 2006, Tagish Lake Gold Corp. reported that it has received the metallurgical report on process tests for the Rainbow zone. The testwork confirms higher silver recovery. The overall silver recovery would be 77%, a marked improvement from the results of previous testwork. The current test program confirms that flotation of a bulk concentrate, followed by leaching, remains the process method of choice. Additional testing to improve and optimize the results is continuing.

On November 8, 2006, Tagish Lake Gold Corp. released the assay results received for holes SC06-86 to SC06-90. These holes are part of the 6,500-metre program to outline the Rainbow Two zone, and to test the Kuhn and Berg mineralized zones. Diamond drilling continues to outline high grade zones. Hole SC06-86 intersected 23.25 g/t Au and 397 g/t Ag over 1.59 m.

On November 2, 2006, Tagish Lake Gold Corp. released the assay results received for holes SC06-79 to SC06-85. These holes are part of the 6,500-metre program to outline the Rainbow Two zone, and to test the Kuhn and Berg mineralized zones. Diamond drilling returns high grade gold and silver values. Hole SC06-85 intersected 32.53 g/t Au and 306.9 g/t Ag over 1.59 m.

On October 31, 2006, Tagish Lake Gold Corp. released the assay results received for holes SC06-68 to SC06-72. These holes are part of the 6,500-metre program to outline the Rainbow Two zone, and to test the Kuhn and Berg mineralized zones. Hole SC06-71 intersected 18 g/t Au and 470g/t Ag over 1.10 m.

On October 25, 2006, Tagish Lake Gold Corp. released the assay results received for holes SC06-73 to SC06-78. These holes are part of the 6,500-metre program to outline the Rainbow Two zone, and to test the Kuhn and Berg mineralized zones. Tagish continues to obtain high grade drill intersections. Hole SC06-75 intersected 51.3 g/t Au and 437g/t Ag over 0.8 m.

On October 25, 2006, Tagish Lake Gold Corp. released the assay results received for holes SC06-73 to SC06-78. These holes are part of the 6,500-metre program to outline the Rainbow Two zone, and to test the Berg and Kuhn mineralized zones. Tagish continues to obtain high grade drill intersections. Hole SC06-75 returned 0.8 m of 51.3 g/t Au and 437 g/t Ag.

On October 20, 2006, Tagish Lake Gold Corp. provided its corporate progress report. It has completed the initial 5,000-metre drill program, a total of 57 holes. Samples from these holes have been shipped to the laboratory, and assay results are pending for 29 of these holes. The program continues, with an additional 1,500 m of drilling, the objective is to increase the mineral resource on the high-grade Skukum Creek gold-silver mineral deposit. Work continues on the environmental assessment report by the Company's consultants. As part of the public consultation process to inform the public of the Company's plans and to solicit input about the Skukum Creek project, open houses are scheduled for the communities of Mount Lorne and Carcross on October 24 and October 25.

On October 2, 2006, Tagish Lake Gold Corp. released the unaudited financial statements of the Company for the quarter ended July 31, 2006. The Company expended a total of $680,016 during the quarter ended July 31, 2006, on exploration on its mineral properties. The expenditures were for extension of the underground workings and diamond drilling on the 1,300-metre level at Skukum Creek. The objective remains unchanged to increase the resource on the Skukum Creek deposit. In order to achieve this objective, deposit definition is being undertaken on the Rainbow Two zone. The planned drill program was just increased to 6,500 metres from 5,000 metres. The drill program will also test the newly discovered Berg zone. The drill program is under way, and results have been encouraging.

On September 27, 2006, Tagish Lake Gold Corp. released the assay results received for holes SC06-62 to SC06-67. These holes are part of the program to outline the Rainbow Two zone, and to test the other mineralized zones. An increase in the drill program to 6,500 metres from 5,000 metres has been approved by the board of directors. The expanded program will allow greater drill density on the zones, and will explore the Rainbow Two zone to the east of the known intersections.

Tagish reported that drill hole SC06-65 intersects 16.90 g/t gold and 43.4 g/t silver over 1.26 metres in the Berg zone. 

Robert Rodger, President of Tagish Lake, said: "The results confirm that the Berg mineralized zone extends laterally. As previously reported, a second zone with high values was also intersected in hole SC06-49, some 120 metres to the east of these intersections. The additional drilling necessary to define the Berg zone is ongoing."

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