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  Table 1: Resource Inventory: Skukum Property

PRE-FEASIBILITY STUDY

The Pre-Feasibility Study, updated in 2007, was based on the resource estimate and, using US$525 gold, US$8.00 silver and C$0.90 exchange rate, indicated a net cash flow of C$27million and a pre-tax IRR of 19.3%. The study was based on a through-put 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 C$84.03 per tonne. An external dilution rate of 20 per cent at zero grade was used. The projected production was 49,000 troy ounces of gold and 1,300,000 troy 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 77 per cent for silver.

DIRECTORS & MANAGEMENT

Mr. Hawkins has over 30 years’ experience in mineral exploration in and internationally. He is presently the Director of CME and Company, and Managing Director of CME () Ltd. He was a former Vice-President and Director of MPH Consulting Ltd., and a former President of CME Consulting Ltd.

Mr. Bryce has 30 years’ mining management and administration experience. He is currently Chairman 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.

Robert Chaffee – Director
Mr. Chaffee has been involved in the mining industry since 1957, originally in Elliot Lake, Manitouwadge and Sudbury, as well as in Northwestern Quebec, Manitoba, British Columbia and the Yukon.  He is currently Chairman and Director of several trucking and contracting companies.

 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.

Denis Lampron, CA, MBA - Chief Financial Officer
Mr. Lampron has over 20 years’ experience in manufacturing, natural resources and metallurgy. He was CFO of a private oil &  gas producer, and a mineral exploration company. He has overall responsibility for financial management, directing the financial planning and control, tax, treasury, risk management, budgeting and compliance.

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

Robert J. Rodger, P. Eng. – Technical Advisor 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.

Tagish Lake Gold Corp. (TLG: TSX-V) 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.

Tagish Lake Gold is listed for trading under the symbol TLG on the TSX Venture Exchange. Approximately 20 per cent of the outstanding shares are controlled by insiders, and 15 per cent are institutionally held.

Proceeds from private placements this year are being used to fund exploration on the Skukum Creek deposit. Extension of the underground workings on the zones identified in drilling last year at Skukum Creek will be followed by another diamond drill program.

CORPORATE STRATEGY

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 982 mining claims covering 178 km². To date, three mineral deposits have been identified. They are: Skukum Creek (gold-silver); Mt. Skukum (gold); and Goddell Gully (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 ore from all three deposits.

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 centimeters 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.

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.

Mt. Skukum Deposit 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 between 1986 and 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 within Skukum Creek with high potential are the Rainbow Two Zone and the Bergvinson (Berg) Zone. The zones are open and will be defined with the current drilling program.

Resource Inventory: Resource estimates for the Skukum Creek and Goddell Gully deposits were calculated by MineTech in 2007. Presently there is a total of 482,000 in situ ounces of gold and 6,400,000 in situ ounces of silver.