RAB Special Situations (fka RAB)

[Ed Monton]

RAB Special Situations L.P./Tyhee Development
Corporation-Announcement

LONDON, UNITED KINGDOM--(CCNMatthews - Oct. 14, 2004) - RAB
Special Situations L.P. ("Special Situations") announces that it
entered into a Subscription Agreement with Tyhee Development
Corporation (the "Company") where it subscribed for a total of
3,750,000 units of the Company (the "Units"), at a price of
Cdn.$0.40 per Unit (the "Private Placement"). Each Unit consists
of one common share (a "Share") and one share purchase warrant
(each whole warrant being a "Warrant") of the Company. Each
Warrant entitles Special Situations to purchase one Share for a
period of 24 months after closing at a price of Cdn.$0.50 per
Share. The transaction took place off the market by way of
private placement.

Special Situations has ownership of and control over the
securities purchased in the Private Placement. The purchased
securities represent approximately 21% of the issued and
outstanding Shares on a partially diluted basis (assuming
exercise of its Warrants) ("Partially Diluted Basis").

Immediately after the Private Placement, Special Situations owned
3,750,000 Shares and 3,750,000 Warrants representing
approximately 21% of the issued and outstanding Shares on a
Partially Diluted Basis.

Special Situations purchased Units for investment purposes only
and not with the purpose of influencing the control or direction
of the Company. Special Situations together with joint actors, if
any, may, subject to market conditions, make additional
investments in or dispositions of securities of the Company in
the future, including additional purchases of Shares. Special
Situations and its with joint actors, if any, do not, however,
intend to acquire 20% of any class of the outstanding voting or
equity securities of the Company.

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FOR FURTHER INFORMATION PLEASE CONTACT:
RAB Special Situations L.P.
Mr. Neil Warrender
([phone]
([phone] (FAX)
[e-mail]
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.