RICHMOND, BC, Sept. 13 /CNW Telbec/ - Tagish Lake Gold Corp. (TSX.V - TLG) is pleased to announce that, further to its news release of August 17, 2006, it has accepted terms provided by Macquarie Bank Ltd. with respect to a C$2,000,000 secured debt feasibility finance facility for the completion of the bankable feasibility study for the Company's high grade Skukum Creek gold-silver project. The draw downs for these funds will be in two tranches, the first being conditional on, among other things, the presentation of an updated resource model that will incorporate results of the latest exploration program at Skukum Creek, when available. This is scheduled for completion in the third quarter of 2006. The second tranche will be made available conditional on, among other things, successful review of the feasibility study's progress. The feasibility study is scheduled for completion in early 2007. Metallurgical, environmental impact and resource studies are all in progress. In connection with the feasibility finance facility, and subject to applicable securities laws and the acceptance of the TSX Venture Exchange, Tagish will grant Macquarie Bank Ltd. 8,000,000 non-transferable common share purchase warrants, each warrant entitling the holder to acquire one common share at a price of C$0.25 per share for 36 months from the date of issuance. The warrants will vest and thereafter be exercisable proportionately with the draw downs of the finance facility and otherwise will be subject to a hold period expiring four months from the date of issuance in accordance with the rules and policies of the TSX Venture Exchange, applicable Canadian securities laws and such other further restrictions as may apply under foreign securities laws. Macquarie Bank Ltd. will remain engaged to arrange, if warranted, senior project debt finance on terms to be negotiated. The transactions set out above are subject to the negotiation and execution of definitive agreements between the Company and Macquarie Bank Ltd., acceptance of the documentation related to the financing and the common share purchase warrants by the TSX Venture Exchange, standard commercial conditions of lending and other technical and due diligence matters related to the Company and the Skukum Creek gold-silver project. About Tagish Lake Gold Corp. Tagish Lake Gold Corp. 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, 178 km(2) Skukum Mineral District located 80 km by road south of Whitehorse. The Skukum Mineral District hosts the Skukum Creek gold-silver deposit and the Goddell Gully gold deposit, with a currently defined measured plus indicated resource of 1,120,000 tonnes grading 8.0 g/t Au and 153.1 g/t Ag (MineTech June 2003, available on Sedar); and the Mt. Skukum gold deposit. THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. This news release includes certain forward looking statements in respect to various issues including upcoming events. These forward looking statements are based upon current expectations which involve risks and uncertainties that could cause actual outcomes and results to differ materially. Mineral exploration is subject to a high degree of risk, which even a combination of experience, knowledge, and careful evaluation may fail to overcome. Exploration activities seldom result in the discovery of a commercially viable mineral resource. Exploration activities are also expensive. The Company will therefore require additional financing to carry on its business, and such financing may not be available when it is needed. The Company disclaims any obligation to revise any forward looking statements as a result of information received after the fact or regarding future events.