International Tower Hill Launches Plan To Advance Livengood Gold Project
1177 West Hastings Street
Suite 2300
Vancouver, BC
Canada V6E 2K3
Tel: 604.683.6332
Fax: 604.408.7499
www.ithmines.com
NR20-02 May 8, 2020
International Tower Hill Launches Plan To Advance
Livengood Gold Project
Vancouver, British Columbia, May 8, 2020 – International Tower Hill Mines Ltd. (the “Company”) - (TSX:
ITH) (NYSE American: THM) today announces that the Company’s Board of Directors has approved a work
plan to prepare a Pre-Feasibility Study on the Livengood project.
The Company believes that the recent strength in the price of g old arising from the unprecedented
accommodative fiscal and monetary stimulus from central banks a nd governments globally provides the
necessary macroeconomic backdrop to support the advancement of the large, highly-levered, and long-life gold
asset at Livengood.
“Over the last several years, we have quietly remained laser fo cused on improving our geological and
metallurgical understanding of the Livengood Gold deposit, which reported a 11.5 million ounce gold resource
in our 2017 NI 43-101,” said Karl Hanneman, CEO. “We intend to use new tools that have emerged in recent
years, such as Whittle Enterprise Optimization, to incorporate this new information with our previous solid
technical work to design the best possible Livengood Gold proje ct and to update our NI 43-101 to further de-
risk the project and demonstrate its value in a higher gold price environment.”
“Since 2016 we have conserved our cash to maximize optionality for ITH shareholders, and we are well
positioned to embark on a new phase for the Livengood project a s a result of the favorable macro-economic
backdrop for gold.” said Marcelo Kim, Chairman. “ITH owns the largest independent gold-only resource in
North America and we believe tha t in a rising gold price, the L ivengood project becomes one of the most
coveted and substantial assets in a geopolitically safe jurisdi ction, in a time when most gold companies are
struggling to replenish their reserves. Our aim is to unlock t hat value for shareholders by proceeding with a
Pre-Feasibility Study that will update our project’s parameters.”
The Company is mindful that the worldwide pandemic has caused extreme disruption to personal lives and to
normal business practices. With this in mind, and with Board a uthorization to proceed, the Company will
immediately begin work with its team and technical consultants to develop a more definitive timeline and
budget for completion of the Pre-Feasibility Study update and release of an NI 43-101.
The Company invites you to attend a conference call and webcast hosted by Chairman Marcelo Kim, Lead
Independent Director Steve Lang, and CEO Karl Hanneman to discuss the Company and this news release.
Conference Call & Webcast Details:
INTERNATIONAL TOWER HILL MINES’s conference call and webcast details are provided below:
Date: May 12, 2020 at 12:00 pm ET
Webcast: https://services.choruscall.com/links/thm200512.html
North American callers: 1‐877‐270‐2148
International callers: 1‐412‐902‐6510
International Tower Hill Mines Ltd. - 2 - May 8, 2020
NR20-02 Continued
The Company also today announced that it has filed its unaudite d first quarter Financial Statements and
associated Management Discussion and Analysis and Quarterly Rep ort on Form 10-Q for the three-month
period ended March 31, 2020.
As of March 31, 2020, the Company had working capital of $6.4 million.
Shareholders can obtain copies of the Company’s unaudited Finan cial Statements and associated MD&A and
Form 10-Q on SEDAR at: www.sedar.com, EDGAR at www.sec.gov and on the Company’s website at:
www.ithmines.com. The Company will also provide hard copies of these documents, free of charge, to
shareholders who request a copy directly from the Company.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. has a 100% interest in the Livengood Gold Project located along the paved
Elliott Highway, 70 miles north of Fairbanks, Alaska.
On behalf of
International Tower Hill Mines Ltd.
(signed) Karl L. Hanneman
Chief Executive Officer
Contact Information: Richard Solie, Jr., Manager - Investor Rel ations
E-mail: [email protected]
Direct line: 907-328-2825 Toll-Free: 1-855-428-2825
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements and forw ard-looking information (collectively,
"forward-looking statements") within the meaning of applicable Canadian and US securities legislation. All
statements, other than statements of historical fact, included herein, including statements with respect to the
potential development of any mine at Livengood, production levels and the price of gold are forward-looking
statements. Although the Company believes that such statements are reasonable, it can give no assurance that
such expectations will prove to be correct. The Company caution s investors that any forward-looking
statements by the Company are not guarantees of future results or performance, and that actual results may
differ materially from those in forward-looking statements as a result of various factors, including, but not
limited to, the price of gold, the potential inability of the Company to raise the necessary capital or to be fully
able to implement its business strategies, and other risks and uncertainties disclosed in the Company's annual
report on Form 10-K and other reports filed with the United States Securities and Exchange Commission, and
certain securities commissions in Canada and other information released by the Company and filed with the
appropriate regulatory agencies. All of the Company's Canadian public disclosure filings may be accessed via
www.sedar.com and its United States public disclosure filings may be accessed via www.sec.gov. Readers are
urged to review these materials, including the latest technical report filed with respect to the Livengood Gold
Project.
This news release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United
States.