International Tower Hill Mines Announces 2021 Budget and Work Program
1177 West Hastings Street
Suite 2300
Vancouver, BC
Canada V6E 2K3
Tel: 604.683.6332
Fax: 604.408.7499
www.ithmines.com
NR21-01 January 12, 2021
International Tower Hill Mines Announces
2021 Budget and Work Program
Vancouver, British Columbia, January 12, 2021 – International Tower Hill Mines Ltd. (the “Company”) -
(TSX: ITH) (NYSE American: THM) today announced that the Board of Directors has approved a 2021
budget of US$5.6 million and endorsed the associated 2021 work program to advance the Livengood Gold
Project.
The key element in the 2021 work program is the completion of the Pre-Feasibility Study (“PFS) on the
Livengood Gold Project that is planned for release in October 2021. The comprehensive study was begun in
July of 2020 and will further de-risk and identify the optimal project configuration. The Company has
engaged BBA, Inc. as its lead consultant and has re tained Whittle Consulting, Resource Modeling, Inc.,
Resource Development Associates, Easton Process Consu lting, and NewFields Companies, LLC to provide
specialized technical support.
On October 16, 2020, the Company announced completi on of a US $10.3 million financing through an At-
The-Market (“ATM”) offering with B. Riley Securities, Inc. (the “Offering”). The Offering ensured that the
Company has not only enough funds to complete the PFS, but it also provided an excellent runway to
advance the Livengood Gold Project beyond the PFS in a disciplined manner. As of September 30, 2020, the
Company had working capital of US$13.1 million.
“The gold market’s continued strength gives us strong mo tivation to advance our work to establish the best
foundation to support futu re development” said Karl Hanneman, CEO. “The 11.5 million ounce gold
resource at the Livengood Gold Project is in a prem ier jurisdiction and the large resource size gives our
project high leverage to the gold price.”
International Tower Hill Mines Ltd. has a 100% inter est in its 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 Relations
E-mail: [email protected]
Direct line: 907-328-2825 Toll-Free: 1-855-428-2825
This press release contains forward-looking statemen ts and forward-looking information (collectively,
"forward-looking statements") within the meaning of applicable Canadian and US secu rities legislation. All
statements, other than statements of historical fact, in cluded herein, including statements with respect to the
potential development of any mine at Livengood, the tim ing and contents of a new Pre-Feasibility Study,
International Tower Hill Mines Ltd. - 2 - January 12, 2021
NR21-01 Continued
production levels and the price of gold are forward-look ing 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 cautions investors that any forward-looki ng statements by the Company are not guarantees of
future results or performance, and that actual results ma y 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 Commissi on, and certain securities commissions in Canada
and other information released by the Company and file d with the appropriate regulatory agencies. All of
the Company's Canadian public disclosure filings ma y 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 o ffer to buy or sell securities in the
United States.