International Tower Hill Mines Announces the Closing of US $10.3 Million Public ATM Offering
1177 West Hastings Street
Suite 2300
Vancouver, BC
Canada V6E 2K3
Tel: 604.683.6332
Fax: 604.408.7499
www.ithmines.com
NR20-09 October 16, 2020
International Tower Hill Mines Announces the Closing of
US $10.3 Million Public ATM Offering
Vancouver, British Co lumbia, October 16, 2020 - Intern ational Tower Hill Mines Ltd. (TSX: ITH)
(NYSE-American: THM) (the “Company”) today announces that, further to its previous announcement of
September 2, 2020, the Company has now raised the full US $10.3 million available pursuant to its At-The-
Market (“ATM”) offering with B. Riley Securities, Inc. (the “Offering”).
The Company issued a total of 7,334,513 common shares at an average price of US $1.40 for gross proceeds
of US $10.3 million. The Company intends to use the net proceeds of the Offering for working capital and
general corporate purposes, inclu ding the completion of the Pre -Feasibility Study (“PFS”) announced on
July 15, 2020 to further de-risk the Livengood Gold Project and for environmental baseline studies.
Following completion of the Offering, the Company has 194,908,1 84 common shares issued and
outstanding.
Karl Hanneman, Chief Executive Officer, said “With completion of this financing, we ensured that the
Company has more than enough funding to complete the PFS by October of next year. After completion of
the PFS, this financing also gives us an excellent runway to ad vance the Livengood Gold Project in a
disciplined and optimum manner for shareholders.”
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor
shall there be any sale of these securities in any jurisdiction in which such an offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. controls a 100% interest of 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 Relations
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, inclu ded herein, including statements with respect
to the proposed use of the proceeds of the Offering by the Comp any, the ability of the Company to carry
out and complete optimization studies with respect to the Livengood Gold Project, the ability of the
International Tower Hill Mines Ltd. - 2 - October 16, 2020
NR20-09 Continued
Company to advance the Livengood Gold Project, the potential de velopment of any mine at Livengood,
business and financing plans and business trends are forward-lo oking statements. Although the Company
believes that such statements are reasonable, it can give no as surance that such expectations will prove to
be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate,
intend, estimate, postulate, proposed, planned, potential and s imilar expressions, or are those, which, by
their nature, refer to future events. The Company cautions inve stors that any forward-looking statements
by the Company are not guarantees of future results or performa nce, 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 use of proceeds from the Offering, the potential inabil ity 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 file d with the United States Securities and
Exchange Commission, and certain securities commissions in Cana da 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 Un ited States public disclosure filings may
be accessed via www.sec.gov, and readers are urged to review these materials, including the latest technical
report filed with respect to the Livengood Gold Project.