International Tower Hill Mines Commences $60M Common Stock Offering, Signs $40M Concurrent Offering With Paulson

International Tower Hill Mines Ltd. (the "Company") - (TSX:ITH) (NYSE American: THM) today announced the launch of a $60 million public offering of common shares, without par value, of the Company (the "Common Shares") in the United States (the "Offering"). In connection with the Offering, Paulson & Co. Inc. has entered into an agreement to purchase $40 million of Common Shares in a private placement (the "Concurrent Private Placement") at the public offering price of the Offering.

The Company expects to use the net proceeds of the Offering and the Concurrent Private Placement to fund the exploration and development of the Livengood Gold Project, including drilling, metallurgical studies, feasibility studies, technical studies, baseline environmental studies, detailed engineering in support of permitting, permitting, legal support, community engagement, mineral lease and land payments, acquisitions and general corporate purposes.