VANCOUVER, May 7, 2014 /PRNewswire/ - International
Tower Hill Mines Ltd. ("ITH" or the "Company") - (TSX: ITH)
(NYSE-MKT: THM) today announced that it has filed its unaudited
first quarter financial statements and associated Management's
Discussion and Analysis (MD&A) and Quarterly Report on Form
10-Q for the three-month period ended March
31, 2014.
The Company's working capital as of March
31, 2014 was USD10.9 million,
which is expected to allow the Company to advance the Livengood
Gold Project well into 2015.
"The Project has excellent fundamentals: a substantial
gold resource, a highly favorable location and the team that led
development of two major mines in the interior of Alaska," said Tom
Irwin, CEO.
ITH continues to investigate a number of opportunities,
including those identified in the September
4, 2013 Feasibility Study and those subsequently developed
by the Company, for optimization and reduction of project
costs. Environmental baseline efforts are being advanced in
support of eventual permitting and the Company is pursuing a future
strategic alliance to assist in further development.
Shareholders can obtain copies of the quarterly documents on
SEDAR at www.sedar.com, EDGAR at www.sec.gov and on ITH's website
at www.ithmines.com.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. owns 100% of the Livengood
Gold Project, located along the paved Elliott Highway, 70 miles
north of Fairbanks, Alaska.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements and
forward-looking information (collectively, those subsequently
developed by the Company, for optimization and reduc and US
securities legislation. All statements, other than statements
of historical fact, included herein, including statements with
respect to the potential for the Company to identify and secure a
joint venture partner for the Livengood Project, the ability of the
Company to continue to maintain the necessary environmental
baseline activities to maintain the integrity and usability of the
five years of historical data already compiled, the ability of the
Company to optimize and/or enhance the base case as set out in the
Feasibility Study, the ability of the Company to provide
shareholder value through securing a joint venture for the
Livengood Project, the ability of the Company to advance the
Livengood Project, whether incrementally or at all, the expectation
that the Company has sufficient working capital to advance the
Livengood Project well into 2015, the potential development of any
mine at Livengood, business and financing plans and business trends
are forward-looking statements. Information concerning
mineral reserve/resource estimates and the economic analysis
thereof contained in the feasibility study also may be deemed to be
forward-looking statements in that it reflects a prediction of the
mineralization that would be encountered, and the results of mining
it, if a mineral deposit were developed and mined. Although
the Company believes that such statements are reasonable, it can
give no assurance 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 similar expressions, or
are those, which, by their nature, refer to future events. The
Company cautions 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, variations in the nature, quality and quantity of
any mineral deposits that may be located, variations in the market
price of any mineral products the Company may produce or plan to
produce, the inability of the Company to obtain any necessary
permits, consents or authorizations required for its activities,
the inability of the Company to produce minerals from its
properties successfully or profitably, to continue its projected
growth, 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 Information Form
filed with certain securities commissions in Canada and the Company's annual report on Form
10-K filed with the United States Securities and Exchange
Commission (the "SEC"), 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, and readers are urged to review
these materials, including the latest technical report filed with
respect to the Company's Livengood property.
This press release is not, and is not to be construed in any
way as, an offer to buy or sell securities in the United States.
SOURCE International Tower Hill Mines Ltd.