VANCOUVER, Nov. 6, 2017 /CNW/ - International Tower Hill
Mines Ltd. (the "Company") - (TSX: ITH) (NYSE-MKT: THM) today
announced that it has filed its unaudited third quarter Financial
Statements and associated Management Discussion and Analysis and
Quarterly Report on Form 10-Q for the three-month and nine-month
periods ended September 30, 2017.
As of September 30, 2017, the
Company had working capital of $3.0
million. The Company believes the current working
capital will be sufficient for it to complete its anticipated 2017
work plan at the Livengood Gold Project and satisfy its currently
anticipated general and administrative costs through the 2018
fiscal year.
Shareholders can obtain copies of the Company's unaudited third
quarter Financial Statements and associated Management Discussion
and Analysis 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.
The Company also announced the resignation, effective as of
November 6, 2017, of General
Mark R. Hamilton as a director of
the Company. General Hamilton has been a director since
November, 2011.
"We greatly appreciate the contribution and leadership General
Hamilton has provided the Company as a member of our Board of
Directors." commented Mr. Karl
Hanneman, CEO. "On behalf of the employees and Board
of Directors, we thank the General for his contribution to ITH and
wish him well in his new endeavour." The remaining
seven-member Board does not intend to fill the board seat at this
time.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. controls 100% 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
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements and
forward-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 mine plan, economic analysis (including CAPEX and
OPEX) and production and design details described in the
Pre-Feasibility Study; the potential to convert mineral resources
to mineral reserves; additional optimization and exploration
efforts and the results thereof; the ability of the Company to
satisfy the derivative liability and the consequences of any
failure to do so; the ability of the Company to potentially include
refined and updated results in a subsequent full feasibility study;
the ability of the Company to advance environmental baseline work
in support of future permitting; the ability of the Company to
advance the Livengood Project either as projected or at all; the
potential for the Company to make a construction decision, whether
when warranted by market conditions or at all; the potential for
market conditions to be such that they warrant the making of a
production decision; the potential development of any mine at the
Livengood Project; 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 Pre-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
(including, as required, to satisfy the derivative liability) 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 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.
SOURCE International Tower Hill Mines Ltd.