International Tower Hill Mines Ltd. Hires Chief Operating Officer for the Development of its Livengood Project, Alaska
January 12 2010 - 12:40PM
Marketwired
International Tower Hill Mines Ltd. ("ITH" or the "Company") (TSX:
ITH)(NYSE Amex: THM)(FRANKFURT: IW9) is pleased to announce the
hiring of Mr. Carl Brechtel as the Company's new Chief Operating
Officer. Mr. Brechtel has 30 years of mining industry experience on
four continents, much of it in the design and development of new
projects. He most recently held the position of Pre-feasibility
Manager for AngloGold's La Colosa operation in Columbia, a large,
open pit-milling, development project. Mr. Brechtel will be in
charge of advancing the Livengood project toward production as well
as assembling the operational team necessary to construct and
operate a major mining project.
Jeffrey Pontius, President and CEO for ITH, stated, "The
addition of Mr. Brechtel to our management team is a major step
forward for the Livengood project on its path to becoming Alaska's
next mine and for ITH as an emerging gold company. We are
exceptionally fortunate to have an individual like Mr. Brechtel
with such depth in not only project development but also
operational team building; it is a very exciting time for us
all."
Mr. Brechtel has spent the past 12 years working for AngloGold
Ashanti Limited in various mining project development roles around
the globe. His recent role in directing the development work for
AngloGold on its La Colosa project in Columbia, a major, large
scale, low-grade open pit milling project, is particularly timely
for the Livengood project. Mr. Brechtel's extensive operational and
project development history in various geologic settings spans
projects in North America, Australia, South America and Africa.
Prior to his work at AngloGold, Mr. Brechtel operated a mining
engineering consulting company providing services to various
clients, including many of North America's major gold
producers.
Grant of Incentive Stock Options
The Company also announces that, pursuant to its 2006 Incentive
Stock Option Plan, it has granted Mr. Brechtel incentive stock
options to purchase 250,000 common shares in the capital stock of
the Company. The options are exercisable on or before January 12,
2012 at a price of CAD 7.95 per share.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. is a resource exploration
company, focused in Alaska and Nevada, which controls a number of
exploration projects representing a spectrum of early stage to the
advanced multi-million ounce gold discovery at Livengood. ITH is
committed to building shareholder value through new discoveries
while maintaining a majority interest in its key holdings, thereby
giving its shareholders the maximum value for their investment.
On behalf of INTERNATIONAL TOWER HILL MINES LTD.
Jeffrey A. Pontius, President and Chief Executive Officer
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 27E of
the Exchange Act. All statements, other than statements of
historical fact, included herein including, without limitation,
statements regarding the anticipated content, commencement and cost
of exploration programs, anticipated exploration program results,
the discovery and delineation of mineral
deposits/resources/reserves, the potential for the expansion of the
estimated resources at Livengood, the potential for any production
at the Livengood project, business and financing plans and business
trends, are forward-looking statements. 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 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 Company's inability to
obtain any necessary permits, consents or authorizations required
for its activities, the Company's inability 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 20-F 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
technical reports filed with respect to the Company's mineral
properties.
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.
NR10-01
Contacts: International Tower Hill Mines Ltd. Quentin Mai
Vice-President - Corporate Communications 1-888-770-7488 (toll
free) or (604)683-6332 (604) 408-7499 (FAX)
qmai@internationaltowerhill.com www.ITHmines.com
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