International Tower Hill Mines Announces the Appointment of Timothy Haddon and Daniel Carriere as New Directors
April 14 2010 - 3:39PM
Marketwired
International Tower Hill Mines Ltd. ("ITH" or the "Company") (TSX:
ITH)(NYSE Amex: THM)(FRANKFURT: IW9) is pleased to announce the
appointment of Mr. Timothy J. Haddon and Mr. Daniel (Dan) A.
Carriere to its board of directors, effective immediately.
Mr. Haddon is the President of International Natural Resource
Management Co., a mining industry consulting service provider and
investor. He is a graduate of the Colorado School of Mines and a
seasoned mining engineer with over 35 years of international mining
and business experience. He spent 23 years working for Texasgulf
and Amax with responsibilities in Africa, Australia, Southeast Asia
and North and South America. Mr. Haddon was Chief Executive Officer
of Amax Gold from 1989 to 1993, a global mining company with
operations in New Zealand and North and South America which was
ultimately acquired by Kinross Gold Corporation in 1998. He was a
co-founder of First Dynasty Mines in 1994, and President and Chief
Executive Officer of Archangel Diamond Corporation from 1997 to
2002. He currently serves as Chairman of Anatolia Minerals
Development Ltd. (TSX), a company with significant gold exploration
and early stage production operations in Turkey, as the lead
director for Thompson Creek Metals Inc. (NYSE/TSX), a molybdenum
producer with mines in the USA and Canada, and as a director on a
select number of private boards.
Mr. Carriere has been a founding partner and significant
shareholder of Corriente Resources Inc. (TSX) since 1992 and is
currently the Company's Senior Vice President responsible for
corporate development and investor and shareholder relations.
During the past 20 years, Mr. Carriere has been instrumental in the
development and financing of small to medium capitalized companies,
both private and public, in Canada and the USA. Mr. Carriere was
also a Director of ID Biomedical Corporation and was a significant
shareholder in ID Biomedical since the Company's initial public
offering in 1991 and its growth from an initial $3 million market
capitalization to $1.7 billion, the value of the company's takeover
offer from Glaxo Smith Kline plc in 2005.
Jeffrey Pontius, ITH's President and CEO, stated, "I am
exceptionally pleased that we have been able to attract such high
calibre individuals as Tim Haddon and Dan Carriere to our board.
Mr. Haddon's extensive experience in developing and growing
resource companies as well as in strategic transactions strengthens
our ability to take ITH to its next level of value building. In
addition Mr. Carriere's strong business development experience and
his recent involvement with the Corriente Resources transaction
will aid tremendously as the Company moves forward with its
strategy of maximizing shareholder value."
Grant of Incentive Stock Options
The Company also announces that, pursuant to its 2006 Incentive
Stock Option Plan, it has granted directors, officers, employees
and consultants incentive stock options to purchase 2,835,000
common shares in the capital stock of the Company. The options are
exercisable on or before April 14, 2012 at a price of CAD 7.34 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 from early stage to
the advanced multimillion ounce gold discovery at Livengood. ITH is
committed to building shareholder value through new discoveries
while maintaining a majority interest in its key asset, 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,
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.
NR10-13
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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