International Tower Hill Adds Depth to its Livengood Project Development and Marketing Team
August 19 2010 - 9:15AM
Marketwired
International Tower Hill Mines Ltd. ("ITH" or the "Company") -
(TSX: ITH)(NYSE Amex: THM)(FRANKFURT: IW9) is pleased to announce
the addition of two key members of the Livengood project
development team. Keith Malone has accepted the position of Manager
of Technical Services and Richard Moses has agreed to come on as
Livengood Site Manager. Both Keith and Richard will report to Karl
Hanneman, the Livengood Project General Manager. In addition,
Shirley Zhou has become a consultant to ITH and will be the Manager
of Corporate Communications.
Mr. Malone has 28 years of experience in mine management, most
recently as Mine Superintendent with Sumitomo group at the Pogo
mine, Alaska's second largest gold mine located 150 kilometres
southeast of Fairbanks, Alaska. Mr. Malone has been with the Pogo
project for the past 6 years during its planning, construction and
operation and has extensive experience in the mining and processing
side of project development. Prior to his involvement with the Pogo
project, Mr. Malone worked for 5 years as Mill Superintendent for
Teck Resources at the Red Dog mine in western Alaska.
Mr. Moses has 36 years of exploration and project management
experience, most recently as the project manager for Altynalmas
Gold on the Bakyrchik deposit in Kazakhstan. Prior to this, Richard
worked in Alaska as project manager on various other projects
including Pebble and Donlin Creek. Mr. Moses has extensive
experience managing large drilling and development programs,
particularly in Alaska.
Ms. Zhou has worked as a corporate communications professional
for the past 7 years, and has combined experience in
investor/public relations, corporate communications, strategic
marketing, client services, sales and journalism. Most recently,
she held the role of Corporate Communications Manager for
Silvercorp Metals Inc. for two years. Prior to that, she has held
the position of Corporate Communications and Investor Relations for
several publicly traded resource companies focused on silver,
uranium, base metals and potash exploration since 2005.
Jeff Pontius, President and CEO for ITH, stated, "The addition
of Mr. Moses and Mr. Malone has added considerable depth and
competence to the ITH team as we take the Livengood project forward
toward development and production. Both Richard and Keith will fill
key management roles as we optimize and maximize the value of our
world class gold project. The addition of Ms. Zhou to our Corporate
Communications team will greatly enhance our ability to communicate
the existing and growing potential of our company as we make the
transition toward a gold producer."
Grant of Incentive Stock Options
The Company also announces that, pursuant to its 2006 Incentive
Stock Option Plan, it has granted its employees, directors and
contractors incentive stock options to purchase 1,495,000 common
shares in the capital stock of the Company. The options are
exercisable on or before August 20, 2012 at a price of CAD 6.57 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 multimillion 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 a production
decision, or any subsequent 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.
NR10-27
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.internationaltowerhill.com
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