ITH International Tower Hill Mines Ltd New

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


International Tower Hill Mines Ltd. ("ITH" or the "Company") - (TSX:ITH)(NYSE
Amex:THM)(FRANKFURT:IW9) is pleased to announce that the Company has closed the
bought deal short form prospectus financing announced September 28, 2010 (the
"Offering"). The Company issued 10,400,000 common shares at a price of CAD 6.25
per common share for gross proceeds of CAD 65,000,000. The Underwriters (as
defined below) also exercised their over-allotment option to acquire an
additional 1,560,000 common shares for additional gross proceeds of CAD
9,750,000. Including the proceeds from the exercise of the over-allotment
option, the total gross proceeds of the Offering were CAD 74,750,000.


The Offering was led by Canaccord Genuity Corp. and included BMO Nesbitt Burns
Inc., GMP Securities Inc. and Salman Partners Inc. (the "Underwriters"). In
connection with the Offering the Underwriters received a cash commission equal
to 5% of the gross proceeds raised through the Offering.


In addition, the Company also announces the closing of a non-brokered private
placement of 4,900,000 common shares at a price of CAD 6.25 per common share,
for gross proceeds of CDN 30,625,000 (the "Private Placement"). No finder's fee
was paid in connection with the Private Placement. All common shares issued in
the Private Placement are subject to resale restrictions in Canada and the
United States.


The Company intends to use the net proceeds from the two financings for
continued work on its Livengood Gold project in Alaska and for general working
capital purposes.


The securities described above have not been and will not be registered under
the U.S. Securities Act of 1933, as amended (the "1933 Act") or any applicable
state securities laws and may not be offered or sold in the United States or to,
or for the account or benefit of, U.S. persons (as defined in Regulation S under
the 1933 Act) or persons in the United States absent registration or an
applicable exemption from such registration requirements. This press release
shall not constitute an offer to sell or the solicitation of an offer to buy nor
shall there be any sale of the foregoing securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful.


About International Tower Hill Mines Ltd.

International Tower Hill Mines Ltd. is a resource exploration company focused on
the ongoing development of the advanced, multimillion-ounce gold discovery at
Livengood in Alaska. ITH is committed to the aggressive development of the
Livengood Project, 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 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, without limitation,
statements regarding the anticipated use of the proceeds of the Offering and the
Private Placement by the Company 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 the use of proceeds from the Offering and Private Placement. Other
risks and uncertainties are disclosed in the Company's Annual Information Form
filed with certain securities commissions in Canada and the Company's annual
report on Form 40-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.


NR10-36CAN

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