International Tower Hill Mines Names Thomas E. Irwin as New Alaska General Manager
January 09 2012 - 9:00AM
Marketwired
International Tower Hill Mines Ltd. ("ITH" or the "Company") -
(TSX:ITH) (NYSE Amex:THM) (FRANKFURT:IW9) ) has named Thomas E.
Irwin as the Company's new Alaska General Manager at its Livengood
gold project near Fairbanks, Alaska. Mr. Irwin joined ITH in March
2011 as Livengood Construction Manager with over 37 years of
experience in the natural resource industry having constructed,
optimized, operated and permitted major mining projects with
companies such as Amax Gold and Kinross. He succeeds Karl Hanneman,
who will become the Livengood Placer Manager and will oversee the
Company's investigations into potential placer gold extraction in
the vicinity of the Livengood deposit. A resource study is
currently underway to determine the size of the placer gold deposit
and it is anticipated that a subsequent Preliminary Economic
Assessment will be completed in first half of 2012.
As the new Alaska General Manager, Mr. Irwin will be responsible
for the management and technical direction of permitting and
development of the Livengood project. Prior to joining ITH, Mr.
Irwin served for six years as the Commissioner of the Alaska
Department of Natural Resources. From 1996 to 1999, he was the
Operations Manager responsible for mine start-up and operation at
the Fort Knox mine located 60 miles southeast of the Livengood
project and General Manager of the mine from 1999 to 2001. From
2001 to 2003, he was the Vice President, Business Development for
Fairbanks Gold Mining Inc., a subsidiary of Kinross Gold,
responsible for new project permitting, business development and
governmental and public relations in Alaska. Prior to his work at
Fort Knox, Mr. Irwin was General Manager of Amax Gold's Sleeper
Mine in Nevada and manager of the Climax mine in Colorado.
In his new role as Livengood Placer Manager, Mr. Hanneman will
lead the Company's investigations of the potential for near-term
gold production through placer operations in the vicinity of the
Livengood deposit as well as providing technical support on the
Livengood gold project. Prior to joining ITH in May 2010 as
Livengood Project Manager and working with Teck Resources on
project development and permitting in Alaska from 1997 to 2010, Mr.
Hanneman carried out extensive placer mining operations in the
Livengood District dating back to the early 1990s.
"Tom's new role with the Company is in recognition of the
tremendous Alaskan mining and permitting experience he brings to
our team and the significant contributions he has been making to
the Company since his appointment last year. We are also grateful
to Karl Hanneman for his contributions to date and, given his
intimate knowledge and experience with placer operations in the
Livengood district, we are excited to have him oversee our
investigations on this matter," said James Komadina, Chief
Executive Officer of ITH. "Tom and Karl's combined expertise and
experience will be invaluable to us in advancing the Livengood
project towards development into a major new gold mine in North
America."
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. controls a 100% interest in
the world-class Livengood Gold Project accessible by paved highway
70 miles north of Fairbanks, Alaska. In 2012 ITH is focused on the
rapid
advancement of the Livengood project into a compelling potential
development scenario while it continues to expand its current
resource and explore its 145 km2 district for new deposits.
On behalf of
International Tower Hill Mines Ltd.
(signed) James Komadina
James J. Komadina, 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 content, commencement and cost
of exploration programs, anticipated exploration program results,
the discovery and delineation of mineral
deposits/resources/reserves, the potential for the discovery and
exploitation of any placer deposits in the vicinity of the
Livengood deposit, the potential for a production decision to be
made in respect of the Livengood Project and/or any placer deposits
in the vicinity of the Livengood Deposit, the potential for any
production at the Livengood project and/or any placer deposits in
the vicinity of the Livengood Project, and 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 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.
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.
Contacts: International Tower Hill Mines Ltd. Shirley Zhou
Vice-President - Corporate Communications 1-888-770-7488 (toll
free) or (604) 638-3247 (604) 408-7499 (FAX)szhou@ithmines.com
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