International Tower Hill Mines Changes Fiscal Year End
January 16 2012 - 9:15AM
Marketwired
International Tower Hill Mines Ltd. ("ITH" or the "Company") -
(TSX:ITH)(NYSE Amex:THM)(FRANKFURT:IW9) announces that it has
changed its fiscal year-end to December 31 from its current fiscal
year-end of May 31. This change will better align the Company's
financial reporting with its operational and budgeting cycle as
well as align the financial reporting to those of other industry
participants in the mineral resource exploration, development and
production sectors (who typically have December 31st fiscal year
ends) so as to better enable marketplace assessment of the
Company's business performance.
The Company will report the audited results for its seven-month
transitional fiscal year (June 1, 2011 to December 31, 2011) in
March 2012 and will therefore not be reporting quarterly results or
filing quarterly financials for the period ended November 30, 2011.
Going forward, the Company's fiscal quarters will end on the last
day of March, June, September and December each year.
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, the Company 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.
James J. Komadina, Chief Executive Officer
NR12-04
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
www.ithmines.com
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