VANCOUVER, March 15, 2019 /PRNewswire/ - International Tower
Hill Mines Ltd. (the "Company") - (TSX: ITH) (NYSE American: THM)
today announced that its Phase 12 metallurgical program has begun
at SGS in Vancouver, B.C. This
work is part of the 2019 budget of $3.7
million approved by the Board on November 1, 2018 and will build upon the
metallurgical studies undertaken in 2018 to continue to define and
refine the project flowsheet. Approximately 2,000 kg of samples
will be processed in 2019 to evaluate optimum grind size and to
determine whether different recovery parameters should be applied
to different areas of the orebody. The engineering firm of BBA Inc.
has been retained to continue to guide the metallurgical program.
Work is also planned to advance environmental baseline efforts
needed to support future permitting.
"The 11.5 million ounce gold resource at the Livengood Gold
Project is in a great jurisdiction and is highly leveraged to the
price of gold. Our stock has responded to the recent strengthening
of the gold price and our 2019 work program will continue to focus
on optimization that will help us prepare to advance the best
possible project toward future permitting," said Karl Hanneman, CEO.
The Company also today announced that it has filed its audited
Year-End Financial Statements and associated Management Discussion
and Analysis (MD&A) on Form 10-K for the year ended
December 31, 2018. As of December 31, 2018, the Company had working
capital of $9.9 million.
Shareholders can obtain copies of the Company's audited Year-End
Financial Statements and associated MD&A and Form 10-K on SEDAR
at www.sedar.com, on EDGAR at www.sec.gov and on the Company's
website at www.ithmines.com. The Company will also provide hard
copies of these documents, free of charge, to shareholders who
request a copy directly from the Company.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. controls 100% of the
Livengood Gold Project located along the paved Elliott Highway, 70
miles north of Fairbanks,
Alaska.
On behalf of
International Tower Hill Mines Ltd.
(signed) Karl L.
Hanneman
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 statements with respect
to the ability of the Company to carry out and complete
optimization studies with respect to the Livengood Gold Project,
the ability of the Company to advance the Livengood Gold Project,
the potential development of any mine at Livengood, 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, proposed, planned, potential 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 price of gold, the potential
inability of the Company 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 report on Form
10-K and other reports filed with the United States Securities and
Exchange Commission, and certain securities commissions in
Canada 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 latest technical report filed with respect
to the Livengood Gold Project.
This news release is not, and is not to be construed in any
way as, an offer to buy or sell securities in the United States.
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SOURCE International Tower Hill Mines Ltd.