Corporate Member

International Tower Hill Mines is an advanced-exploration-stage company focused on the development of its 100% interest in the Livengood Gold Project located 70 miles northwest of Fairbanks, Alaska.

During 2021 the Company completed a pre-feasibility study (“PFS”) on its large, highly-levered, and long-life gold asset at our Livengood Gold Project. The Company engaged BBA, Inc. as its lead consultant and retained Whittle Consulting, Resource Modeling, Inc., Resource Development Associates, Easton Process Consulting, and NewFields Companies, LLC to complete the study.

On November 4, 2021, the Company announced the results of the PFS, which are summarized in the S-K 1300 Technical Report Summary (“TRS”) filed on EDGAR dated February 23, 2022. The TRS detailed a project that would process 65,000 tons per day and produce 6.4 million ounces of gold over 21 years from a gold resource estimated at 13.6 million ounces at 0.60 g/tonne. The PFS integrated new interpretations based on an expanded geological database, improved geological modelling, new resource estimation methodology, an optimized mine plan and production schedule, additional detailed metallurgical work at various gold grades and grind sizes, changes in the target grind for the mill, new engineering estimates, and updated cost inputs, all of which significantly de-risked the Project. The TRS estimated the capital costs of the Project at US$1.93 billion, the total cost per ton milled at US$13.12, the all-in sustaining costs at US$1,171 per ounce, and the net present value (5%) at US$1,800/oz of US$400 million, US$975 million at US$2,000/oz and US$2.3 billion at US$2,500/oz.

The Livengood Gold Project is located in an active mining district that has been mined for gold since 1914. It is also located in one of the world’s most desirable mining jurisdictions, Interior Alaska, which has strong ties to the mining community, and the state has designated mining as the primary surface for the area.