International Tower Hill Mines Selects Engineering Firms for Feasibility Study at the Livengood Gold Project
Published : January 26, 2012
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VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 26, 2012) - International Tower Hill Mines Ltd. ("ITH" or the "Company") - (News - Market indicators)(NYSE Amex:THM)(FRANKFURT:IW9) has selected Samuel Engineering, Inc. of Greenwood Village, Colorado, to provide process engineering services for its feasibility study on the Livengood Gold Project located near Fairbanks, Alaska. The Company has also engaged AMEC Environment & Infrastructure, Inc. of Denver, Colorado, to provide geotechnical infrastructure engineering services for the feasibility study. Feasibility level work will commence in the upcoming month. Publication of the Company's Livengood Prefeasibility Study remains on schedule to be completed by the summer of 2012.

Samuel Engineering is a highly respected engineering firm known for its work on large-scale gold projects around the world. Important work elements on the Livengood Gold Project include:

  • Identifying potential enhancements to the prefeasibility study design basis;
  • Participating in the metallurgical optimization program;
  • Developing feasibility-level design documents such as process flow sheets, design criteria, piping and instrumentation drawings, control philosophy, general arrangement drawings, construction and equipment specifications; and
  • Completing feasibility-level design of the concentrator, primary crusher, overland conveyor and ancillary facilities such as the administration building, truck shop/warehouse, laboratory building, main substation, site-wide power distribution, and fresh, potable water systems.

Services to be provided by AMEC Environment & Infrastructure, a division of AMEC Americas Ltd. and one of the world's leading engineering companies, include:

  • Hydrogeological or geotechnical field investigations supporting the feasibility-level design work;
  • Feasibility level design of the tailing management facility, overburden storage facility, pro temp ore storage facility, water storage facility, topsoil storage facility and sanitary landfill;
  • Identification of suitable borrowed sources for construction of the facilities;
  • Design of the main access road and site roads; and
  • Development of a site-wide water balance.

Management selected the firms based on their extensive experience in cold weather climates as well as previous work performed in Alaska. Both firms have assembled a first-class team of engineers to work on the Livengood feasibility study. The Company anticipates that the feasibility study will be completed by the first half of calendar year 2013 and, if the results are favourable, will be followed by a detailed design effort.

"The selection of both Samuel Engineering and AMEC to perform the feasibility study is an important step forward in the advancement of our development plan for the Livengood project" states Jim Komadina, president and chief executive officer of ITH. "The results of the feasibility study should provide us with the necessary information to make additional project development decisions. We are confident that the study results will support the compelling data we have collected to date."

Management Team Established

The Company has completed the build out of its management team to move the Livengood Gold project through the development and permitting phase. Recent appointments include:

  • Tom Irwin as Alaska General Manager to oversee the management and technical direction of permitting and development activities of the Livengood project in Alaska.

  • Bob Comer as Chief Administrative Officer and General Counsel. Mr. Comer will be responsible for all legal affairs and corporate administration matters at ITH and play an instrumental role in the Company's permitting activities.

  • Allen Thabit as Manager of Engineering responsible for selecting third party consultants and engineering firms to conduct the feasibility study at the Livengood project and to supervise these firms in their work.

  • Tom Yip as Chief Financial Officer. Mr. Yip is responsible for all aspects of financial management including strategic planning, treasury and capital structure, reporting and risk management.

  • Harold Galbraith as Mining Manager responsible for the development of the Livengood Life of Mine plan including all aspects of ore production and scheduling, overburden management plans, mine capital programs, mine infrastructure engineering. 

"International Tower Hill Mines now boasts an incredibly skilled and experienced team of individuals with proven track records in permitting, financing, constructing and operating large mines in North America," continues Mr. Komadina. "The fact we have attracted such high caliber talent is testament to the exceptional potential for the Livengood Gold project to become a major new gold mine in Alaska."

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.

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 expansion of the estimated resources at Livengood, the projected dates for the commencement of feasibility study work and for the completion of a pre-feasibility and feasibility study for the Livengood Project, the potential for a production decision to be made in respect of the Livengood Project, the potential for the development and construction of a mine and any production at the Livengood project, 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 40F 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 current technical report filed with respect to the Company's Livengood Project.

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.

NR12-05



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
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Intl. Tower Hill Mines

DEVELOPMENT STAGE
CODE : ITH.TO
ISIN : CA46051L1040
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Intl. Tower Hill is a gold development stage company based in Canada.

Intl. Tower Hill develops gold and silver in USA, and holds various exploration projects in USA.

Its main asset in development is LIVENGOOD in USA and its main exploration properties are BMP, PAINTED HILLS and COFFE DOME in USA.

Intl. Tower Hill is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 111.9 millions as of today (US$ 89.5 millions, € 78.4 millions).

Its stock quote reached its lowest recent point on April 29, 2005 at CA$ 0.25, and its highest recent level on February 25, 2011 at CA$ 9.99.

Intl. Tower Hill has 162 190 000 shares outstanding.

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Financings of Intl. Tower Hill Mines
9/18/2012International Tower Hill Closes Second Tranche of Non-Broker...
7/19/2012International Tower Hill Increases Non-Brokered Private Plac...
7/12/2012International Tower Hill Announces Up To $25,000,000 Non-Bro...
2/17/2011International Tower Hill Receives Share Ownership Top-Up Not...
4/7/2010 Closes Final Tranche of CAD 30,000,000 Non-Brokered Equity ...
3/16/2010CAD 30,000,000 Non-Brokered Equity Financing
8/26/2009Closes AngloGold Ashanti Top Up Private Placement
3/5/2009Closes $10,500,000 Bought Deal Equity Financing
2/17/2009Increase in Bought Deal Equity Financing
2/12/2009 Announces Bought Deal Equity Financing
Option Grants of Intl. Tower Hill Mines
8/24/2012International Tower Hill Grants Incentive Options
Nominations of Intl. Tower Hill Mines
1/30/2013International Tower Hill Announces Resignation of a Director
1/9/2012International Tower Hill Mines Names Thomas E. Irwin as New ...
4/14/2010Appointment of Timothy Haddon and Daniel Carriere as new Dir...
Financials of Intl. Tower Hill Mines
8/15/2012International Tower Hill Files 2012 Second Quarter Financial...
5/11/2012International Tower Hill Files 2012 First Quarter Financial ...
Project news of Intl. Tower Hill Mines
7/23/2013(Livengood)International Tower Hill Mines Announces Livengood Gold Proj...
11/7/2012(Livengood)International Tower Hill Provides an Update on the Livengood...
6/19/2012(Livengood)International Tower Hill Mines Announces Update on the Liven...
1/26/2012(Livengood)International Tower Hill Mines Selects Engineering Firms for...
12/14/2011(Livengood)International Tower Hill Mines Acquires Mining Claims Near L...
6/9/2011(Livengood)International Tower Hill Mines Intersects 92.9 Metres of 1.6...
5/3/2011(Livengood)International Tower Hill Mines Intersects 33.5 Metres of 8.0...
3/30/2011(Livengood)International Tower Hill Mines Intersects Additional Zones o...
3/15/2011(Livengood)International Tower Hill Mines Hires Construction Manager fo...
2/5/2011(Livengood)International Tower Hill Intersects 13.7 metres of 5.45 g/t ...
6/16/2010(Livengood)Announces Resource Update, Livengood Gold Project, Alaska
5/11/2010(Livengood)Continues to Grow New High-Grade SW Zone, Livengood Project
4/26/2010(Livengood)Expands Higher Grade SW and Sunshine Zones at Livengood Proj...
3/22/2010(Livengood)Expands Livengood Deposit with First Results of Winter Drill...
3/10/2010(Livengood)Increases Indicated Resources at Livengood Gold Project
3/8/2010(Livengood)Announces Key Positive Metallurgical Test Results for Liveng...
3/4/2010(Terra) Signs LOI to Form Production Joint Venture on Terra Project
2/4/2010(Livengood)Begins 50,000 Metre 2010 Exploration Drill Program at Liveng...
12/4/2009Coffee Dome Drilling Intersects Gold System 17Km East of For...
11/30/2009(Livengood)Positive Preliminary Economic Assessment Results
11/12/2009(Livengood) Continues to Expand Livengood Gold Project, Alaska
11/5/2009(Chisna)Reaches JV Agreement on Chisna Copper
11/2/2009(Livengood)Continues to Expand the Livengood Gold Project
9/30/2009(Livengood)Expands the Sunshine Zone at Livengood
9/9/2009(Livengood)Latest Drill Results From Livengood Gold Project, Alaska
9/2/2009(Coffe Dome)Begins Drilling at Coffee Dome Project, Alaska
8/4/2009(North Bullfrog)Signs Agreement to Acquire 100% Interest in North Bullfrog
8/5/2009(Livengood)Delineates Major New Zone of Gold Mineralization at Livengoo...
6/26/2009(Livengood)Resource Update at Livengood, Alaska
6/10/2009(Livengood)Livengood Gold Project, Alaska Summer Drilling Program Comme...
3/10/2009(Livengood)Doubles Planned 2009 Drill Program for Livengood Gold Projec...
3/2/2009(Livengood)First Two Holes of 2009 Winter Drill Program
2/9/2009(Livengood)Livengood Gold Project, Alaska Winter Drilling Program Comme...
Corporate news of Intl. Tower Hill Mines
5/6/2016International Tower reports 1Q loss
3/16/2016International Tower reports 4Q loss
10/30/2015International Tower Hill Mines Files 2015 Third Quarter Fina...
8/6/2015International Tower reports 2Q loss
8/6/2015International Tower Hill Mines Files 2015 Second Quarter Fin...
3/26/2015International Tower Hill Mines Appoints Karl Hanneman as Chi...
3/11/2015International Tower Hill Mines Files 2014 Year End Financial...
1/6/2015International Tower Hill Mines Announces Progress on Livengo...
12/18/2014International Tower Hill Mines Announces Management Change
11/24/2014International Tower Hill Mines Announces CAD 8.4 Million Non...
11/5/2014International Tower Hill Mines Files 2014 Third Quarter Fina...
8/7/2014International Tower Hill Mines Files 2014 Second Quarter Fin...
8/7/2014International Tower Hill Mines Files 2014 Second Quarter Fin...
5/7/2014International Tower Hill Mines Files First Quarter 2014 Fina...
9/9/2013(Livengood)International Tower Hill Mines Files NI 43-101 Technical Rep...
8/8/2013International Tower Hill Mines Announces Addition to the Boa...
7/31/2013International Tower Hill Mines Files 2013 Second Quarter Fin...
6/7/2013International Tower Hill Mines Announces Results from Annual...
5/9/2013International Tower Hill Mines Files 2013 First Quarter Fina...
4/24/2013International Tower Hill Mines Comments on Recent Gold Marke...
3/13/2013International Tower Hill Mines Announces Corporate Update an...
12/11/2012(Livengood)International Tower Hill Announces Positive Metallurgical Te...
8/21/2012International Tower Hill Reports New High-Grade Gold Interce...
8/2/2012International Tower Hill Mines Announces New Manager of Inve...
6/29/2012International Tower Hill Mines Announces Interim Chief Execu...
4/4/2012International Tower Hill Recognizes Alaska Progress Made Tow...
3/21/2012International Tower Hill Mines Files Audited Annual Financia...
3/6/2012(Livengood)International Tower Hill Mines Validates Resource Estimate a...
2/27/2012International Tower Hill Mines Reports Historical Resource o...
1/16/2012International Tower Hill Mines Changes Fiscal Year End
1/4/2012International Tower Hill Mines Grants Options
12/20/2011International Tower Hill Mines Appoints Robert D. Comer as I...
8/29/2011International Tower Hill Mines Files 2011 Audited Annual Fin...
8/23/2011International Tower Hill Announces Surface Mine Measured & I...
8/16/2011International Tower Hill Mines Appoints Harold Galbriath as ...
7/28/2011International Tower Hill Mines Grants Stock Options
5/10/2011International Tower Hill Mines Appoints James Komadina as Ne...
5/6/2010 Signs Key Exploration Agreement with Ahtna
2/11/2010Receives Share Ownership Top-up Notice from AngloGold Ashant...
1/12/2010Hires Chief Operating Officer
11/26/2009to Begin Trading on Toronto Stock Exchange
11/18/2009Receives Conditional Toronto Stock Exchange Listing Approval
10/13/2009Expands Livengood Gold Resource by 64%
7/10/2009Receives Share Ownership Top-up Notice from AngloGold Ashant...
7/3/2009Retains Renmark Financial Communications Inc.
5/20/2009Receives Proceeds of $23,114,288 from Warrant/Broker Option ...
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