International Tower Hill Mines Ltd

International Tower Hill Mines Ltd. (“ITH” or the “Company”) (TSX: ITH; NYSE-MKT: THM) today announced the results of a Pre-Feasibility Study (the “PFS”) on an optimized configuration for its Livengood Gold Project (the “Project”) located near Fairbanks, Alaska.  The engineering optimization studies incorporated in the PFS evaluated several scenarios, ultimately selecting a project that will process 52,600 tons per day and produce 6.8 million ounces of gold over 23 years.  This improved configuration has reduced the capital costs (“CAPEX”) by 34% or $950 million to $1.84 billion, the process operating cost (“process OPEX”) by 28% or $2.97 per ton to $7.48 per ton, and the all-in sustaining costs by 16% or $242 to $1,263 per ounce, all as compared to the 100,000 tons per day project evaluated in the September 2013 Feasibility Study (the “FS”).  All dollar figures in this news release are stated in US Dollars.

International Tower Hill Mines (ITH) is focused on the rapid exploration and development of its 100% controlled world-class Livengood Gold Project located 70 miles north of Fairbanks, Alaska. At a resource size of 16.5 million ounces in the Measured & Indicated categories plus 4.1 million ounces in the Inferred category, the Livengood project ranks as one of the largest gold deposits discovered globally in 20 years. Led by a team of major mining experts from AngloGold Ashanti, Teck Resources and Kinross with strong track records of development, permitting and operational success, ITH is committed to advancing the Livengood Project towards becoming Alaska's next major gold mine.