International Tower Hill Mines Ltd (NYSE: THM)

International Tower Hill Mines Ltd is a mineral exploration and development company engaged in the acquisition and advancement of gold projects. The company’s primary asset is the Livengood Gold Project located in Alaska which is a development stage deposit with proven and probable reserves of 430.1 million tonnes at an average grade of 0.65 grams per tonne corresponding to approximately 9.0 million ounces of gold based on a gold price of 1,680 dollars per ounce. In addition the project hosts measured and indicated mineral resources exclusive of reserves of 274.51 million tonnes at an average grade of 0.52 grams per tonne corresponding to about 4.62 million ounces of gold based on a gold price of 1,650 dollars per ounce. The Livengood Gold Project is envisioned as a conventional owner operated surface mine that would process 65,000 tonnes per day using large scale mining equipment in a blast load haul operation feeding a comminution circuit that includes primary and secondary crushing wet grinding in a single SAG mill and a single ball mill followed by a gravity gold circuit and a conventional carbon in leach circuit. The technical report summary estimates capital costs of approximately 1.93 billion dollars an all in sustaining cost of 1,171 dollars per ounce and a net present value at 1,800 dollars per ounce of 400 million dollars using a five percent discount rate.

International Tower Hill Mines Ltd has not yet commenced commercial production and therefore does not generate revenue from the sale of gold or other minerals. The company finances its activities primarily through equity offerings such as the public offering completed on January 27, 2026 where 33,672,000 common shares were sold at 2.22 dollars per share for gross proceeds of approximately 74.8 million dollars and a concurrent private placement to affiliates of Paulson & Co Inc where 19,520,000 common shares were issued at the same price for gross proceeds of approximately 43.3 million dollars. The proceeds are intended to fund further metallurgical studies including evaluation of antimony recovery from stibnite veins the initiation of a feasibility study drilling programs to obtain fresh core for test work community engagement and the collection of baseline environmental data in support of future permitting. As of December 31, 2025 the company employed three individuals and relied on consultants with expertise in geology drilling engineering permitting and investor relations to advance the Livengood Gold Project.

International Tower Hill Mines Ltd operates in a highly competitive environment where numerous exploration and development companies compete for limited financing technical expertise and attractive mineral properties. Many of these competitors have greater financial resources and larger technical teams enabling them to allocate more capital to property acquisition exploration and advancement. The company’s competitive strengths stem from its 100 percent ownership of the Livengood Gold Project the completion of a technical report summary that de risks the project through independent review and its ability to advance the project through disciplined technical studies partnership support and a dedicated technical committee that oversees health safety community relations and environmental matters. The technical report summary was prepared by independent consultants Whittle Consulting and BBA Inc and incorporated an expanded geological database improved modelling new resource estimation methodology an optimized mine plan and additional detailed metallurgical work which together reduce uncertainty around future capital and operating costs.

As a pre production entity International Tower Hill Mines Ltd does not yet serve customers for mineral sales. Its future customers are expected to include gold refiners bullion banks and other participants in the global gold market who would purchase dore or refined gold once the project reaches commercial production. Currently the company’s stakeholders consist of its investors the private placement partner Paulson & Co Inc regulatory agencies involved in the Alaska permitting process and local communities near the Livengood Gold Project with whom the company engages through hiring local workers and providing donations of money and supplies as appropriate.