International Tower Hill Mines Announces Corporate Update and 2012 Year End Financial Results

Wed Mar 13, 2013 6:38pm EDT

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International Tower Hill Mines Ltd.

March 13, 2013 - 06:37:57 PM

International Tower Hill Mines Announces Corporate Update and 2012 Year End
Financial Results

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 13, 2013) - International
Tower Hill Mines Ltd. ("ITH" or the "Company") (TSX:ITH)(NYSE
MKT:THM)(FRANKFURT:IW9) announces the filing, today, of the Company's Annual
Report on Form 10-K, including the audited financial statements, for the
fiscal year ended December 31, 2012, which was filed with the US Securities &
Exchange Commission and certain securities commissions in Canada. Highlights
provided in this news release should be read in conjunction with the Company's
10-K. All dollar amounts are in U.S. dollars unless otherwise stated.

ITH ended 2012 with a working capital of $27.7 million. The Company is
focusing on completing all the engineering and analysis to support the
completion of its Feasibility Study and the environmental work needed to
maintain its current schedule.

ITH is also pleased to report that the Livengood Feasibility/Optimization
Study is on schedule and on budget. To date, the following items have been
completed and trade off studies are being conducted:



--  The mine design/production schedule alternatives have been completed,
    including equipment specifications and bids. 
--  Metallurgical tests to optimize recovery have been completed. 
--  The milling process design circuit has been completed and throughput
    optimization is currently being assessed. The mill will include an
    initial gravity circuit followed by standard carbon in leach recovery
    circuit (CIL) similar to the process used at the Fort Knox mine, 45 air
    miles to the southeast. Equipment bids have been received and are being
    reviewed. 
--  Environmental baseline information collection has entered its fifth
    year, establishing critical benchmarks for mine permitting needs.



Don Ewigleben, President and CEO stated, "I am excited to be moving the
Livengood project into this final phase of Feasibility and Optimization. This
world class gold project continues to show significant potential for becoming
one of the largest new gold mines in the world. The project is a very large
gold resource in a favorable mining jurisdiction; the existing infrastructure
and a high quality development team will continue to make ITH an attractive
long-term investment."

Effective January 1, 2013, the Company began reporting as a U.S. domestic
filer under the rules of the U.S. Securities and Exchange Commission. As a
U.S. domestic filer, the Company is required to file financial statements
using accounting principles generally accepted in the United States of
America, (US GAAP) rather than the International Financial Reporting Standards
(IFRS) previously used.

Shareholders can obtain copies of the Company's 10-K, including the audited
financial statements for the period ended December 31, 2012 and related
management discussion and analysis, on SEDAR (www.sedar.com), EDGAR
(www.sec.gov) and on ITH's website at (www.ithmines.com). ITH will also
provide hard copies of this document, 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 a 100% interest in the
world-class Livengood Gold Project accessible by paved highway 70 miles north
of Fairbanks, Alaska.

On behalf of International Tower Hill Mines Ltd.

Donald C. Ewigleben, President & Chief Executive Officer

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 timing for the completion and anticipated release of a
Feasibility Study and/or Optimization Study for Livengood, the potential for a
production decision to be made at Livengood, the potential commencement of any
development of a mine at Livengood following a production decision, 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, 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 inability of the Company to obtain any necessary
permits, consents or authorizations required for its activities, the inability
of the Company 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 (10-K) filed
with certain securities commissions in Canada and the Company's annual report
on Form 10-K 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 technical reports filed with
respect to the Company's Livengood property.

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.

FOR FURTHER INFORMATION PLEASE CONTACT: 
International Tower Hill Mines Ltd.
Michelle Stachnik
Manager - Investor Relations
Toll-Free: 1-855-208-4642 Ext. 203
mstachnik@ithmines.com
www.ithmines.com
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