Int'l Tower Hill closes $5-million second tranche

International Tower Hill Mines Ltd (C:ITH)
Shares Issued 86,683,919
Last Close 9/17/2012 $2.87
Tuesday September 18 2012 - News Release

Mr. Jeffrey Pontius reports

INTERNATIONAL TOWER HILL CLOSES SECOND TRANCHE OF NON-BROKERED EQUITY FINANCING

International Tower Hill Mines Ltd. has closed the second tranche of its previously announced non-brokered private placement financing of common shares to raise total gross proceeds of $29.6-million.

The second tranche of the Offering consisted of the issuance of 1,926,411 common shares at a price of CAD 2.5955 per share (representing a 10% discount from the five day volume weighted average price for the common shares as at September 10, 2012) to raise aggregate gross proceeds of CAD 5 million. The Company paid a cash finder's fee of 4% in connection with the issuance of these shares. The common shares issued in the second tranche of the Offering will be subject to a hold period in Canada of four months from the closing of the second tranche. All common shares issued in the second tranche will be subject to resale restrictions under U.S. federal and state securities laws.

The Company intends to use the net proceeds of the Offering for the completion of its bankable Feasibility Study at the Livengood Gold project in Alaska and for general working capital purposes.

The common shares issued in the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "1933 Act") or any applicable securities laws of any state of the United States and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the common shares to be issued in the Offering, nor shall there be any offer or sale of the common shares to be issued in the Offering in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

We seek Safe Harbor.

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