International Tower Hill Mines Ltd. announced that the Company will reorganize senior management and its Board of Directors, and implement a reduction in the work force. These changes are being made to focus the company's efforts on project optimization opportunities, maintenance of environmental baseline activities required for permitting, advancing discussions with companies holding confidentiality agreements and conserving cash. The company will retain the strong development and permitting team for moving the project forward, while maintaining ITH's significant gold asset. The company announced that Mr. Thomas Irwin has been appointed President and Chief Executive Officer effective January 1, 2014. Mr. Irwin has been serving as Vice President, supporting corporate strategic initiatives as well as being responsible for technical matters for the company's Livengood Gold Project. Mr. Irwin will succeed Don Ewigleben, who became CEO in September 2012, after having previously served as the Chairman of the Board. Mr. Ewigleben recently informed the Board of his desire to seek an orderly transition now that the company is properly organized for its present activities in conserving cash and in view of the current market conditions. Mr. Ewigleben has agreed to assist the company in this transition as a consultant and counsel. As part of the company's reorganization, effective January 1, 2014, Mr. Ewigleben will step down from the Board along with Mr. Dan Carriere, Mr. Tim Haddon and Mr. Roger Taplin; Mr. Anton Drescher, Mr. Mark Hamilton and Mr. Thomas Weng will remain on the Board and Mr. Weng will be the Lead Independent Director of the Board.

The company announced that total the company's staff will be reduced by approximately 30% effective January 1, 2014, affecting both the Denver and Fairbanks offices.