International Tower Hill Mines Ltd 2024年度报告

April 16, 2025 Dear Fellow Shareholders: On behalf of International Tower Hill Mines Ltd. (“ITH” or the “Company”), I am pleased to provide you with the 2024Annual Report to Shareholders. The Company filed its most recent Technical Report Summary (“TRS”) on October 17,2023, which confirmed that the Livengood Gold Project has proven and probable reserves of 430.1 million tonnes at anaverage grade of 0.65 g/tonne (9.0 million ounces) based on a gold price of $1,680 per ounce and measured and indicatedmineral resources, exclusive of mineral reserves, of 274.51 million tonnes at an average grade of 0.52 g/tonne (4.62 millionounces), based on a gold price of $1,650 per ounce. The Company cautions that the TRS is preliminary in nature, and is based on technical and economic assumptions whichwill be further refined and evaluated in a full feasibility study. The TRS is based on a Project mineral resource estimateeffective as of August 20, 2021 that is current as of December 31, 2024. The Project is currently in the development stageand a production decision has yet to be made. On March 4, 2025, the Company announced that it had completed a non-brokered private placement (the “PrivatePlacement”) pursuant to which it issued common shares to existing major shareholders to raise gross proceeds ofapproximately US$3.9 million to be used in part to study the massive stibnite antimony mineralization at the LivengoodGold Project. The Private Placement consisted of 8,192,031 common shares of the Company at a price of US$0.4801 percommon share. The price of gold has repeatedly hit record highs over the last several months. For a highly leveraged and potentiallysignificantly undervalued gold asset like the Livengood Gold Project, when the price of gold rises at a rate much fasterthan the underlying inflation rate, the opportunity to add value going forward is exciting. During recent unsettled financialmarkets, gold has demonstrated its value for diversification as risks to monetary assets increase. It appears that the marketis finally waking up to this future reality and investors who want diversification are turning to gold. ITH offers a simple, pure gold, highly leveraged opportunity for investors who seek to diversify and protect some of theirassets. ITH owns the single largest gold asset in North America not owned by a major. The deposit is on the paved highwaysystem, close to grid power, in the heart of a mining district in central Alaska that was selected by the State of Alaska forits mineral potential. The excellent environmental, permitting, and operating records of our nearby neighbors, the KinrossFort Knox mine and the Northern Star Pogo mine, demonstrate that the mining industry can thrive in interior Alaska. ITHremains well positioned to capitalize on strong gold markets. The 2025 Annual General Meeting (the “AGM”) of shareholders will be held on Wednesday, June 4, 2025 at 9:30 a.m.,Pacific Daylight Time, at the offices of McCarthy Tetrault LLP, located at Suite 2400 - 745 Thurlow Street, Vancouver,British Columbia. The Notice of Meeting and Information Circular/Proxy Statement for the AGSM have been sent orotherwise made available to you and, as these documents contain important information, you are encouraged to read themcarefully. You are welcome to submit your proxy by the proxy deadline (9:30 a.m. Pacific Daylight Time / 12:30 p.m. EasternDaylight Time) on Monday, June 2, 2025 rather than attending the meeting. A dedicated phone line (+1-866-832-4451 or +1-416-406-3844, access code 8766704) will be available for shareholders to listen to the meeting. On behalf of the Company, I thank you for being a shareholder. Please feel free to contact us through our website atwww.ithmines.com or by calling us at 1-855-428-2825. Sincerely,/s/Karl L. HannemanKarl L. HannemanChief Executive OfficerInternational Tower Hill Mines Ltd. This annual report contains forward-looking statements and forward-looking information (collectively, “forward-lookingstatements”) within the meaning of applicable Canadian and US securities legislation. All statements, other than statementsof historical fact, included herein, including statements with respect to the ability of the Company to advance the LivengoodProject, whether incrementally or at all, the Company’s future cash requirements, the Company’s ability to meet itsfinancial obligations as they come due, the Company’s estimates of the quality and quantity of the mineral resources at theLivengood Gold Project, the timing and cost of any future exploration programs at the Livengood Gold Project, and thetiming of the receipt of results therefrom, and future general business and economic conditions, including changes in theprice of gold are forward-looking statements. Information concerning mineral reserve/resource estimates and the economicanalysis thereof contained in the 2021 pre-feasibility study and the Company’s S-K 1300 Technical Report Summary alsomay be deemed to be for