International Tower Hill Mines Ltd. · TSX:ITH
International Tower Hill Mines — Investor Presentation (October 2025)
21 slides from International Tower Hill Mines's investor presentation, October 2025
Slide 1: Largest Wholly Owned Gold Resource in North America
Largest Wholly Owned Gold Resource in North America Corporate Presentation October 2025 Alaska Headquarters Tower Hill Mines, Inc. 506 Gaffney Road, Suite 200 Fairbanks, AK 99701 1-855-428-2825 TSX: ITH TSX: ITH| | NYSE NYSEAmerican: American:THM THM www.ithmines.com www.ithmines.com
Slide 2: Forward-Looking & Cautionary Statements
Forward-Looking & Cautionary Statements Scientific or technical information contained herein is derived from the Company’s pre-feasibility study (the “PFS”) for its Livengood Gold Project (“Livengood” or the “Project”), which is presented in technical report prepared in compliance with SK-1300 (“202
Slide 3: Largest Wholly Owned Gold Resource in North America
Largest Wholly Owned Gold Resource in North America 15 13.6 11.0 10 M&I Resources (m oz) 9.1 7.0 6.0 5 4.5 0 Livengood Courageous Mt Todd Greenstone Stibnite Eskay (ITH) Lake (Victoria Gold) (Equinox) (Perpetua) (Skeena) (Seabridge) Source: ITH - 2023 Technical Report Summary, All others - Public di
Slide 4: Exceptional Value Upside with Higher Gold Prices
Exceptional Value Upside with Higher Gold Prices NPV(5%) Increases 6x with 0.4x Increase in Gold Price NPV at 0% ($M) NPV at 5% ($M) $5,102 $2,500 $2,351 Gold Price ($/oz) $2,729 $2,000 $975 $1,741 $1,800 $400 ITH Mkt Cap ($M) $426 Current Market Cap 18% of NPV (5%) at $2,500/oz Gold Price $- $1,500
Slide 5: Opportunity To Invest At Low Valuation
Opportunity To Invest At Low Valuation 301 300 213 150 54 43 44 18 0 Belo Sun Seabridge Gold ITH Vista Gold NovaGold Perpetua Mining Resources Fully Diluted Shares, Market Price and Proven & Probable Reserves of companies other than ITH based on corporate websites as of October 13, 2025. ITH Proven
Slide 6: Livengood Gold Resource and Reserve
Livengood Gold Resource and Reserve ▪ 13.6m Ounces Measured & Indicated Resources at $1,650/oz (705m Tonnes, Avg. Grade 0.60 g/t, variable cut-off grades) ▪ 9.0m Ounces Proven & Probable Reserves at $1,680/oz (430m Tonnes, Avg. Grade 0.65 g/t, variable cut-off grades) ▪ 776 Drill Holes Totaling 711,
Slide 7: Lowest Strip Ratio Amongst Independent Gold-Only Projects in North America
Lowest Strip Ratio Amongst Independent Gold-Only Projects in North America 10.5 10 7.4 Life-of-Mine Strip Ratio 5 4.8 3.9 2.5 1.2 0 Livengood Stibnite *Greenstone Magino Courageous Lake Back River (ITH) (Perpetua) (Equinox) (Argonaut) (Seabridge) (B2Gold) Source: ITH – 2023 Technical Report Summary,
Slide 8: Alaska: Safe and Rich Mining Jurisdiction
Alaska: Safe and Rich Mining Jurisdiction Numerous Mines in Operation • Red Dog (Teck/NANA), Fort Knox (Kinross), Pogo (Northern Star), Manh Choh (Kinross/Contango), Kensington (Coeur), Greens Creek (Hecla), Usibelli (UCM) Second Largest Gold Producing State in USA Livengood Mining District Active S
Slide 9: Low Strip Ratio & Gently Rolling Terrain Underpin Highly Favorable Mining Conditions
Low Strip Ratio & Gently Rolling Terrain Underpin Highly Favorable Mining Conditions TSX: ITH | NYSE American: THM 9 www.ithmines.com
Slide 10: Unparalleled Infrastructure Advantages
Unparalleled Infrastructure Advantages 70 Miles NW of Fairbanks • Accessible Year-Round via Paved Highway 50 Miles from Electric Grid Power • Easy Access To Grid Following Trans-Alaska Pipeline System, a Designated Utility Corridor That Is Already in Operation No Need for a Camp Access to Highly Ski
Slide 11: 2023 Technical Report Summary De-Risking Livengood Gold Project
2023 Technical Report Summary De-Risking Livengood Gold Project Solid Foundation For The Future ▪ Whittle & BBA collaboration on project optimization ▪ Detailed geological model ▪ Conservative resource modelling ▪ Robust metallurgical test work ▪ First principles approach on engineering TSX: ITH | N
Slide 12: Significant Production Profile Supports Enviable Mine Life
Significant Production Profile Supports Enviable 21 Year Mine Life – 6.4M Oz 500,000 400,000 Year 1-5 Avg 388,600 oz/yr LOM Avg 316,900 oz/yr Annual Gold Production (oz) 300,000 200,000 100,000 0 1 5 9 13 17 21 Year Source: 2023 Technical Report Summary TSX: ITH | NYSE American: THM 12 www.ithmines.
Slide 13: Excellent Exploration Potential
Excellent Exploration Potential Defined Exploration Potential Exists at Depth and SW of Existing Resource Current Resource Covers 1 Square Mile of the Company’s Expansive 75 Square Mile Land Package TSX: ITH | NYSE American: THM 13 www.ithmines.com
Slide 14: De-Risked Livengood Gold Project
2023 Technical Report Summary De-Risked Livengood Gold Project ▪ Project size optimized at 65,000 tons/day ▪ 6.4 million ounces of gold produced over 21 years ▪ Capital Cost ▪ Initial $1.93 billion ▪ Sustaining $ 658 million ▪ Operating Cost ▪ Year 1-5 $ 887/oz ▪ Life of Mine $1,068/oz ▪ All-in Sust
Slide 15: 2025 Metallurgical Program
2025 Metallurgical Program Table 1. Livengood Gold Project Vein Composite Assays Sample Au g/mt Sb% SB12 4.19 2.75 SB24 3.72 2.31 SB40 3.31 1.41 SB46 3.21 1.05 Antimony Deportment (by AMTEL) ▪ antimony is carried by stibnite ▪ most of the stibnite is of a floatable size (>10 micron) ▪ liberation of
Slide 16: Ongoing Environmental Baseline Program Prepare for Future Permitting
Ongoing Environmental Baseline Program Prepare for Future Permitting ▪ Rock Characterization ▪ Geohydrology ▪ Surface Water & Hydrology ▪ Meteorology ▪ Air Quality ▪ Wetlands & Vegetation ▪ Aquatic Studies ▪ Cultural Resources ▪ Noise Studies ▪ Wildlife & Habitat Studies TSX: ITH | NYSE American: TH
Slide 17: ITH: Impressive Shareholder Support
ITH: Impressive Shareholder Support Demonstrated Commitment to Alaska 33.8% Paulson ____ ____ 13.3% Electrum ____ 9.5% Sprott ____ 7.0% Kopernik 36.4% Public Float TSX: ITH | NYSE American: THM 17 www.ithmines.com
Slide 18: ITH: A Premier American Gold Play
ITH: A Premier American Gold Play ▪ Largest Wholly Owned North American Gold Deposit ▪ Exceptional Value Upside with Higher Gold Prices ▪ Current Market Capitalization Only 18% of Project NPV(5%) at $2,500/oz Gold Price* ▪ Easy Access to Critical Infrastructure ▪ 2023 Technical Report Summary ▪ 2025
Slide 19: Alaskan Management Team
Alaskan Management Team Track Record of Large Mine Development and Permitting Success Mr. Hanneman has over 40 years of Alaska-based mining industry experience and most recently was COO of ITH. Prior to joining the Company in 2010, he played a key role on the team that worked to Karl L. Hanneman res
Slide 20: Board of Directors
Board of Directors Partner at Paulson & Co. Inc. since 2011, where he oversees natural resource investments, specializing in gold, base metals, bulk commodities Marcelo Kim and oil & gas. Prior to that, commencing in 2009, he was a generalist analyst covering event arbitrage investment opportunities
Slide 21: Capital Structure & Treasury
Capital Structure & Treasury TSX: ITH - NYSE American: THM (As of June 30, 2025) Issued & Outstanding Shares 207,885,473 Working Capital (As of June 30, 2025) $2.9 Million Major Shareholders Shares Held % Paulson & Co. Inc. 70,239,388 33.8 Electrum Group LLC 27,613,581 13.3 Sprott Inc. 19,778,015 9.
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