International Tower Hill Mines Announces Shareholder Update and Conference Call Related to $7.9 Million Participation by Existing Major Shareholders in US $10.3 Million Public ATM Offering

VANCOUVER, Sept. 3, 2020 - International Tower Hill Mines Ltd. (TSX: ITH) (NYSE-American: THM) (the "Company") announced today that it will host a webinar and teleconference on Wednesday, September 9, 2020 to provide an update to shareholders and investors regarding the major shareholder participation in the At-The-Market ("ATM") financing announced on September 2, 2020.

In the September 2 announcement, the Company noted that its four largest shareholders took $7.9 million of a US $10.3 million At-The-Market ("ATM") Offering at the September 1, 2020 closing market price of US $1.40 per share.

Karl Hanneman, Chief Executive Officer, said "We accomplished several goals with this financing. First, we ensured more than enough funding to complete the Pre-Feasibility Study ("PFS") before us as well as give us an excellent runway to advance the project beyond the PFS in the best manner for shareholders. Second, we gained an opportunity to increase our market exposure and coverage by building a relationship with B. Riley, an experienced firm who understands Alaska and our project. And third, we respected all shareholders by keeping the capital raise tight and without a discount. I am most appreciative of the support of our major shareholders who continue to recognize Livengood's great attributes of size, location, leverage, and value. "

The Company invites you to attend a conference call and webcast hosted by Chairman Marcelo Kim, Lead Independent Director Steve Lang, and CEO Karl Hanneman to discuss the Company and this news release.

Conference Call & Webcast Details:

INTERNATIONAL TOWER HILL MINES's conference call and webcast details are provided below:

About International Tower Hill Mines Ltd.

International Tower Hill Mines Ltd. controls a 100% interest of the Livengood Gold Project, located along the paved Elliott Highway, 70 miles north of Fairbanks, Alaska.

On behalf of
International Tower Hill Mines Ltd.

(signed) Karl L. Hanneman
Chief Executive Officer

Cautionary Note Regarding Forward-Looking Statements
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 proposed use of the proceeds of the Offering by the Company, the ability of the Company to carry out and complete optimization studies with respect to the Livengood Gold Project, the ability of the Company to advance the Livengood Gold Project, the potential development of any mine at Livengood, 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, the use of proceeds from the Offering, the potential inability of the Company 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 report on Form 10-K and other reports filed with the United States Securities and Exchange Commission, and certain securities commissions in Canada 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 latest technical report filed with respect to the Livengood Gold Project.

This news release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States or Canada.

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SOURCE International Tower Hill Mines Ltd.