International Tower Hill Mines Announces Executive Leadership Transition to Advance Livengood Gold Project

International Tower Hill Mines Ltd. (ITH) announced a leadership transition on July 27, 2026, aimed at advancing the 13.6 moz Livengood Gold Project through feasibility, permitting, financing, and construction. David Wiens has been appointed CEO, effective August 17, 2026. Wiens brings a background in capital markets and mine financing, having previously served as CFO of Asante Gold, where he led approximately $1 billion in financing transactions. His prior experience includes roles at SSR Mining, Bunker Hill Mining, and Deutsche Bank.

Shane Parrow has been appointed President and COO, effective immediately. Parrow possesses deep operational experience in Alaska, having served as Vice President and General Manager of Kinross Alaska, overseeing the Fort Knox and Manh Choh operations. He also holds earlier roles at Argonaut, Sibanye-Stillwater, Barrick, and Newmont. Outgoing CEO Karl Hanneman, who has over 40 years of experience in Alaska mining, will remain as Strategic Advisor and Director to ensure a smooth handover.

To align with shareholders, Wiens is subscribing for US$200,000 of common shares via a private placement upon his start date. Additionally, inducement RSUs have been granted to the new executives: 312,500 shares to Parrow and US$1.65 million worth to Wiens, both vesting ratably over three years. Chairman Marcelo Kim highlighted the complementary skill sets of the new leadership, combining Wiens’ capital markets and financing expertise with Parrow’s Alaska project development and permitting experience.

International Tower Hill Mines Ltd. (ITH) is advancing the Livengood project toward a bankable feasibility study and permitting phase. The company has appointed a new CEO with a proven record in large-scale mine financings, a move that aligns with the project’s evolution from the previous leadership’s focus on permitting and operations.

The feasibility-study team was announced on May 13, 2026, following a US$118 million financing in January 2026 that provided runway for the 2026 work program, which is budgeted at $20–25 million. While the CEO change was not pre-announced, the market recognizes that appointing a finance-oriented leader is a standard step as a project moves toward a construction decision.

The transition represents an incremental positive that does not alter the resource size, capital expenditure, or timeline. The new CEO’s expertise may improve the odds of securing the approximately $1.93 billion in initial capital expenditure, though that remains a multi-year milestone.

There is no trading data available following the release. The stock closed at $2.94 on July 23, down from a May peak near $3.90. Leadership changes of this nature typically generate a short-term sentiment boost but rarely change fundamental valuation.

International Tower Hill Mines Ltd. (ITH) is a pre-revenue gold explorer and developer focused on its 100%-owned Livengood Gold Project in Alaska, USA. The company holds 13.6 million ounces of Measured and Indicated resources grading 0.60 g/t and 9.0 million ounces of Proven and Probable reserves grading 0.65 g/t.

A 2023 Pre-Feasibility Study outlined a 65,000 tonnes per day throughput operation with a 21-year mine life. The study projected average production of 388,600 ounces per year in the first five years, with a life-of-mine all-in sustaining cost of approximately $1,171 per ounce at a gold price of $1,680 per ounce. Initial capital expenditure was estimated at roughly $1.93 billion.

The project benefits from its location adjacent to the Dalton Highway, approximately 70 miles from Fairbanks, and 50 miles from grid power, eliminating the need for a mine camp. Alaska is considered a tier-1 mining jurisdiction with a supportive regulatory stance.

In 2026, the company launched a Bankable Feasibility Study conducted by a consortium including BBA, Hatch, Newfields, RDA, and JDS. Current work includes a 3,000-metre metallurgical drilling programme and antimony by-product test-work, which has yielded early positive results.