David Wiens Appointed Chief Executive Officer and Director and Shane Parrow Appointed President, Chief Operating Officer, and Director
Incoming CEO David Wiens to Invest Through One-Time Private Placement in Connection with Appointment
Karl Hanneman to Continue as Strategic Advisor and Director, supporting a seamless leadership transition
New leadership team combines extensive capital markets, project financing, Alaska operations and mine development experience as Company positioned to advance Livengood through feasibility, permitting, financing, and development
VANCOUVER, BC, July 27, 2026 /PRNewswire/ -- International Tower Hill Mines Ltd. (the "Company") - (TSX: ITH) (NYSE American: THM) is pleased to announce the appointment of David Wiens as Chief Executive Officer and Director and Shane Parrow as President, Chief Operating Officer and Director, effective August 17 and July 27, 2026, respectively. The appointments bring together extensive capital markets, mine financing, project development and Alaska operating experience as the Company enters its next phase focused on completing a feasibility study, advancing permitting, securing financing and positioning the Livengood Gold Project for development. Livengood, which contains 13.6 million ounces in gold resources, is among one of the largest undeveloped gold projects in the United States.
Marcelo Kim, Chairman of International Tower Hill, stated: "We are extremely pleased to welcome David and Shane to the leadership team and Board of Directors of International Tower Hill. David brings extensive experience raising mine development capital, structuring project financing and leading public mining companies, while Shane brings deep permitting, mine development and operational experience in Alaska. Together, they form a highly complementary leadership team with the experience required to advance Livengood through feasibility, permitting, financing and construction to unlock its full value."
The Company also announced that Karl Hanneman will transition from his role as Chief Executive Officer and remain with the Company as Strategic Advisor and Director to support the leadership transition and ongoing advancement of the Livengood Gold Project.
Mr. Kim continued: "We would also like to express our sincere gratitude to Karl Hanneman for his outstanding leadership, dedication, and stewardship of the Company. Karl has been instrumental in strengthening the Company's technical foundation, maintaining strong stakeholder relationships, and positioning the Company for the future. We are very pleased that Karl will continue to work closely with the Company as Strategic Advisor and Director to ensure a seamless transition and provide access to his deep knowledge of the project as we advance Livengood into its next phase."
David Wiens brings more than two decades of mining finance, capital markets and strategic leadership experience across the global mining sector. Mr. Wiens most recently served as Chief Financial Officer of Asante Gold Corporation, where he led approximately $1 billion of innovative financing transactions to support its growth into a mid-tier gold producer while transforming its shareholder register. Prior to Asante, he held executive roles at a number of Americas-focused production and development stage mining companies, including SSR Mining and Bunker Hill Mining. Prior to his corporate roles, he was a mining investment banker at several financial institutions, including Deutsche Bank.
In connection with his appointment, Mr. Wiens has agreed to subscribe for US$200,000 of common shares of the Company. The investment reflects Mr. Wiens' confidence in the Company's long-term prospects and further aligns his interests with those of shareholders. The private placement is expected to close following his commencement as Chief Executive Officer, subject to customary regulatory approvals and the execution of definitive subscription documentation.
Shane Parrow is a highly experienced mining executive with nearly 30 years of operational, engineering and project development experience across open pit and underground mining operations. Most recently, Mr. Parrow served as Vice President & General Manager of Kinross Alaska, overseeing the Fort Knox and Manh Choh operations. Mr. Parrow played a key leadership role in the successful development and ramp-up of the Manh Choh project, which was delivered on time and on budget while outperforming feasibility expectations. Prior to Kinross, Mr. Parrow held senior operating and project leadership roles at Argonaut Gold, Sibanye-Stillwater, Barrick and Newmont.
Mr. Wiens commented: "I am excited to join International Tower Hill at such an important stage in the evolution of the Company. Livengood is a world-class gold project with significant scale and strategic importance. I look forward to working closely with Shane, the Board and the broader team to advance the project responsibly and create long-term value."
Mr. Parrow added: "Livengood represents one of the most compelling development-stage gold projects in North America. I am excited to apply my operational and project development experience in Alaska to help advance the project through the next stages of engineering, permitting and development."
Mr. Wiens is a CFA Charterholder and holds a Bachelor of Commerce degree from the University of British Columbia. Mr. Parrow holds both Bachelor's and Master's degrees in Mining Engineering from Montana Tech and is a registered Professional Engineer in Montana.
In connection with their appointment as of officers of the Company, the independent directors of the Company have approved the grant of restricted share units (the "Inducement RSUs") to each of Mr. Wiens and Mr. Parrow. Mr. Parrow has been granted 312,500 Inducement RSUs on the date hereof and Mr. Wiens will receive US$1.65 million of Inducement RSUs on his start date in August, with the number of Inducement RSUs he receives to be determined with reference to the five-day volume weighted average price of the Company's common shares on the NYSE American on his start date. The Inducement RSUs will in each case be settled for cash or common shares, at the option of the Company, and will vest ratably on an annual basis over three years. The Inducement RSUs have been granted pursuant to the inducement grant exception under Section 711(a) of the NYSE American Company Guide and Section 613(c) of the TSX Company Manual, and are being disclosed in this press release in satisfaction of the public announcement requirement under Section 711(a) of the NYSE American Company Guide.
About International Tower Hill Mines Ltd.
International Tower Hill Mines Ltd. is focused on advancing the Livengood Gold Project located along the paved Elliott Highway, 70 miles north of Fairbanks, Alaska. Livengood is one of the largest undeveloped gold projects in the United States and is positioned in a stable mining jurisdiction with significant existing infrastructure advantages.
On behalf of
International Tower Hill Mines Ltd.
(signed) Karl L. Hanneman
Chief Executive Officer
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.
Forward-Looking Statements
Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, as amended, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and "forward-looking information" within the meaning of applicable Canadian securities laws (collectively, "forward-looking statements"). Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that could cause the actual results of the Company to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements containing the terms "intends," "estimates," "may," "might", "will," or other similar expressions to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The forward-looking statements in this press release, including statements regarding estimates of the quality and quantity of the mineral resources at the Livengood Gold Project, including gold and antimony, and the potential for production at the Livengood Gold Project are based upon the Company's current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties, including, without limitation: (i) the demand for, and level and volatility of the price of, gold, (ii) general business and economic conditions, (iii) the accuracy of the Company's resource estimates (including with respect to size and grade) and the geological, operational and price assumptions on which these are based, (iv) the timing of the Company's ability to commence and complete planned work programs at the Livengood Gold Project, including the feasibility study, (v) the Company's ability to attract and retain key staff, particularly in connection with the permitting and development of any mine at the Livengood Gold Project, and (vi) the Company's ability to secure the necessary services and supplies on favorable terms in connection with its programs at the Livengood Gold Project and other activities. The foregoing list of important factors that could cause actual events to differ from expectations should not be construed as exhaustive and should be read in conjunction with statements that are included herein and elsewhere, including the risk factors detailed in the "Forward-Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026 and other documents that have been and will be filed by the Company from time to time with the Securities and Exchange Commission and Canadian securities regulators. All forward-looking statements contained in this press release speak only as of the date on which they were made. The Company undertakes no obligation to update such statements to reflect events that occur or circumstances that exist after the date on which they were made, except as required by applicable securities laws.
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SOURCE International Tower Hill Mines Ltd.
