International Tower Hill Mines Ltd. (ITH) completed an upsized public offering of 33,672,000 common shares at US$2.22 per share, raising gross proceeds of approximately US$74.8 million (about C$101.6 million) before underwriting discounts and estimated expenses, including 4,392,000 shares issued on full exercise of the underwriters’ option. Concurrently, ITH completed a US$40 million (about C$54.4 million) private placement of 18,018,018 common shares to related party Paulson & Co. Inc. at the public offering price, bringing total gross proceeds from the public offering and concurrent private placement to approximately US$114.8 million (about C$156.0 million). On January 29, 2026, Paulson or its affiliate subscribed for an additional 1,501,982 common shares at the public offering price for further proceeds of approximately US$3.3 million (about C$4.5 million), resulting in total gross proceeds from the overall offering of approximately US$118 million (about C$160.3 million). ITH, a mineral exploration company focused on the development of its 100% interest in the Livengood Gold Project northwest of Fairbanks, Alaska, expects to use the net proceeds to fund exploration and development activities at Livengood, including drilling, metallurgical, feasibility and technical studies, baseline environmental work, detailed engineering in support of permitting, permitting, legal support, community engagement, mineral lease and land payments, acquisitions and general corporate purposes. McCarthy Tétrault advised ITH on the transaction with a team led by Robin Mahood, including James Lin, Trena Graff (Business), and Fred Purkey and James Chang (Tax).