International Tower Hill Mines Ltd. Closes $10,500,000 Bought Deal Equity Financing

International Tower Hill Mines Ltd. ("ITH" or "the Company") (TSX VENTURE: ITH)(NYSE Alternext US: THM)(FRANKFURT: IW9) is pleased to announce that, on March 4, 2009, it closed its previously announced private placement through a syndicate of underwriters ("Underwriters") and sold an aggregate of 4,200,000 common shares of the Company ("Shares") at a price of $2.50 per Share for gross proceeds of $10,500,000 on a bought deal basis in Canada and a concurrent private placement in the United States to accredited investors (the "Offering").

The Underwriters received a 7% cash commission ($735,000) and 294,000 non-transferrable broker's warrants ("Broker Warrants"). Each Broker Warrant is exercisable to acquire one common share of the Company at $2.95 until September 4, 2010. The Company also paid the Underwriters' expenses and costs of the Offering.

All securities issued in the Offering have a hold period in Canada which expires on July 5, 2009.

The Company intends to use the net proceeds for continued work on its Livengood Gold project in Alaska, as well as further work on its other Alaskan and Nevada mineral properties and for general working capital. As a result of the Offering, the Company now has 48,529,588 common shares outstanding (approximately 60,793,690 common shares on a fully diluted basis).

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the foregoing securities in the United States. None of the foregoing securities have been, nor will they be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About International Tower Hill Mines Ltd.

International Tower Hill Mines Ltd. is a resource exploration company, focused in Alaska and Nevada, which controls a number of exploration projects representing a spectrum of early stage to the advanced multimillion ounce gold discovery at Livengood. ITH is committed to building shareholder value through new discoveries while maintaining a majority interest in its key holdings, thereby giving its shareholders the maximum value for their investment.

On behalf of INTERNATIONAL TOWER HILL MINES LTD.

Jeffrey A. Pontius, President and Chief Executive Officer

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 27E of the Exchange Act. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the anticipated use of proceeds of the bought deal financing and concurrent private placement in the US, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate 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, risks associated with the timing and pricing of the financing, pricing fluctuations in metal prices, currency fluctuations, dilution, the volatility of the Company's common share price and volume; and tax consequences to U.S. investors, variations in the nature, quality and quantity of any mineral deposits that may be located, the Company's inability to obtain any necessary permits, consents or authorizations required for its activities, the Company's inability to produce minerals from its properties successfully or profitably, to continue its projected growth, 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 Information Form filed with certain securities commissions in Canada and its annual report on Form 20-F filed with the United States Securities and Exchange Commission (the "SEC"), 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 technical reports filed with respect to the Company's mineral properties.

NR09-07US

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

Contacts: International Tower Hill Mines Ltd. Quentin Mai Vice-President - Corporate Communications (604) 683-6332 or Toll Free: 1-888-770-7488 (604) 408-7499 (FAX) Email: This email address is being protected from spambots. You need JavaScript enabled to view it. Website: www.internationaltowerhill.com

SOURCE: International Tower Hill Mines Ltd.

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