PRE-FEASIBILITY STUDY of the LIVENGOOD GOLD PROJECT Livengood, Alaska, USA
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.........................................................................................NI 43-101 Technical Report PRE-FEASIBILITY STUDY OF THE LIVENGOOD GOLD PROJECT Livengood, Alaska, USA Prepared for: %\ Tuali¿ed persons: International Tower Hill Mines Ltd. Colin A. Hardie, P. Eng. .............. BBA Inc. Ryan T. Baker, P.E. ...................... NewFields Mining Design & Technical Services, LLC Michael E. Levy, P.E. ................... SRK Consulting (U.S.) Inc. Timothy J. Carew, P. Geo. .......... SRK Consulting (Canada) Inc. Scott E. Wilson, CPG. ................. Metal Mining Consultants Inc. Effective Date: September 8, 2016 Timothy J. George, P.E. .............. Wildcat and Badger, LLC Signature Date: October 24, 2016 Tower Hill Mines Inc. 1,7HFKQLFDO5HSRUW Livengood Gold Project – Pre-feasibility Study DATE AND SIGNATURE PAGE 7KLVUHSRUWLVHIIHFWLYHDVRIWKHWKGD\RI6HSWHPEHU “Original signed and sealed” October 24, 2016 &ROLQ$+DUGLH3(QJ 'DWH %%$,QF “Original signed and sealed” October 24, 2016 5\DQ7%DNHU3( 'DWH 1HZ)LHOGV0LQLQJ'HVLJQ 7HFKQLFDO6HUYLFHV//& “Original signed and sealed” October 24, 2016 0LFKDHO(/HY\3( 'DWH 65.&RQVXOWLQJ 86 ,QF “Original signed and sealed” October 24, 2016 7LPRWK\-&DUHZ3*HR 'DWH 65.&RQVXOWLQJ &DQDGD ,QF “Original signed and sealed” October 24, 2016 6FRWW(:LOVRQ&3* 'DWH 0HWDO0LQLQJ&RQVXOWDQWV,QF “Original signed and sealed” October 24, 2016 7LPRWK\*HRUJH3( 'DWH :LOGFDWDQG%DGJHU//& %%$3URMHFW1R 2&72%(5 CERTIFICATE OF QUALIFIED PERSON Colin A. Hardie, P. Eng. I, Colin A. Hardie, P. Eng., do hereby certify that: 1. I am a Senior Process Metallurgist and Study Manager– Mining and Metals with the firm BBA Inc. located at 630 René-Lévesque Blvd. West, Suite 1900, Montréal, Quebec, H3B 4V5, Canada. 2. I am a graduate of the University of Toronto, Ontario, Canada with a BASc in Geological and Mineral Engineering (1996). In 1999, I graduated from McGill University of Montreal, Quebec, Canada, with a Master of Engineering in Metallurgy (Mineral Processing). In 2008, I received a Master of Business Administration (MBA) degree from the Université de Montréal (HEC), Montreal, Quebec, Canada. 3. I am a member in good standing of the Professional Engineers of Ontario (Member Number: 90512500) and of the Canadian Institute of Mining, Metallurgy, and Petroleum (Member Number: 140556). I have practiced my profession continuously since my graduation. 4. I have been employed in mining operations, consulting engineering and applied metallurgical research for over 20 years. My relevant project experience includes metallurgical testwork analysis, flowsheet development, cost estimation and financial modeling. Since joining BBA in 2008, I have worked as a senior process engineer and/or lead study integrator for numerous North American iron ore, precious metal, industrial mineral, and base metal projects. 5. I have read the definition of “qualified person” set out in the NI 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and certify that, by reason of my education, affiliation with a professional association, and past relevant work experience, I fulfill the requirements to be a qualified person for the purposes of NI 43-101. 6. I am independent of the issuer applying all the tests in Section 1.5 of NI 43-101. 7. I am responsible for the preparation of chapters 2, 3, 4, 5, 6, 13, 17, 18, 19, 20, 21, 22, 23, and 24, with the exception of section 18.17 and sections 21.2.1 to 21.2.3 and 21.4.3. I am also responsible for the relevant portions of chapters 1, 25, 26, and 27 of the technical report entitled “Pre-Feasibility Study of the Livengood Gold Project, Livengood, Alaska, USA” (the “Technical Report”), dated September 8, 2016. 8. I personally visited the property that is the subject to the Technical Report on August 15, 2016. 9. I have had no prior involvement with the property that is the subject of the Technical Report. 10. I have read NI 43-101 and the sections of the Technical Report for which I am responsible have been prepared in compliance with NI 43-101. 11. As at the effective date of the Technical Report, to the best of my knowledge, information and belief, the sections of the Technical Report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the portions of the Technical Report for which I am responsible not misleading. Dated: October 24, 2016 [Signed & sealed] Colin Hardie, P. Eng. CERTIFICATE OF QUALIFIED PERSON Ryan T. Baker, P. E. I, Ryan Baker, P. E., do hereby certify that: 1. I am currently employed as Principal Engineer by NewFields Mining Design & Technical Services, LLC, 9400 Station Street., Suite 300, Lone Tree, Colorado 80124. 2. I graduated with a Bachelor of Science degree in Civil Engineering from the Colorado State University, Fort Collins, Colorado in 1993. 3. I am a Registered Professional Engineer in Nevada (#13947), Alaska (#11172), Idaho (#10226), Colorado (#36988), Missouri (PE2008000049), and New Mexico (#22110). I am a Registered Member of the Society for Mining, Metallurgy and Exploration (#4204584). 4. I have been employed as an engineer continuously for a total of 22 years. My experience includes heap leach facility, tailings storage facility and mine surface infrastructure design and inspection. 5. I have read the definition of “qualified person” set out in the NI 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and certify that, by reason of my education, affiliation with a professional association, and past relevant work experience, I fulfill the requirements to be a qualified person for the purposes of NI 43-101. 6. I am independent of the issuer applying all the tests in Section 1.5 of NI 43-101. 7. I am responsible for the preparation of section 18.17, and the relevant portions of chapters 1, 25, 26, and 27 of the technical report entitled “Pre-Feasibility Study of the Livengood Gold Project, Livengood, Alaska, USA” (the “Technical Report”), September 8, 2016. 8. I personally visited the property that is the subject to the Technical Report on two occasions most recently on March 1-2, 2012. 9. I have had prior involvement with the property that is the subject of the Technical Report. I was part of the design team and a technical reviewer of the report titled “Livengood Gold Project, Feasibility Study Geotechnical Design Report” dated August 6, 2013. 10. I have read NI 43-101 and the sections of the Technical Report for which I am responsible have been prepared in compliance with NI 43-101. 11. As at the effective date of the Technical Report, to the best of my knowledge, information and belief, the sections of the Technical Report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the portions of the Technical Report for which I am responsible not misleading. Dated: October 24, 2016 [Signed & sealed] Ryan T. Baker, P. E. CERTIFICATE OF QUALIFIED PERSON Michael Levy, P.E., P.G. I, Michael E. Levy, P.E., P.G., do hereby certify that: 1. I am a Professional Engineer, employed as a Principal Geotechnical Engineer with SRK Consulting (U.S.), Inc. with an office at Suite 600, 1125 17th Street, Denver, CO, 80202. 2. I received a bachelor’s degree (B.Sc.) in Geology from the University of Iowa in 1998 and a Master of Science degree (M.Sc.) in Civil-Geotechnical Engineering from the University of Colorado in 2004. 3. I am a registered Professional Engineer in the states of Colorado (#40268), California (#70578) and Arizona (#61372) and a registered Professional Geologist in the state of Wyoming (#3550). 4. I have practiced my profession continuously since March 1999 and have been involved in a variety of geotechnical projects specializing in advanced analyses and design of soil and rock slopes. 5. I have read the definition of “qualified person” set out in the NI 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”) and certify that, by reason of my education, affiliation with a professional association, and past relevant work experience, I fulfill the requirements to be a qualified person for the purposes of NI 43-101. 6. I am independent of the issuer applying all the tests in Section 1.5 of NI 43-101. 7. I am responsible for the preparation of section 16.2 and the relevant portions of chapter 1, 25, 26 and 27 of the technical report entitled “Pre-Feasibility Study of the Livengood Gold Project, Livengood, Alaska, USA” (the “Technical Report”), dated September 8, 2016. 8. I personally visited the property that is the subject to the Technical Report on June 20-22, 2012. 9. I have had prior involvement with the property that is the subject of the Technical Report. I was responsible for preparation of section 16.3 of report titled “Livengood Gold Project, Feasibility Study” dated September 4, 2013. 10. I have read NI 43-101 and the sections of the Technical Report for which I am responsible have been prepared in compliance with NI 43-101. 11. As at the effective date of the Technical Report, to the best of my knowledge, information and belief, the sections of the Technical Report for which I am responsible contain all scientific and technical information that is required to be disclosed to make the portions of the Technical Report for which I am responsible not misleading. Dated: October 24, 2016 [Signed & sealed] Michael E. Levy, P.E., P.G. CERTIFICATE OF QUALIFIED PERSON Timothy J. Carew, P. Geo. I, Timothy J. Carew, P. Geo. do hereby certify that: 1. I am a Principal Consultant (Geology) with the firm SRK Consulting (Canada) Inc. with an office at 5250 Neil Road, Suite 300, Reno, NV 89502. 2. I graduated from the following institutions: University of Rhodesia, B.Sc.