Q2 – Six months ended Jun. 30, 2026 - Financials

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# Q2 – Six months ended Jun. 30, 2026 - Financials

Source: https://www.ithmines.com/_resources/financials/quarterly-reports/2026/ITH-SEDAR-Financial-Statements-Jun-30-2026.pdf?v=091207
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# Q2 – Six months ended Jun. 30, 2026 - Financials
CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
(Unaudited – Prepared by Management)
(Expressed in US Dollars)
Three and Six Months Ended June 30, 2026 and 2025
Corporate Head Office
1570-200 Burrard Street
Vancouver, BC
Canada
V6C 3L6
Tel: 604-683-6332
INTERNATIONAL TOWER HILL MINES LTD.
June 30, 2026 and 2025
INDEX Page
Unaudited Condensed Consolidated Interim Financial Statements
Condensed Consolidated Interim Balance Sheets 3
Condensed Consolidated Interim Statements of Operations and Comprehensive Loss 4
Condensed Consolidated Interim Statements of Changes in Shareholders’ Equity 5
Condensed Consolidated Interim Statements of Cash Flows 6
Notes to the Condensed Consolidated Interim Financial Statements 7-14
PART 1
ITEM 1. FINANCIAL STATEMENTS
INTERNATIONAL TOWER HILL MINES LTD.
CONDENSED CONSOLIDATED INTERIM BALANCE SHEETS
As at June 30, 2026 and December 31, 2025
(Expressed in US Dollars - Unaudited)
Note June 30, 2026 December 31, 2025
ASSETS
Current
Cash and cash equivalents 1 $ 60,444,641 $ 1,353,333
Short-term investments 50,000,000 —
Accounts receivable 1,441,019 —
Prepaid expenses and other 680,975 159,801
Total current assets 112,566,635 1,513,134
Property and equipment 7,465 7,465
Mineral property 4 55,375,124 55,375,124
Total assets $ 167,949,224 $ 56,895,723
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable $ 1,690,552 $ 145,918
Accrued liabilities 5 749,999 352,034
Total liabilities 2,440,551 497,952
Shareholders’ equity
Share capital, no par value; unlimited number of authorized shares; 261,637,473
and 207,885,473 shares issued and outstanding at June 30, 2026 and
December 31, 2025, respectively 6 409,336,983 294,980,859
Contributed surplus 6 38,359,082 37,621,329
Accumulated other comprehensive income (loss) (3,275,298) 1,598,066
Deficit (278,912,094) (277,802,483)
Total shareholders’ equity 165,508,673 56,397,771
Total liabilities and shareholders’ equity $ 167,949,224 $ 56,895,723
General Information and Nature of Operations (Note 1)
Commitments (Note 8)
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
3
INTERNATIONAL TOWER HILL MINES LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
For the Three and Six Months Ended June 30, 2026 and 2025
(Expressed in US Dollars - Unaudited)
Three Months Ended Six Months Ended
Note June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025
Operating expenses
Consulting fees 6 $ 676,070 $ 439,354 $ 843,958 $ 549,398
Insurance 42,869 65,136 77,613 112,147
Investor relations 6 56,485 33,839 69,732 43,898
Mineral property exploration 4 5,354,879 801,909 5,608,987 950,396
Office 11,424 5,646 18,675 9,918
Other 3,972 4,182 7,096 7,179
Professional fees 107,496 56,572 237,031 88,814
Regulatory 31,364 32,966 148,610 94,697
Rent 33,792 33,792 67,696 67,582
Travel 28,616 2,305 32,719 10,104
Wages and benefits 6 652,544 287,833 932,023 491,656
Total operating expenses (6,999,511) (1,763,534) (8,044,140) (2,425,789)
Other income (expenses)
Gain / (Loss) on foreign exchange 2,134,885 (190,324) 4,818,058 (208,431)
Interest income 1,480,872 28,772 2,116,471 40,066
Total other income (expenses) 3,615,757 (161,552) 6,934,529 (168,365)
Net loss for the period (3,383,754) (1,925,086) (1,109,611) (2,594,154)
Other comprehensive income (loss)
Exchange difference on translating foreign operations (2,175,908) 198,065 (4,873,364) 216,352
Total other comprehensive income (loss) for the
period (2,175,908) 198,065 (4,873,364) 216,352
Comprehensive loss for the period $ (5,559,662) $ (1,727,021) $ (5,982,975) $ (2,377,802)
Basic and diluted loss per share $ (0.01) $ (0.01) $ (0.00) $ (0.01)
Weighted average number of shares outstanding -
basic and diluted 261,637,473 207,885,473 253,447,705 205,250,201
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
4
INTERNATIONAL TOWER HILL MINES LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY
For the Three and Six Months Ended June 30, 2026 and 2025
(Expressed in US Dollars - Unaudited)
Three Months Ended June 30, 2025
Accumulated
Other
Number of Share Contributed Comprehensive
Shares Capital Surplus Income Deficit Total
Balance, March 31, 2025 207,885,473 $ 294,983,309 $ 36,987,136 $ 1,431,405 $ (273,833,218) $ 59,568,632
Share issuance costs — (2,450) — — — (2,450)
Stock-based compensation-options — — 108,966 — — 108,966
Stock-based compensation-DSUs — — 337,434 — — 337,434
Exchange difference on translating foreign
operations — — — 198,065 — 198,065
Net loss — — — — (1,925,086) (1,925,086)
Balance, June 30, 2025 207,885,473 $ 294,980,859 $ 37,433,536 $ 1,629,470 $ (275,758,304) $ 58,285,561
Six Months Ended June 30, 2025
Accumulated
Other
Number of Share Contributed Comprehensive
Shares Capital Surplus Income Deficit Total
Balance, December 31, 2024 199,693,442 $ 291,169,769 $ 36,923,555 $ 1,413,118 $ (273,164,150) $ 56,342,292
Share issuance 8,192,031 3,932,994 — — — 3,932,994
Share issuance costs — (121,904) — — — (121,904)
Stock-based compensation-options — — 172,547 — — 172,547
Stock-based compensation-DSUs — — 337,434 — — 337,434
Exchange difference on translating foreign
operations — — — 216,352 — 216,352
Net loss — — — — (2,594,154) (2,594,154)
Balance, June 30, 2025 207,885,473 $ 294,980,859 $ 37,433,536 $ 1,629,470 $ (275,758,304) $ 58,285,561
Three-Month Period Ended June 30, 2026
Accumulated
Other
Number of Share Contributed Comprehensive
Shares Capital Surplus Income (Loss) Deficit Total
Balance, March 31, 2026 261,637,473 $ 409,336,983 $ 37,626,458 $ (1,099,390) $ (275,528,340) $ 170,335,711
Stock-based compensation-options — — 176,284 — — 176,284
Stock-based compensation-DSUs — — 556,340 — — 556,340
Exchange difference on translating foreign
operations — — — (2,175,908) — (2,175,908)
Net loss — — — — (3,383,754) (3,383,754)
Balance, June 30, 2026 261,637,473 $ 409,336,983 $ 38,359,082 $ (3,275,298) $ (278,912,094) $ 165,508,673
Six-Month Period Ended June 30, 2026
Accumulated
Other
Number of Share Contributed Comprehensive
Shares Capital Surplus Income (Loss) Deficit Total
Balance, December 31, 2025 207,885,473 $ 294,980,859 $ 37,621,329 $ 1,598,066 $ (277,802,483) $ 56,397,771
Share issuance 53,192,000 118,086,240 — — — 118,086,240
Share issuance costs — (4,126,100) — — — (4,126,100)
Exercise of options 560,000 267,795 — — — 267,795
Reallocation of contributed surplus — 128,189 (128,189) — — —
Stock-based compensation-options — — 199,621 — — 199,621
Stock-based compensation-DSUs — — 666,321 — — 666,321
Exchange difference on translating foreign
operations — — — (4,873,364) — (4,873,364)
Net loss — — — — (1,109,611) (1,109,611)
Balance, June 30, 2026 261,637,473 $ 409,336,983 $ 38,359,082 $ (3,275,298) $ (278,912,094) $ 165,508,673
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
5
INTERNATIONAL TOWER HILL MINES LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
For the Six Months Ended June 30, 2026 and 2025
(Expressed in US Dollars - Unaudited)
Six Months Ended
June 30, 2026 June 30, 2025
Operating Activities
Loss for the period $ (1,109,611) $ (2,594,154)
Add items not affecting cash:
Stock-based compensation-options 199,621 172,547
Stock-based compensation-DSUs 666,321 337,434
Changes in non-cash items:
Accounts receivable (1,376,166) (8,809)
Prepaid expenses and other (590,425) (89,917)
Accounts payable and accrued liabilities 1,950,503 8,816
Cash and cash equivalents provided by (used in) operating activities (259,757) (2,174,083)
Financing Activities
Issuance of shares 118,354,035 3,932,994
Share issuance costs (4,126,099) (118,879)
Cash and cash equivalents provided by financing activities 114,227,936 3,814,115
Investing Activities
Short-term investments (50,000,000) —
Cash and cash equivalents used by investing activities (50,000,000) —
Effect of foreign exchange on cash (4,876,871) 212,546
Change in cash and cash equivalents 59,091,308 1,852,578
Cash and cash equivalents, beginning of the period 1,353,333 992,487
Cash and cash equivalents, end of the period $ 60,444,641 $ 2,845,065
Supplementary Disclosures:
Non-cash financing and investing transactions
Share issuance costs in accounts payable $ — $ 3,205
The accompanying notes are an integral part of these condensed consolidated interim financial statements.
6
INTERNATIONAL TOWER HILL MINES LTD.
NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS
Three and Six Months Ended June 30, 2026 and 2025
(Expressed in US dollars – Unaudited)
1. GENERAL INFORMATION AND NATURE OF OPERATIONS
International Tower Hill Mines Ltd. (“ITH” or the “Company”) is incorporated under the laws of British Columbia,
Canada. The Company’s head office address is 1570 – 200 Burrard Street, Vancouver, British Columbia, Canada.
International Tower Hill Mines Ltd. consists of ITH and its wholly-owned subsidiaries Tower Hill Mines, Inc. (“TH
Alaska”) (an Alaska corporation), Tower Hill Mines (US) LLC (“TH US”) (a Colorado limited liability company), and
Livengood Placers, Inc. (“LPI”) (a Nevada corporation). The Company is in the business of acquiring, exploring and
evaluating mineral properties, and either joint venturing or developing these properties further or disposing of them when
the evaluation is completed. At June 30, 2026, the Company has a 100% interest in its Livengood Gold Project in Alaska,
U.S.A (the “Livengood Gold Project”).
These unaudited condensed consolidated interim financial statements have been prepared on a going-concern basis, which
presumes the realization of assets and discharge of liabilities in the normal course of business for the foreseeable future.
The Company has no revenue generating operations from which it can internally generate funds. To date, the Company’s
ongoing operations have been predominantly financed through the sale of its equity securities by way of public offerings,
private placements and the subsequent exercise of share purchase and broker warrants issued in connection with such
private placements. There are currently no warrants outstanding.
As at June 30, 2026, the Company had cash and cash equivalents of $60,444,641 compared to $1,353,333 at December
31, 2025. As at August 11, 2026, management believes that the Company has sufficient financial resources to maintain its
operations for the next twelve months.
2. BASIS OF PRESENTATION
These unaudited condensed consolidated interim financial statements have been prepared in accordance with accounting
principles generally accepted in the United States (“U.S. GAAP”) for interim financial information and with the
instructions to Form 10-Q and Article 8 of Regulation S-X under the Securities Exchange Act of 1934, as amended.
Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for annual financial
statements. These unaudited condensed consolidated interim financial statements should be read in conjunction with the
audited consolidated financial statements for the year ended December 31, 2025 as filed in our Annual Report on Form
10-K. In the opinion of the Company’s management, these financial statements reflect all adjustments, consisting of normal
recurring adjustments, necessary to present fairly the Company’s financial position at June 30, 2026 and the results of its
operations for the three months then ended. Operating results for the six months ended June 30, 2026 are not necessarily
indicative of the results that may be expected for the year ending December 31, 2026

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