INTERNATIONAL TOWER HILL MINES LTD (Form: 4, Received: 01/29/2026 16:35:31)

FORM 4 ☐ Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). ☐ Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person ^* ELECTRUM GLOBAL HOLDINGS L.P.	2. Issuer Name and Ticker or Trading Symbol INTERNATIONAL TOWER HILL MINES LTD [ THM ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director __X__ 10% Owner _____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle) 600 FIFTH AVENUE, 24TH FLOOR	3. Date of Earliest Transaction (MM/DD/YYYY) 1/27/2026
(Street) NEW YORK, NY 10020	4. If Amendment, Date Original Filed (MM/DD/YYYY)	6. Individual or Joint/Group Filing (Check Applicable Line) ___ Form filed by One Reporting Person _ X _ Form filed by More than One Reporting Person
(City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	3. Trans. Code (Instr. 8)		4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Shares	1/27/2026		P		3,153,153	A	$2.22	3,153,153	D ⁽¹⁾
Common Shares								28,765,672	I ⁽²⁾	By Electrum Strategic Opportunities Fund II L.P.

*Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)*
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	4. Trans. Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:
(1)	These securities are owned directly by Electrum Global Holdings L.P. ("Global Holdco"). TEG Global GP Ltd. ("TEG Global") is the general partner of Global Holdco. The Electrum Group LLC ("TEG Services") acts as an investment advisor to Global Holdco. As a result, TEG Global and TEG Services may be deemed to beneficially own the Issuer's common shares held by Global Holdco. For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each reporting person disclaims beneficial ownership of these securities, except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that such reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
(2)	These securities are owned directly by Electrum Strategic Opportunities Fund II L.P. ("ESOF II"). The general partner of ESOF II is Electrum Strategic Opportunities Fund II GP L.P. ("ESOF II GP L.P."), and the general partner of ESOF II GP L.P. is ESOF II GP Ltd. ("ESOF II GP"). TEG Services acts as an investment advisor to ESOF II. ESOF II GP is wholly owned by Global Holdco. TEG Global is the general partner of Global Holdco. As a result, ESOF II GP L.P., ESOF II GP, TEG Services, Global Holdco and TEG Global may be deemed to beneficially own the Issuer's common shares held by ESOF II. For purposes of Section 16 of the Securities Exchange Act of 1934, as amended, each reporting person disclaims beneficial ownership of these securities, except to the extent of its pecuniary interest therein, if any, and this report shall not be deemed an admission that such reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

Reporting Owners
Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
ELECTRUM GLOBAL HOLDINGS L.P. 600 FIFTH AVENUE, 24TH FLOOR NEW YORK, NY 10020		X
TEG Global GP Ltd. 600 FIFTH AVENUE, 24TH FLOOR NEW YORK, NY 10020		X
Electrum Strategic Opportunities Fund II L.P. 600 FIFTH AVENUE, 24TH FLOOR NEW YORK, NY 10020		X
Electrum Strategic Opportunities Fund II GP L.P. 600 FIFTH AVENUE, 24TH FLOOR NEW YORK, NY 10020		X
ESOF II GP Ltd. 600 FIFTH AVENUE, 24TH FLOOR NEW YORK, NY 10020		X
Electrum Group LLC 600 FIFTH AVENUE, 24TH FLOOR NEW YORK, NY 10020		X

Signatures
Electrum Global Holdings L.P., By: TEG Global GP Ltd., its general partner, By: /s/ Andrew M. Shapiro, Name/Title: Andrew M. Shapiro, Director		1/29/2026
^**Signature of Reporting Person		Date
TEG Global GP Ltd., By: /s/ Andrew M. Shapiro, Name/Title: Andrew M. Shapiro, Director		1/29/2026
^**Signature of Reporting Person		Date
Electrum Strategic Opportunities Fund II L.P., By: Electrum Strategic Opportunities Fund II GP L.P., its general partner, By: ESOF II GP Ltd., its general partner, By: /s/ Michael H. Williams, Director, Name/Title: Michael H. Williams, Director		1/29/2026
^**Signature of Reporting Person		Date
Electrum Strategic Opportunities Fund II GP L.P., By: ESOF II GP Ltd., its general partner, By: /s/ Michael H. Williams, Name/Title: Michael H. Williams, Director		1/29/2026
^**Signature of Reporting Person		Date
ESOF II GP Ltd., By: /s/ Michael H. Williams, Name/Title: Michael H. Williams, Director		1/29/2026
^**Signature of Reporting Person		Date
The Electrum Group LLC, By: /s/ Michael H. Williams, Name/Title: Michael H. Williams, Senior Managing Director		1/29/2026
^**Signature of Reporting Person		Date

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