INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of reconciliation of income taxes at statutory rates


	December 31,			December 31,
	2024			2023
Loss for the year	$	(3,599,372)		$	(3,397,969)
Statutory Canadian corporate tax rate		27.00	%		27.00	%

Expected income tax (recovery)	$	(972,000)		$	(917,000)
Change in statutory, foreign tax, foreign exchange rates and other		455,000			(171,000)
Permanent difference		88,000			112,000
Share issue cost		(60,000)			—
Adjustment to prior years provision versus statutory tax returns		257,000			236,000
Change in unrecognized deductible temporary differences		232,000			740,000
Total income tax expense (recovery)	$	—		$	—

Schedule of significant components of the deferred tax assets


	December 31,		December 31,
	2024		2023
Deferred tax assets (liabilities):
Mineral property assets	$	16,210,000	$	16,442,000
Property and equipment		7,000		8,000
Share issue costs		45,000		26,000
Non-capital losses available for future period		55,434,000		54,988,000
		71,696,000		71,464,000
Valuation allowance		(71,696,000)		(71,464,000)
Net deferred tax assets	$	—	$	—

Schedule of operating loss carryforwards

At December 31, 2024, the Company has available non-capital losses for Canadian income tax purposes of approximately C$ 29,967,000 and net operating losses for US income tax purposes of approximately $38,708,000 that do not have an expiration date and $137,152,000 available for carry-forward to reduce future years’ taxable income, if not utilized, expiring as follows:


	Canada (C$)		United States ($)
2044	C$	1,308,000	$	—
2043		1,063,000		—
2042		599,000		—
2041		1,204,000		—
2040		1,211,000		—
2039		1,164,000		—
2038		417,000		—
2037		1,757,000		8,800,000
2036		1,611,000		8,798,000
2035		395,000		10,703,000
2034		1,792,000		12,587,000
2033		1,687,000		14,208,000
2032		2,854,000		16,797,000
2031		5,051,000		40,825,000
2030		3,052,000		18,765,000
2029		2,378,000		2,973,000
2028		1,301,000		1,412,000
2027		1,031,000		1,284,000
2026		92,000		—
	C$	29,967,000	$	137,152,000

INTERNATIONAL TOWER HILL MINES LTD 10-K