News Release

Ivanhoe Mines files a new NI 43-101 technical report for the Kamoa-Kakula Copper Complex in the Democratic Republic of Congo

Publish date: 16 March 2023
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JOHANNESBURG, SOUTH AFRICA – Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) announced today that the company has filed a new National Instrument 43-101 (NI 43-101) technical report covering the Kamoa-Kakula 2023 Integrated Development Plan (2023 IDP) for the world-leading Kamoa-Kakula Copper Complex in the Democratic Republic of Congo (DRC).

The 2023 IDP consists of a Pre-Feasibility Study (Kamoa-Kakula 2023 PFS) for the Phase 3 and Phase 4 expansions of the Kamoa-Kakula Copper Complex over a 33-year mine life, as well as an updated Preliminary Economic Assessment (Kamoa-Kakula 2023 PEA) that includes a life-of-mine extension case to 42 years overall. The Kamoa-Kakula 2023 PFS evaluates a staged increase in production capacity at Kamoa-Kakula from the current nominal throughput rate of 7.6 million tonnes per annum (Mtpa) up to a total of 19.2 Mtpa by 2030.

The Kamoa-Kakula 2023 IDP Technical Report was independently prepared by OreWin Pty Ltd. of Adelaide, Australia; China Nerin Engineering Co. Ltd. of Jiangxi, China; DRA Global of Johannesburg, South Africa; Epoch Resources of Johannesburg, South Africa; Golder Associates Africa of Midrand, South Africa; Outotec Oyj of Helsinki, Finland; Paterson and Cooke of Cape Town, South Africa; SRK Consulting Ltd. of Cape Town, South Africa; and, The MSA Group of Johannesburg, South Africa.

The independent Qualified Persons responsible for preparing the Kamoa-Kakula 2023 PFS, and Kamoa-Kakula 2023 PEA, on which the technical report was based, are Bernard Peters (OreWin); Jeremy Witley (MSA Group); Curtis Smith (OreWin); William Joughin (SRK); Marius Phillips (DRA Global); Alwyn Scholtz (DRA Global), and Andreas Savvas (Epoch).

The Kamoa-Kakula Copper Complex is operated as the Kamoa Holding joint venture between Ivanhoe Mines and Zijin Mining, and is approximately 25 kilometres southwest of the town of Kolwezi and about 270 kilometres west of Lubumbashi in the DRC. Ivanhoe and Zijin Mining each hold an indirect 39.6% interest in Kamoa-Kakula, Crystal River holds an indirect 0.8% interest, and the DRC government holds a direct 20% interest.

The technical report titled “Kamoa-Kakula Integrated Development Plan 2023” has been filed on the SEDAR website at www.sedar.com and on the Ivanhoe Mines website at www.ivanhoemines.com.

Information contacts

Vancouver: Matthew Keevil +1.604.558.1034

London: Tommy Horton +44 7866 913 207

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