Ivanhoe Mines Ltd. press release

Ivanhoe Mines Files New NI 43-101 Technical Report for the Platreef Palladium, Rhodium, Nickel, Platinum, Copper and Gold Project in South Africa

2022-03-11

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Mokopane, South Africa--(Newsfile Corp. - March 11, 2022) - 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 Platreef 2022 Feasibility Study.

The updated NI 43-101 technical report includes an independent feasibility study for the initial two phases of development for the Platreef Mine to a steady state production rate of 5.2 million tonnes of ore per annum.

The Platreef 2022 Feasibility Study Technical Report was independently prepared by OreWin Pty Ltd. of Adelaide, Australia; Mine Technical Services of Reno, USA; SRK Consulting Inc. of Johannesburg, South Africa; DRA Global of Johannesburg, South Africa; and Golder Associates Africa of Midrand, South Africa.

Ivanhoe Mines indirectly owns 64% of the Platreef Project through its subsidiary, Ivanplats, and is directing all mine development work. The South African beneficiaries of the approved broad-based, black economic empowerment structure have a 26% stake in the Platreef Project. The remaining 10% is owned by a Japanese consortium of ITOCHU Corporation; Japan Oil, Gas and Metals National Corporation; ITC Platinum Development Ltd., an ITOCHU affiliate; and Japan Gas Corporation.

The technical report titled "Platreef 2022 Feasibility Study" has been filed on the SEDAR website at www.sedar.comand on the Ivanhoe Mines website at www.ivanhoemines.com.

Information contacts

Investors: Bill Trenaman +1.604.331.9834 / Media: Matthew Keevil +1.604. 558.1034

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/116479