Ivanhoe Mines Ltd. T.IVN

New DFS this month

[Tothemoon2]

• In parallel with the construction of Kamoa-Kakula’s phase 1 Kakula Mine, work is progressing on the independent Kakula Definitive Feasibility Study (DFS) and an updated Integrated Development Plan for the entire Kamoa-Kakula mining complex. The Kakula DFS will provide an increased level of accuracy for the design, production schedule and expenditures for the initial phase of mine development at Kakula. The Integrated Development Plan will include details on the planned expansion phases for the greater Kamoa-Kakula mining complex, incorporating updates for mineral resources, production rates and economic analysis.

• Following the completion of basic engineering and procurement, as part of the forthcoming Kakula DFS, Kakula’s initial processing plant capacity has increased from 3.0 Mtpa to 3.8 Mtpa. The expansion in initial plant capacity requires increasing the underground mining crews in 2020 from 11 to 14 to ensure sufficient mining operations to feed the expanded plant and create pre-production stockpiles of approximately 1.5 million tonnes of high-grade ore and an additional 700,000 tonnes of material grading approximately 1% to 3% copper. This should allow the plant to ramp up quickly and maintain a steady state throughput of 3.8 Mtpa.