Ivanhoe Capital Acquisition Corp. Warrants each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per... IVAN

NEWS

[good2004]

Ivanhoe Energy pursues U.S. listing for its China operations Sunwing Energy plans US$125 million merger with U.S. public company BEIJING, CHINA - Ivanhoe Energy Inc. (NASDAQ: IVAN and TSX: IE, IE.U) and China Mineral Acquisition Corporation (OTCBB: CMAQ, CMAQU, CMAQW) have signed a non-binding Memorandum of Understanding (MOU) regarding a proposed merger of Ivanhoe Energy's 100%-owned China operating subsidiary, Sunwing Energy Ltd., with China Mineral Acquisition Corporation (CMA), a U.S. public corporation with US$21 million in cash and no other assets or current operations. If the proposed merger is successfully completed, the resulting public corporation --- which the parties are valuing at approximately US$125 million --- would be approximately 75%-80% owned by Ivanhoe Energy. CMA intends to change its name to China Ivanhoe Energy following the proposed merger. Sunwing Energy is the corporate flagship for Ivanhoe Energy's existing operations in China. CMA, a Delaware corporation, is a "blank check" company, formed to effect a merger or other similar business combination with a company having its primary operations in China. CMA raised approximately US$21 million (net) in an initial public offering in August 2004. CMA has no current operating business or full-time employees. Please click on the link below for a PDF of the full news release: https://www.ivanhoe-energy.com/i/pdf/2006-02-23_NR.pdf