May 23, 2017

Ivanhoe Mines receives fifth and final US$41.2 million
installment payment from Zijin Mining Group
as part of Zijin's US$412 million investment
in the Kamoa-Kakula Copper Project in D.R. Congo

VANCOUVER, CANADA − Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) announced today that it has received the fifth and final installment of US$41.2 million owing from a subsidiary of Zijin Mining Group Co., Ltd. as part of a strategic co-development agreement under which Zijin acquired 49.5% of Ivanhoe's majority stake in Kamoa Holding Limited.

Kamoa Holding has an indirect 80% interest in the tier one Kamoa-Kakula Copper Project, in the Democratic Republic of Congo, now being jointly developed by Ivanhoe and Zijin.

Zijin − through its subsidiary, Gold Mountains (H.K.) International Mining Company Limited - agreed to pay US$412 million for a 49.5% interest in Kamoa Holding Limited. Zijin paid an initial US$206 million at closing in December 2015, followed by the payment of the first four scheduled US$41.2 million installments in March, July and October of last year and February of this year.

Following the signing of a partnership agreement with the DRC government in November 2016, Ivanhoe and Zijin Mining now each hold an indirect 39.6% interest in the Kamoa-Kakula Project, Crystal River Global Limited holds an indirect 0.8% interest and the DRC government holds a direct 20% interest.

After the receipt of the fifth installment from Zijin, Ivanhoe's consolidated working capital is approximately US$325 million (C$440 million).

About Ivanhoe Mines

Ivanhoe Mines is advancing its three principal projects in Sub-Saharan Africa: 1) Mine development at the Platreef platinum-palladium-gold-nickel-copper discovery on the Northern Limb of South Africa's Bushveld Complex; 2) mine development and exploration at the Kamoa-Kakula Copper Project on the Central African Copperbelt in the DRC; and 3) upgrading at the historic, high-grade Kipushi zinc-copper-lead-germanium mine, also on the DRC's Copperbelt. For details, visit www.ivanhoemines.com .

Information contacts

Investors
Bill Trenaman +1.604.331.9834

Media
North America: Bob Williamson +1.604.512.4856
South Africa: Jeremy Michaels +27.82.939.4812

Ivanhoe Mines Ltd. published this content on 23 May 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 May 2017 14:10:28 UTC.

Original documenthttps://www.ivanhoemines.com/news/2017/ivanhoe-mines-receives-fifth-and-final-us-41.2-million-installment-payment-from-zijin-mining-group-as-part-of-zijins-us-412/

Public permalinkhttp://www.publicnow.com/view/81A12C7F616A1D4A82012D58C7A17CC84B4A3273