Zijin Mining : (H Share)Announcement in relation to Progress at the Kamoa-Kakula Copper Project in the DR Congo

• First blast marks start of development of twin declines at the ultra-high-grade resources of the Kakula Copper Discovery and signifies the beginning of the development of the copper mine
• New Kamoa-Kakula preliminary economic assessment of two mines, with projected, combined production of 12 million tonnes per year nearing completion
• New Kakula resource estimate based on the entire current strike length expected early in January 2018; discovery remains open for significant expansion

The Kamoa-Kakula Copper Project in the Democratic Republic of the Congo (the "DR Congo" or "DRC"), which is a joint investment between Zijin Mining Group Co., Ltd.* (the "Company"), Ivanhoe Mines Ltd. of Canada ("Ivanhoe Mines") and the government of the DRC, recently announced the progress of the project. Details are as follows:

The Kakula box cut was successfully completed on October 26, 2017, and the first blast for the twin declines at Kakula took place in November 2017. The Kakula decline development work is being undertaken by JMMC, a DRC subsidiary of JCHX Mining Management Co., Ltd. of Beijing, China. Depending on ground conditions, the 3,600-metre decline development contract is scheduled for completion in approximately one year. The work bears great significance on realizing production of the high-grade copper mine.

In response to the spectacular exploration success at the Kakula Discovery, the Company and Ivanhoe Mines are fast-tracking the mine development program at Kakula. The Kakula Copper Deposit is a

gently-dipping blanket of thick, chalcocite-rich copper mineralization. Initial mine development is planned to begin in the flat, near-surface zone which, at a 3% cut-off, is between 7.1 metres and 11.7 metres thick and with copper grades between 8.11% and 10.35% along the deposit's axis.

Fourteen rigs are continuing to drill at Kamoa-Kakula, including 10 rigs focused on expanding and upgrading the resources in the Kakula high-grade zone along trend to the west and south east. A fresh resource estimate for Kakula is being prepared and is expected to result in a major upgrade and expansion of the Kakula Mineral Resources.

The new Kamoa-Kakula Project PEA is progressing well and is expected to be completed this quarter. The new PEA is based on an initial mine capacity of six million tonnes per annum (Mtpa) at Kakula, using the May 2017 Mineral Resource estimate, with an additional six-Mtpa mine at Kansoko, serving a centralized concentrator at Kakula, for a projected mine production of approximately 12 Mtpa from the presently delineated Kamoa and Kakula deposits.

In addition to the new PEA study, a feasibility study under Chinese standard on a mine capacity of six-Mtpa at Kakula will be completed by the end of the year. In light of the successful step-out drilling at Kakula West, the Kamoa-Kakula development plans will be reassessed and amended as the project moves forward. Carrying out the first phase of development at the high-grade Kakula deposit is the more probable base case.

Potential phased mine developments of up to 18 Mtpa also are being assessed for the Kamoa-Kakula copper complex.

Results from drill holes completed to the end of October 2017 will form the basis of the planned updated mineral resource estimate encompassing the entire strike length of the Kakula Discovery, which now extends to at least 12 kilometres. This would represent an increase of approximately 60% in the strike length that will be used to calculate the new resource estimate, as compared to the 7.7-kilometre strike length covered by Kakula's May 2017 resource estimate. The updated resource estimate is expected to be issued in January 2018.

Fujian, the PRC, 22 November 2017

*The Company's English name is for identification purpose only