Ivanhoe Electric Clarifies Certain Misleading Media Headlines Regarding Its Recent Registration Statement Filing
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June 13, 2024
Ivanhoe Electric Clarifies Certain Misleading Media Headlines
Regarding Its Recent Registration Statement Filing
PHOENIX, ARIZONA – Ivanhoe Electric Inc. (“Ivanhoe Electric”) (NYSE American: IE;
TSX: IE) clarifies certain misleading media headlines speculating that Saudi Arabia
Mining Company (“Ma’aden”) will sell Ivanhoe Electric shares under the recently filed
Registration Statement.
The Registration Statement was filed pursuant to an obligation in the Investor Rights
Agreements (“IRA”) entered into between Ivanhoe Electric and Ma’aden at the time of
Ma’aden’s initial investment in Ivanhoe Electric. The IRA was previously disclosed and
filed on July 6, 2023. Ma’aden has confirmed, consistent with what was disclosed in the
Registration Statement, that it has no present intention to sell any shares of Ivanhoe
Electric common stock.
About Ivanhoe Electric
We are a U.S. company that combines advanced mineral exploration technologies with
electric metals exploration projects predominantly located in the United States. We use
our accurate and powerful Typhoon™ geophysical surveying system, together with
advanced data analytics provided by our subsidiary, Computational Geosciences Inc.,
to accelerate and de-risk the mineral exploration process as we seek to discover new
deposits of critical metals that may otherwise be undetectable by traditional exploration
technologies. We believe the United States is significantly underexplored and has the
potential to yield major new discoveries of critical metals. Our mineral exploration
efforts focus on copper as well as other metals including nickel, vanadium, cobalt,
platinum group elements, gold and silver. Through the advancement of our portfolio of
electric metals exploration projects, headlined by the Santa Cruz Copper Project in
Arizona and the Tintic Copper-Gold Project in Utah, as well as other exploration
projects in the United States, we intend to support United States supply chain
independence by finding and delivering the critical metals necessary for the
electrification of the economy. We also operate a 50/50 joint venture with Saudi Arabian
Mining Company Ma’aden to explore for minerals on ~48,500 km2 of underexplored
Arabian Shield in the Kingdom of Saudi Arabia. Website: www.ivanhoeelectric.com.
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Contact Information
Ivanhoe Electric:
Email: [email protected]
Follow us on
Ivanhoe Electric’s Executive Chairman Robert Friedland: @robert_ivanhoe
Ivanhoe Electric: @ivanhoeelectric
Ivanhoe Electric’s investor relations website located at www.ivanhoeelectric.com should be
considered Ivanhoe Electric’s recognized distribution channel for purposes of the Securities
and Exchange Commission’s Regulation FD.
Forward-Looking Statements
Certain statements in this news release constitute “forward-looking statements” or “forward-
looking information” within the meaning of applicable US and Canadian securities laws. Such
statements and information involve known and unknown risks, uncertainties and other factors
that may cause the actual results, performance or achievements of Ivanhoe Electric, its
projects, or industry results, to be materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements or information. Such
statements can be identified by the use of words such as “may”, “would”, “could”, “will”,
“intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict”
and other similar terminology, or state that certain actions, events or results “may”, “could”,
“would”, “might” or “will” be taken, occur or be achieved. These statements reflect Ivanhoe
Electric’s current expectations regarding future events, performance and results and speak
only as of the date of this news release.
Forward-looking statements are based on management’s beliefs and assumptions and on
information currently available to management. Such statements are subject to significant risks
and uncertainties, and actual results may differ materially from those expressed or implied in
the forward-looking statements due to various factors, including changes in the prices of
copper or other metals Ivanhoe Electric is exploring for; the results of exploration and drilling
activities and/or the failure of exploration programs or studies to deliver anticipated results or
results that would justify and support continued exploration, studies, development or
operations; the final assessment of exploration results and information that is preliminary; the
significant risk and hazards associated with any future mining operations, extensive regulation
by the US government as well as local governments; changes in laws, rules or regulations, or
their enforcement by applicable authorities; the failure of parties to contracts with Ivanhoe
Electric to perform as agreed; and the impact of political, economic and other uncertainties
associated with operating in foreign countries, and the impact of the COVID-19 pandemic and
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the global economy. These factors should not be construed as exhaustive and should be read
in conjunction with the other cautionary statements and risk factors described in Ivanhoe
Electric’s Annual Report on Form 10-K filed with the U.S. Securities and Exchange
Commission.
No assurance can be given that such future results will be achieved. Forward-looking
statements speak only as of the date of this news release. Ivanhoe Electric cautions you not to
place undue reliance on these forward-looking statements. Subject to applicable securities
laws, Ivanhoe Electric does not assume any obligation to update or revise the forward-looking
statements contained herein to reflect events or circumstances occurring after the date of this
news release, and Ivanhoe Electric expressly disclaims any requirement to do so. No
assurance can be given that such future results will be achieved. Forward-looking statements
speak only as of the date of this news release. Ivanhoe Electric cautions you not to place
undue reliance on these forward-looking statements. Subject to applicable securities laws,
Ivanhoe Electric does not assume any obligation to update or revise the forward-looking
statements contained herein to reflect events or circumstances occurring after the date of this
news release, and Ivanhoe Electric expressly disclaims any requirement to do so.