Drilling intersects the highest-grade intersection ever drilled at the Kamoa-Kakula Project, with an estimated grade of 18.0% copper over 18.86 metres, at a 2% cut off Ivanhoe to host the next investor site visit to its three African

August 18, 2019

Drilling intersects the highest-grade intersection ever drilled

at the Kamoa-Kakula Project, with an estimated grade

of 18.0% copper over 18.86 metres, at a 2% cut off

Ivanhoe to host the next investor site visit to its three African

projects in October 2019

KOLWEZI, DEMOCRATIC REPUBLIC OF CONGO – Robert Friedland and Yufeng “Miles”

Sun, Co-Chairmen of Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF), announced today

that drilling in the central part of the Kamoa North Bonanza Zone has returned another

visually spectacular intersection of thick, ultra-high-grade copper mineralization.

While assays for the hole (DD1571) are pending, Niton (X-ray fluorescence or XRF)

analysis on core from the hole returned copper grades of 18.0% over 18.86 metres, at a

2% copper cut-off grade, beginning at a down-hole depth of 209 metres. These Niton

readings make this the highest-grade intersection ever drilled on the Kamoa-Kakula

Project.

The reader is cautioned that Niton XRF readings are not the same as laboratory assays

and are not an estimate of resource grades prepared in accordance with NI 43-101.

However, based on more than 1,570 holes drilled to date at the Kamoa-Kakula Project

and the high degree of correlation between Niton XRF readings and assay results, the

company is confident that these data readings are highly useful in confirming and

shaping the next stage of the delineation drilling program.

The new hole, DD1571, intersected the Bonanza Zone up dip and approximately 18

metres north of the discovery drill hole DD1450 (13.05% copper over 22.3 metres (true

thickness)), also at a 2% copper cut-off grade, that was drilled earlier this year (see

Figure 1).

The Kamoa North Bonanza Zone represents a new style of copper mineralization at the

Kamoa-Kakula Project in the Democratic Republic of Congo (DRC), where massive to

semi-massive chalcopyrite, bornite and chalcocite have locally replaced pyrite in the

Kamoa Pyritic Siltstone (KPS) – a pyritic siltstone that lies immediately above the basal

diamictite unit that typically hosts the copper mineralization at Kamoa-Kakula.

Drilling has extended the strike length of the Kamoa North Bonanza Zone to at least 550

metres, with a width of up to 60 metres across strike. Six drill rigs are defining or

extending the limits of the Kamoa North Bonanza Zone, which has an implied strike

length of 2.72 kilometres.

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“While we continue to work toward an initial resource estimate for the Kamoa North

Bonanza Zone, we look forward to leveraging our team’s proprietary exploration

knowledge to search for the next bonanza-grade copper discovery on the Kamoa-

Kakula mining licence and on the adjoining Western Foreland exploration licences,

which are 100%-owned by Ivanhoe Mines,” said David Edwards, Geology Manager,

Kamoa-Kakula Copper Project.

The Kamoa-Kakula Copper Project is approximately 25 kilometres west of the mining

centre of Kolwezi in the DRC. It is a joint venture between Ivanhoe Mines (39.6%), Zijin

Mining Group (39.6%), Crystal River Global Limited (0.8%) and the DRC government

(20%). Ivanhoe Mines and Zijin Mining are co-funding development of the Kamoa-Kakula

Copper Project.

Figure 1: Location of hole DD1571 in the Kamoa North Bonanza Central Zone.

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Figure 2: David Edwards, Geology Manager (far left), and members of the Kamoa-

Kakula geology team highlight an intersection of 37.7% copper in drill core from

hole DD1571.

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Figure 3: Core from hole DD1571 at a depth of 211.8 metres, showing almost all

cuprite (cuprite, Cu2O, is 88.82% copper by weight). Based on Niton readings,

the average grade for the sample below is 37.7% copper.

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Figure 4: Core from hole DD1571 at a depth of 216 metres, showing massive

bornite with traces of chalcopyrite.

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Figure 5: Core from hole DD1571 at a depth of 214 metres, showing disseminated

chalcocite with a wide vein of native copper cutting through it in the breccia

zone.

Figure 6: A north-south section view through the Kamoa North Bonanza Zone, showing copper grades

in holes DD1450 and DD1571.

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Figure 7: Copper grade profile of holes DD1450 and DD1571, showing dominant copper sulphide, copper

assay values and composite grades at 1%, 2% and 5% copper cut-offs.