Ivanhoe Mines comments on share price CITIC Metal C$723 million private placement on track to close in September
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August 21, 2018
Ivanhoe Mines comments on share price
CITIC Metal C$723 million private placement on track
to close in September
VANCOUVER, CANADA – Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) announced today that
the company is not aware of any company-specific reason that might be contributing to the
recent decline in the company’s share price.
The CITIC Metal Co., Ltd. C$723 million (approximately US$553 million) private placement
remains on track to close in September. The placement is subject only to customary closing
conditions, and recordals and registration with certain Chinese government regulatory
agencies. In addition, Ivanhoe’s joint-venture partner at the Kamoa-Kakula Project, Zijin Mining
Group Co., Ltd., has exercised its existing anti-dilution rights, which will result in additional
proceeds of C$78 million (approximately US$60 million) that Ivanhoe will receive concurrently
with the completion of CITIC Metal’s investment. Ivanhoe Mines has approximately US$165
million of current working capital.
Ivanhoe continues to advance its exploration and development activities on accelerated
timetables. Ivanhoe’s exploration team is focused on drilling high-priority targets on its
100%-owned exploration land position in the Western Foreland and Kamoa North target areas.
Ivanhoe expects to provide an update on its exploration programs in September.
About Ivanhoe Mines
Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) is a Canadian mining company focused on
advancing its three principal projects in Southern Africa: the development of new mines at the
Kamoa-Kakula copper discovery in the Democratic Republic of Congo (DRC) and the Platreef
platinum-palladium-nickel-copper-gold discovery in South Africa; and the extensive
redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver mine, also
in the DRC.
Information contacts
Investors
Bill Trenaman +1.604.331.9834
Media
North America: Bob Williamson +1.604.512.4856
South Africa: Jeremy Michaels +27.82.772.1122
Website www.ivanhoemines.com
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Cautionary statement on forward-looking information
Certain statements in this news release constitute “forward-looking statements” or “forward-
looking information” within the meaning of applicable 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 the company, 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.
Such statements include without limitation: (i) statements regarding the CITIC Metal C$723
million equity transaction remains on track to close in September; and (ii) statements regarding
Ivanhoe’s expectation to provide an important update on its Western Foreland and Kamoa
North exploration programs next month.
Forward-looking statements and information involve significant risks and uncertainties, should
not be read as guarantees of future performance or results and will not necessarily be accurate
indicators of whether or not such results will be achieved. A number of factors could cause
actual results to differ materially from the results discussed in the forward-looking statements
or information, including, but not limited to, the factors discussed under “Risk Factors” and
elsewhere in the company’s MD&A, as well as the inability to obtain regulatory approvals in a
timely manner; the potential for unknown or unexpected events to cause contractual conditions
to not be satisfied; unexpected changes in laws, rules or regulations, or their enforcement by
applicable authorities; the failure of parties to contracts with the company to perform as
agreed; social or labour unrest; changes in commodity prices; and the failure of exploration
programs or studies to deliver anticipated results or results that would justify and support
continued exploration, studies, development or operations.
Although the forward-looking statements contained in this news release are based upon what
management of the company believes are reasonable assumptions, the company cannot
assure investors that actual results will be consistent with these forward-looking statements.
These forward-looking statements are made as of the date of this news release and are
expressly qualified in their entirety by this cautionary statement. Subject to applicable
securities laws, the company 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.
The company’s actual results could differ materially from those anticipated in these forward-
looking statements as a result of the factors set forth in the “Risk Factors” section and
elsewhere in the company’s MD&A for the year ended December 31, 2017 and its Annual
Information Form.