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 −

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 Media

Bill Trenaman +1.604.331.9834 North America: Bob Williamson +1.604.512.4856

South Africa: Jeremy Michaels +27.82.939.4812