Ivanhoe Mines Files New NI 43-101 Technical Report for the Platreef Palladium, Rhodium, Nickel, Platinum, Copper and Gold Project in South Africa

Mokopane, South Africa--(Newsfile Corp. - March 11, 2022) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) announced today that the company has filed a new National Instrument 43-101 (NI 43-101) technical report covering the Platreef 2022 Feasibility Study.

The updated NI 43-101 technical report includes an independent feasibility study for the initial two phases of development for the Platreef Mine to a steady state production rate of 5.2 million tonnes of ore per annum.

The Platreef 2022 Feasibility Study Technical Report was independently prepared by OreWin Pty Ltd. of Adelaide, Australia; Mine Technical Services of Reno, USA; SRK Consulting Inc. of Johannesburg, South Africa; DRA Global of Johannesburg, South Africa; and Golder Associates Africa of Midrand, South Africa.

Ivanhoe Mines indirectly owns 64% of the Platreef Project through its subsidiary, Ivanplats, and is directing all mine development work. The South African beneficiaries of the approved broad-based, black economic empowerment structure have a 26% stake in the Platreef Project. The remaining 10% is owned by a Japanese consortium of ITOCHU Corporation; Japan Oil, Gas and Metals National Corporation; ITC Platinum Development Ltd., an ITOCHU affiliate; and Japan Gas Corporation.

The technical report titled "Platreef 2022 Feasibility Study" has been filed on the SEDAR website at www.sedar.com^[1] and on the Ivanhoe Mines website at www.ivanhoemines.com^[2].

Information contacts

Investors: Bill Trenaman +1.604.331.9834 / Media: Matthew Keevil +1.604. 558.1034

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/116479^[3]