Mr. Matthew Keevil reports

IVANHOE MINES FILES NI 43-101 TECHNICAL REPORT FOR THE TIER-ONE PLATREEF PLATINUM, PALLADIUM, RHODIUM, NICKEL, GOLD AND COPPER MINE IN SOUTH AFRICA

Following the announcement made on Feb. 18, 2025, Ivanhoe Mines Ltd. has filed the National Instrument 43-101 technical report covering the Platreef integrated development plan 2025.

The Platreef integrated development plan 2025 includes two independent technical studies covering the three-phase expansion of the Tier 1 Platreef platinum, palladium, rhodium, nickel, gold and copper mine in South Africa.

The two completed independent studies consist of an updated feasibility study on the phase 2 expansion to 4.1 million tonnes per annum of processing capacity (4.1-million-tonne-per-annum feasibility study), and a preliminary economic assessment covering a new phase 3 expansion to 10.7 million tonnes per annum of processing capacity (10.7-million-tonne-per-annum preliminary economic assessment).

The Platreef 2025 IDP technical report was prepared by OreWin Pty. Ltd. of Adelaide, Australia; The MSA Group Pty. Ltd. of Johannesburg, South Africa; SRK Consulting (South Africa) Pty. Ltd. of Cape Town, South Africa; DRA Projects Pty. Ltd. of Johannesburg, South Africa; and WSP Global Inc. of Montreal, Canada.

The independent qualified persons responsible for preparing the 4.1-million-tonne-per-annum FS and 10.7-million-tonne-per-annum PEA, on which the Platreef 2025 IDP technical report was based, are: Bernard Peters (OreWin), Jeremy Witley (The MSA Group), William Joughin (SRK Consulting), Curtis Smith (OreWin), Riaan Thysse (WSP Global), and Ryan Males and Louise Lintvelt (DRA Projects).

Ivanhoe Mines holds a 64-per-cent interest in the Platreef mine through its subsidiary, Ivanplats, and is directing all mine development work. The South African beneficiaries of a broad-based, black economic empowerment structure have a combined 26-per-cent stake, with the remaining 10 per cent owned by a consortium of Japanese shareholders, including Itochu Corp., Japan Organization for Metals and Energy Security; and JGC Holdings Corp.

About Ivanhoe Mines Ltd.

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in southern Africa: the expansion of the Kamoa-Kakula copper complex in the Democratic Republic of the Congo (DRC), the ramp-up of the ultrahigh-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the phased development of the Tier 1 Platreef palladium-nickel-platinum-rhodium-copper-gold project in South Africa.

Ivanhoe Mines also is exploring its highly prospective, 60-per-cent-to-100-per-cent-owned exploration licences in the Western Forelands, covering an area over five times larger than the adjacent Kamoa-Kakula copper complex. Ivanhoe is exploring for new sedimentary copper discoveries as well as expanding and further defining its high-grade Makoko, Kiala and Kitoko copper discoveries as the company's next major development projects.