Ivanhoe Mines to provide a detailed update on Kamoa-Kakula operations by Tuesday, May 27, 2025

Kolwezi, Democratic Republic of the Congo–(Newsfile Corp. – May 23, 2025) – Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) today provides clarification to inaccuracies made in a press release by Zijin Mining released earlier today. The press release was made in relation to the temporary suspension of operations at the Kakula underground mine, as announced by Ivanhoe Mines on Tuesday, May 20, 2025, at the Kamoa-Kakula Copper Complex in the Democratic Republic of the Congo.

The press release by Zijin Mining refers to “…multiple roof-falling and rib-spalling in the eastern section of the [Kakula] mine.” Ivanhoe Mines does not agree with this statement.

Ivanhoe Mines and Kamoa Copper senior management, supported by geotechnical specialists, continue to conduct a thorough inspection of the Kakula underground mine, which commenced on May 20, 2025. The inspection is ongoing and has been advancing further into the eastern section of the mine. Results so far show that there is no evidence of collapsing stopes or structural pillars.

Preliminary indications suggest that seismic activity, which was experienced during the last week and has subsequently subsided, resulted in a redistribution of forces underground and caused “scaling”, or rock falls, from the sidewalls of certain mining areas.

The operational teams are currently focused on safely repairing damage caused to the cables and pipework that support the underground pumping infrastructure. Once this activity is complete, focus will shift to returning to normal mining operations starting with the western side of the Kakula Mine.

Once the underground investigation is completed, Ivanhoe Mines will determine whether the temporary suspension of underground operations will impact annual production guidance of the Kamoa-Kakula Mining Complex.

Ivanhoe Mines will provide a more detailed update by Tuesday May 27, 2025.