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Ivanhoe Mines

Wednesday, September 12th, 2007

John Macken, President and CEO of Ivanhoe Mines, and Peter Meredith, Deputy Chairman, announced today that Ivanhoe Mines has arranged access to up to US$350 million in the form of a non-revolving, convertible credit facility to be provided by Rio Tinto, Ivanhoe’s strategic partner in the Oyu Tolgoi copper-gold project in Mongolia’s South Gobi Region.
The credit facility is an interim measure that will help to maintain the momentum of ongoing mine development activities at Oyu Tolgoi while Ivanhoe and Rio Tinto co-operate with Members of the Mongolian Parliament to achieve a satisfactory conclusion of an Investment Agreement between Ivanhoe Mines and the Government of Mongolia as the representative of the national interest.
Mr. Macken said that Ivanhoe welcomed Rio Tinto’s expanded commitment and increasing involvement through its industry-leading technical, financial and environmental expertise in support of the Oyu Tolgoi Project.

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