News Releases

IVANHOE MINES TO RETAIN AUSTRALIAN STOCK EXCHANGE LISTING

June 28, 2002

SYDNEY — Ivanhoe Mines is pleased to announce that the Australian Stock Exchange (ASX) has approved changing the admission category for Ivanhoe Mines from ASX Foreign Exempt Listing to ASX Listing on or before June 30, 2002.

“The decision to apply for a full ASX Listing was a direct result of encouragement from our Australian shareholders and investors,” said Robert Friedland, Ivanhoe Mines Chairman. “We look forward to working even more closely with the Australian investment community to ensure that we capitalize on the opportunities afforded by our ASX Listing.”

Ivanhoe’s primary listing, under the symbol IVN, always has been with the Toronto Stock Exchange (TSX). Ivanhoe was added to the S&P/TSX Composite Index earlier this month. The TSX, Canada’s premier exchange, also is one of the world’s leading exchanges for international resource companies. 

Ivanhoe has held a Foreign Exempt Listing on the ASX since 1996. The change to an ASX Listing means that Ivanhoe will not be removed from the ASX’s official list on July 1, 2002, as was previously announced. The Australian share register and the Australian CDI register will continue to be maintained by Advanced Share Registry Services in Perth, Western Australia.

Ivanhoe Mines is an international mining company developing an important new discovery of porphyry gold and copper at the Turquoise Hill (Oyu Tolgoi) Project in southern Mongolia. Ivanhoe is drilling at the Kharmagtai porphyry gold and copper prospect, 120 kilometres north of Turquoise Hill, and will soon begin drill testing a sediment-hosted gold prospect on the Turquoise Ridges (Ovoot Hyar) prospect, approximately 15 kilometres west of the current drilling at Kharmagtai. Ivanhoe also is developing a high-grade gold project at Modi Taung in Myanmar. The company produces LME Grade A copper from its Monywa joint venture in Myanmar, iron ore products from ABM Mining’s Savage River mine in Australia, and gold and silver from the Eunsan mine in South Korea.

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