Robert Friedland, Executive Chairman of Ivanhoe Mines and Lars-Eric Johansson, Chief Executive Officer, announced that CITIC Metal Co. Ltd., has completed its confirmatory due diligence and has received CITIC internal approvals necessary to complete the long-term, strategic cooperation and investment agreement with Ivanhoe Mines. Under the terms of the agreement, CITIC Metal has the right to nominate two directors to Ivanhoe’s expanded 11-member board. Ivanhoe Mines has accepted CITIC Metal’s nomination of Yufeng “Miles” Sun, President of CITIC Metal Group Limited, who will join the board at closing. Mr. Sun will become Co-Chairman of Ivanhoe Mines at that time – a position he will share with Mr. Friedland. The second CITIC Metal nominee, who also will join the board at that time, will be announced prior to closing.