Ivanhoe Electric Reports 65% Tonnage Increase and 82% Contained Copper Jump at Santa Cruz Deposit

Ivanhoe Electric Inc.

Updated Mineral Resource Estimate at Santa Cruz Copper Project shows 65% tonnage increase and 82% increase in contained copper in Indicated resources (Exotic, Oxide, Enriched domains).
Total contained copper across all deposits increases by 11% to 2.8 million tonnes Indicated, with higher cut-off grades.
Initial Mineral Resource declarations at East Ridge and Texaco Deposits: Indicated resources of 3.6 Mt at 1.33% Cu at Texaco and 24 Mt at 1.36% Cu at East Ridge.
Metallurgical testwork confirms up to 94% total copper recovery achievable with a leach-float circuit at Santa Cruz Deposit.
Initial assessment (IA/PEA) expected by end of Q3 2023, based on the updated resource.

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