Underground Mining Suspended in East Zone of Kakula Mine

According to Ivanhoe Mines: Kolwezi, Democratic Republic of the Congo — Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF) announced that underground mining operations at the Kakula underground mine, part of the Kamoa-Kakula copper mine project in the Democratic Republic of the Congo (hereinafter referred to as "DRC"), have been suspended.

Due to multiple seismic events occurring in the eastern section of the Kakula mine last week, the senior management of Kamoa Copper decided to suspend underground operations on Sunday, May 18, 2025. In accordance with safety protocols, all personnel have been safely evacuated to the surface, and mobile equipment has been removed from the underground workings, with no casualties reported.

The company's executives and geotechnical experts have arrived at the site and will commence a comprehensive investigation of the Kakula underground mine starting today. Seismic activity has been observed to have significantly decreased over the past 24 hours; it is safe to resume mining operations immediately in the western section of the Kakula mine.

The investigation into the eastern section of the Kakula mine will continue, including potential impacts on underground infrastructure such as the pump station.

The Phase I and Phase II beneficiation plants at Kakula are temporarily operating at reduced capacity, processing ore from surface stockpiles. Once underground operations resume, ore from the western section of the Kakula mine will be processed promptly. As of April 30, 2025, approximately 3.8 million tonnes of high-grade and medium-grade ore, with an average copper grade of approximately 3.2%, were stockpiled on the surface at Kamoa-Kakula.

Mining activities at the Kamoa underground mine and ore processing at the adjacent Phase III beneficiation plant have not been affected.

Ivanhoe Mines will provide updates as appropriate.