Update on Drilling Programs Underway At U.S. Electric Metals Exploration Projects

PHOENIX, AZ - Ivanhoe Electric reported on exploration activities at the U.S. electric metals exploration projects. Two drill rigs are exploring the Tintic Copper-Gold-Silver Project, located 60 miles south of Salt Lake City, Utah. There are two drill rigs are exploring the Hog Heaven Copper-Gold-Silver Project, located 50 miles southwest of Kalispell, Montana. One drill rig is exploring the Lincoln Copper-Gold-Silver Project, located in southern Utah. At the Santa Cruz Copper Project three drill rigs are actively supporting technical work, located west of Casa Grande, Arizona.

In addition to exploration drilling, Ivanhoe Electric recently completed a three-dimensional induced polarization geophysical survey, using our proprietary Typhoon™ technology, over 25 square kilometers at the White Hill Copper Project in western Nevada.