Kamoa-Kakula Management are Advancing Works to Reopen the Western Side of Kakula Mine

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Installation of additional underground pumping complete; water levels set to stabilize

Phase 1 and 2 concentrators continue to be supplied by stockpiles, and will be supported by ore from western side of Kakula Mine

Ivanhoe Mines to provide next week plans for reopening the western side and restart of the eastern side of Kakula Mine

Kolwezi, Democratic Republic of the Congo--(Newsfile Corp. - June 2, 2025) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) announces today that following the temporary suspension of underground operations at the Kakula Mine announced on May 20, 2025, senior management continues to work alongside world-leading engineering experts to safely and conservatively restart mining operations.

Kamoa Copper's engineering teams are currently updating the short-, medium-, and long-term plans to resume operations on both the western and eastern sides of the Kakula Mine. Subject to dewatering progress, underground mining is expected to restart later this month on the western side of the mine, which remains dry and supported by over 1,000 litres per second of operational pumping capacity.

Operations on the eastern side of the Kakula Mine are expected to restart once dewatering is complete. Kamoa Copper has implemented a two-stage plan to dewater the entire Kakula Mine:

Stage One involves the installation of temporary underground pumping infrastructure to stabilize and maintain current water levels. Stage One was completed today, with total underground pumping capacity increasing to approximately 4,400 litres per second, sufficient to manage water inflows.

Stage Two involves the installation of high-capacity, surface-mounted pumps and new permanent infrastructure to fully dewater the entire Kakula Mine. Stage Two is already underway. Kamoa Copper has ordered four high-capacity pumps, each rated at 650 litres per second. Additional pumps will also be ordered as part of the long term pumping infrastructure plan. These pumps will be deployed in pairs and installed in existing ventilation shafts that access the water catchment areas of the Kakula Mine. Delivery and installation of the surface pumps is expected within 90 days.

Meanwhile, the Phase 1 and 2 concentrators continue to operate at approximately 50% of their combined capacity, processing ore from surface stockpiles. Ore from the western side of the Kakula Mine will be fed into the concentrators once underground operations restart.

Since mining operations began at Kakula in 2021, crews have completed over 18 months' worth of underground development ahead of the mine plan. This extensive advance development provides significant operational flexibility, allowing access to multiple production areas as they are deemed safe for re-entry.