Altynalmas Gold Announces a Feasibility Mineral Reserve Estimate of 5.76 Million Ounces at the Kyzyl Gold Project in Kazakhstan

Robert Friedland, founder and Chief Executive Officer of Ivanhoe Mines

and Chairman of Altynalmas Gold, and David Woodall, President and Chief Executive Officer of Altynalmas Gold, announced today at the BMO Capital Markets Global Metals & Mining Conference that an independent Feasibility Study estimates Mineral Reserves of 5.76 million ounces of gold at the Kyzyl Gold Project in northeastern Kazakhstan. The reserve estimate is based on an underground mining operation producing an average of 337,000 ounces of gold per year during an initial mine life of up to 15 years, based on Mineral Resources as of December 1, 2010. -- The successful completion of performance testing of a metallurgical process that recovers at least 88% of contained gold. -- The development of an innovative and proprietary ore treatment process that produces an environmentally stable, iron arsenate mineral by- product that meets international environmental standards. -- An 18% increase in the Indicated Mineral Resources, inclusive of Mineral Reserves, at the Kyzyl Gold Project, which now contain an estimated 7.35 million ounces of gold as of December 1, 2011. The project also contains an additional 3.0 million ounces of gold in Inferred Mineral Resources. The Mineral Resources are within the Bakrychik and Bakyrchik East deposits.