Ivanhoe Australia Limited

Ivanhoe Australia Limited

September 19, 2011 21:01 ET

Ivanhoe Australia Appoints Experienced Mining Executive Brendan Gill as Chief Financial Officer

Executive Management Team Further Strengthened as Company Moves From Explorer to Producer

MELBOURNE, AUSTRALIA--(Marketwire - Sept. 19, 2011) - Robert Friedland, Chairman, and Peter Reeve, Chief Executive Officer of Ivanhoe Australia Limited (TSX:IVA)(ASX:IVA), are pleased to announce the appointment of Brendan Gill as Chief Financial Officer. He will assume duties with Ivanhoe Australia in early October.

Mr Gill's appointment further strengthens the company's Executive Management team as it prepares for the start of copper-gold production at the Osborne Processing Complex in March 2012 and advances its substantial project development and exploration programs.

Mr Gill previously had a 27-year career with BHP Billiton where he held several senior executive finance and management positions, including Chief Financial Officer of the Stainless Steel Materials and Nickel divisions. More recently, Mr Gill was Chief Financial Officer of ASX-listed Intrepid Mines Limited and Energy Developments Limited.

"Brendan's appointment is a further critical step on the path toward building a strong executive management capability that will guide the transformation of Ivanhoe Australia from explorer to producer," Mr Reeve said.

"With production set to begin from our Osborne and Kulthor underground mines in just over six months, and three major development projects in scoping and pre-feasibility phases, Brendan's experience in financial and capital management will ensure that optimal capital investment decisions are made."

Apart from his responsibilities as CFO and in other senior management posts within BHP Billiton companies and with independent listed entities, Mr Gill also has had extensive risk-management experience, including the role of head of Global Risk Management at BHP. He also has expertise in mergers and acquisitions, treasury management, business integration and organisational efficiency.

Mr Gill holds a Bachelor of Business degree from Royal Melbourne Institute of Technology and is a Certified Practising Accountant.

Ivanhoe Australia has four major projects under development in the Mount Isa/Cloncurry district in northwestern Queensland. The Osborne copper and gold project is planned to begin production in March 2012 and the Merlin molybdenum and rhenium project is nearing finalisation of the pre-feasibility stage, with construction of the decline into the deposit already underway. Two additional copper gold projects, Mount Dore and Mount Elliott, are under study and are expected to be in production in 2014 and 2016 respectively. Successful launches of these projects will transform Ivanhoe Australia into a substantial base-metal producer in the Australian market.

Ivanhoe Mines (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) is Ivanhoe Australia's largest shareholder.

Forward-Looking Statement

Certain statements made herein, including statements relating to matters that are not historical facts and statements of our beliefs, intentions and expectations about developments, results and events which will or may occur in the future, constitute "forward-looking information" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking information and statements are typically identified by words such as "anticipate", "could", "should", "expect", "seek", "may", "intend", "likely", "plan", "estimate", "will", "believe" and similar expressions suggesting future outcomes or statements regarding an outlook. These include but are not limited to statements about project schedules and production commencements.

All such forward-looking information and statements are based on certain assumptions and analyses made by Ivanhoe Australia's management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. The reader is cautioned not to place undue reliance on forward-looking information or statements.

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