COPPER-GOLD EXPLORATION NEWS Hugo Dummett High-Grade Core Doubles

ULAN BATOR, Mongolia According to IVANHOE MINES, the Hugo Dummett deposit at its Turquoise Hill project is growing by leaps and bounds. The latest reserve figures calculated by AMEC E&C Services puts inferred resources at 1.36 billion tonnes grading 1.04% Cu and 0.15 g/t Au. Estimates of the size of the high-grade core have more than doubled to 149 million tonnes at 2.88% Cu and 0.53 g/t Au. Both the deposit and its high-grade core are open.

The Hugo Dummett deposit (formerly the Far North zone) is the largest of four mineralized zones at Ivanhoe's Turquoise Hill project. The company believes it is working on one of the world's largest and highest grade gold-copper porphyry systems. Underground exploration is now being conducted. More about the project is posted at www.ivanhoe-mines.com.

Ivanhoe chairman Robert Friedland, vendor of the Voisey's Bay nickel-cobalt claims that Inco is developing, has taken exception to an upcoming article about him in Forbes Magazine. The article, titled simply "The Promoter", has prompted Friedland to say it "suppresses and obfuscates the truth about Ivanhoe's discovery and its project transactions and falsely defames me by impugning my business ethics." You can read it at www.forbes.com by searching for Ivanhoe Mines.

The weather in Ulan Bator at noon Wednesday was a clear and calm 12C with 80% humidity.