November 8, 2022
Ivanhoe Electric Confirms East Ridge Discovery at Santa Cruz Copper Project in Arizona East Ridge Exploration Area Typhoon™ Anomaly to be Explored Further High-Grade Copper Assays Received from Infill Drilling at Santa Cruz Deposit Area Santa Cruz Infill Drill Hole SCC-084 Intersects 314 Meters Grading 1.06% Copper, Including 144 Meters of 1.38% Copper, 76 Meters of 1.86% Copper and 14 Meters at 2.41% Copper NEW YORK, NEW YORK – Ivanhoe Electric (NYSE American: IE; TSX: IE) Chairman and Chief Executive Officer Robert Friedland is pleased to announce the discovery of the East Ridge oxide copper zone at the Santa Cruz Copper Project, located west of Casa Grande, Arizona. These exploration results have demonstrated the effectiveness of Ivanhoe Electric’s proprietary Typhoon™ surveying system for identifying hidden copper deposits in the American Southwest. In addition, we are beginning to receive high-grade copper assay results from the extensive drilling campaign in the Santa Cruz Deposit area. These results will be incorporated into the updated Mineral Resource Estimate for the Santa Cruz Project expected in January 2023. Mr. Friedland commented: “The discovery of copper mineralization at East Ridge is exciting in that it appears to be open for expansion in all directions. This area, identified by our Typhoon™ surveying system, and backed by detailed geological analysis, has proven the effectiveness of our ability to discover new copper deposits in areas hidden under gravel cover within the Basin and Range Province of the Western United States.” “In addition, the results from our drill campaign at Santa Cruz have confirmed the spectacular grade of the known Santa Cruz Deposit. With the steady pace of new information being received from our work at Santa Cruz, we are increasing our understanding of this enriched copper deposit. Using our Typhoon™ technology, and now with the knowledge of the Santa Cruz ‘fingerprint’, we are encouraged by the prospect of additional copper discoveries in the area.”