Ivanhoe Electric Inc. provided a comprehensive update on the ongoing exploration activities at its projects located in Arizona, Utah, and Montana. New highlighted assay intercepts at the Verde Domain include: Drill hole SCC-150 intersected: 6.43 meters 5.99% Total Copper (5.90% Total Soluble Copper) composed of intense atacamite mineralization (from 632.89 meters depth); Drill hole SCC-183 intersected: 19.81 meters 2.64% Total Copper (2.66% Total Soluble Copper) comprised of strong to intense atacamite mineralisation (from 641 meters depth); Drill hole S CC-186 intersected: 59.26 meters 2.60% Total Copper (2.67% Total Soluble Copper) comprising of strong to intense atacAMite mineralization (from 625 meters depth); Recent Verde Domain drilling has intersected additional visual mineralization including: Drill hole SCC-192: 34 meters (645-679 meters) of strong atacamite mineralization; Drill hole SCC-196: 68 meters (613-681 meters) of strong atacAMite mineralization. Current exploration drilling at the Tintic Project, in Utah focuses on the source of mineralization of historical mines.

Eleven diamond drill holes totaling 11,568 meters have been completed since the commencement of exploration drilling in late 2022. Tintic Project map showing Ivanhoe Electric drill hole locations, Typhoon?? chargeability anomalies, key historical mines, mapped fissure veins and carbonate replacements, shown over a simplified geology map.

This intercept is of a similar grade and quality to that seen in previously reported holes, and demonstrates that the Hog Heaven epithermal system has growth potential to the west of the Flathead Mine. One rig remains in operation through the winter where drilling will focus to the west to determine how far the system extends. Drill hole HHD-014, currently underway, has intersected additional high sulfidation epithermal mineralization and alteration an additional 250 meters to the west.

Recent drill hole intercepts for the Hog Heaven Project.