Ivanhoe Mines Issues Statement on Market Activity and Discussions on Mongolia Project

In response to queries received from investors, Ivanhoe Mines (TSX: IVN)(NYSE: IVN)(NASDAQ: IVN) President and CEO John Macken said today that there are no adverse material events that would account for recent selling pressure on Ivanhoe Mines' stock in trading on the Toronto, New York and NASDAQ exchanges.

Mr. Macken said that senior management of Ivanhoe Mines and its strategic partner, Rio Tinto, met recently with Mongolian government representatives to discuss the necessary remaining steps for the negotiation and parliamentary approval of a fair and equitable Investment Agreement for the Oyu Tolgoi copper-gold project.

He said the government representatives are well aware of the international financial crisis and have stated that they share the investors' high priority for the conclusion of an acceptable agreement as soon as possible to permit full-scale construction of the project to proceed.

Contacts: Ivanhoe Mines Ltd. Bill Trenaman Investor Relations (604) 688-5755 Ivanhoe Mines Ltd. Bob Williamson Media (604) 688-5755 Website: www.ivanhoe-mines.com

SOURCE: Ivanhoe Mines Ltd.

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