Ivanhoe Electric Inc. - IE STOCK NEWS

Ivanhoe Electric (NYSE American:IE) has reported positive drilling results at the Santa Cruz Copper Project in Arizona. Drill hole SCC-122 intersected soluble copper minerals, indicating expansion potential of the resource. Infill drill hole SCC-058 showed 55 meters grading 3.10% copper, with a notable section grading 4.15% copper. An Initial Assessment is underway to evaluate the economics of a potential underground mine. The project utilizes Ivanhoe's proprietary Typhoon technology to optimize drilling operations. This update follows a Mineral Resource Estimate from December 31, 2022, supporting continued high-grade copper mineralization.

Ivanhoe Electric has signed an agreement to earn an 80% interest in the White Hill Copper Project in Nevada, partnering with Exiro Minerals. The project spans 20,992 acres and contains promising copper-skarn mineralization.

Employing its proprietary Typhoon™ technology, Ivanhoe Electric aims to explore for larger mineralized systems at depth. The agreement requires Ivanhoe to invest $10 million and pay Exiro $4.95 million to secure its interest. White Hill is situated in a region known for significant copper production, making it strategically valuable for future exploration and development.

Ivanhoe Electric announced a significant update to the Mineral Resource Estimate for the Santa Cruz Copper Project, revealing a 65% increase in tonnage and an 82% increase in total contained copper in indicated resources. The overall project-wide contained copper in indicated resources rose by 11%, with the copper cut-off grade nearly doubling to 0.70%. Initial estimates from the adjacent East Ridge and Texaco deposits confirm expansion potential. Recent metallurgical tests indicate a recovery rate of up to 94% total copper with improved leach processes. An investor call is scheduled for February 14, 2023.

Ivanhoe Electric (NYSE American:IE) announces the appointment of Cassandra Joseph as Vice President, General Counsel, and Corporate Secretary, effective February 1, 2023. With over 20 years of legal experience in the U.S. mining sector, Ms. Joseph previously held senior roles at Nevada Copper and Tahoe Resources. Her extensive background in corporate, environmental, and intellectual property law is expected to significantly benefit the company. CEO Taylor Melvin expressed enthusiasm about her joining and anticipates her expertise will support Ivanhoe Electric’s corporate objectives and legal strategies in the mining industry.

Ivanhoe Electric has signed a binding agreement with Ma'aden to establish a 50/50 joint venture aimed at exploring approximately 48,500 km² in Saudi Arabia. The partnership includes a strategic investment of US$126.4 million from Ma'aden, granting it a 9.9% stake in Ivanhoe Electric. This venture will leverage Ivanhoe's proprietary Typhoon technology for mineral exploration, enhancing Ma'aden's position as a supplier of strategic minerals. The deal is expected to close by the end of Q1 2023.

Ivanhoe Electric (NYSE American: IE) announces that Executive Chairman Robert Friedland will present at the Future Minerals Forum in Riyadh, Saudi Arabia, on January 11, 2023. The event aims to address global mineral production strategies essential for achieving net zero emissions. Last year, the inaugural forum attracted over 3,500 participants from more than 100 countries. Ivanhoe Electric focuses on revolutionizing mining through innovative technologies and renewable energy, positioning itself to support American supply chain independence for critical metals.

Ivanhoe Electric (NYSE American: IE) announced a strategic agreement with JCHX Mining Management for a joint development of the Alacran Project in Colombia. JCHX will acquire a 50% stake for $100 million, comprising three cash installments. The first payment of $40 million is due at closing, expected before Q1 2023. Subsequent payments of $40 million and $20 million are contingent on project milestones. The partnership will be governed by a Joint Venture Shareholders' Agreement, ensuring Cordoba operates the project and JCHX has offtake rights.

Ivanhoe Electric has reported the confirmation of copper mineralization at a depth of 1,059 meters at its Typhoon™ Far Southwest Anomaly, part of the Santa Cruz Copper Project in Arizona. The drilling operations indicate promising results from both the Far Southwest and East Ridge discoveries, with visual results showing oxide copper mineralization. The use of Typhoon™ technology is expected to enhance resource expansion opportunities. A Preliminary Economic Assessment is anticipated to be completed by Q2 2023, supporting the project's viability.

Ivanhoe Electric has initiated drilling at the Tintic Copper-Gold Project in Utah, marking a significant step after extensive property acquisition and geological mapping over five years. Executive Chairman Robert Friedland highlighted the historical significance of the Tintic Mining District, noting its rich history of high-grade mineral production since 1869. Utilizing the Typhoon^TM surveying system, the company aims to explore large-scale anomalies akin to the Bingham Canyon mine. The drilling program will target near-surface gold, copper, and silver mineralization with plans for a broader campaign in Spring 2023.