Ivanhoe Mines expects to maintain a majority of independent directors on the Ivanhoe board

Ivanhoe Mines Deputy Chairman Peter Meredith said he expected the company’s 14-member Board of Directors will continue to maintain a majority of independent directors, in accordance with the December 8, 2010, Heads of Agreement signed by Ivanhoe Mines and Rio Tinto.

Mr. Meredith was responding to shareholders’ questions received following a Rio Tinto filing with the US Securities and Exchange Commission yesterday in which Rio Tinto said it anticipated it would gain more than a majority of the seats on the Ivanhoe Mines board by seeking the replacement of a majority of the present roster of directors who were not appointed by Rio Tinto. Rio Tinto currently has seven nominees on the Ivanhoe Mines board, including four independents. As part of the 2010 Heads of Agreement, Rio Tinto agreed that at least eight of the 14 directors on the Ivanhoe Mines board would be independent, based on criteria established under Canadian and US securities laws, until the earlier of either January 18, 2014, or the date that Ivanhoe ceases to be a Canadian public company. The Heads of Agreement also provides that the independent directors remain entitled to appoint one of the independent directors to serve as chairman of the board.

Rio Tinto announced on January 24 that it had increased its ownership stake in Ivanhoe Mines to 51%, from 4