Ivanhoe Electric and Ma'aden Joint Venture Commences Drilling Activities in Saudi Arabia

Ivanhoe Electric Inc. (NYSE American: IE) and the Saudi Arabian Mining Company, Ma'aden (1211), have initiated drilling activities in Saudi Arabia. This marks a significant milestone for the Joint Venture, which started operations less than ten months ago. The drilling focuses on the Umm Ad Dabah anomaly located in the Al Amar Belt.

The Typhoon™ survey, covering 155 km2 near Ma'aden's Al Amar Gold-Copper-Zinc Mine, identified two chargeability anomalies. Current efforts are concentrated on Umm Ad Dabah, with the second area, Area B, scheduled for drilling later this month.

The initial drill program includes eight holes to test the anomaly over the next two months. Drilling will start at a depth of approximately 250 meters and progressively reach depths over 1,000 meters. An additional Typhoon™ machine is set to arrive in September to enhance exploration efforts.

Expansion plans include surveying the Wadi Bidah and Bir Umq regions. The Joint Venture has access to over 48,500 km2 of exploration licenses and applications in Saudi Arabia, aiming to unlock significant mineral potential.