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  CHINAExploration in Northern China, focusing on high-quality projects for acquisition Ivanhoe Mines has conducted an active exploration program in Inner Mongolia, China since 2003, principally through two joint ventures with Chinese governing bodies. Reconnaissance field exploration was re-initiated in April 2008, focusing initially in central Inner Mongolia and is continuing in surrounding provinces. The program consists of a field geological assessment covering a combined area of over 50,000 square kilometres. The program is initially targeting known unlicensed and licensed gold, silver, base metal and copper occurrences and deposits. The programme involves detailed data reviews, field traverses and systematic rock chip and channel sampling of all occurrences and deposits of interest to Ivanhoe Mines. The aim of the program is to identify high-quality, semi-advanced and grass-roots projects for acquisition through license bidding application over unlicensed targets, joint venture formation with, or direct purchase from the existing license holders. May 2008 -- Ivanhoe Mines sells Jinshan Gold Mines for C$217.7 million On April 10, 2008, Ivanhoe Mines announced that it has agreed to sell to China National Gold Group Corporation of Beijing, and its financial partners, its entire holding of 67,520,060 common shares of Jinshan Gold Mines, at a price of C$3.1115 a share and the Jinshan promissory note of C$7.5 million. The aggregate proceeds to be received will be C$217.7 million. The transaction closed on May 13, 2008. Ivanhoe Mines will record a gain on the sale of its interest in Jinshan in Q2'08. IMPORTANT DISCLAIMER |