Oyu Tolgoi Concludes Final Power Purchase Agreement

Oyu Tolgoi Concludes Final Power Purchase Agreement 
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/05/12 -- Turquoise
Hill Resources (NYSE:TRQ)(NASDAQ:TRQ)(TSX:TRQ) today announced that
Oyu Tolgoi LLC has signed a binding power purchase agreement with the
Inner Mongolia Power Corporation to supply power to the Oyu Tolgoi
Kay Priestly, Chief Executive Officer of Turquoise Hill, said,
"Finalization of the power purchase agreement will enable Oyu Tolgoi
to complete commissioning leading to the first production of
copper-gold concentrate. The Governments of Mongolia and China have
been instrumental in helping the parties conclude the commercial
components of the agreement. With phase-one construction essentially
complete, we are on the verge of Oyu Tolgoi becoming a world-class
operational mine and delivering long-term benefits to Mongolia." 
Within the next few weeks Oyu Tolgoi is expected to begin a
seven-week commissioning of the ore-processing equipment. First
concentrate production will follow within one month and the
commencement of commercial production is expected three to five
months thereafter. 
The Oyu Tolgoi Investment Agreement recognized that the reliable
supply of electrical power is critical to the project. The agreement
also confirmed that Turquoise Hill has the right to obtain electrical
power from inside or outside Mongolia, including China, to meet its
initial electrical power requirements for up to four years after Oyu
Tolgoi begins commercial production. The agreement established that
a) Turquoise Hill has the right to build or sub-contract construction
of a coal-fired power plant at an appropriate site in Mongolia's
South Gobi Region to supply Oyu Tolgoi; and b) all of the project's
power requirements would be sourced from within Mongolia no later
than four years after the start of commercial production. Turquoise
Hill continues to evaluate the development of a dedicated power
About Turquoise Hill Resources  
Turquoise Hill Resources (NYSE:TRQ)(NASDAQ:TRQ)(TSX:TRQ), formerly
Ivanhoe Mines, is an international mining company focused on copper,
gold and coal mines in the Asia Pacific region. The company's primary
operation is its 66% interest in the Oyu Tolgoi copper-gold-silver
mine in southern Mongolia, which is
 expected to begin commercial
production in the first half of 2013. Other assets include a 58%
interest in Mongolian coal miner SouthGobi Resources
(TSX:SGQ)(HK:1878); a 59% interest in copper-gold miner Ivanhoe
Australia (ASX:IVA)(TSX:IVA); and a 50% interest in Altynalmas Gold,
a private company developing the Kyzyl Gold Project in Kazakhstan. 
Follow us on Twitter @TurquoiseHillRe 
Forward-looking statements 
Certain statements made herein, including statements relating to the
anticipated achievement of commercial production commencement
milestones, other matters that are not historical facts and
statements of our beliefs, intentions and expectations about
developments, results and events which will or may occur in the
future, constitute "forward-looking information" within the meaning
of applicable Canadian securities legislation and "forward-looking
statements" within the meaning of the "safe harbour" provisions of
the United States Private Securities Litigation Reform Act of 1995.
Forward-looking information and statements are typically identified
by words such as "anticipate," "could," "should," "expect," "seek,"
"may," "intend," "likely," "plan," "estimate," "will," "believe" and
similar expressions suggesting future outcomes or statements
regarding an outlook.  
All such forward-looking information and statements are based on
certain assumptions and analyses made by issuer's management in light
of their experience and perception of historical trends, current
conditions and expected future developments, as well as other factors
management believes are appropriate in the circumstances. These
statements, however, are subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking information or statements. Important factors that
could cause actual results to differ from these forward-looking
statements include those described under the heading "Risk Factors"
included in the final prospectus or in the issuer's Annual
Information Form, both filed on SEDAR and EDGAR. The reader is
cautioned not to place undue reliance on forward-looking information
or statements. 
Turquoise Hill Resources
Jason Combes
+1 604 648 3920
Turquoise Hill Resources
Tony Shaffer
+1 604 648 3934
Press spacebar to pause and continue. Press esc to stop.