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
mine.  
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
plant. 
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 
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Contacts:
Investors
Turquoise Hill Resources
Jason Combes
+1 604 648 3920
jason.combes@turquoisehill.com 
Media
Turquoise Hill Resources
Tony Shaffer
+1 604 648 3934
tony.shaffer@turquoisehill.com
www.turquoisehill.com
 
 
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