Turquoise Hill Provides Update on Oyu Tolgoi Project Financing Approval Process

Turquoise Hill Provides Update on Oyu Tolgoi Project Financing Approval Process 
VANCOUVER, CANADA -- (Marketwired) -- 07/29/13 -- Turquoise Hill
Resources (TSX:TRQ)(NYSE:TRQ)(NASDAQ:TRQ) announced that the company
has received notification from the Government of Mongolia that
project financing for Oyu Tolgoi will now require approval by the
Mongolian Parliament. 
Turquoise Hill continues to engage with Rio Tinto and the Government
of Mongolia to finalize project financing. Due to the need for
parliamentary approval, it is likely to take some time to gain the
necessary consent. As a result, funding and development of the Oyu
Tolgoi underground will be delayed until matters with the Mongolian
Government can be resolved and a new timetable has been agreed. 
Operations of the open-pit mine, commissioning of the concentrator
and the ongoing export of concentrate from Oyu Tolgoi will continue. 
About Turquoise Hill Resources  
Turquoise Hill Resources (TSX:TRQ)(NYSE:TRQ)(NASDAQ: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. Other assets include a 58% interest in
Mongolian coal miner SouthGobi Resources (TSX:SGQ)(HK:1878); a 57%
interest in copper-gold miner Inova Resources (TSX:IVA)(ASX:IVA),
formerly Ivanhoe Australia; and a 50% interest in Altynalmas Gold, a
private company developing the Kyzyl Gold Project in Kazakhstan,
which is in the process of being sold. 
Forward-looking statements 
Certain statements made herein, including statements relating to
matters that are not historical facts and statements of Turquoise
Hill's 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 harbor" provisions of the United
States Private Securities Litigation Reform Act of 1995.
Forward-looking information and statements relate to future events or
future performance, reflect current expectations or beliefs regarding
future events and 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
Forward-looking statements and information are made based upon
certain assumptions and other important factors that, if untrue,
could cause the actual results, performances or achievements of the
Company to be materially different from future results, performances
or achievements expressed or implied by such statements or
information. Such statements and information are based on numerous
assumptions regarding present and future business strategies and the
environment in which the Company will operate in the future,
including the price of copper and gold, anticipated costs and ability
to achieve goals, including the timing of the disposition of certain
of its non-core assets, such as the Company's 50% interest in
Altynalmas Gold Ltd. Certain important factors that could cause
actual results, performances or achievements to differ materially
from those in the forward-looking statements and information include,
among others, copper and gold price volatility, discrepancies between
actual and estimated production, mineral reserves and resources and
metallurgical recoveries, mining operational and development risks,
litigation risks, regulatory restrictions (including environmental
regulatory restrictions and liability), activities by governmental
authorities, currency fluctuations, the speculative nature of gold
exploration, the global economic climate, dilution, share price
volatility, competition, loss of key employees, additional funding
requirements and defective title to mineral claims or property.
Although the Company has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements and information,
there may be other factors that cause actions, events or results not
to be as anticipated, estimated or intended. 
All such forward-looking information and statements are based on
certain assumptions and analyses made by Turquoise Hill'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. Such factors include,
among other things, the political risks associated with Turquoise
Hill's principal operations in Mongolia; the impact of changes in,
changes in interpretation to or changes in enforcement of, laws,
regulations and government practices in the jurisdictions in which
Turquoise Hill operates; and changes in the attitudes of the
Mongolian government. 
Important factors that could cause actual results to differ from
these forward-looking statements include those described under the
heading "Risks Factors" included in the issuer's Annual Information
Form, both filed on SEDAR and EDGAR. These risk factors may be
generally stated as the risk that the assumptions and estimates
expressed above do not occur, including the assumption in many
forward-looking information or statements that other such information
or statements will be correct. The reader is cautioned not to place
undue reliance on forward-looking information or statements. All
forward-looking information and statements herein are made as of the
date hereof. Turquoise Hill does not intend or undertake to update or
revise forward-looking statements or information, whether written or
oral or whether as a result of new information, future events or
otherwise, that may be made by Turquoise Hill or on its behalf,
except as required by law.
Turquoise Hill Resources
Jason Combes
Office: +1 604 648 3920
Turquoise Hill Resources
Tony Shaffer
Office: +1 604 648 3934
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