Acquisition Of Private Land At Santa Cruz Copper Project in Arizona

PHOENIX, AZ - Ivanhoe Electric reported the closing of its previously disclosed private land acquisition at its Santa Cruz Copper Project in Casa Grande, Arizona. The terms of the Purchase and Sale Agreement (PSA) for the acquisition of surface title and associated water rights.

Taylor Melvin, President and Chief Executive Officer, commented: "We are excited to close our previously announced land acquisition at our Santa Cruz Copper Project in Arizona. Acquiring this land is a major milestone in the advancement of our Santa Cruz Project, where we already have agreements in place to control all the mineral rights associated with the acquired surface land. The land acquisition puts us in excellent position to finalize our initial economic assessment, which we expect to release in the third quarter of this year."