Ivanhoe Joint Venture

Soldiers Cap & Tringadee Project Areas - NW QUEENSLAND
EXCO 20%, IVANHOE 80%

Copper & Gold

In May 2007, Exco and Ivanhoe Cloncurry Mines Pty Ltd, a subsidary of Ivanhoe Australia (ASX:IVA) ("Ivanhoe") entered into a joint venture agreement over a number of Exco's tenements which covers a total area of 541km2. Under the terms of the agreement, as amended, Ivanhoe was required to spend $5.5m by May 2011 to earn an 80% interest in the joint venture tenements.

On 6 April 2011 Ivanhoe informed Exco that as of 31 March 2011 it had expended more than $5.5m on exploration. Accordingly, Ivanhoe exercised its option to acquire an 80% interest in the joint venture tenements.

Additional information may be available on the Ivanhoe Australia website.

http://www.ivanhoeaustralia.com

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