Ivanhoe Mines Changes Name to Turquoise Hill Resources

New Trading Symbol "TRQ" to be Effective From August 8, 2012

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 2, 2012) - Ivanhoe Mines today announced that the company's name change to Turquoise Hill Resources Ltd. (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN) now has gone into effect. The new name was approved by shareholders at the company's annual meeting on June 28, 2012.

The company's new trading symbol will be "TRQ" and will become effective at the opening of trading on the Toronto Stock Exchange, the New York Stock Exchange and the NASDAQ Stock Market on August 8, 2012.

Kay Priestly, Chief Executive Officer of Turquoise Hill Resources, said, "Changing our name to Turquoise Hill Resources marks another milestone in our corporate history. Our new name more closely aligns the company with our world-class Oyu Tolgoi Project and will have added significance as we rapidly approach the start of production."

A corporate name change was an element of the memorandum of agreement with Rio Tinto announced on April 18, 2012.

The change to Turquoise Hill Resources will not affect existing Ivanhoe Mines stock certificates. Shareholders are not required to submit their current certificate for new Turquoise Hill Resources stock certificates.

About Turquoise Hill Resources

Turquoise Hill Resources (TSX:IVN)(NYSE:IVN)(NASDAQ:IVN), 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 development 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 (TSX:IVA)(ASX:IVA), which is also developing a molybdenum-rhenium mine; and a 50% interest in Altynalmas Gold, a private company developing the Kyzyl Gold Project in Kazakhstan.

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Forward-looking statements

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Contact Information:

Turquoise Hill Resources Ltd. -
Jason Combes
+1 604 648 3920

Turquoise Hill Resources Ltd.
Tony Shaffer
+1 604 648 3934