Ivanhoe Electric obtains licences from Maaden

Executive Summary

• Maaden contributed an additional 1,345 sq km of exploration licences to the Ivanhoe Electric‑Maaden 50/50 joint venture, expanding its Saudi Arabian footprint.
• The new licences (946 sq km Musayna’ah and 399 sq km Mahd area) target IOCG‑type alteration and shallow gold mineralization adjacent to historic mines, with plans for up to 4,000 m of drilling in 2025‑2026.
• To date the JV has completed ~510 sq km of Typhoon geophysical surveys and drilled four holes (~2,100 m) that intersected low‑ to high‑grade base and precious metal mineralization at depths up to 1 km.

Key Details

• Licence addition: 1,345 sq km total (Musayna’ah = 946 sq km; Mahd area = 399 sq km).
• Geological potential: Musayna’ah shows IOCG‑type alteration and anomalous copper‑in‑soil geochemistry; Mahd area lies adjacent to the 3,000‑year‑old Mahd Ad Dhahab gold mine with historic shallow gold, copper and zinc hits.
• Typhoon surveying: JV has completed ~510 sq km of Typhoon surveys in 2025; additional 31 sq km already surveyed on La Huf licence (Mahd area). Continuous Typhoon work planned across Wadi Bidah and Musayna’ah licences for the remainder of 2025.
• Drilling to date: Four holes totalling ~2,100 m drilled in the Al Amar belt; intersected narrow intervals of low‑ to high‑grade base and precious metal mineralization at depths up to 1 km.
• Planned drilling: Up to 4,000 m of drill program slated for Wadi Bidah area, targeting volcanic‑hosted massive sulphide (VHMS) style mineralization identified by Typhoon surveys.
• Future work: Ongoing geological mapping, geochemical sampling, ground gravity and magnetic surveys across the new licences.

Notable Quotes

• Robert Friedland, Executive Chairman: “The Kingdom of Saudi Arabia has now become one of the most prospective and active frontiers for mineral exploration… We are proud to be at the forefront of this opportunity with our joint venture partner, Maaden.”
• Taylor Melvin, President & CEO: “Maaden's contribution of new, prospective exploration licences … is a testament to their confidence in our technology‑driven exploration platform… The addition of these new exploration licences enhances our outlook for future discoveries.”