Turquoise Hill Resources: Oyu Tolgoi Produces First Concentrate

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/31/13 -- Turquoise Hill Resources (TSX: TRQ)(NYSE: TRQ)(NASDAQ: TRQ) today announced that Oyu Tolgoi has produced its first copper-gold concentrate. This comes following the processing of first ore through the concentrator in early January 2012.

Kay Priestly, Chief Executive Office of Turquoise Hill, said, "Oyu Tolgoi continues to progressively ramp-up the mine and the production of first concentrate is another important milestone. We are making good progress on our timetable leading to the start of commercial operations."

With the achievement of first concentrate, commencement of commercial production at Oyu Tolgoi is expected within three to five months.

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, 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 57% interest in copper-gold miner Ivanhoe Australia (ASX: IVA)(TSX: IVA); and a 50% interest in Altynalmas Gold, a private company developing the Kyzyl Gold Project in Kazakhstan.

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Forward-looking statements

Certain statements made herein, including statements relating to the anticipated achievement of commercial production commencement milestones, other matters that are not historical facts and statements of our 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 harbour" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking information and statements relate to future events or future performance and reflect current expectations or believes 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 outlook.

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Contacts:

Investors

Turquoise Hill Resources

Jason Combes

Office: +1 604 648 3920
jason.combes@turquoisehill.com


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Turquoise Hill Resources

Tony Shaffer

Office: +1 604 648 3934
tony.shaffer@turquoisehill.com
www.turquoisehill.com