Turquoise Hill Resources: Oyu Tolgoi Begins Concentrate Shipments

VANCOUVER, BRITISH COLUMBIA–(Marketwired – Jul 9, 2013) –
Turquoise Hill Resources
(TSX:TRQ)(NYSE:TRQ)(NASDAQ:TRQ) today announced that the Oyu Tolgoi
mine has commenced shipping copper concentrate. The initial sale of
approximately 5,800 tonnes of concentrate is being sent to
customers in China. A convoy carrying approximately 600 tonnes of
concentrate departed from the mine on Tuesday, July 9, 2013 with
the remainder of the shipment taking place over the next two
weeks.

Kay Priestly, Turquoise Hill Chief Executive Officer, said, “The
shipping of concentrate is a significant milestone in Oyu Tolgoi’s
development. It is gratifying to see the world-class mine
continuing its ramp up and generating benefits for stakeholders and
Mongolia. The entire staff at Oyu Tolgoi is to be commended for
their hard work and dedication in making this major event
possible.”

All permits and authorities required for on-going concentrate
shipments are in place, including approvals by the Oyu Tolgoi LLC
board. Oyu Tolgoi remains committed to maintaining transparency in
its operations and managing export revenues consistent with the
Investment Agreement.

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. 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, which is in the process of being sold.

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Forward-looking
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Certain statements made herein, including statements relating to
matters that are not historical facts and statements of Turquoise
Hill’s beliefs, intentions and expectations about developments,
results and events which will or may occur in the future,
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Forward-looking information and statements relate to future events
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similar expressions suggesting future outcomes or statements
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Forward-looking statements and information are made based upon
certain assumptions and other important factors that, if untrue,
could cause the actual results, performances or achievements of the
Company to be materially different from future results,
performances or achievements expressed or implied by such
statements or information. Such statements and information are
based on numerous assumptions regarding present and future business
strategies and the environment in which the Company will operate in
the future, including the price of copper and gold, anticipated
costs and ability to achieve goals, including the timing of the
disposition of certain of its non-core assets, such as the
Company’s 50% interest in Altynalmas Gold Ltd. Certain important
factors that could cause actual results, performances or
achievements to differ materially from those in the forward-looking
statements and information include, among others, copper and gold
price volatility, discrepancies between actual and estimated
production, mineral reserves and resources and metallurgical
recoveries, mining operational and development risks, litigation
risks, regulatory restrictions (including environmental regulatory
restrictions and liability), activities by governmental
authorities, currency fluctuations, the speculative nature of gold
exploration, the global economic climate, dilution, share price
volatility, competition, loss of key employees, additional funding
requirements and defective title to mineral claims or property.
Although the Company has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those described in forward-looking statements and
information, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended.

All such forward-looking information and statements are based on
certain assumptions and analyses made by Turquoise Hill’s
management in light of their experience and perception of
historical trends, current conditions and expected future
developments, as well as other factors management believes are
appropriate in the circumstances. These statements, however, are
subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ materially from
those projected in the forward-looking information or statements.
Such factors include, among other things, the political risks
associated with Turquoise Hill’s principal operations in Mongolia;
the impact of changes in, changes in interpretation to or changes
in enforcement of, laws, regulations and government practices in
the jurisdictions in which Turquoise Hill operates; and changes in
the attitudes of the Mongolian government.

Important factors that could cause actual results to differ from
these forward-looking statements include those described under the
heading “Risks Factors” included in the issuer’s Annual Information
Form, both filed on SEDAR and EDGAR. These risk factors may be
generally stated as the risk that the assumptions and estimates
expressed above do not occur, including the assumption in many
forward-looking information or statements that other such
information or statements will be correct. The reader is cautioned
not to place undue reliance on forward-looking information or
statements. All forward-looking information and statements herein
are made as of the date hereof. Turquoise Hill does not intend or
undertake to update or revise forward-looking statements or
information, whether written or oral or whether as a result of new
information, future events or otherwise, that may be made by
Turquoise Hill or on its behalf, except as required by law.