Turquoise Hill Resources Ltd (TRQ) Reports Q2 Production

Turquoise Hill Resources (NYSE: TRQ) (NASDAQ: TRQ) (TSX: TRQ) today announced second quarter 2017 production for Oyu Tolgoi.

Jeff Tygesen, Chief Executive Officer of Turquoise Hill, said, "Oyu Tolgoi's second quarter production results were as planned. Ore treated in the quarter was impacted by a scheduled five-day maintenance shutdown in May, which was successfully completed. Concentrator throughput for the first half of 2017 continued to perform well as did material mined."

In Q2'17, material mined increased 3.5% over Q1'17 while grades for the quarter were flat compared to Q1'17. Copper and gold production for Q2'17 was essentially in-line with Q1'17 production despite the planned maintenance shutdown. Sales of copper in Q2'17 decreased 5.6% over Q1'17 due to lower concentrate volumes during the quarter. Gold sales in Q2'17 decreased 28.1% over Q1'17 due to sales in Q1'17 including some higher-grade concentrate from Q4'16.

Oyu Tolgoi is expected to produce 130,000 to 160,000 tonnes of copper and 100,000 to 140,000 ounces of gold in concentrates for 2017. Open-pit operations are expected to mine in Phases 4 and 6 during the year. In addition, stockpiled ore will continue to be processed during 2017.

Oyu Tolgoi Production Data
All data represents full production and sales on a 100% basis

                                                                            

                                                                        Full

                  1Q     2Q     3Q     4Q     1Q     2Q     1H     1H   Year

                2016   2016   2016   2016   2017   2017   2016   2017   2016

----------------------------------------------------------------------------

                                                                            

Open pit                                                                    

 material                                                                   

 mined ('000                                                                

 tonnes)      22,867 22,716 25,739 25,615 24,333 25,193 45,582 49,527 96,938

Ore treated                                                                 

 ('000                                                                      

 tonnes)       9,662  9,525  9,146  9,819 10,087  9,637 19,187 19,724 38,152

Average mill                                                                

 head grades:                                                               

 Copper (%)     0.70   0.64   0.66   0.61   0.51   0.51   0.67   0.51   0.65

 Gold (g/t)     0.63   0.33   0.21   0.25   0.15   0.16   0.48   0.15   0.36

 Silver (g/t)   1.92   1.92   1.99   1.50   1.30   1.38   1.92   1.34   1.83

Concentrates                                                                

 produced                                                                   

 ('000                                                                      

 tonnes)       229.5  207.1  203.2  206.7  176.0  171.0  436.6  347.0  846.6

 Average                                                                    

  concentrate                                                               

  grade (%                                                                  

  Cu)           25.1   24.9   22.9   22.0   21.6   21.8   25.0   21.7   23.8

Production of                                                               

 metals in                                                                  

 concentrates                                                               

 :                                                                          

 Copper ('000                                                               

  tonnes)       57.6   51.7   46.6   45.5   38.1   37.2  109.2   75.3  201.3

 Gold ('000                                                                 

  ounces)        144     70     37     49     25     24    213     49    300

 Silver ('000                                                               

  ounces)        395    391    361    273    215    236    786    450  1,420

Concentrate                                                                 

 sold ('000                                                                 

 tonnes)       213.1  227.4  206.2  182.0  190.2  182.0  440.5  372.2  828.6

Sales of                                                                    

 metals in                                                                  

 concentrates                                                               

 :                                                                          

 Copper ('000                                                               

  tonnes)       51.2   54.4   45.7   37.6   39.5   37.3  105.7   76.7  188.9

 Gold ('000                                                                 

  ounces)        175     95     38     39     32     23    270     55    347

 Silver ('000                                                               

  ounces)        305    395    341    239    205    222    700    427  1,280

Metal                                                                       

 recovery (%)                                                               

 Copper         85.6   83.3   78.0   76.6   74.9   74.6   84.5   74.7   81.0

 Gold           72.2   69.3   62.0   63.4   48.8   47.7   71.2   48.3   68.5

 Silver         66.4   65.9   61.7   57.2   51.8   53.9   66.2   52.9   63.1

                                                                            

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