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Oyu Tolgoi LLC Announces appointment of new President and CEO

Oyu Tolgoi LLC, owner and operator of Mongolia’s largest gold and copper mining project, announced the appointment today of a new President and CEO, Mr. Cameron McRae. Cameron McRae will take over the position on 1 December 2010, from current President and CEO, Keith Marshall, who has managed the Oyu Tolgoi project for almost three years.

Cameron McRae joins Oyu Tolgoi from Rio Tinto’s subsidiary Richards Bay Minerals in South Africa where he was Managing Director and CEO. He joined Rio Tinto in 1986 and has worked in the steel, copper, coal, diamonds and industrial minerals divisions as well as performing various corporate roles. He has been based in Africa for the last 5 years.

Andrew Harding, Chief Executive of Rio Tinto Copper, and Chairman of Oyu Tolgoi LLC’s Technical Committee said: “Cameron has a strong track record of managing major mining joint ventures and building effective relationships with government and communities. He is the ideal candidate to take over the next important stage of Oyu Tolgoi’s development.”

Mr. Harding added: “Keith Marshall has been instrumental in the rapid development of the Oyu Tolgoi project; he was involved in the negotiating and signing of the historic Oyu Tolgoi Investment Agreement with the Government of Mongolia and has successfully guided the project into its construction phase. I would like to thank Keith, and his wife Moira, for their sterling work in Mongolia over the past three years.”Mr. Marshall will be relocating back to the UK, where he will be taking up a senior role with Rio Tinto in London.

Cameron McRae said: “I am honoured and excited by the opportunity to lead the Oyu Tolgoi project. This is a huge endeavour and critical to Mongolia’s economic development. I am looking forward to working with the Mongolian Government and other shareholders, our project team and key contractors to build the Oyu Tolgoi mine and facilities, and to deliver the infrastructure required to support this important venture.”

He continued, “I look forward to achieving the aims set out in the Investment Agreement which was signed a year ago, and to delivering the project safely, recognising that there are always challenges facing an undertaking of this scale and complexity. I will work closely with our key stakeholders to ensure that Oyu Tolgoi becomes a great asset for Mongolia.”

“I would also like to acknowledge the contribution of Keith Marshall who has worked so diligently to get the project to its current position.”

For further information, please contact:

Odgerel Byamba: Senior Communications Manager, Oyu Tolgoi: + 976-99092816

Email: Mariaw@ot.mn; Email: Odgerelb@ot.mn

About Oyu Tolgoi LLC (www.ot.mn)

Oyu Tolgoi LLC, Mongolia's largest copper and gold mining company, is a strategic partnership between the Government of Mongolia, Turquoise Hill Resources and Rio Tinto. Located in the South Gobi, Oyu Tolgoi commenced shipment of product to customers in July 2013. Oyu Tolgoi is managed by Rio Tinto, which is investing global expertise and cutting-edge technology to help develop Mongolia’s mining industry and ensure Oyu Tolgoi is one of the world’s most advanced mines. For Oyu Tolgoi, nothing matters more than safety. The business operates under the principle that if a job cannot be done safely, it will not be done at all.

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