Investment in Ivanhoe Mines

Tiger Resource Finance PLC
11 October 2001

                          Tiger Resource Finance plc


                     Investment in Ivanhoe Mines Limited



The Board of Tiger Resource Finance plc ('Tiger'), the London-based
specialised mining finance company, is pleased to announce that it has
acquired 360,000 shares through a private placing at US$1.00 per share in
Ivanhoe Mines Limited ('Ivanhoe').


Ivanhoe is a Toronto listed diversified mining company with interests
primarily located in south-east Asia. Following the most recent placing
Ivanhoe has 124.9m shares in issue capitalising the company at US$143.8m, at a
current share price of US$1.15 per share.


Ivanhoe is the 50% owner operator of the Monywa copper mine in Myanmar
(formerly Burma), one of the lowest cost primary copper producers in the
world. Monywa is currently undergoing an expansion programme to quadruple
production. In Tasmania, iron ore pellets are produced from the wholly owned
Savage River mine. Ivanhoe is developing two high-grade gold projects, in
Myanmar and South Korea, while production from the Bakyrchik mine in
Kazakhstan is expected to commence by the end of 2001.


Ivanhoe is currently developing the very exciting Turquoise Ridge copper/gold
porphyry project in Mongolia. The first deep hole, Hole 150, assayed 0.81%
copper and 1.17 grams/tonne gold over a strike length of 508 metres. Further
drilling has confirmed similar copper values with higher gold values,
suggesting a high-grade copper/gold porphyry within a large mineralised zone.
The deposit lies near surface making it amenable to open pit mining. Three
additional drill rigs have been moved on to the property recently to conduct a
16,000 metres drilling programme. Ivanhoe holds an option to purchase 100% of
Turquoise Hill from BHP Billiton.




For further information:


Jeremy Metcalfe

Chairman

Tiger Resource Finance plc

Tel: [phone]


Kjeld Thygesen

Lion Resource Management Limited

Tel: [phone]



11 October, 2001