Monday, October 21, 2013

[BREAKING: OT now recording revenue as customers begin collecting concentrate at China border]

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BREAKING NEWS: Monday, October 21, 2013

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Oyu Tolgoi's Customers Begin Collecting Concentrate From Chinese Border Warehouse

VANCOUVER, BRITISH COLUMBIA--(Marketwired - October 21, 2013) - Turquoise Hill Resources (TSX:TRQ)(NYSE:TRQ)(NASDAQ:TRQ) today announced that Oyu Tolgoi's customers have been engaged with Chinese customs officials and have received the necessary approvals allowing them to collect purchased concentrate. A convoy carrying concentrate departed from the Chinese-border warehouse on Saturday, October 19, 2013.

The withdrawal of concentrate from the warehouse by customers is expected to ramp up quickly. As revenue is recognized when customers collect concentrate, Oyu Tolgoi will now begin recording revenue.

Production at Oyu Tolgoi was not impacted while customers worked through the customs process. Shipments of concentrate are expected to be aligned with production rates by the end of 2013.

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