Entrée Resources Welcomes Announcement of Updated Funding Plan to Complete Oyu Tolgoi Underground Construction

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[{"type":"text","content":"\n \n \n \n Entrée Resources Welcomes Announcement of Updated Funding Plan to Complete Oyu Tolgoi Underground Construction\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n April 9, 2021\n \n /CNW/ - Entrée Resources Ltd. (TSX: ETG) (OTCQB: ERLFF) – the \"\n \n Company\n \n \" or \"\n \n Entrée\n \n \") reports that on\n \n April 9, 2021\n \n , Turquoise Hill Resources Ltd. (\"\n \n Turquoise Hill\n \n \"), announced they have reached a binding agreement (\"\n \n Heads of Agreement\n \n \") with Rio Tinto on a funding plan to complete the construction of Lift 1 of the Oyu Tolgoi underground project (\"\n \n Oyu Tolgoi\n \n \") in\n \n Mongolia\n \n .\n \n \n The Hugo North Extension deposit on the Entrée/Oyu Tolgoi JV Property is an integral part of the Lift 1 mine plan.\n \n \n \n Stephen Scott\n \n , Entrée's President & CEO commented, \"This is great news for all Oyu Tolgoi project stakeholders, including Entrée.  Ensuring remaining necessary capital funding is in place eliminates a key Oyu Tolgoi underground project execution risk.  Achievement of this very important milestone moves the project one step closer to completion.\"\n \n \n Highlights of the Heads of Agreement include:\n \n \n \n Addresses the estimated remaining funding required of approximately\n \n US$2.3 billion\n \n \n 1\n \n and replaces the previous non-binding Memorandum of Understanding entered on\n \n September 2, 2020\n \n .\n \n \n Pursue re-profiling of existing project debt to better align with the revised mine plan, project timing and cash flows to reduce the currently projec...

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