Entree Gold Finalizes Agreement with HoneyBadger Exploration

About this update from Entree Resources Ltd

[{"type":"text","content":"\n\n\n\nVANCOUVER, Aug. 25 /CNW/ - Entree Gold Inc. (TSX:ETG; NYSE Amex:EGI;\nFrankfurt:EKA - "Entree" or the "Company") announces that the Company has\ncompleted due diligence and received regulatory approval for the option\nagreement with HoneyBadger Exploration Inc. (TSX.V:TUF - "HoneyBadger")\npreviously announced on July 23, 2009.\n\n\nEntree and HoneyBadger intend to explore for and develop porphyry copper\ntargets in the Yerington porphyry copper district of western Nevada.\nHoneyBadger has assembled a substantial land package covering over 12,500\nacres (5,080 hectares), known as the Yerington West Project.\n\n\nGreg Crowe, Entree's President and CEO commented, "Considerable\nexploration and mining has been done in the Yerington region since the early\npart of the twentieth century. Between 1953 and 1978, Anaconda produced almost\n2 billion pounds of copper from a single open pit. The area was generally\ninactive in the 1980s and 1990s, but has seen renewed interest in the past few\nyears. Our agreement with HoneyBadger gives Entree shareholders a foothold\ninto this highly prospective area."\n\n\nUnder the terms of the agreement, Entree may acquire up to an 80%\ninterest in a portion of the Yerington West Project, known as the Blackjack\nProperty.\n\n\nEntree and HoneyBadger are planning an aggressive drill program\ncommencing in the fourth quarter 2009. This program is expected to test\nnumerous targets generated from a recently completed high-definition airborne\nGeotech AirMt magnetotelluric survey along with geological and geochemical\ntargets.\n\n\nThis agreement with HoneyBadger is part of Entree's strategy to explore\nfor large porphyry copper deposits, using the knowledge and experience gained\nfrom working on our projects in Mongolia and North America. The Company's\ncurrent agreements with Empirical Discovery LLC have resulted in the discovery\nof porphyry copper mineralization near Lordsburg, New Mexico, in a mining\ndistrict previously known only for vein-style copper-gold mineralization.\n\n\nABOUT ENTREE GOLD INC.\n\n\nEntree Gold Inc. is a Canadian mineral exploration company focused on the\nworldwide exploration and development of gold and copper prospects. In North\nAmerica, the Company is exploring for porphyry-related copper systems in\nArizona and New Mexico un...

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