Entrée Resources Provides JV Licenses Update and Drill and Regional Exploration Results

About this update from Entree Resources Ltd

Entrée Resources Provides JV Licenses Update and Drill and Regional Exploration Results VANCOUVER, British Columbia, April 09, 2026 (GLOBE NEWSWIRE) -- Entrée Resources Ltd. (TSX:ETG; OTCQB:ERLFF – the “Company” or “Entrée”) provides an update on matters related to the Entrée/Oyu Tolgoi joint venture (the “Entrée/Oyu Tolgoi JV”) mining licenses as well as drill and regional exploration results received from the Company’s joint venture partner Oyu Tolgoi LLC (“OT LLC”). ENTRÉE/OYU TOLGOI JV LICENSES UPDATEThe Company continues to focus its efforts on the transfer of the Shivee Tolgoi and Javkhlant mining licenses (the “JV Licenses”) from the Company’s Mongolian subsidiary Entrée LLC to OT LLC. Transfer of the JV Licenses is necessary to enable Lift 1 Panel 1 underground development work on the Shivee Tolgoi mining license area to proceed. On March 25, 2026, the Company delivered a non-binding proposal to the Minister of Industry and Mineral Resources of Mongolia as head of the Government Working Group established to negotiate the State’s interest in the area of the JV Licenses. The proposal contemplates, among other things, the transfer of the JV Licenses to OT LLC as required under the Oyu Tolgoi Investment Agreement and the Entrée/Oyu Tolgoi JV Agreement and payment of a negotiated royalty on the gross sales value of the Company’s concentrate as contemplated under the Minerals Law of Mongolia in lieu of the State being a 34% equity participant. The proposal is intended to form the basis for further discussions and negotiations with the Government of Mongolia. On March 31, 2026, following the resignation of Prime Minister Zandanshatar, N. Uchral was sworn in as the 35th Prime Minster of Mongolia. On April 3, 2026, Prime Minister Uchral introduced his new cabinet, reappointing G. Damdinnyam as the Minister of Industry and Mineral Resources. The Company will continue to monitor the situation, including any potential changes to the Government Working Group, and provide further updates as considered necessary. Entrée remains committed to working with the Government of Mongolia, Rio Tinto, and OT LLC in accordance with applicable laws of Mongolia to unlock the Oyu Tolgoi project’s full potential for the be...

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