GlobeNewswire·Aug 11, 2026, 5:00 PM ET

Entrée Resources Announces Second Quarter 2026 Results

ERLFF

Entrée Resources Ltd. filed interim financial results for the second quarter ended June 30, 2026, with all figures in U.S. dollars.
The Company's primary objective is transferring Shivee Tolgoi & Javkhlant mining licences from its Mongolian subsidiary to Oyu Tolgoi LLC (OTLLC) to enable Lift 1 Panel 1 development.
Entrée submitted a non-binding proposal on March 25, 2026, to the Mongolian Government Working Group offering a negotiated royalty in lieu of the State's 34% equity interest.
On June 18, 2026, the Company resubmitted valuation calculations to the Mongolian Tax Authority (MTA) but was notified on June 26, 2026, that documents were non-compliant, prompting a formal complaint.
Rio Tinto disclosed on July 29, 2026, that the Mongolian Government agreed to commence work on the licence transfer for Panel 1 in the first half of 2026.
The Entrée/OTLLJV Management Committee approved a 2026 in-fill diamond drilling program of ~9,136 metres at Hugo North Extension, plus an additional ~5,039 metres targeting the North Bound Fault.
OTLLC completed an updated resource model for Hugo North Lifts 1 & 2 in H1 2026, with a new mine plan expected in H2 2026 & an updated Technical Report targeted for Q1 2027.
Oyu Tolgoi Lift 1 production is on track to reach ~500,000 tonnes of copper annually from 2028 to 2036, while Panel 0 reached full production in July 2026.
For the three & six months ended June 30, 2026, the Company reported an operating loss of $0.6 million & $1.3 million, respectively, with a cash balance of $3.1 million.
Corporate leadership changes include the June 18, 2026, election of Richard Williams to the Board, the retirement of Stephen Scott as CEO, the appointment of Chris Adams as CEO, & the addition of Sarah Strunk to the Board.