GlobeNewswire·Nov 5, 2026, 5:00 PM ET

Entrée Resources Announces Third Quarter 2026 Results

ERLFF

Entrée Resources Ltd. filed its interim financial results for the third quarter ended September 30, 2026, with all figures in U.S. dollars unless stated otherwise.
The Company is negotiating with the Mongolian Government Working Group regarding State participation in the Shivee Tolgoi & Javkhlant mining licences, aiming to resolve issues under Parliamentary Resolution No. 120.
A non-binding proposal submitted on March 25, 2026, suggests transferring licences to Oyu Tolgoi LLC (OTLLC) in exchange for a negotiated royalty instead of a 34% State equity interest.
Effective October 2, 2026, the Minister of Justice & Internal Affairs was appointed to lead the Government Working Group, with discussions expected to commence shortly.
Licence transfer from Entrée LLC to OTLLC is required under the Oyu Tolgoi Investment Agreement to proceed with Lift 1 Panel 1 development.
The Mongolian Tax Authority advised that documents submitted for licence valuation are incomplete, preventing the issuance of tax payment certificates needed for licence registration.
On November 4, 2026, the Company closed a non-brokered private placement of 12,485,300 units at C$2.90 per unit, raising C$36,207,370, with a portion invested by a Tether group affiliate.
Rio Tinto confirmed in June 2026 that the Mongolian Government agreed to commence work on the licence transfer for Panel 1.
Exploration drilling at the Hugo North Extension, Ulaan Khud South, & Southwest Heruga targets during Q3 2026 did not intersect significant copper mineralization, with final assay results pending.
OTLLC completed an updated resource model for Hugo North Lifts 1 & 2 in H1 2026, with an updated mine plan expected in H2 2026 & a Technical Report targeting completion in Q1 2027.
Oyu Tolgoi copper production increased 29% year-to-date in Q3 2026, operating at a ~450,000-tonne annualized rate, with ramp-up on track for 500,000 tonnes annually from 2028 to 2036.
Corporate operating loss was $1.0 million for the three months & $2.3 million for the nine months ended September 30, 2026.
Cash balance as of September 30, 2026, was $2.5 million, with a working capital balance of $2.5 million.
Chris Adams was appointed President & CEO following the retirement of Stephen Scott, while Richard Williams & Sarah Strunk were appointed as independent directors in 2026.