GlobeNewswire·Apr 9, 2026, 7:37 AM ET

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

ERLFF

Entrée Resources Ltd. delivered a non-binding proposal to Mongolia's Minister of Industry & Mineral Resources on March 25, 2026, to transfer the Shivee Tolgoi & Javkhlant mining licenses to OT LLC in exchange for a negotiated royalty on gross sales value instead of state equity.
Following the resignation of Prime Minister Zandanshatar, N. Uchral was sworn in as the 35th Prime Minister of Mongolia on March 31, 2026, & reappointed G. Damdinnyam as Minister of Industry & Mineral Resources on April 3, 2026.
The transfer of JV licenses is required to enable Lift 1 Panel 1 underground development work on the Shivee Tolgoi license area.
Analytical results were provided for one surface & four underground diamond drill holes from the 2024 & 2025 infill programs at the Hugo North Extension (HNE) deposit.
Significant HNE underground drill hole UGD951 returned 124 metres grading 3.41% copper equivalent, including a 62-metre interval of 4.36% copper equivalent.
Significant HNE underground drill hole UGD952A returned 42.4 metres grading 1.32% copper equivalent.
Regional exploration at the Ulaan Khud target included two drill holes: EGD198 returned 308 metres grading 0.29% copper & 107 ppm molybdenum, & EGD199 returned 420 metres grading 0.30% copper & 139 ppm molybdenum.
Drill holes at the Eagle target (EGD200 & EGD201) returned low copper grades & anomalous molybdenum, leading OT LLC to conclude no further exploration is recommended for this target.
Two drill holes at the Railway target returned no significant mineralization, with OT LLC concluding no depth potential exists for the southern part of the target.
Two drill holes at the MT11 target returned no significant mineralization, with OT LLC recommending further exploration targeting deeper mineralization below 1,500 to 2,000 metres.
Gravity surveys over Shivee Tolgoi & Javkhlant licences revealed positive Bouger anomalies suggesting shallow dense subsurface features or sulfide-rich zones potentially linked to the Oyu Tolgoi porphyry system.
CSAMT surveys outlined low resistivity zones coinciding with the Heruga deposit & identified a new low-resistivity target between Heruga & MT11 for potential future evaluation.
Geological 3D modelling is underway on both licences to refine targeting, with results expected in Q2 2026.
OT LLC completed the drilling work & bears expenditures in proportion to participating interests in the Entrée/Oyu Tolgoi Joint Venture.
Analytical results for three surface & four underground HNE drill holes from the 2024 program & 19 underground drill holes from the 2025 program remain pending.