Entrée Resources Ltd. ("Entrée" or the Company") is a well-funded Canadian mining company with a unique carried 20% or 30% joint venture interest in an integral part of the Oyu Tolgoi copper-gold mining project in Mongolia.  The joint venture property ("Entrée/Oyu Tolgoi JV Property") includes Lift 1 and Lift 2 of the Hugo North Extension deposit and the Heruga copper-gold-molybdenum deposit, along with an extensive, highly prospective exploration land package, which covers almost 15 kilometers strike length to the north and south of the current Oyu Tolgoi trend of world class copper-gold deposits.  Together, these form a significant component of the overall Oyu Tolgoi project.  The Oyu Tolgoi project is widely recognised as one of the world’s largest and most important new copper-gold mines, with more than 80% of the project’s value residing underground. Based on current known resources, the Oyu Tolgoi project could potentially be producing copper and gold for more than 95 years.  Rio Tinto is the operator of the existing open pit mine on the Oyu Tolgoi mining licence, and is currently managing the construction of the Oyu Tolgoi Lift 1 underground block cave on both the Oyu Tolgoi mining licence and the Entrée/Oyu Tolgoi JV Property.  In addition to its interest in the Entrée/Oyu Tolgoi JV Property, Entrée also holds a 100% interest in Shivee West, the western portion of the Shivee Tolgoi mining licence, which is immediately adjacent to the Oyu Tolgoi mining licence.  The Oyu Tolgoi Lift 1 underground block cave, including Hugo North Extension Lift 1, is fully financed. Initial development production from the Entrée/Oyu Tolgoi JV Property is expected to commence in ~2021.   On January 15, 2018, Entrée released the results of an updated Technical Report on its interest in the Entrée/Oyu Tolgoi JV Property. The Technical Report discusses two alternative development scenarios, an updated reserve case (2018 Reserve Case) and a Life-of-Mine Preliminary Economic Assessment (2018 PEA). 

The Technical Report will be filed on Sedar and this website within 45 days of the date of the news release.  Under the terms of the joint venture ("Entrée/Oyu Tolgoi JV") with Oyu Tolgoi LLC ("OTLLC"), only capital costs incurred on the Entrée/Oyu Tolgoi JV Property may be allocated to Entrée, and Entrée has elected to have OTLLC debt finance its share of costs including capital costs with interest accruing at OTLLC’s actual cost of capital or prime plus 2%, whichever is less, at the date of advance. Any repayment of debt comes from 90% of monthly available cash flow resulting from the sale of Entrée’s share of products.   Entrée recognizes capital costs incurred by OTLLC for processing facilities and underground infrastructure on the Oyu Tolgoi mining licence as a usage charge made to Entrée’s operating account when Entrée/Oyu Tolgoi JV mine production is actually milled. Entrée also takes its share of products in kind. Entrée’s interest therefore has many of the characteristics of a net profits interest royalty, while still providing the benefits of a producer.  Entrée also holds royalty interests in Peru and Australia.  Entrée Resources is led by an experienced team of mining, corporate finance and corporate governance professionals.  The Company’s high-quality projects, strong financial position and world class operating partners position Entrée for long term sustainable success.