This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ENTRÿE GOLD ANNOUNCES $7 MILLION BUDGET FOR JOINT VENTURE WORK PROGRAMS, LOOKOUT HILL, MONGOLIA

VANCOUVER, March 17 /PRNewswire-FirstCall/ - Entrée Gold Inc. (TSX: ETG) (NYSE AMEX: EGI) (Frankfurt: EKA) ("Entrée" or the "Company") announces that the Entree and Oyu Tolgoi LLC joint venture ("Entree-OTLLC Joint Venture") has budgeted US$7 million for exploration and development work on the joint venture ground ("Entree-OTLLC JV Ground") within the Lookout Hill Property, Mongolia.

The work program for 2011 includes a combination of exploration and geotechnical drilling on the Entree-OTLLC JV Ground.  The exploration team is focusing on high priority targets that could further extend the known mineralized system with a budget of $5.5 million. The $2.1 million geotechnical drilling program is related to future development of underground operations on the Hugo North Extension orebody. 

Proposed exploration work includes approximately 16,000 metres of drilling and is planned to focus on testing extensions to the Hugo North Extension and the Heruga deposits.  The Hugo North Extension deposit is open for 7 kilometres to the north along the OT Trend (to Ulaan Khud), and the Heruga deposit is open at depth, to the west, and to the south.  Additional drilling will test other geophysical targets to the south of Heruga on the Javhlant licence. 

Geotechnical drilling on the Entree-OTLLC JV Ground is planned from surface collars, to assist OTLLC in finalizing underground development plans on Hugo North.  The work program is designed to investigate a potential location for a fourth shaft ("Shaft 4"), including an area just north of the Entree-OTLLC Joint Venture property boundary and adjacent to the Hugo North Extension. 

Entrée's President & CEO, Greg Crowe, commented, "Advancement of the Oyu Tolgoi mining complex is proceeding at a fast pace, and the Entree-OTLLC JV Ground is an integral part of future planning.  This is evidenced by the focus on Shaft 4, currently planned to be sunk on the joint venture ground to access the rich Hugo North Extension as well as exploration programs designed to test the extension of the Heruga deposit ten kilometres to the south."

QUALIFIED PERSON

Robert Cann, P.Geo., Entrée's Vice-President Exploration, a Qualified Person as defined by National Instrument 43-101 ("NI 43-101"), has reviewed the technical information contained in this release.

ABOUT ENTRÉE GOLD INC.

Entrée Gold Inc. is a Canadian mineral exploration company focused on the worldwide exploration and development of copper and gold prospects. The Company's flagship Lookout Hill property in Mongolia completely surrounds the Oyu Tolgoi project of Ivanhoe Mines and the Government of Mongolia. A portion of the Lookout Hill property is subject to a joint venture with Oyu Tolgoi LLC, a subsidiary of Ivanhoe Mines and the Government of Mongolia. The joint venture property hosts the Hugo North Extension copper-gold deposit and the Heruga copper-gold-molybdenum deposit. Excellent exploration potential remains on the joint venture property for the discovery of additional mineralized zones.

In North America, the Company is exploring for porphyry-related copper systems in Nevada, Arizona and New Mexico. The primary asset is the Ann Mason property in Nevada, which hosts an inferred mineral resource estimate and considerable potential for additional targets.

The Company is also seeking additional opportunities to utilize its expertise in exploring for deep and/or concealed ore deposits. With a treasury of approximately CAD$21 million, the Company is well-funded for future activities. Rio Tinto and Ivanhoe Mines are major shareholders of Entrée, holding approximately 13% and 12% of issued and outstanding shares, respectively.



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,960.57 -123.23 -0.72%
S&P 500 1,978.34 -9.64 -0.48%
NASDAQ 4,449.5640 -22.5440 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs