Entr�e
Gold Announces Option Agreement in Yerington District with
Bronco Creek
Exploration
September 25, 2009
Vancouver, B.C.
- Entr�e Gold Inc. (TSX:ETG; NYSE Amex:EGI; Frankfurt:EKA � �Entr�e� or
the �Company�) announces that the Company has entered into an
agreement with Bronco Creek Exploration Inc. (�Bronco Creek�), a private
exploration company based in Arizona, to explore for and develop porphyry
copper targets in the Yerington district of western Nevada. Bronco
Creek has assembled a land package of 214 claims covering over 1,760 hectares
(4,350 acres) known as the Roulette Property. The Roulette Property
adjoins and is directly south of the Blackjack Property currently under option
with HoneyBadger Exploration Inc. (TSX.V:TUF � �HoneyBadger�).
Greg Crowe, Entr�e�s President and CEO commented, �Our agreement with
Bronco Creek on the Roulette Property represents a strategic addition to
Entr�e�s existing holdings in the area. Targets to be tested on the
Blackjack Property could extend southward onto Roulette. The Yerington
area has received limited attention since the 1980�s, when Anaconda last
mined the Yerington copper deposit. However, recent work has
demonstrated the potential of this camp to host additional sizeable
copper-gold resources. Entr�e is looking forward to working with Bronco
Creek and HoneyBadger on exploration efforts in the coming months.�
Under the terms of the agreement with Bronco Creek, Entr�e may acquire an
80% interest in the Roulette Property by incurring expenditures of
$1,000,000, making cash payments of US$140,000 and issuing 85,000 shares
within three years. The minimum expenditure required in Year 1 is
US$300,000, along with cash payments totaling US$90,000 and issuance of
72,500 shares. The agreement is subject to completion of due diligence and
regulatory approval.
Entr�e and Bronco Creek are planning an aggressive exploration program
commencing in the fourth quarter 2009. This program will test numerous
geological and geochemical targets along with anomalies defined by a recently
completed high-definition airborne AirMt magnetotelluric survey.
Foray in British
Columbia
Entr�e has reached an agreement with Taiga Consultants Ltd. to acquire the
Crystal Property, located approximately 120 kilometres west-southwest of Prince
George , BC . The Crystal Property
comprises ten contiguous claims covering almost 4,800 hectares. Entr�e
may acquire 100% interest, subject to a 1% NSR royalty, in the Crystal
Property after completing $500,000 in exploration expenditures. The agreement
is subject to completion of due diligence and regulatory approval.
Greg Crowe noted, �The Crystal Property is an
early stage molybdenum-copper prospect, but it covers a sizeable, strong
geochemical anomaly that has never been tested. As this anomaly lies in
an area of known molybdenum deposits, such as Thompson Creek�s Endako Mine,
Entr�e feels this potential acquisition represents a low cost entry into a
molybdenum-copper camp that has generated significant interest.�
The Company plans to spend $50,000 in Q4 2009 to conduct prospecting,
mapping, geochemical sampling and geophysical survey work to identify
preliminary targets.
These agreements further complement the Company�s growing portfolio of
copper-gold porphyry prospects in North America . Entr�e�s
strategy is to explore for large porphyry copper deposits, using the
knowledge and experience gained by the technical team from working on
projects in Mongolia and the Americas
.
ABOUT ENTR�E GOLD
INC.
Entr�e Gold Inc. is a Canadian mineral exploration company focused on the
worldwide exploration and development of gold and copper prospects. In North
America, the Company is exploring for porphyry-related copper systems in Arizona
and New Mexico under agreements with Empirical
Discovery LLC, in Nevada through option agreements with
HoneyBadger Exploration Inc. and Bronco Creek Exploration Inc. and in British
Columbia through the agreement with Taiga Consultants Ltd.
The Company is a large landholder in Mongolia ,
where it holds three exploration licenses comprising the 179,590 hectare
Lookout Hill property. Lookout Hill completely surrounds the
8,500-hectare Oyu Tolgoi project of Ivanhoe Mines, and hosts the Hugo North
Extension of the Hugo Dummett copper-gold deposit and the Heruga
copper-gold-molybdenum deposit.
The Company continues to explore its large landholdings in Mongolia
, including the coal discovery Nomkhon Bohr.
Entr�e is also evaluating new opportunities throughout the region and
elsewhere in Asia . Entr�e is exploring the Huaixi
copper project in Zhejiang Province in
China , under the terms of an
agreement with the No. 11 Geological Brigade.
The Company is also seeking additional opportunities to utilize its
expertise in exploring for deep and/or concealed ore deposits. With a
treasury in excess of C$40 million, the Company is well funded for future
activities.
Ivanhoe Mines and Rio Tinto are major shareholders of Entr�e, holding
approximately 15% and 16% of issued and outstanding shares respectively.
FURTHER INFORMATION
Monica Hamm - Manager, Investor Relations
Entr�e Gold Inc.
Tel: 604-687-4777
Toll Free: 866-368-7330
E-mail: mhamm@entreegold.com
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Peter Oates - Investor Relations
Entr�e Gold Inc.
Tel: 604-687-4777
Toll Free: 866-368-7330
E-mail: poates@entreegold.com
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This News Release contains forward-looking statements. Forward-looking
statements are statements which relate to future events. In some cases, you
can identify forward-looking statements by terminology such as �may�,
�should�, �expects�, �plans�, �anticipates�, �believes�, �estimates�,
�predicts�, �potential� or �continue� or the negative of these terms or other
comparable terminology. These
statements are only predictions and involve known and unknown risks,
uncertainties and other factors that may cause our or our industry�s actual
results, levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking statements.
While these
forward-looking statements, and any assumptions upon which they are based,
are made in good faith and reflect our current judgment regarding the
direction of our business, actual results will almost always vary, sometimes
materially, from any estimates, predictions, projections, assumptions or
other future performance suggested herein. Except as required by applicable
law, including the securities laws of the United States, the Company does not
intend to update any of the forward-looking statements to conform these
statements to actual results. Readers are referred to the sections entitled
�Risk Factors� in the Company�s periodic filings with the British
Columbia Securities Commission, which can be viewed at www.SEDAR.com, and with the United States Securities
and Exchange Commission, which can be viewed at www.SEC.gov.
Investor
Relations Contact:
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Entr�e
Gold Inc.
1201 - 1166 Alberni Street
Vancouver, BC
Canada V6E 3Z3
Telephone: (604) 687-4777
Facsimile: (604) 687-4770
Toll-free: 866-368-7330
info@entreegold.com
mobile.entreegold.com
(TSX: ETG)
(NYSE Amex: EGI)
(Frankfurt: EKA)
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