Entree Expands Coal Exploration
Vancouver, B.C.,
September 18, 2008 -
Entr�e Gold Inc. (TSX:ETG; AMEX:EGI; Frankfurt:EKA - "Entr�e" or the
"Company") announces that it has increased the exploration budget for
the 100%-owned portion of its Lookout Hill property in Mongolia by $2,000,000
to further evaluate its recent coal discovery, Nomkhon Bohr.
The Nomkhon Bohr
coal target is hosted by a moderate to steeply dipping folded sequence of
continental Permian sediments known to host other coal deposits in Mongolia,
such as QGX's Baruun Naran, South Gobi Energy Resources' Ovoot Tolgoi and
Energy Resources LLC's Tavan Tolgoi deposits.
Greg Crowe, CEO and
President of Entr�e, says: "The Nomkhon Bohr coal target is progressing
rapidly. Our drilling has shown that the Permian sequence exposed in the
Company's Lookout Hill Property hosts potentially significant coal horizons. We
will move forward aggressively to extend the Nomkhon Bohr target and to test
the large, unexplored, Coking Flats area to the west. We believe that these two
targets represent an excellent opportunity for Entr�e."
Thirteen diamond
drill holes, for a combined total of 1,217 metres, have been completed so far
in the Nomkhon Bohr area testing the host Permian stratigraphy. Only four of
the holes reached the target depth; the rest were lost due to bad ground
conditions, however most holes have intersected multiple coal horizons.
Drilling problems have been mostly resolved, and a second rig is being
mobilized to continue expanding this exciting discovery.
Drilling has cut
coal over a strike length of 600 metres so far. The target remains open along
strike as well as down-dip. Thrusting of the host sedimentary sequence observed
on surface may also indicate the presence of fault repetition and thickening of
the coal units at depth.
A total of 670
metres of trenching has also been completed, exposing significant thicknesses
of weathered carbonaceous sediments in areas of little exposure. These
weathered sediments have been cut at depth by Entr�e's drilling and are closely
associated to the coal horizons encountered so far.
Ground magnetics
conducted this year has identified a distinct magnetic low anomaly coincident
with the coal-bearing unit. More significantly, a large magnetic anomaly
extends several kilometeres to the west of Nomkhon Bohr (the "Coking
Flats" target), where Company geologists believe the host Permian sequence
is buried under thin Cretaceous cover. Induced Polarization test lines and a
detailed ground magnetic survey are planned on the Coking Flats target within
the next few weeks.
Robert Cann,
P.Geo., Entr�e's Vice-President, Exploration, a qualified person as defined by
NI 43-101, supervised the preparation of the technical information in this news
release.
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. Most notably, the Company is a large
landholder in Mongolia,
where it holds three exploration licenses that comprise 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 deposit and the newly discovered Heruga deposit.
The Company
continues to explore its large landholdings in Mongolia
as well as evaluating new opportunities throughout the region and elsewhere in Asia.
Entr�e plans to explore the Huaixi copper project in Zhejiang
Province in China,
under the terms of an agreement with the No. 11 Geological Brigade. In
North America, the Company is exploring for copper-molybdenum porphyry systems
in the southwest USA.
The Company is also seeking additional opportunities to utilize its expertise
in exploring for deep and/or concealed ore deposits.
Ivanhoe Mines and
Rio Tinto are major shareholders of Entr�e, holding approximately 15% and 16%
of issued and outstanding shares respectively.
FURTHER INFORMATION
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.