October
5, 2009
News Release
Signing Date Set for Investment
Agreement -
The Next Stage for
Development of Oyu Tolgoi and Entr�e�s Lookout Hill
Vancouver, B.C., October 5, 2009 - Entr�e Gold Inc. (TSX:ETG; NYSE
Amex:EGI; Frankfurt:EKA � �Entr�e� or the �Company�) welcomes the
announcement that the Investment Agreement between our joint venture partner,
Ivanhoe Mines (TSX: IVN; NYSE: IVN; NASDAQ: IVN � �Ivanhoe Mines�), our
largest shareholder Rio Tinto (NYSE: RTP; LSE: RIO.L; ASX: RIO.AX) and the
Mongolian government will be signed on October 6, 2009 in a state
ceremony.
Entr�e has followed
recent political events in Mongolia, which gained momentum in the final week
of August when the State Great Khural (Mongolia�s parliament) amended four
laws, including rescinding the Windfall Profits Tax effective January,
2011. Today�s announcement that a date has been set for the signing of
a definitive Investment Agreement is the culmination of years of diligent
negotiations on the part of the Mongolian government, Rio Tinto and Ivanhoe
Mines.
Greg Crowe, President and
CEO of Entr�e, stated: �Today�s announcement of a signing date for the
Investment Agreement is the clearest positive signal yet that the development
of Oyu Tolgoi will proceed.�
The Investment Agreement is a comprehensive document that establishes the
legal framework for development and operation of the massive Oyu Tolgoi
mining complex. Oyu Tolgoi is the world�s largest and richest,
undeveloped porphyry copper-gold-molybdenum deposit. Some of the
richest copper-gold mineralization lies within Entr�e�s Hugo North Extension
deposit. The highest molybdenum grades occur within Entr�e�s Heruga
deposit.
Development of Entr�e�s Hugo North Extension and Heruga deposits is
directly affected by the Investment Agreement. The Hugo North
Extension, in particular, as it contains some of the highest copper and gold
grades in the Hugo Dummett orebody, will be an important consideration in
plans for development and mining.
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, Corporate
Communications
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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