MarketWatch / marketwire: Entree Gold’s Mongolia Operations Continue to Advance

Entree Gold Inc. discusses several recent developments related to its Mongolia operations. On April 18, 2012, Ivanhoe Mines announced that it has signed a binding memorandum of agreement with its majority shareholder Rio Tinto that establishes Rio Tinto’s support for a series of funding measures expected to cover all projected capital requirements for the Oyu Tolgoi mining complex for the next four to five years. Lift 1 of the Entree-Oyu Tolgoi LLC (“OT LLC”) joint venture’s Hugo North Extension deposit is included in the first phase of development. Entree has a 20% carried interest in the Hugo North Extension deposit and the much larger Heruga deposit, both of which form part of the Oyu Tolgoi mining complex. Greg Crowe, President and CEO, commented, “The strong financial commitment that has been displayed by Rio Tinto to date and the pledge of continued financial support in developing the Oyu Tolgoi project provides Entree and its shareholders with additional assurances that this project will advance rapidly towards production and is on track to become one of the world’s largest mines. To read the full article, click hereEntree Gold’s Mongolia Operations Continue to Advance

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