ENTREE RESOURCES LTD. - ERLFF STOCK NEWS

Entrée Resources Ltd. responds to comments made by joint venture partner Oyu Tolgoi LLC and Rio Tinto regarding negotiations to amend or restructure their joint venture agreement. The parties are nearing the close of negotiations and finalizing the agreement. However, key items still need to be resolved, including the potential acquisition of 34% of Entrée's economic interest by the Government of Mongolia. Further updates will be provided as negotiations progress.

Entrée Resources Ltd. (OTCQB: ERLFF) has filed its annual operational and financial results for 2022, reporting an operating loss of $3.6 million compared to $3.0 million in 2021. The company's cash balance stood at $6.4 million. Key highlights include the commencement of underground production at the Oyu Tolgoi project in Mongolia, expected to become the fourth largest copper mine by 2030. However, ongoing arbitration proceedings related to the Entrée/Oyu Tolgoi joint venture and the company’s exclusion from key investment agreements may pose challenges. The completion of critical shafts is delayed, now expected in the first half of 2024.

Entrée Resources Ltd. (OTCQB: ERLFF) released its interim financial results for Q3 2022, highlighting ongoing developments at the Oyu Tolgoi project in Mongolia. The Company reported an operating loss of $0.5 million for Q3 2022, with a cash balance of $7.1 million as of September 30, 2022. Notable updates include progress on underground construction, with sustainable production from Panel 0 expected in Q1 2023, despite a roughly 15-month delay in commissioning Shafts 3 and 4. Ongoing discussions with government stakeholders aim to resolve issues related to Entrée's exclusion from the Oyu Tolgoi Investment Agreement.

Entrée Resources Ltd. (OTCQB: ERLFF) released its Q2 2022 financial results, reporting an operating loss of $0.7 million and a cash balance of $7.7 million as of June 30, 2022. The underground development at the Oyu Tolgoi project in Mongolia progressed with significant milestones, including early blasting at Panel 0. However, total expected underground development capital increased from $6.75 billion to $7.06 billion due to COVID-19 costs and other factors. The company is engaged in binding arbitration regarding the Entrée/Oyu Tolgoi Joint Venture Agreement.

Entrée Resources Ltd. (OTCQB: ERLFF) held its annual general meeting on June 16, 2022, where shareholders approved all proposed resolutions, including setting the number of directors at six. The election results showed strong support for the board, with voting percentages ranging from 97.89% to 98.51%. Additionally, Davidson & Company LLP was reappointed as the company's auditors. Entrée has a significant joint venture interest in the Oyu Tolgoi copper-gold project in Mongolia, with major shareholders including Royalty North Partners and Rio Tinto.

Entrée Resources Ltd. (OTCQB: ERLFF) has launched binding arbitration proceedings to enforce provisions of its Earn-in Agreement and Joint Venture Agreement with Turquoise Hill Resources Ltd. The action follows unsuccessful negotiations with Rio Tinto and Turquoise Hill for amendments to the agreements. The arbitration, initiated in Vancouver, aims to confirm the transfer of certain mining licenses to OTLLC, the joint venture manager. The company will provide updates as the arbitration progresses.

Entrée Resources Ltd. has filed its Notice of Meeting and Management Information Circular for the Annual General Meeting scheduled for June 16, 2022. Retiring directors Mark Bailey, Anna El-Erian, and James Harris will be replaced by nominees Teresa Conway and Paula Rogers, joining the existing board. Conway has extensive experience in North American energy, while Rogers has a strong background in mining finance and corporate governance. Shareholders can vote and ask questions during the meeting, which will be conducted via audio conference.