ENTREE RESOURCES LTD. - ERLFF STOCK NEWS

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.

Entrée Resources Ltd. reported its first quarter 2022 results, revealing an operating loss of $0.6 million compared to $0.5 million in Q1 2021. The company holds a carried interest in the Oyu Tolgoi project in Mongolia, where significant milestones were achieved, including advancing the underground development and commissioning of critical infrastructure. The first drawbell blast is now anticipated in H1 2027, delayed from H2 2026. The cash balance stood at $8.5 million as of March 31, 2022. The company continues to evaluate potential delays and amendments to its joint venture agreement.

Entrée Resources Ltd. has appointed Allan Moss to its Board of Directors effective immediately. With over 40 years of mining experience, particularly in block caving, Mr. Moss is expected to enhance the company's oversight of its ongoing projects. Notably, the first development production from the Entrée/Oyu Tolgoi joint venture is anticipated in H2 2023. The company holds a significant carried joint venture interest in one of the largest copper-gold projects globally. Major shareholders include Sandstorm Gold, Rio Tinto, and Turquoise Hill Resources.

Entrée Resources Ltd. (OTCQB: ERLFF) published its operational and financial results for 2021, reporting an operating loss of $3.0 million, up from $2.3 million in 2020. The company holds a 20% interest in the Oyu Tolgoi copper-gold project in Mongolia. The updated Technical Report highlights life-of-mine cash flows of $449 million from Lift 1 and $1.982 billion from Lift 2. The anticipated production timeline is affected by COVID-19 delays, now projecting first sustainable production from Panel 0 in H1 2023.

Entrée Resources Ltd. (ERLFF) announces positive developments regarding the Oyu Tolgoi underground mine. On January 24, 2022, Turquoise Hill Resources and the Mongolian government resolved key issues, establishing a renewed partnership and comprehensive funding arrangement. The Oyu Tolgoi LLC board has approved the start of underground mine production at Hugo North Lift 1 Panel 0. Turquoise Hill will conduct a $650 million equity offering and seek up to $500 million in senior supplemental debt. These developments are crucial for ensuring financial performance and production rates at Oyu Tolgoi.

Entrée Resources Ltd. (OTCQB: ERLFF) has released its interim financial results for Q3 2021. Key highlights include a 15% increase in after-tax NPV(8%) for the Hugo North Extension Lift 1 Feasibility Study, now at $131 million. However, the ongoing COVID-19 pandemic has hindered underground development at the Oyu Tolgoi project, with a forecasted 9-month delay for Shafts 3 and 4 and a notable reduction in workforce. The company's Q3 operating loss increased to $0.5 million, while cash and working capital remain at $6.7 million.

Entrée Resources has filed an amended technical report enhancing the Hugo North Extension Lift 1 Reserve Case. This revision boosts the after-tax NPV at 8% from $114 million to $131 million and increases payable copper in concentrate by 13% to 1,162,783 klbs. The cash flow before tax is up 18% to $449 million, while total cash costs before credits have decreased by 10%. The report confirms no changes to mineral reserve estimates and anticipates production to ramp up in 2022.

Entrée Resources Ltd. (OTCQB: ERLFF) reported its Q2 2021 results, showcasing a financial loss of $0.6 million, up from $0.5 million in Q2 2020. The cash balance stood at $7.4 million as of June 30, 2021. Highlights include a $114 million after-tax NPV for the Hugo North Extension Lift 1 and a $306 million after-tax NPV for Lift 2. However, ongoing COVID-19 challenges have delayed the Oyu Tolgoi underground project, impacting development and personnel availability. The company aims to amend its joint venture agreement with Oyu Tolgoi LLC to align stakeholder interests.

Entrée Resources Ltd. (OTCQB: ERLFF) filed a National Instrument 43-101 technical report on its Entrée/Oyu Tolgoi joint venture property in Mongolia, effective May 17, 2021. The report presents an updated feasibility study indicating an after-tax NPV(8%) of US$114 million for the first lift of the Hugo North Extension deposit. Additionally, a preliminary economic assessment for a second lift shows an NPV(8%) of US$306 million. The Oyu Tolgoi project is expected to be one of the world's largest copper mines by 2030, with significant exploration potential.