About
Entrée Resources Ltd. is a Canadian mineral exploration company with a unique carried joint venture interest on a significant portion of one of the world’s largest copper-gold projects – the Oyu Tolgoi project in Mongolia. The Entrée/Oyu Tolgoi Joint Venture Property includes the Hugo North Extension and Heruga copper-gold deposits, as well as a large underexplored, highly prospective land package. Rio Tinto is managing the construction of Lift 1 of the Hugo North underground block cave on both the Oyu Tolgoi mining license and the Entrée/Oyu Tolgoi Joint Venture Property. Lift 1 underground development is fully financed ($4.3 billion drawn down) and is currently in progress, with more than 2,000 workers on site. Entrée has a 30% carried interest in all mineralization identified above 560 metres elevation, and a 20% carried interest in all mineralization extracted below 560 metres elevation from the Entrée/Oyu Tolgoi Joint Venture Property. Sandstorm Gold Ltd., Rio Tinto and Turquoise Hill Resources Ltd. are major shareholders, holding approximately 14%, 10% and 8% of issued and outstanding Entrée Common Shares, respectively.
