Entree Gold Commences Exploration In Southwestern U.S.A.
February 19, 2008
Vancouver, B.C., February 19, 2008 - Entrée Gold Inc. (TSX:ETG; AMEX:EGI; Frankfurt:EKA – “Entrée” or the “Company”) has commenced exploration of four newly generated porphyry copper targets in southeastern Arizona and southwestern New Mexico. Properties covering approximately 30 square miles (48 square kilometres) were acquired through an agreement between Entrée and Empirical Discovery LLC (see news release – July 18, 2007). These properties overlay buried porphyry copper targets identified from regional geophysical and district scale geological data.
A geophysical crew has been mobilized to the first of the four properties to commence deep-probing induced polarization (“IP”) and controlled source audio-frequency magnetotelluric (“CSAMT”) surveys. A total of 37 line miles (60 line kilometres) of wide-spaced lines constitute the initial phase of geophysical surveys planned for the properties. Geological mapping and surface sampling are also underway.
Entrée has the option to acquire an 80% interest in any of the properties by incurring exploration expenditures totalling a minimum of US $1.9 million and issuing 300,000 shares within 5 years. If Entrée exercises its option, Empirical may elect within 90 days to retain a 20% participating interest or convert to a 2% NSR royalty, half of which may be purchased for US $2 million.
Gregory Crowe, Entrée Gold’s President and CEO commented, “In cooperation with our partner, Empirical Discovery, Entrée is beginning exploration in the most prolific copper-producing area in North America. We intend to identify and explore targets in the backyard of mining giants such as Phelps Dodge-Freeport-McMoRan, Rio Tinto and BHP, as we have already done in Mongolia.”
Quality Assurance and Quality Control
Robert Cann, P.Geo., Entrée’s Vice-President, Exploration, a qualified person as defined by NI 43-101, supervised the preparation of the information in this news release.
ABOUT ENTRÉE GOLD INC.
Entrée Gold Inc. (www.entreegold.com) is a Canadian mineral exploration company focused on the worldwide exploration and development of gold and copper prospects. Most notably, the Company is a large landholder in Mongolia, where it holds a 100% interest in mineral concessions that comprise the 179,590-hectare Lookout Hill (Shivee Tolgoi) property, which completely surrounds the 8,500-hectare Turquoise Hill (Oyu Tolgoi) project of Ivanhoe Mines Ltd. (“Ivanhoe Mines”), and hosts the Hugo North Extension of the Hugo Dummett Deposit and the newly discovered Heruga Deposit.
The Company entered into an agreement with Empirical Discovery LLC to explore for porphyry copper targets in Arizona and New Mexico. Currently, Entrée has over 18,000 acres of ground slated for exploration. Entrée also has signed an earn-in agreement on a copper project in the Zhejiang province of southeastern China.
|Monica Hamm, Investor Relations
Entrée Gold Inc.
E-mail: [email protected]
|Primoris Group |
Email: [email protected]
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