Entrée Gold Reports on Second Quarter 2013

August 7, 2013

Vancouver, B.C., August 7, 2013 – Entrée Gold Inc. (TSX:ETG; NYSE MKT:EGI; Frankfurt:EKA - "Entrée" or the "Company") has today filed its interim operational and financial results for the quarter ended June 30, 2013.

Greg Crowe, President and CEO commented, "In the second quarter, we continued to execute our strategy of advancing the Company’s key assets.  In the US, we made additional progress on our Ann Mason Project in Nevada, refining the project’s potential and scope.  We also remained focused on furthering our interests in Mongolia and engaging in discussions with Oyu Tolgoi stakeholders regarding the joint venture’s mining licences.  Given the importance of Oyu Tolgoi, we are hopeful that matters will be resolved satisfactorily.  Financially, we are continuing to ensure that all of our activities are done in a measured, cash conservative manner.  With approximately $52 million of cash, we are well capitalized and in an excellent financial position from which to pursue our strategic goals.”

Highlights for the quarter ended June 30, 2013 and beyond include:


Ann Mason, Nevada

The Ann Mason Project is located in the Yerington District of Nevada and includes the Ann Mason copper-molybdenum deposit and the Blue Hill copper deposit.  The Project also includes several other high-priority targets which warrant further exploration.


Oyu Tolgoi Project Update

Corporate Highlights

For the three months ended June 30, 2013, net loss was $2,275,617 ($0.02 per share) compared to $3,244,705 ($0.03 per share) in the three months ended June 30, 2012. For the six months ended June 30, 2013, net loss was $7,367,461 ($0.05 per share) compared to $8,319,537 ($0.06 per share) in the six months ended June 30, 2012. During the three months ended June 30, 2013, Entrée incurred lower operating expenditures, due to a combination of lower exploration expenses and foreign exchange gains, relative to the three months ended June 30, 2012. While lower exploration expenditures occurred in all regions, the decreases were primarily related to the Ann Mason Project.

Mr. Robert Cinits, who joined Entrée in July 2011, was appointed Vice-President, Technical Services in April 2013.

At the Company’s Annual General Meeting of shareholders (“AGM”) held on June 27, 2013, shareholders confirmed an alteration to the Company’s Articles to add advance notice provisions for the purpose of providing shareholders, directors and management of Entrée with a clear framework for nominating directors.   

Following the AGM, the Rt. Honourable Lord Howard of Lympne was appointed non-executive Chairman of the Company’s Board of Directors.  As Chairman, he succeeds James Harris, who remains a member of the Board and assumes the role of non-executive Deputy Chairman.

  As at June 30, 2013
  As at June 30, 2012

Working capital (1)
Total assets
Total long term liabilities

(1) Working Capital is defined as Current Assets less Current Liabilities

The Company’s Interim Financial Statements and accompanying management’s discussion and analysis for the quarter ended June 30, 2013 and its Annual Information Form for the year ended December 31, 2012 are available on the Company website, on SEDAR at and on EDGAR at  Unless otherwise noted, all figures in this news release are reported in United States dollars. 

Robert Cann, P.Geo., Entrée’s Vice-President, Exploration, a Qualified Person as defined by National Instrument 43-101, has approved the technical information in this release.  


Entrée Gold Inc. is a Canadian mineral exploration company balancing opportunity and risk with key assets in Mongolia and Nevada.  As a joint venture partner with a carried interest on a portion of the Oyu Tolgoi mining project in Mongolia, Entrée has a unique opportunity to participate in one of the world’s largest copper-gold projects managed by one of the premier mining companies – Rio Tinto.  Oyu Tolgoi, with its series of deposits containing copper, gold and molybdenum, has been under exploration and development since the late 1990s. 

Additionally, Entrée has been advancing its Ann Mason Project in one of the world’s most favourable mining jurisdictions, Nevada.  The Ann Mason Project hosts the Ann Mason copper-molybdenum deposit as well as the Blue Hill copper deposit within the rejuvenated Yerington copper camp.   

Sandstorm Gold, Rio Tinto and Turquoise Hill Resources are major shareholders of Entrée, holding approximately 12%, 11% and 9% of issued and outstanding shares, respectively.

Monica Hamm
Manager, Investor Relations
Entrée Gold Inc.
Tel: 604-687-4777
Fax: 604-687-4770
Toll Free: 866-368-7330
E-mail: mhamm@entré

This News Release contains forward-looking statements and forward-looking information (together, “forward-looking statements”) within the meaning of applicable securities laws and the United States Private Securities Litigation Reform Act of 1995 with respect to the potential impact of future exploration results on the Ann Mason mine design and economics; potential size of a mineralized zone; potential expansion of mineralization; the availability of Oyu Tolgoi project financing; development of the Oyu Tolgoi underground mine; potential actions by the Government of Mongolia with respect to the Shivee Tolgoi and Javhlant mining licences; the resolution of outstanding issues between the Government of Mongolia, Entrée, Rio Tinto and Turquoise Hill Resources; Parliamentary approval of Oyu Tolgoi project financing; plans for future exploration and/or development programs and budgets; anticipated business activities; corporate strategies; uses of funds; and future financial performance.  While the Company has based these forward-looking statements on its expectations about future events as at the date that such statements were prepared, the statements are not a guarantee of Entrée’s future performance and are subject to risks, uncertainties, assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements and information. Such factors and assumptions include, amongst others, the effects of general economic conditions; actions by Rio Tinto, Turquoise Hill and/or Oyu Tolgoi LLC and by government authorities including the Government of Mongolia; the availability of project financing; that applicable legislation, including legislation with respect to mining, foreign investment, royalties and taxation, will not materially change; uncertainties associated with legal proceedings and negotiations; and misjudgements in the course of preparing forward-looking statements.  In addition, there are also known and unknown risk factors which may cause the actual results, performances or achievements of Entrée to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements and information. Such factors include, among others, risks related to international operations, including legal and political risk in Mongolia; risks associated with changes in the attitudes of the Mongolian government; risks associated with the conduct of joint ventures; recent global financial conditions; actual results of current exploration activities; changes in project parameters as plans continue to be refined; inability to upgrade inferred mineral resources to indicated or measured mineral resources; inability to convert mineral resources to mineral reserves; conclusions of economic evaluations; future prices of copper, gold, silver and molybdenum; possible variations in ore reserves, grade recovery and rates; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes and other risks of the mining industry; delays in obtaining government approvals, permits or licences or financing or in the completion of development or construction activities; environmental risks; title disputes; limitations on insurance coverage; as well as those factors described in the Company’s Annual Information Form for the financial year ended December 31, 2012, dated March 28, 2013 filed with the Canadian Securities Administrators and available at  Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.  There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.  The Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.