Vancouver, B.C., November 5, 2019 – Entrée Resources Ltd. (TSX: ETG; OTCQB: ERLFF – the “Company” or “Entrée”) announces that Turquoise Hill Resources Ltd. (“Turquoise Hill”) provided an update on November 4, 2019 that the construction of Shaft 2 on the Oyu Tolgoi underground project is complete and is in the final stages of commissioning.
As noted by Turquoise Hill, Shaft 2 is a 10 metre diameter shaft that is sunk approximately 1.3 kilometres below the surface. The completion of Shaft 2 is a significant milestone achieved, as it will allow for up to 300 people in the service hoist and lift up to 60 tonne skips in the production hoist, both of which will accelerate the development of the underground Oyu Tolgoi copper-gold mine.
Stephen Scott, President and CEO of Entrée commented, “We are excited to be able to report achievement of this extremely important milestone for the Oyu Tolgoi project. Turquoise Hill has also reported that it expects mine planning decisions to fine tune the Oyu Tolgoi underground mine design will be completed by April 2020 and we look forward to updating the market on that as soon as further information becomes available”.
ABOUT ENTRÉE RESOURCES LTD.
Entrée Resources Ltd. is a well-funded Canadian mining 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. Entrée has a 20% or 30% carried participating interest in the Entrée/Oyu Tolgoi joint venture, depending on the depth of mineralization. Sandstorm Gold Ltd., Rio Tinto and Turquoise Hill are major shareholders of Entrée, holding approximately 19%, 9% and 8% of the shares of the Company, respectively. More information about Entrée can be found at www.EntreeResourcesLtd.com