Entrée Gold Inc.
Entrée Gold Inc.: MICHAEL HOWARD JOINS ENTRÉE GOLD AS DEPUTY CHAIRMAN AND DIRECTOR
Entrée Gold Inc. / Miscellaneous Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- THE RT HONOURABLE MICHAEL HOWARD JOINS ENTRÉE GOLD AS DEPUTY CHAIRMAN AND DIRECTOR Vancouver, B.C., May 18, 2007 - Entrée Gold Inc. (TSX:ETG; AMEX:EGI; Frankfurt:EKA – 'Entrée' or the 'Company') is pleased to announce that The Rt Honourable Michael Howard, QC, MP has been appointed Deputy Chairman and a director of the Company. Mr Howard, the former leader of the Conservative Party in Britain and a distinguished lawyer, has filled many government posts, including Home Secretary, Secretary of State for Employment and Secretary of State for the Environment. Since leaving office he was Shadow Foreign Secretary and then Shadow Chancellor. He remains a Member of Parliament until the next election. Mr. Howard has a long-standing interest in Mongolia. He has visited the country and, most recently, joined its president in addressing a symposium held in London on investment in Mongolia. Entrée’s President, Greg Crowe, commented: 'We are delighted to welcome Michael to our Board. His years of experience on the international stage and extensive knowledge of the financial markets will be invaluable to our strategic planning and development. Michael has demonstrated a keen interest in Mongolia and in Entree and will be a key contributor as we advance our projects.' Since 2005, Mr. Howard has been appointed to a number of corporate boards and is the European Chairman of Diligence, a leading business intelligence consultancy. ABOUT ENTRÉE GOLD INC. Entrée Gold Inc. (www.entreegold.com) is a Canadian mineral exploration company focused on the exploration and development of gold and copper prospects, worldwide. 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'), and hosts the Hugo North Extension of the Hugo Dummett Deposit. Lookout Hill Earn-in Agreement and Hugo North Extension Under an 'Earn-In Agreement' announced in October 2004, Ivanhoe has the right to earn an interest in approximately 40,000 hectares of Entrée’s Lookout Hill property. Details of the Earn-In Agreement are available on Entrée’s website at www.entreegold.com and on SEDAR at www.sedar.com. The Hugo North Extension on Lookout Hill, identified through drilling conducted by Ivanhoe as part of the Earn-In Agreement, contains an indicated resource of 117 million tonnes averaging 1.8% copper and 0.61 grams per tonne (g/t) gold for a copper equivalent grade of 2.19%. The contained metal in this Indicated Resource is estimated at 4.6 billion pounds of copper and 2.3 million ounces of gold. An additional Inferred Resource for this area is estimated at 95.5 million tonnes grading 1.15% copper and 0.31 g/t gold for a copper equivalent grade of 1.35%, containing 2.4 billion pounds of copper and 950,000 ounces of gold. Both the Indicated and Inferred Resources use a 0.6% copper equivalent cut-off grade. No consideration was made for metallurgical recoveries. (See the Company news release from March 29, 2007). Rio Tinto and Ivanhoe Investment in Entrée Significant investments by Rio Tinto and Ivanhoe have contributed to Entrée’s treasury, which currently exceeds CDN$16 million. Entrée plans to use these funds to explore its wholly owned projects in Mongolia and Arizona, and to acquire and explore new projects globally. Ivanhoe and Rio Tinto are the largest shareholders of Entrée, holding approximately 15% and 9% of Entrée’s issued shares, respectively. They have the option to increase their positions to approximately 16% each, by exercising warrants at C$2.75 per share and C$3.00 per share. Rio Tinto Investment in Ivanhoe On October 18, 2006, Rio Tinto announced its plans to invest up to US$1.5 billion to acquire a 33.35% equity interest in Ivanhoe, for the purpose of funding the joint development of the Oyu Tolgoi copper-gold project in Mongolia. This is a major vote of confidence by one of the world’s pre-eminent mining companies in both the Oyu Tolgoi project and in Mongolia. Ivanhoe now has a strategic partner with sufficient capital resources to take the world’s richest porphyry copper-gold project to production. Rio Tinto has also announced that it intends to join Ivanhoe in negotiations with the Mongolian government for a long-term investment agreement. Such an agreement would provide the basis for the financing and development of Oyu Tolgoi. The Mongolian Government appointed a 'working group' in September 2006 to work with Ivanhoe for the preparation of an agreement for submission to the Mongolian government’s cabinet. Trading Entrée common shares trade on the TSX under the symbol 'ETG', on the AMEX under the symbol 'EGI' and on the Frankfurt Stock Exchange under the symbol 'EKA'. Value Relations GmbH Tel: (069) 95 92 46 – 0 Gartenstr. 46 D-60596 Frankfurt EKA@vrir.de DGAP 18.05.2007 ----------------------------------------------------------------------
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