| Entree Gold increases exploration budget |
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Source: Entree Gold Inc. Date: 06 October, 2010 Entree Gold Inc. has committed a further USD1.9 million to continue its systematic work targeting prospective formations on its 100%-owned Shivee West property in Mongolia. The Shivee West exploration program reflects Entree's strategy to explore for and potentially expand its growing portfolio of gold and copper resources in Mongolia and on its other projects worldwide. In February 2010, the Company approved a budget of USD4.0 million for exploration in Shivee West. Surface work began in April. The program has been successful in furthering understanding of the geology of Shivee West, resulting in the budget expansion to continue exploring. A further four holes are planned to complete the Company's 2010 exploration program. Mr. Greg Crowe, President of Entree, has said they are “excited at the growing potential for additional discoveries both on our 100%-owned ground and on the Entree-Ivanhoe JV ground”. Surface work and/or drilling is either planned or under way on the joint venture ground located both to the north and south of the Oyu Tolgoi mining license. Rio Tinto and Ivanhoe Mines are major shareholders of Entree, holding approximately 13% and 12% of issued and outstanding shares, respectively. |