Entrée Resources Provides Update on Entrée/Oyu Tolgoi Joint Venture License Matters

Core Viewpoint - Entrée Resources Ltd. is actively engaged in negotiations and oversight related to its joint venture licenses in Mongolia, particularly concerning the Oyu Tolgoi project, amid governmental investigations and restructuring efforts [1][2][3][4]. Group 1: Parliamentary Oversight - The Mongolian Parliament established a Temporary Oversight Committee on July 2, 2025, to investigate the protection of national interests and benefits from the Oyu Tolgoi deposits [2]. - The Committee conducted a three-day public hearing in December 2025, summoning around 300 witnesses, including former government officials and representatives from Rio Tinto and OT LLC [3]. - On December 19, 2025, the Committee reported its findings and submitted a draft resolution to Parliament for further consideration [3]. Group 2: Government Negotiations - A Government Working Group was formed on August 22, 2025, to negotiate the State's interest in the JV Licenses, with the Company officially notified on September 18, 2025 [4]. - A preliminary meeting between the Company and the Government Working Group took place on December 10, 2025, with negotiations expected to commence shortly [4]. - OT LLC holds an 80% (or 70% depending on mineralization depth) economic interest in the JV Licenses and has exclusive rights for infrastructure construction and mining operations [4]. Group 3: Legal Proceedings - In Q3 2025, Entrée LLC filed a claim with the Administrative Court of Mongolia to review the valuation of the JV Licenses, which is necessary for the transfer of licenses to OT LLC [5]. - The court hearing regarding this claim is anticipated to be scheduled soon [5]. Group 4: Company Overview - Entrée Resources Ltd. is a Canadian mining company with a carried joint venture interest in the Oyu Tolgoi project, holding a 20% or 30% interest depending on mineralization depth [6]. - Major shareholders include Royal Gold, Inc. and Rio Tinto, holding approximately 24% and 16% of the Company's shares, respectively [6].