Entrée Resources Advances Joint Venture Negotiations and Exploration Efforts
Entrée Resources Ltd., a Vancouver-based company, provided an update on April 9, 2026, regarding the transfer of the Shivee Tolgoi and Javkhlant mining licenses to Oyu Tolgoi LLC, as well as drill and regional exploration results from their joint venture partner, according to GlobeNewswire PE. The company is focusing on this transfer to enable underground development work on the Shivee Tolgoi license area, specifically for Lift 1 Panel 1.
JV Licenses Update
On March 25, 2026, Entrée Resources delivered a non-binding proposal to the Minister of Industry and Mineral Resources of Mongolia, who leads the Government Working Group, outlining the transfer of the JV Licenses as required under the Oyu Tolgoi Investment Agreement and the Entrée/Oyu Tolgoi JV Agreement. The proposal includes payment of a negotiated royalty on the gross sales value of the company’s concentrate, in lieu of the State holding a 34% equity participant interest, as per the Minerals Law of Mongolia. Following the resignation of Prime Minister Zandanshatar on March 31, 2026, N. Uchral was sworn in as the 35th Prime Minister, and on April 3, 2026, he introduced his new cabinet, reappointing G. Damdinnyam as Minister of Industry and Mineral Resources. As widely known, the Oyu Tolgoi project is a significant copper and gold mining operation in Mongolia involving major stakeholders like Rio Tinto.
Drill and Regional Exploration Results
Entrée Resources reported analytical results from one surface diamond drill hole and four underground diamond drill holes, part of the 2024 and 2025 in-fill drilling programs at the Hugo North Extension deposit on the Entrée/Oyu Tolgoi JV Property in Mongolia. Additionally, results from nine diamond drill holes from the 2025 regional drilling campaign were provided, testing several targets on the Shivee Tolgoi and Javkhlant mining licenses. All drilling work was conducted by Oyu Tolgoi LLC, the joint venture partner, according to GlobeNewswire PE. The company will continue to monitor developments related to the government negotiations and provide further updates as needed.
Commitment to Collaboration
Entrée Resources remains committed to working with the Government of Mongolia, Rio Tinto, and Oyu Tolgoi LLC to advance the Oyu Tolgoi project’s potential, in accordance with Mongolia’s applicable laws, as outlined in the update. This reflects ongoing efforts in joint venture operations, according to GlobeNewswire PE.
