Entree Gold Updates Ann Mason and Blue Hill Surface

Entree Gold Updates Ann Mason and Blue Hill Surface Exploration,
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/13/12 -- Entree
("Entree" or the "Company") has completed soil and rock geochemical
sampling and geological mapping on its Ann Mason Project, Nevada
("Ann Mason" or the "Project"). This program extends previous surface
work done in close proximity to the Ann Mason and Blue Hill deposits
and tightens the spacing between historical sample locations. More
importantly, additional copper targets for possible future drill
testing have been identified. Several oxide copper targets to the
northwest of Blue Hill and one identified midway between Blue Hill
and Ann Mason could provide feed for a potential early heap leach and
solvent extraction/electrowinning ("SX/EW") operation while the Ann
Mason sulphide deposit is undergoing pre-stripping.   
Greg Crowe, President and CEO commented, "Our work to date at Ann
Mason and Blue Hill has greatly enhanced these two large
copper-bearing sulphide and oxide systems. In the immediate area of
Ann Mason, mineralization remains open in several directions and to
depth. In particular, drilling to the north, west and southwest could
result in a significant increase in mineralized material. This could
have the added benefits of potentially decreasing the strip,
increasing the mine life and improving the already robust, PEA
defined economics of the deposit. Additionally, the property covers
over eight thousand hectares and there are several excellent untested
exploration targets. The results of both drilling proximal to the Ann
Mason deposit and property-wide exploration may impact site layout
and infrastructure and provide a positive boost to the economics as
we advance Ann Mason to pre-feasibility." 
Exploration Targets  
The recent work by Entree includes soil and rock geochemical sampling
and geological mapping over areas to the north of Blue Hill and to
the south of Ann Mason, covering approximately 750 hectares. The soil
geochemistry (619 samples) extends and in-fills sampling done by
previous operators between 2006 and 2010. A total of 186 selected
rock samples were collected to characterize alteration and
mineralization. The work resulted in the definition of three areas
for future exploration: Ann Mason South, Blackjack Oxide, and the
area between the Ann Mason and Blue Hill deposits. 
The Ann Mason South targets are located to the south and southwest of
the Ann Mason deposit. Soil sampling results outline four greater
than 200 parts per million ("ppm") copper anomalies in an area that
is 1.2 kilometres by 2.3 kilometres. Of the 74 rock samples collected
here, 35 returned assays greater than 1% copper. Copper in these
samples occurs as both oxide and sulphide mineralization in quartz
veins, fractures and faults that cut quartz monzonite porphyry
("QMP") dykes and adjacent granodiorite, which is a geological
environment similar to the Ann Mason deposit. Wide-spaced and mainly
shallow drilling by previous operators has not adequately tested any
of the soil anomalies. 
The soil sampling also identified a north-trending, 300- by 900-metre
copper anomaly that is in part coincident with a low conductivity,
induced polarization ("IP") feature underlying the western portion of
the Ann Mason deposit. The combination of the two features defines a
north-trending, 300-metre-wide zone that hosts copper mineralization
encountered in drill holes EG-AM-12-015, 020, 021, 026, 027, 029 and
030. The conductive zone extends approximately 500 metres north of
drill hole EG-AM-12-029 and represents a possible northward extension
of part of the Ann Mason deposit that has not been tested by
Sampling at the Blackjack Oxide Area, 2 to 3 kilometres north of the
Blue Hill deposit, returned a number of copper soil anomalies. These
correspond with areas of historic mine workings, pits and trenches
over several areas of copper-oxide mineralization and alteration
within Jurassic quartz monzonite, the main host for mineralization at
both Ann Mason and Blue Hill. Mineralization on surface consists of
copper oxides, sulphates and silicates in veins, breccias, and
altered quartz monzonite, at the eastern end of the untested, 1.2 by
3 kilometre Blackjack induced polarization IP chargeability anomaly.
Entree collected 112 grab samples and 39 of these returned copper
values in excess of 1% copper. The Blackjack IP anomaly and the areas
of surface oxide mineralization require further surface evaluation
and drill testing. 
The third exploration target is located between Ann Mason and Blue
Hill. This area is underlain by a moderate to strong,
northwest-trending IP response and has seen only wide-spaced, mostly
shallow drilling by previous operators. Mineralization at the Ann
Mason and Blue Hill deposits occurs in distinct fault blocks
separated by the low angle Blue Hill Fault. Hole EG-BH-11-031 is the
only deep hole located in this area - it averaged 0.28% oxide copper
over 13.8 metres, starting at 22.2 metres depth. A deeper sulphide
zone (406 to 448 metres) returned 0.31% copper within a broader zone
(406 to 566 metres) averaging 0.16% copper (refer to the Material
Change Report dated November 2, 2012). 
The target areas are rated as a high priority for drilling to
determine if additional near-surface oxide and/or sulphide
mineralization is present. Adding to the Ann Mason mineral resource
could reduce the current strip ratio in the Ann Mason Preliminary
Economic Assessment mine design (news release October 24, 2012) and
help to enhance project economics. Positive evaluation of the oxide
copper targets might provide additional material for a potential heap
leach and SX/EW operation at Blue Hill. 
Rock samples were submitted to Skyline Assayers & Laboratories
("Skyline"), Sparks, Nevada for 24 element, multi-acid digestion,
TE-4 ICP/OES multi-element analysis. Samples returning greater than
10,000 ppm copper were rerun using ICP/OES copper assay. 
Entree soil samples were also submitted to Skyline for 49 element,
Aqua Regia digestion, TE-3 ICP/MS analysis. 
James R. Foster, P. Geo., Senior Geologist with Entree, a Qualified
Person as defined by NI 43-101, approved this news release.  
Entree Gold Inc. is a Canadian mineral exploration company balancing
opportunity and risk with key assets in Mongolia and Nevada. As a
joint venture partner with a carried interest on a portion of the Oyu
Tolgoi mining complex in Mongolia, Entree Gold has a unique
opportunity to participate in one of the world's largest copper-gold
projects managed by one of the premier mining companies - Rio Tinto.
Oyu Tolgoi, with its series of deposits containing copper, gold and
molybdenum, has been under exploration and development since the late
1990s. Phase 1 is on the verge of production, and Entree Gold could
see first development production from the joint venture ground as
early as 2015.  
In addition to being on the path to production in Mongolia, Entree
Gold has been advancing its Ann Mason Project in one of the world's
most favourable mining jurisdictions, Nevada. The Ann Mason Project
hosts a sizeable copper and molybdenum porphyry deposit within the
rejuvenated Yerington copper camp. Based on the PEA(i) announced in
October, 2012, the Ann Mason Project is expected to yield a base case
pre-tax, 7.5% net present value of US$1.11 billion and an internal
rate of return of 14.8%, using assumed copper, molybdenum, gold and
silver prices of US$3.00/lb, US$13.50/lb, US$1,200/oz and US$22/oz. 
Rio Tinto and Turquoise Hill Resources (formerly Ivanhoe Mines) are
major shareholders of Entree, holding approximately 13% and 11% of
issued and outstanding shares, respectively. Rio Tinto, through its
majority ownership of Turquoise Hill Resources, beneficially owns
23.6% of Entree's issued and outstanding shares. 
(i) Readers are cautioned that the PEA on the Ann Mason deposit is
preliminary in nature and includes inferred mineral resources that
are considered too speculative geologically to have the economic
considerations applied to them that would enable them to be
categorized as mineral reserves, and there is no certainty that the
PEA will be realized. Mineral resources that are not mineral reserves
do not have demonstrated economic viability. 
This News Release contains forward-looking statements and
forward-looking information (together, "forward-looking statements")
within the meaning of applicable securities laws and the United
States Private Securities Litigation Reform Act of 1995, with respect
to the potential impact of future exploration results on the Ann
Mason mine design and economics, potential size of a mineralized
zone, potential expansion of mineralization, potential type(s) of
mining operation, amount or timing of proposed production figures,
plans for future exploration and/or development programs and budgets,
anticipated business activities, corporate strategies, uses of funds
and future financial performance. In certain cases, forward-looking
statements can be identified by the use of words such as "plans",
"expects" or "does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates", or "does not
anticipate" or "believes" or variations of such words and phrases or
statements that certain actions, events or results "may", "could",
"would", "might" or "will be taken", "occur" or "be achieved". While
Entree has based these forward-looking statements on its expectations
about future events as at the date that such statements were
prepared, the statements are not a guarantee of Entree's future
performance and are subject to risks, uncertainties, assumptions and
other factors which could cause actual results to differ materially
from future results expressed or implied by such forward-looking
statements. Such factors and assumptions include, amongst others,
that the size, grade and continuity of deposits and resource and
reserve estimates have been interpreted correctly from exploration
results; that the results of preliminary test work are indicative of
what the results of future test work will be; that the prices of
copper, gold, silver and molybdenum and foreign exchange rates will
remain relatively stable; the effects of general economic conditions,
including inflation; future actions by Rio Tinto, Turquoise Hill
Resources, joint venture partners and government authorities
including the Government of Mongolia; the availability of capital;
that applicable legislation, including legislation with respect to
taxation, will not materially change; uncertainties associated with
legal proceedings and negotiations; and misjudgements in the course
of preparing forward-looking statements.  
In addition, there are also known and unknown risk factors which may
cause the actual results, performances or achievements of Entree to
be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements.
Such factors include, among others, risks related to international
operations, including legal and political risk in Mongolia; recent
global financial conditions; actual results of current exploration
activities; changes in project parametres as plans continue to be
refined; inability to upgrade inferred mineral resources to indicated
or measured mineral resources; inability to convert mineral resources
to mineral reserves; conclusions of economic evaluations; future
prices of copper, gold, silver and molybdenum; possible variations in
ore reserves, grade recovery and rates; failure of plant, equipment
or processes to operate as anticipated; accidents, labour disputes
and other risks of the mining industry; delays in obtaining
government approvals, permits or licences or financing or in the
completion of development or construction activities; environmental
risks; title disputes; limitations on insurance coverage; as well as
those factors described in the Company's Annual Information Form for
the financial year ended December 31, 2011, dated March 29, 2012 and
the Company's most recent Management's Discussion and Analysis filed
with the Canadian Securities Administrators and available at
www.sedar.com. Although the Company has attempted to identify
important factors that could cause actual actions, events or results
to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or
results not to be as anticipated, estimated or intended. There can be
no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking statements. The
Company is under no obligation to update or alter any forward-looking
statements except as required under applicable securities laws.
Entree Gold Inc.
Mona Forster
Executive Vice President
604-687-4777 or Toll Free: 866-368-7330
604-687-4770 (FAX)
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