Entree Gold Closes C$10 Million Private Placement
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/01/13 -- Entree
Gold Inc. (TSX:ETG)(NYSE MKT:EGI)(FRANKFURT:EKA) ("Entree" or the
"Company") today closed its C$10 million private placement to
Sandstorm Gold Ltd. ("Sandstorm"). The Company issued 17,857,142
common shares (the "Shares") to Sandstorm at a price of C$0.56 per
Share. All three components of the US$55 million financing package
from Sandstorm, announced on February 15, 2013, have now been fully
The Shares are subject to a 4-month hold period. Sandstorm now holds
approximately 12.17% of the issued and outstanding common shares of
Entree (on an undiluted basis). Rio Tinto International Holdings Ltd.
did not exercise its pre-emptive rights.
Sandstorm has advised Entree that it does not have any present
intention to acquire ownership of, or control over, additional
securities of Entree. It is the intention of Sandstorm to evaluate
its investment in Entree on a continuing basis and such holdings may
be increased or decreased in the future. The address of Sandstorm for
the purposes of National Instrument 62-103 is 400 Burrard Street,
Suite 1400, Vancouver, British Columbia V6C 3A6. A copy of
Sandstorm's Early Warning Report is available on SEDAR at
ABOUT ENTREE GOLD INC.
Entree Gold Inc. is a Canadian mineral exploration company balancing
opportunity and risk with key assets in Mongolia and Nevada.
Rio Tinto and Turquoise Hill Resources (formerly Ivanhoe Mines) are
major shareholders of Entree, holding approximately 11.3% and 9.4% of
issued and outstanding shares, respectively. Rio Tinto, through its
majority ownership of Turquoise Hill Resources, beneficially owns
20.7% of Entree's issued and outstanding shares.
Entree Gold Inc.
Manager, Investor Relations
604-687-4777 or Toll Free: 866-368-7330
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