Entrée Enters Into Investor Relations Agreement
May 24, 2005
Vancouver, B.C., Tuesday, May 24, 2005 - Entrée Gold Inc. (TSX-V: ETG – “Entrée”) announces that it has entered into an Investor Relations Agreement dated May 24, 2005 with Martin Robert Griesdorf, in which Mr. Griesdorf has agreed to perform investor relations support for Entrée on an as-needed basis in the United States. The agreement is effective for a period of 12 months from May 24, 2005. Either party may terminate the agreement at any time.
In consideration for the services to be provided by Mr. Griesdorf, Entrée has agreed to issue to Mr. Griesdorf 75,000 share purchase options pursuant to its Stock Option Plan, at an exercise price of $1.48 per share exercisable for a maximum term of 5 years. The options will be subject to vesting restrictions in accordance with the policies of the TSX Venture Exchange.
ABOUT ENTRÉE GOLD INC.
Entrée Gold Inc. (www.entreegold.com) is an exploration stage junior resource company engaged in the exploration of gold and copper prospects. The Company is a large landholder in Mongolia"s south Gobi Desert, near the Chinese border. Entrée maintains 100% royalty-free interest in the 179,590 hectare Lookout Hill (Shivee Tolgoi) property which completely surrounds Ivanhoe Mines Ltd."s (Ivanhoe"s) 8,500 hectare Turquoise Hill (Oyu Tolgoi) holdings. Ivanhoe has an earn-in agreement with Entrée whereby Ivanhoe can earn an interest in an area covering approximately 22% (approximately 40,000 hectares) of Entrée"s Lookout Hill property. Ivanhoe commenced drilling on the potential northerly extension of the Hugo Dummett Deposit onto Lookout Hill in February 2005. The Company trades on the TSX Venture Exchange under the symbol ";ETG".
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.