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South Gobi region of Mongolia

Entrée/Oyu Tolgoi JV Property

The Entrée/Oyu Tolgoi JV Property includes the Hugo North Extension copper-gold deposit and the Heruga copper-gold-molybdenum deposit, as well as a large underexplored, highly prospective land package. Rio Tinto is managing ramp-up of the Hugo North (including Hugo North Extension) Lift 1 underground mine on both the Oyu Tolgoi mining licence and the Entrée/Oyu Tolgoi JV Property.

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Entrée has an interest in a 0.65% FOB royalty and the right to receive certain payments in connection with the exploration for and development, extraction and recovery of iron ore product from EL6006 in the Olary region of South Australia. In addition, Entrée has the right to receive 10-20% of any royalty income received by Ecora Resources PLC (formerly Anglo Pacific Group PLC) prior to December 31, 2039 from its 0.5% NSR royalty on the Cañariaco copper project in Peru (owned by Alta Copper Corp.).
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