Entrée Resources Welcomes Announcement of Updated Funding Plan to Complete Oyu Tolgoi Underground Construction
(TSX: ETG) (OTCQB: ERLFF) the "Company"or "Entre")reports that on April 9, 2021, Turquoise Hill Resources Ltd. ("Turquoise Hill"), announced they have reached a binding agreement ("Heads of Agreement") with Rio Tinto on a funding plan to complete the construction of Lift 1 of the Oyu Tolgoi underground project ("Oyu Tolgoi") in Mongolia.
- (TSX: ETG) (OTCQB: ERLFF) the "Company"or "Entre")reports that on April 9, 2021, Turquoise Hill Resources Ltd. ("Turquoise Hill"), announced they have reached a binding agreement ("Heads of Agreement") with Rio Tinto on a funding plan to complete the construction of Lift 1 of the Oyu Tolgoi underground project ("Oyu Tolgoi") in Mongolia.
- The Hugo North Extension deposit on the Entre/Oyu Tolgoi JV Property is an integral part of the Lift 1 mine plan.
- Stephen Scott, Entre's President & CEO commented, "This is great news for all Oyu Tolgoi project stakeholders, including Entre.
- Ensuring remaining necessary capital funding is in place eliminates a key Oyu Tolgoi underground project execution risk.