Vancouver, B.C., January 4, 2012 – Entrée Gold Inc. (TSX:ETG; NYSE AMEX:EGI; Frankfurt:EKA - "Entrée" or the "Company") has closed its previously announced sale of 1,150,000 shares at a price of $1.25 per share (the “Offering Price”) to the underwriters pursuant to the exercise of their over-allotment option. Rio Tinto Exploration Canada Inc. (“Rio Tinto”) exercised its pre-emptive rights in full and purchased an additional 170,455 shares at the Offering Price. Total gross proceeds from the November 30, 2011 public offering of 10,000,000 shares, the exercise of the over-allotment option and the exercise of Rio Tinto’s pre-emptive rights, are approximately $16,003,339.
The syndicate of underwriters was led by Desjardins Securities Inc. and included National Bank Financial Inc., TD Securities Inc., Knight Capital Group and Trapeze Capital Corp.
The net proceeds are expected to be used to fund ongoing exploration on the Company’s Ann Mason project in Nevada and Shivee West project in Mongolia, and for general corporate purposes. Please see the Company’s prospectus supplement dated November 23, 2011 to the Company’s short form base shelf prospectus dated November 19, 2010 filed on SEDAR at www.sedar.com for further details.