Mr. Chris Adams reports

ENTREE RESOURCES ANNOUNCES NON-BROKERED PRIVATE PLACEMENT

Entree Resources Ltd. has arranged a non-brokered private placement of up to 11 million units of the company at a price of $2.90 per unit for gross proceeds of up to $31.9-million.

Each unit will consist of one common share and one common share purchase warrant of the company. Each warrant entitles the holder to purchase one additional common share of the company at a price of $3.95 for a period of three years following the date of issuance. No finders' fees will be payable in connection with the private placement.

Chris Adams, the company's president and chief executive officer, commented: "Entree's board and management are extremely pleased to announce the private placement, a significant component of which is to a new strategic investor, an affiliate of the Tether group of companies. This financing will strengthen our balance sheet as we work to progress the transfer of the Entree/Oyu Tolgoi joint venture mining licences to Oyu Tolgoi LLC and engage with the government working group and other Oyu Tolgoi project stakeholders to resolve state ownership in the area of the licences. A healthy treasury will also afford us the flexibility to conduct a re-evaluation of our corporate strategy and, in particular, to investigate the possible merits of growth through the potential addition of value-accretive, synergistic royalties, streams or other similar interests in high-quality copper and other critical metals projects to complement our world-class asset in Mongolia."

Closing of the private placement is anticipated to occur in the fourth quarter of 2026 and is subject to receipt of all necessary regulatory approvals, including acceptance by the Toronto Stock Exchange. The securities issued in connection with the private placement will be subject to a hold period of four months plus one day from the date of issuance in accordance with applicable securities laws. Insiders of the company may participate in the private placement.

The company has also entered into an agreement with the strategic investor pursuant to which, effective upon closing, the strategic investor will receive participation rights to maintain its pro rata ownership interest in subsequent equity issuances and, if it reaches and maintains an ownership threshold of 15 per cent of the company's issued and outstanding common shares, the right to nominate one individual to the company's board of directors.

The net proceeds from the private placement are expected to be used for general corporate purposes, including to finance the preparation of the company's updated technical report in respect of its interest in the Entree/Oyu Tolgoi joint venture property, increase the company's presence in Mongolia, and potentially refund a portion of the deposit and reduce the metal credits the company is required to deliver under its equity participation and financing agreement with International Royalty Corp. upon the resolution of all outstanding issues in Mongolia.

About Entree Resources Ltd.

Entree is a Canadian mining company with a unique carried joint venture interest on a significant portion of one of the world's largest copper-gold projects -- the Oyu Tolgoi project in Mongolia. Entree has a 20-per-cent or 30-per-cent carried participating interest in the Entree/Oyu Tolgoi joint venture, depending on the depth of mineralization. Royal Gold Inc. (through its wholly owned Canadian subsidiary International Royalty) and Rio Tinto are major shareholders of Entree, beneficially holding approximately 24 per cent and 16 per cent of the shares of the company, respectively.

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