Entree gold presentation_march_2012

On the Path to Production

Rio Tinto
Entrée Gold at Bingham Canyon
Oyu Tolgoi Headframe Entrée JV Discovery Hole

March 2012

Cautionary Statement

This corporate update contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the
meaning of applicable Canadian securities laws.

Forward-looking statements include, but are not limited to, the future price of gold, copper and molybdenum, the estimation of mineral reserves and resources, the realization of mineral
reserve and resource estimates, the timing of an updated resource estimate on Ann Mason, plans to prepare a Preliminary Economic assessment on Ann Mason, the timing and amount of
estimated future production, costs of production, capital expenditures, cost and timing of the development of new deposits, success of exploration activities, permitting time lines, requirements
for additional capital and government regulation of mining operations. While Entrée Gold Inc. (“Entrée” or the “Company”) has based these forward-looking statements on its expectations
about future events as at the date that such statements were prepared, the statements are not a guarantee of the Company’s future performance and are subject to risks, uncertainties,
assumptions and other factors which could cause actual results to differ materially from future results expressed or implied by such forward-looking statements. Such factors and assumptions
include, amongst others(1), the effects of general economic conditions, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedings
and negotiations and misjudgements in the course of preparing forward-looking statements. In addition, there are also known and unknown risk factors which may cause the actual results,
performances or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such
factors include, among others, risks related to international operations, including political and economic risk in Mongolia, recent global financial conditions, as well as those factors described in
the section entitled “Risk Factors” in the Company’s Annual Information Form dated March 25, 2011 filed with the Canadian Securities Administrators and available at www.sedar.com. Although
the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those anticipated in such statements. Except as required under applicable securities legislation, the Company undertakes no obligation to
publicly update or revise forward-looking statements, whether as a result of new information, future events, or otherwise. Accordingly, readers should not place undue reliance on forward-
looking statements.

The Company's exploration activities are under the supervision of Robert Cann, P.Geo., Vice President, Exploration of Entrée. Mr. Cann is a “qualified person” as defined in National Instrument
43-101- Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Cann has reviewed the technical information contained in this corporate update.

All minerals reserves and mineral resources have been calculated in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and NI 43-101. Cautionary
Note to United States Investors: United States investors are advised that while the terms “measured mineral resources”, “indicated mineral resources” “inferred mineral resources” and
“probable mineral reserves” are recognized and required by Canadian regulations, the United States Securities and Exchange Commission (SEC) does not recognize them. United States
investors are cautioned not to assume that any part or all of the mineral deposits in these categories will ever be upgraded to a higher category, or converted into mineral reserves. Inferred
mineral resources have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. Under Canadian rules, estimates of inferred mineral resources may not
form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of an inferred mineral resource exists, or is economically or
legally minable. Disclosure of “contained ounces” is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does not
constitute reserves as in place tonnage and grade without reference to unit measures. Accordingly, information contained in this corporate update containing descriptions of the Company’s
mineral properties may not be comparable to similar information made public by U.S. companies subject to the reporting and disclosure requirements under the United States federal securities
laws and the rules and regulations thereunder.

The information in this corporate update is for informational purposes only. Readers should not rely on the information for any purpose other than to gain general knowledge of Entrée. This
information is not intended to be, and should not be construed as, part of an offering or solicitation of securities.

Note 1: See the technical report titled "Lookout Hill Property Technical Report" dated June 9, 2010 prepared by AMEC Minproc Limited, a copy of which is available on SEDAR at
www.sedar.com.

Note 2: Ann Mason is estimated to contain an inferred resource of 810.4 million metric tonnes grading 0.40% copper, using a 0.30% copper cut-off. Accompanying molybdenum is estimated at
165.9 million metric tonnes at a grade of 0.01% molybdenum. Based on these figures, the Ann Mason deposit contains approximately 7.1 billion pounds of copper. At 0.20% copper cut-off, Ann
Mason is estimated to contain an inferred resource of 1410.0 million metric tonnes grading 0.34% copper. Accompanying molybdenum is estimated at 165.9 million metric tonnes at a grade of
0.01% molybdenum. Based on these figures, the Ann Mason deposit contains approximately 10.6 billion pounds of copper. See the technical report titled “NI 43-101 Compliant Technical Report
on the Ann Mason Property, Nevada, USA” with an effective date of March 11, 2011 prepared by Wardrop Engineering Inc. and Robert Cann, P.Geo., Entrée’s Vice President, Exploration, a copy
of which is available on SEDAR at www.sedar.com.

TSX:ETG | NYSE AMEX:EGI | FRANKFURT:EKA 2

Hugo North Extension and Heruga, Mongolia

Oyu Tolgoi Development
Construction 75% Complete
HNE Production in 2016*

*Per IDP-10

Ann Mason, Nevada

8.0 Billion lbs Copper Indicated

7.3 Billion lbs Copper Inferred


Corporate Strategy
Striking the balance between opportunity and risk

United States Mongolia

100% Entrée Entrée-OTLLC JV
Ann Mason Hugo North Extension
Blue Hill Heruga

Earn-In Agreement 100% Entrée
Roulette Shivee West

Cu-Mo Cu-Au-Mo

Grass Roots Exploration
United States ● Mongolia ● Australia ● Peru


Resources

Indicated Resource
1.1B CuEq* lbs
(with 0.5M oz Au)
0.6% Cut-off
Indicated Resource Hugo North Extension
8.0 B Cu lbs

Mongolia
0.2% Cut-off
or
5.4 B Cu lbs
0.3% Cut-off
Hugo North Ext'n Inferred Resource
Heruga 4.1B CuEq* lbs
(with 3M oz Au)
Nevada 0.6% Cut-off
HNE and Heruga
Ann Mason

Inferred Resource
7.3 B Cu lbs
0.2% Cut-off
or
3.5 B Cu lbs
0.3% Cut-off

*CuEq estimated using US$1.35/lb Cu, US$650/oz Au, US$10/lb Mo. Figures are NI 43-101 compliant.


Strategic Partners

Rio Tinto (13%)*
51% of Ivanhoe
Standstill expired January 2012
Commitment >US$3.7 billion

Ivanhoe Mines (11%)*
Oyu Tolgoi, Mongolia

Entrée-OT LLC JV
US$35,000,000 JV earn-in
>US$54 million to date
Entrée 20% - Ivanhoe 80% (deep)
Entrée 30% - Ivanhoe 70% (shallow)

Carried to production
*Issued & Outstanding


Shareholder Base Fully Diluted

12%

10%
56%
8% Held by top 13
7% Shareholders

4% 4%

2% 2% 2%
1% 1%
1% 1%


Board of Directors

Greg Crowe President & CEO, Director

James Harris Chairman, Director

Michael Howard Deputy Chairman, Director

Lindsay Bottomer VP Business Development, Director

Peter Meredith Director

Mark Bailey Director

Alan Edwards Director


Financial Information

Treasury (As of March 2012) ~Cdn$18 million

Issued and Outstanding 128,400,000
Options - 10,800,000 (Average price ~Cdn$1.98)

Fully Diluted 139,200,000

52 week High / Low Cdn$3.14 / $1.05

Analyst Coverage TD Newcrest
Hallgarten & Co. LLC


Growth Through Exploration & Acquisitions

• Mongolia New gold zone discovered at Shivee West in 2011
Drilling on JV property
• USA Drilling at Ann Mason, NV
Drill permits pending at Oak Grove and Lordsburg, NM


Entree Gold - USA

USA


Properties

Yerington,
Nevada

USA
• Rated No. 1 mining jurisdiction in USA
• Underdeveloped camp with significant Cu
• Positioned for major company investment

• Yerington Mine
Produced 1.9 billion lbs Cu (1918-1982)
• Pumpkin Hollow - Nevada Copper
5.9 billion lbs Cu @ 0.55% (M&I)
(0.2% Cu cut-off)

• Entrée Prospects
Blackjack Minnesota
Roulette Shamrock


Ann Mason Property, Nevada

8.0 billion lbs Cu Indicated
1,115 Mt @ 0.33% Cu
0.2% Cu cut-off

(5.4 billion lbs Cu Indicated
640 Mt @ 0.38% Cu
0.3% Cu cut-off)

7.3 billion lbs Cu Inferred
1,131 Mt @ 0.29% Cu
0.2% Cu cut-off

(3.5 billion lbs Cu Inferred
444 Mt @ 0.36% Cu
0.3% Cu cut-off)

Drill Highlights
• 650 m of 0.39% CuEq (AM-11-010)

• 988 m of 0.38% CuEq (AM-10-001)

• 759 m of 0.49% CuEq (AM-10-020)

• 783 m of 0.41% CuEq (AM-10-024)

* Copper equivalent estimated using US$2.50/lb Cu, US$15/lb Mo, Au US$1000/oz and Ag US$ 15/oz. *See news releases dated Sept 6, 2011, Feb 7, 2011 and Mar. 1, 2012.


Ann Mason Deposit
Yerington, Nevada

100% Entrée 0.15% Cu Outline

1.3 km
No Royalties

Major Deposit
2.3 X 1.3 km
>1000 m depth

Premier Location

PEA Planned
Approx. 0.15% Cu Outline

H2 - 2012


Porphyry Copper Deposits
Western North America

Red Chris
0.6 619 Mt

0.5
Ann Mason* 0.3% Rosemont Safford Carlota
% Copper

640 Mt 543 Mt 243 Mt 64 Mt
0.4 Mt Milligan* Copper Mtn
707 Mt 233 Mt
Tyrone
0.3 Morenci
Ann Mason* 0.2% Highland Valley
180 Mt
1115 Mt 440 Mt
Gibraltar
3200 Mt
460 Mt

0.2

0.1

Ann Mason inferred resources: 0.3% Cu cut-off – 444 million tonnes averaging 0.38% CuEq -- 02% Cu cut-off – 1,131 million tonnes averaging 0.31% Cu Eq.

*Copper equivalent indicated resources


Properties

Arizona
New Mexico

USA
Partners: Empirical Discovery
Explore for buried porphyry Cu-Mo targets
• Proprietary geophysical techniques
• Four properties drilled

Entrée discovery at Lordsburg
• Intercepts to 0.44% CuEq* over 60 m
• Further exploration planned

Other targets
• Oak Grove

* Copper equivalent estimated using US$1.35/lb Cu and US$650/oz Au. See news release dated Oct. 8, 2011.


Mongolia


Shivee Tolgoi - Oyu Tolgoi Trends


Oyu Tolgoi Trend

2.2%
CuEq
0.9% CuEq

See Note 1 of Cautionary Statement. Figures are NI 43-101 compliant. IVN IDP 10 and ETG Technical Report - www.SEDAR.com
The mineral reserves are not additive to the mineral resources.
Copper equivalent estimated using US$1.35/lb Cu, US$650/oz Au, US$10/lb Mo. A 0.6% CuEq cutoff was used.


Entrée-OTLLC JV Deposit Resources
Entrée ownership - 20% Carried Interest

Hugo North Extension Heruga
Cu-Au Cu-Au-Mo

Probable
Mineral
27Mt ore
Reserves* 1.85% Cu and 0.72 g/t Au
1B lbs Cu / 0.53M oz Au

Indicated
Resources**
5.6B lbs CuEq
117 million tonnes*** - 1.8% Cu, 0.61 g/t Au
4.6B lbs Cu / 2.3M oz Au

Inferred 2.8B lbs CuEq 17.4B lbs CuEq
Resources** 95.5 million tonnes***- 1.15% Cu, 0.31 g/t Au 910 million tonnes***
2.4B lbs Cu / 0.95M oz Au 0.48% Cu, 0.49 g/t Au, 0.014 % Mo
9.6B lbs Cu / 14M oz Au
HUGO
See Note 1 of Cautionary Statement. Figures are NI 43-101 compliant. IVN IDP 10 and ETG Technical Report - www.SEDAR.com NORTH
* The mineral reserves are not additive to the mineral resources. EXTENSION
** Copper equivalent estimated using US$1.35/lb Cu, US$650/oz Au, US$10/lb Mo.
*** 0.6% CuEq cutoff.
HERUGA


Hugo North Extension Cu-Au Deposit &
Heruga - Moving Forward

Current
• Premier Asset
• High Grade – Long life
• OT Construction 75% Complete
• Entrée Carried to Production

Timeline for Entrée’s Assets
• First Ore from HNE 2016*
• 50+ Year Mine Life
• HNE & Heruga Deposits Remain Open

*Per IDP-10

Exploration Potential


Argo and Zone III Gold Targets
Shivee West (100% Entrée)

• 2.5 km Magnetic Low Parallel to
OT Trend
• Low Sulphidation Epithermal
Signature
• Limited Drilling
• High Grade Surface Samples
• 42.4 g/t Au over 4 m
• 19.3 g/t Au over 3 m

• 2011 Drill Results
• 1.82 g/t Au over 14 m (hole 112)
including 9.32 g/t Au over 2 m
• 2.21 g/t over 3 m (hole 111)
• 2.08 g/t Au over 8 m (hole 123)
including 5.60 g/t over 2 m


Current Copper Assets
12

10
7.3 B lbs Cu
0.2% Cu cut-off

8
8.0 B lbs Cu
0.2% Cu cut-off
Billions (lbs)

6
3.5 B lbs Cu Nevada
Nevada_0.2% Cut-off
0.3% Cu cut-off Ann Mason Mongolia

5.4 B lbs Cu
4 0.3% Cu cut-off

2 Mongolia
Includes HNE
4.1 B lbs CuEq* Mineral Reserves
1.1 B lbs CuEq* (with 3M oz Au)
(with 0.5M oz Au)
0
Indicated Indicated Inferred Inferred
*CuEq estimated using US$1.35/lb Cu,
US$650/oz Au, US$10/lb Mo.
Figures are NI 43-101 Compliant.


Advancing our Assets

100% Owned Assets Joint Venture
Ann Mason, Nevada Hugo North Extension &
Drilling 2012 Heruga, Mongolia
PEA in late 2012 On-going Development to 2016

First Production in 2016*
Shivee West, Mongolia
Drilling Argo Zone 2012 Production to post 2070*

Exploration Drilling in 2012

*Per IDP-10


Copper Resources vs. Share Price

$4.00
Share price
20
$3.50

Billion Pounds Copper
$3.00
16
Share Price

$2.50

12
$2.00

$1.50 8

$1.00

4
$0.50

$0.00 0

2004 2005 2006 2007 2008 2009 2010 2011 2012
Indicated (Billion lbs) Inferred (Billion lbs)

*0.2% Cu Cut-off

Monica Hamm – Manager Investor Relations
mhamm@entreegold.com
604-687-4777
www.entreegold.com

Entree gold presentation_march_2012

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