Entree Resources Ltd T.ETG

exploration update

[RGS1]

Symbol: ETG U/ETEEF 30Jul03 Market News Publishing Inc. 2003/07/30 No:0002 ENTREE GOLD INC. ("ETG-V") - Exploration Update on Shivee Tolgoi, Mongolia Entree Gold Inc. ("Entree" or the "Company") is pleased to provide an update on exploration programs that have been underway on its Shivee Tolgoi property in Mongolia since May, 2003. Shivee Tolgoi is immediately adjacent to and completely surrounds Ivanhoe Mines Ltd.'s Oyu Tolgoi (Turquoise Hill) property. Entree's Shivee Tolgoi property covers approximately 180,000 hectares and hosts multiple targets. At this time, the two principal targets are understood to be potential extensions to the mineralized porphyry copper-gold system currently being explored by Ivanhoe Mines Ltd. ("Ivanhoe") and a separate, epithermal gold zone ("Zone III"), with previously reported surface sample values to 29.2 g/t gold. Other targets include the "X Grid" area, with previously reported surface values to 2.9 g/t gold in quartz veins and shears cutting altered intrusives to the east of Oyu Tolgoi, and a large area of quartz - alunite altered intrusives and volcanics that form a lithocap potentially overlying or marginal to a separate mineralized porphyry system. Several additional reconnaissance targets hosting alteration and/or mineralization have been identified and will be evaluated. Exploration currently underway includes geophysical (IP, magnetometer and gravity) and geochemical surveys along the northern extension of Ivanhoe's Far North Zone mineralized trend. This copper and gold rich zone, which Ivanhoe now describes as the "project's most important deposit", lies just south of Entree's Shivee Tolgoi property, is open to the north and is currently being drilled within 500 meters of Entree's property. Results from Entree's previouslyreported surveys indicate that this mineralized structure continues for at least one km onto Entree's property and remains open to the north. Current geophysical surveys are testing this system further to the north and to depth. Additional exploration efforts by Entree are being focused on the southern extensions to the Zone III epithermal gold mineralized target, where previous sampling returned results to 29.2 g/t gold. Geophysical and geochemical testing is also being conducted along the Zone I quartz-alunite alteration system; immediately to the west of this system along Zone II, which hosts an unexplained 3+ km long strong IP chargeability anomaly; in the area of the "X Grid" to the east of Oyu Tolgoi; and over several reconnaissance targets. Results from these surveys are currently being tabulated as they are received and will be reported once the compilation of all of the data is complete. Recent Ivanhoe Results On July 21, 2003, Ivanhoe Mines Ltd. released a new resource estimate which concludes that the Far North Zone is the "most important deposit" within its Oyu Tolgoi gold-copper system (described in the News Release as "one of the world's largest" such systems). It was also reported that the "Far North Project now contains inferred resources of 618 million tonnes grading 1.19% copper and 0.10 g/t gold at a 0.60% copper equivalent cut-off to contain over 16 billion pounds of copper and 2.0 million ounces of gold". These resources form part of the larger property-wide inferred resources of 2.4 billion tonnes averaging 0.61% copper and 0.14 g/t gold at a 0.30% copper equivalent cut-off, estimated to contain over 32 billion pounds of copper and 11 million ounces of gold. The richer, Far North system is further described as being "open ended" and Ivanhoe has indicated it will commit 13 drill rigs towards exploring the "extent of this high-grade discovery". The most northerly drill rig testing this zone is now within 500 meters of Entree's Shivee Tolgoi property and previous exploration programs by Entree strongly indicate the structures hosting this mineralized system continue to the north onto Entree's ground. While the potential continuation of the Far North mineralized system onto Entree's Shivee Tolgoi property remains a primary exploration target, the Company is continuing to evaluate the other high priority geophysical, alteration and mineralized areas that may host additional porphyry related gold-copper mineralization and separate stand-alone epithermal style gold systems. The potential for the discovery of a significant mineralized system on Entree's Shivee Tolgoi property remains strong. Robert Cann, P. Geo. is Entree's Exploration Manager and is a qualified person as defined by National Instrument 43-101. Mr. Cann supervises the exploration programs and the preparation of information in the company's News Releases. All rock analyses are completed at SGS Analabs Pty. Ltd. in Mongolia and all soil analyses are completed at Acme Analytical Laboratories Ltd. in Vancouver. For more information about Entree and reference maps of its Shivee Tolgoi project, please visit the Company's website at www.entreegold.com. TEL: [phone] Gregory G. Crowe, President FAX: [phone] Entree Gold Inc. ______________________________________ ___________________________________________________________________ (c) Market News Publishing Inc. Tel:[phone] All rights reserved. Fax:[phone]