Ivanhoe Mines Ltd T.IVN

Entree Gold surrounds IVN

[RGS1]

ENTREE GOLD INC ("ETG-V") - High Grade Initial Gold Results from Shivee Tolgoi, Adjacent - to Ivanhoe Mines' Turquoise Hill Property Entree Gold Inc. ("Entree") is pleased to report on the status of exploration underway within and around the company's strategically located Shivee Tolgoi gold-copper property, South Gobi Region, Mongolia (see accompanying map). Reconnaissance geological mapping and sampling of the Zone III area of epithermal style alteration and gold mineralization, carried out on behalf of Entree by Robert F. Weicker, P.Geo., returned samples of brecciated and quartz veined altered volcanics yielding gold values of 23.6 g/t, 1.72 g/t and 29.2 g/t gold. This mineralized zone lies approximately 6 kilometres northwest of Ivanhoe Mines Inc.'s ("Ivanhoe") Oyu Tolgoi property and extends northwards under an area of extensive desert colluvium. As the accompanying map demonstrates, the 179,590 hectare Shivee Tolgoi (Lookout Hill) concessions completely surround Ivanhoe's approximately 8,500 hectare Oyu Tolgoi (Turquoise Hill) property, on which Ivanhoe recently announced Far North Zone drill intercepts of 638 metres averaging 1.61% copper and 0.07 g/t gold including 114 metres of 3.58% copper and 0.23 g/t gold (Sept. 25, 2002 Ivanhoe News Release). Ivanhoe is currently drilling multiple centres or clusters of porphyry related copper-gold mineralization developed along an apparent northerly trending structural control. To date, it has reported five mineralized centres over an approximate strike length of 2.5 to 3 km. It is not uncommon for large porphyry complexes to consist of numerous mineralized centres developed over 5 to 10 km. These porphyry systems are often zoned, with a copper-enriched centre grading outwards into spatially associated epithermal precious metal deposits. The high-grade copper intercepts recently reported by Ivanhoe in the Far North Zone suggest the system may be increasing in copper grade northwards, with potential for additional mineralized bodies along several kilometres to both the north and south. Ivanhoe is currently drilling within 2,200 metres of the southern boundary of the Shivee Tolgoi concessions. In addition to the Zone III results, mapping and sampling of the NE Area by Mr. Weicker, an "Independent Qualified Person", as defined by National Instrument 43-101, revealed anomalous copper, molybdenum and gold values associated with altered intrusives on the Shivee Tolgoi property. These samples contain magnetite and quartz veining and lie within 1,400 metres of the Ivanhoe property boundary. Outcrops disappear to the east under a 2+ km wide northerly trending plain covered by desert colluvium. This plain extends southward to the area of Ivanhoe's drilling and mineralized centres. A third area of quartz veining and stockwork alteration has been identified on the Shivee Tolgoi property, within 3 km of the eastern boundary of Oyu Tolgoi. Samples collected in this area by Entree were elevated in copper and arsenic values, with one sample yielding 2.6 g/t gold. All samples reported in this release were analyzed in Ulaan Baatar at the Australian owned laboratory of SGS Analabs Pty. Ltd. Entree has commenced field exploration of the project and plans to complete extensive IP and magnetometer geophysical surveys along the northern and southern projected extensions to the Oyu Tolgoi copper-gold porphyry trend. The areas of alteration and mineralization to the east of Oyu Tolgoi and in Zone III will also be tested by these surveys. Mechanized trenching and sampling will commence soon in the area of the high-grade gold samples in Zone III. These surveys will be combined with reconnaissance mapping and sampling of the numerous untested alteration areas occurring throughout the property. Selected areas will be targeted for future drilling. Entree is very encouraged by the results of the preliminary work undertaken to date - most notably, the discovery of several areas of significant epithermal and possible porphyry related alteration and mineralization. Ts. Myanganbayar, General Director of Mongol Gazar Co., Ltd. ("Mongol Gazar") (the Optionor of the Shivee Tolgoi property) believes that Shivee Tolgoi is the most significant of his company's assets and the most strategically located mineral concession in Mongolia. Mongol Gazar is Mongolia's second largest gold producer and has been in the resource business for the past 10 years. Entree will focus on the exploration of the Shivee Tolgoi property, but will continue its search for properties of merit worldwide. Separately, Entree is pleased to announce the addition of Ts. Myanganbayar and Ross Turner, both of Ulaan Bataar, to its Board of Directors. In addition to his involvement with Mongol Gazar, Mr. Myanganbayar is a senior member of the Mongolian business community. Mr. Turner is a businessman educated in New Zealand with extensive business relationships in Mongolia. Messrs. Myanganbayar and Turner join existing directors Greg Crowe, Lindsay Bottomer and Mark Bailey on the Entree Board. The map accompanying this News Release and continued updates to Entree's exploration program and additional information can be viewed by visiting the company's website at www.entreegold.com. TEL: [phone] Entree Gold Inc. Gregory G. Crowe, President Email: [e-mail] ______________________________________