VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 7, 2016) - Entrée Gold Inc. (TSX:ETG)(NYSE
MKT:EGI)(FRANKFURT:EKA) ("Entrée" or the "Company") wishes to comment on the high level of trading activity that occurred on
November 4, 2016. Entrée is aware, through public filings available on Edgar, that one of its in stitutional shareholders has
been reducing its position in Entrée over the last approximately 10-month period. Entrée believes, but is unable to confirm due
to privacy laws, that the high volume was as a result of the sale of the balance of this shareholder's position. Certain
directors and officers of Entrée acquired an aggregate 763,000 shares on the market on November 4 in an effort to assist with
removal of this overhang.
Stephen Scott, President and CEO of Entrée stated, "We are very pleased to see what we believe is the conclusion of selling
from this particular shareholder. Public filings indicate that this shareholder also exited other equity positions related
to the Oyu Tolgoi project, but over a much shorter timeframe. We are hopeful that with the overhang removed, Entrée's share
price will start to align itself more with the value of the Company's assets."
Entrée is not aware of any other specific factors, other than information previously disclosed in its public filings, news
releases or statements, which would result in the levels of trading activity and change in the share price recorded in
recent days.
ABOUT ENTRÉE GOLD INC.
Entrée Gold Inc. is a Canadian mineral exploration company balancing opportunity and risk with key assets in Mongolia and
Nevada. As a joint venture partner with a carried interest on a portion of the Oyu Tolgoi mining project in Mongolia, Entrée
has a unique opportunity to participate in one of the world's largest copper-gold projects managed by one of the premier mining
companies - Rio Tinto. Oyu Tolgoi, with its series of deposits containing copper, gold and molybdenum, has been under
exploration and development since the late 1990s. Additionally, Entrée has also been advancing its Ann Mason project in one
of the world's most favourable mining jurisdictions, Nevada. The Ann Mason project hosts the Ann Mason copper-molybdenum
deposit as well as the Blue Hill copper deposit within the rejuvenated Yerington copper camp.
Sandstorm Gold, Rio Tinto and Turquoise Hill Resources are major shareholders of Entrée, holding approximately 15%, 11% and 9%
of issued and outstanding shares, respectively.
This news release 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. In
certain cases, forward-looking statements and information can be identified by the use of words such as "plans", "expects" or
"does not expect", "is expected", "budgeted", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not
anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may",
"could", "would", "might" "will be taken", "occur" or "be achieved". While 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
Entrée's future performance and are based on numerous assumptions regarding present and future business strategies, local and
global economic conditions, legal proceedings and negotiations and the environment in which the Company will operate in the
future, including the status of the Company's relationship and interaction with the Government of Mongolia, Oyu Tolgoi LLC, Rio
Tinto and Turquoise Hill Resources. Important risks, uncertainties and factors which could cause actual results to differ
materially from future results expressed or implied by forward-looking statements and information include, amongst others,
whether the size, grade and continuity of deposits and resource and reserve estimates have been interpreted correctly from
exploration results; whether the results of preliminary test work are indicative of what the results of future test work will be;
fluctuations in commodity prices and demand; changing foreign exchange rates; actions by Rio Tinto, Turquoise Hill and/or OTLLC
and by government authorities including the Government of Mongolia; the availability of funding on reasonable terms; the impact
of changes in interpretation to or changes in enforcement of, laws, regulations and government practices, including laws,
regulations and government practices with respect to mining, foreign investment, royalties and taxation; the terms and timing of
obtaining necessary environmental and other government approvals, consents and permits; the availability and cost of necessary
items such as power, water, skilled labour, transportation and appropriate smelting and refining arrangements; 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 and information. Such factors include, among others, risks
related to international operations, including legal and political risk in Mongolia; risks associated with changes in the
attitudes of governments to foreign investment; risks associated with the conduct of joint ventures; discrepancies between actual
and anticipated production, mineral reserves and resources and metallurgical recoveries; global financial conditions; changes in
project parameters as plans continue to be refined; inability to upgrade Inferred mineral resources to Indicated or Measured
mineral resources; inability to convert mineral resources to mineral reserves; conclusions of economic evaluations; future prices
of copper, gold, silver and molybdenum; failure of plant, equipment or processes to operate as anticipated; accidents, labour
disputes and other risks of the mining industry; delays in obtaining government approvals, permits or licences or financing or in
the completion of development or construction activities; environmental risks; title disputes; limitations on insurance coverage;
as well as those factors described in the Company's most recently filed Management's Discussion and Analysis and in the Company's
Annual Information Form for the financial year ended December 31, 2015, dated March 30, 2016 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. Accordingly, readers should
not place undue reliance on forward-looking statements. The Company is under no obligation to update or alter any forward-looking
statements except as required under applicable securities laws.