Entrйe Gold Inc. (TSX:ETG)(NYSE MKT:EGI)(FRANKFURT:EKA) is pleased to announce that the power supply deal for the Oyu Tolgoi mine in Mongolia has been finalized. Turquoise Hill Resources announced that Oyu Tolgoi LLC has signed a binding power purchase agreement with the Inner Mongolia Power Corporation on 5th November. This agreement is a critical milestone in the development of the Oyu Tolgoi mining complex.

Turquoise Hill stated that finalization of the power purchase agreement will enable Oyu Tolgoi to complete commissioning leading to the first production of copper-gold concentrate. Oyu Tolgoi is expected to begin a seven-week commissioning of the ore-processing equipment within the next few weeks. First concentrate production will follow within one month and the commencement of commercial production is expected three to five months later.

Greg Crowe, Entrйe”s President and CEO commented, “On October 9, 2012, Turquoise Hill announced that construction of the power transmission infrastructure has been completed and the power lines are ready for use. Conclusion of the power purchase agreement is the final step to securing the initial supply of electricity to the nearly-completed mine. Rio Tinto, Turquoise Hill and Oyu Tolgoi LLC are reportedly on track to bring the first phase of the world-class Oyu Tolgoi mine into production in the first half of 2013. The commencement of commercial production from the open pits will be vital to the further development of Mongolia”s economy.”

Lift 1 of the Entrйe-Oyu Tolgoi LLC joint venture”s Hugo North Extension deposit is included in the second phase of development. Entrйe has a carried interest in the Hugo North Extension deposit and the much larger Heruga deposit, both of which form part of the Oyu Tolgoi mining complex. First development production on the joint venture property is expected as early as 2015.