entree gold presentation_march_2012

On the Path to Production

March 2012

Entrée Gold at

Oyu Tolgoi Headframe

Rio Tinto

Bingham Canyon

Entrée JV Discovery Hole

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

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 themeaning 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 mineralreserve 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 ofestimated future production, costs of production, capital expenditures, cost and timing of the development of new deposits, success of exploration activities, permitting time lines, requirementsfor additional capital and government regulation of mining operations. While Entrée Gold Inc. (“Entrée” or the “Company”) has based these forward-looking statements on its expectationsabout 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 assumptionsinclude, amongst others(1), the effects of general economic conditions, changing foreign exchange rates and actions by government authorities, uncertainties associated with legal proceedingsand 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. Suchfactors 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 inthe 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. Althoughthe 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 beother 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 actualresults and future events could differ materially from those anticipated in such statements. Except as required under applicable securities legislation, the Company undertakes no obligation topublicly 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 Instrument43-101- 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. CautionaryNote 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 Statesinvestors 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. Inferredmineral 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 notform 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 orlegally minable. Disclosure of “contained ounces” is permitted disclosure under Canadian regulations; however, the SEC normally only permits issuers to report mineralization that does notconstitute reserves as in place tonnage and grade without reference to unit measures. Accordingly, information contained in this corporate update containing descriptions of the Company’smineral 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 securitieslaws 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. Thisinformation 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 atwww.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 at165.9 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, AnnMason 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 of0.01% 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 Reporton 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 copyof which is available on SEDAR at www.sedar.com.


Oyu Tolgoi Development

Construction 75% Complete

HNE Production in 2016*


Hugo North Extension and Heruga, Mongolia

*Per IDP-10



Ann Mason, Nevada

8.0 Billion lbs Copper Indicated

7.3 Billion lbs Copper Inferred


Mongolia

Entrée-OTLLC JV

Hugo North Extension

Heruga

100% Entrée

Shivee West

Cu-Au-Mo

Grass Roots Exploration

United States ● Mongolia ● Australia ● Peru

United States

100% Entrée

Ann Mason

Blue Hill

Earn-In Agreement

Roulette

Cu-Mo

Corporate Strategy

Striking the balance between opportunity and risk


Resources

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

Mongolia

Nevada

Inferred Resource7.3 B Cu lbs0.2% Cut-off

or3.5 B Cu lbs0.3% Cut-off

Indicated Resource1.1B CuEq* lbs(with 0.5M oz Au)

0.6% Cut-offHugo North Extension

Inferred Resource4.1B CuEq* lbs(with 3M oz Au)

0.6% Cut-offHNE and Heruga

Ann Mason

Hugo North Ext'n

Heruga

Indicated Resource8.0 B Cu lbs0.2% Cut-off

or5.4 B Cu lbs0.3% Cut-off


Strategic Partners

Entrée-OT LLC JV

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

Carried to production

Rio Tinto (13%)*

51% of Ivanhoe

Standstill expired January 2012 Commitment >US$3.7 billion

Ivanhoe Mines (11%)*

Oyu Tolgoi, Mongolia

*Issued & Outstanding


Shareholder Base Fully Diluted

56%Held by top 13 Shareholders

12%

10%

8%

7%

4% 4%

2% 2% 2%1% 1%

1% 1%


Board of Directors

President & CEO, Director

Chairman, Director

Deputy Chairman, Director

VP Business Development, Director

Director

Director

Director

Greg Crowe

James Harris

Michael Howard

Lindsay Bottomer

Peter Meredith

Mark Bailey

Alan Edwards


Financial Information

Treasury (As of March 2012)

Issued and OutstandingOptions - 10,800,000 (Average price ~Cdn$1.98)

Fully Diluted

52 week High / Low

Analyst Coverage

~Cdn$18 million

128,400,000

139,200,000

Cdn$3.14 / $1.05

TD Newcrest Hallgarten & Co. LLC


Growth Through Exploration

• Mongolia New gold zone discovered at Shivee West in 2011Drilling on JV property

• USA Drilling at Ann Mason, NVDrill permits pending at Oak Grove and Lordsburg, NM

& Acquisitions


Entree Gold - USA

USA


Properties

Minnesota

Shamrock

• 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

Roulette

Yerington,

Nevada

USA


Ann Mason Property, Nevada

* 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.

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)


100% Entrée

No Royalties

Major Deposit

2.3 X 1.3 km

>1000 m depth

Premier Location

PEA Planned

H2 - 2012

Ann Mason Deposit

Yerington, Nevada

0.15% Cu Outline

1.3

k

m

Approx. 0.15% Cu Outline


Porphyry Copper Deposits

Western North America

Morenci

3200 Mt

Ann Mason* 0.2%

1115 Mt

Ann Mason* 0.3%

640 Mt

Mt Milligan*

707 Mt

Red Chris

619 Mt

Rosemont

543 Mt

Gibraltar

460 Mt

Highland Valley

440 Mt

Safford

243 Mt

Copper Mtn

233 Mt

Tyrone

180 Mt

Carlota

64 Mt

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

0.5

0.4

0.3

0.2

0.1

% C

oppe

r

0.6


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

USA

Properties

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

Arizona

New Mexico


Mongolia


Shivee Tolgoi - Oyu Tolgoi Trends


Oyu Tolgoi Trend

0.9% CuEq

2.2%

CuEq

See Note 1 of Cautionary Statement. Figures are NI 43-101 compliant. IVN IDP 10 and ETG Technical Report - www.SEDAR.comThe 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

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.*** 0.6% CuEq cutoff.


Cu-Au

Probable

Mineral

Reserves*

27Mt ore1.85% Cu and 0.72 g/t Au1B lbs Cu / 0.53M oz Au

Indicated

Resources**

5.6B lbs CuEq

117 million tonnes*** - 1.8% Cu, 0.61 g/t Au4.6B lbs Cu / 2.3M oz Au

Inferred

Resources**

2.8B lbs CuEq

95.5 million tonnes***- 1.15% Cu, 0.31 g/t Au2.4B lbs Cu / 0.95M oz Au


Cu-Au

Heruga

Cu-Au-Mo

Probable

Mineral

Reserves*

27Mt ore1.85% Cu and 0.72 g/t Au1B lbs Cu / 0.53M oz Au

Indicated

Resources**

5.6B lbs CuEq

117 million tonnes*** - 1.8% Cu, 0.61 g/t Au4.6B lbs Cu / 2.3M oz Au

Inferred

Resources**

2.8B lbs CuEq

95.5 million tonnes***- 1.15% Cu, 0.31 g/t Au2.4B lbs Cu / 0.95M oz Au

17.4B lbs CuEq

910 million tonnes***0.48% Cu, 0.49 g/t Au, 0.014 % Mo

9.6B lbs Cu / 14M oz Au

HUGO NORTH EXTENSION

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

0

2

4

6

8

10

12

Indicated Inferred

Nevada_0.2% Cut-offMongolia

Billio

ns (lb

s)

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

Nevada

Ann Mason

4.1 B lbs CuEq*

(with 3M oz Au)1.1 B lbs CuEq*

(with 0.5M oz Au)

Includes HNE Mineral Reserves

Mongolia

8.0 B lbs Cu

0.2% Cu cut-off

7.3 B lbs Cu

0.2% Cu cut-off

Indicated Inferred

5.4 B lbs Cu

0.3% Cu cut-off

3.5 B lbs Cu

0.3% Cu cut-off


100% Owned Assets

Ann Mason, Nevada

Drilling 2012

PEA in late 2012

Shivee West, Mongolia

Drilling Argo Zone 2012

Joint Venture

Hugo North Extension &

Heruga, Mongolia

On-going Development to 2016

First Production in 2016*

Production to post 2070*

Exploration Drilling in 2012

*Per IDP-10

Advancing our Assets


Copper Resources vs. Share Price

Shar

e Pr

ice

Share price

*0.2% Cu Cut-off

$0.00

$0.50

$1.00

$1.50

$2.00

$2.50

$3.00

$3.50

$4.00

0

4

8

12

16

20

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

Billion Pounds C

opper


Monica Hamm – Manager Investor Relations

[email protected]

604-687-4777

www.entreegold.com

entree gold presentation_march_2012

Business

forwardlooking statements

forwardlooking information

inferred mineral resources

future results

mineral deposits

estimation of mineral

future production

united states securities