Entrée says Mongolia tax office has not confirmed license valuations

Entrée Resources said on 6 October 2026 that Mongolia's tax authority has not confirmed the company's valuation calculations for the Shivee Tolgoi and Javkhlant mining licences, after the company and its joint venture partner filed for the transfer process to move ahead.

The company said the transfer is being pursued in line with Mongolian law while discussions continue with the Government Working Group and Oyu Tolgoi project stakeholders over state participation in the licence area. Entrée said the licences must be transferred to joint venture partner Oyu Tolgoi LLC for Lift 1 underground development and extraction activities on the Shivee Tolgoi mining licence to proceed.

According to the company, transfer tax based on the value of the licences has to be paid under Mongolian law, and the licence holder is responsible for calculating that value using the prescribed methodology. Entrée said Entrée LLC, with support from OT LLC and their legal and tax advisers, calculated the licence values, remitted the applicable transfer tax to the Mongolian tax authority and submitted a request for review and confirmation, along with supporting documents and receipts.

Entrée said the Mongolian tax authority has not yet confirmed the valuation calculations. The company said the authority has told Entrée LLC that the submitted documents and materials are incomplete and that it is therefore not possible to issue tax payment certificates.

Entrée added that further details are available in its continuous disclosure record on its website, on SEDAR+ and on OTC Markets. The company describes itself as a Canadian mining company with a carried joint venture interest in part of the Oyu Tolgoi project in Mongolia.