ETG 2009-10-16 (provided courtesy of Canada NewsWire Group)
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[CNW] Entree Gold Interests Included in Oyu Tolgoi Investment Agreement

	    VANCOUVER, Oct. 16 /CNW/ - EntrDee Gold Inc. (TSX:ETG; NYSE Amex:EGI;
Frankfurt:EKA - "EntrDee" or the "Company") has reviewed the Investment
Agreement that was signed between Ivanhoe Mines Ltd. (TSX: IVN; NYSE: IVN;
NASDAQ: IVN - "Ivanhoe Mines"), its subsidiary, Ivanhoe Mines Mongolia Inc.
LLC ("IMMI"), our largest shareholder Rio Tinto (NYSE: RTP; LSE: RIO.L; ASX:
RIO.AX) and the Mongolian government on October 06, 2009 and filed October 14,
2009 on SEDAR (www.sedar.com).
	    Several key issues pertaining to the Investment Agreement have specific
and beneficial impacts for EntrDee and its shareholders:

	    <<
	    -   This Investment Agreement provides long term stability for the Oyu
	        Tolgoi project and enables the companies involved to operate within
	        parameters that have been approved by the government of Mongolia

	    -   This agreement paves the way for finalizing feasibility, development
	        and mining studies of the many Oyu Tolgoi deposits, including
	        EntrDee's Hugo North Extension and Heruga deposits

	    -   Greater certainty is afforded to all stakeholders, with the agreement
	        providing fiscal stability and reliable access to water, power,
	        transportation and labour throughout the term

	    -   The EntrDee-Ivanhoe Mines exploration licences (Shivee Tolgoi and
	        Javhlant) which are subject to the joint venture are contained within
	        the Contract Area covered by the Investment Agreement

	    -   The conversion of the joint venture licences from mineral exploration
	        licences to mining licences is a condition precedent to the
	        Investment Agreement
	    >>

	    The Investment Agreement has an initial term of 30 years with the option
to renew for an additional 20 years. Ivanhoe Mines is currently working on an
updated Integrated Development Plan which will expand upon the original plan
issued in 2005 and further clarify the next phases of development and eventual
mining that is anticipated to begin in 2013. Current resources are expected to
support open-pit and underground mining for at least 60 years and potential
exists to expand the available resources, particularly on the Lookout Hill
property which includes the joint venture ground.
	    With the inclusion of the Mongolian Government as a partner and Rio
Tinto's recent endorsement of the project through the advanced settlement of
the Tranche 2 private placement financing, strong support in the continued
long term success of the project is conveyed. These parties have acknowledged
the projected mine life could be as much as 100 years and have a strong
commitment to the ongoing success of this project and all have a vested
interest in the future benefits of this outstanding opportunity.
	    By successfully converting EntrDee's exploration licences to mining
licences, exploration on this ground will no longer be controlled by the date
of exploration licence expiration and the risk of licence forfeiture is
removed. Mining licences have a 30 year term with two renewals of 20 years
each possible. This allows the diligent and systematic exploration on these
licences for new deposits to continue. Under the EntrDee-Ivanhoe Mines joint
venture, EntrDee retains either a 20% or 30% carried interest, dependent on the
depth of mineralization.
	    The Investment Agreement has laid the foundation for the advancement of
these rich deposits and has given assurance to the continued success of this
project for its stakeholders: the people of Mongolia and the investors that
have supported Ivanhoe Mines, Rio Tinto and EntrDee Gold.
	    EntrDee will continue to review and evaluate the implications of the
Investment Agreement with respect to its Lookout Hill property and provide
updates whenever possible.