Entree Gold 2009 Exploration and Corporate Update

VANCOUVER, Canada, December 21 - Entree Gold Inc. (TSX:ETG; NYSE Amex:EGI; Frankfurt:EKA - "Entree" or the
"Company") reached a number of milestones in 2009. These include the
conversion of key concessions at Lookout Hill, Mongolia into long term mining
licences as part of the Oyu Tolgoi Investment Agreement; acquisition and
consolidation of strategic exploration properties in the Yerington copper
camp in Nevada, USA; and continued exploration and testing of porphyry copper
targets in New Mexico and Arizona, USA.

Exploration and corporate highlights of 2009 include:

    - Signing of the long-awaited Oyu Tolgoi Investment Agreement between
      the Mongolian government and Entree's joint venture partner, Ivanhoe
      Mines Ltd. (TSX: IVN; NYSE: IVN; NASDAQ: IVN - "Ivanhoe Mines") and
      largest shareholder, Rio Tinto (NYSE: RTP; LSE: RIO.L; ASX: RIO.AX);

    - The conversion of Entree's Shivee Tolgoi and Javhlant exploration
      licences into mining licences;

    - Acquisition and consolidation of a large, underexplored and highly
      prospective porphyry copper land package in the Yerington district of
      Nevada;

    - Entree's agreement with PacMag Metals Ltd. (ASX:PMH - "PacMag") to
      acquire all of their outstanding shares and options, as part of the
      Yerington area consolidation;

    - Expansion of porphyry copper-gold mineralization at Lordsburg, New
      Mexico;

    - Continued exploration of Togoot coal deposits through additional
      drilling and the preparation of a Mongolian resource report in advance
      of a mining licence application;

    - Drill testing copper-gold targets on the Huaixi project in China.

Mongolia

Entree-Ivanhoe Joint Venture

The successful conclusion to negotiations that culminated in the signing
of the Oyu Tolgoi Investment Agreement in October 2009 provides stability to
Entree's Lookout Hill portion of the Oyu Tolgoi project and sets the stage
for future project development. Entree's Hugo North Extension and Heruga
deposits are key elements for consideration as the Oyu Tolgoi project
advances towards production. Ivanhoe Mines is preparing an updated Integrated
Development Plan that is expected to provide a projected timeline and work
program related to the construction and completion of the massive Oyu Tolgoi
mining complex.

Abolition of the 68% windfall tax, to take effect in January 2011, was
also announced in August 2009. This move by the Mongolian government signaled
an awareness that the mining industry has an important role to play as
Mongolia recovers from the economic crisis. The Mongolian mining industry
welcomed this decision by the government leaders, as the tax was perceived to
be a deterrent to future mine exploration and development by both domestic
and foreign investors.

Further studies along the Oyu Tolgoi mineralized trend indicate several
target areas could be drill tested in order to expand known resources.
Geophysical data, including the deep penetrating ZEUS induced polarization
(IP) survey, gathered over the areas surrounding the Heruga and Hugo North
Extension deposits indicate promising trends suggesting the continuation of
mineralization associated with each deposit. A possible southern extension of
the Heruga deposit is suggested by IP anomalies southwest of Heruga. The rich
Hugo North Extension deposit is interpreted to continue along strike to the
north, towards drill hole EGD081B which encountered Hugo North style
mineralization 1,300 metres from the property boundary. Approximately 8
kilometres of relatively untested ground lies to north of the Hugo North
Extension on the Shivee Tolgoi mining licence, between the Hugo North
Extension deposit and the near surface Ulaan Khud copper showing.

100%-Owned Entree Licence Areas

Exploration programs are being prepared for 2010 to seek new
mineralization on Entree's 100%-owned western portion of the Shivee Tolgoi
mining licence ("Shivee West"). Exploration was temporarily suspended in 2009
to accommodate the protracted mining licence conversion process. Mining
licences carry an initial term of 30 years with two possible extensions of 20
years. Entree may now continue investigating the potential of this
prospective region of Lookout Hill without facing imminent licence expiry.

Shivee West is geologically similar to the Devonian-aged setting of the
Oyu Tolgoi deposits. It is common in very large porphyry copper-gold systems,
such as those found in South America, for mineralization to occur along
parallel structural trends and be comprised of numerous separate ore bodies.
Strong geophysical signatures, in combination with copper-gold-molybdenum
geochemical evidence, make Shivee West highly prospective. An exploration
program involving drilling of geophysical and soil geochemical targets within
prospective Devonian rocks is expected to be finalized in preparation for
budget approvals in January 2010.

On Entree's 100%-owned Togoot exploration licence, in-fill drilling
continued at the Nomkhon Bohr coal deposit in 2009. Drill testing of other
coal targets in the northwest corner of the Togoot exploration licence was
also conducted. The Permian rocks hosting Nomkhon Bohr are similar to those
at the giant Tavan Tolgoi coal deposit, 70 kilometres to the northwest.
Multiple thin seams of bituminous to anthracite coal up to several metres
thick, are present over a strike length of 1200 metres. A resource report is
being prepared by Mongolian consultants in collaboration with Entree's
technical team in preparation for submission of an application to convert all
or part of Togoot to a mining licence.

Yerington, Nevada

In August and September 2009, Entree optioned two large contiguous
properties in the historic Yerington porphyry copper district through
agreements with HoneyBadger Exploration Ltd. and Bronco Creek Exploration.
These included the Blackjack and Roulette land packages. Entree's strategy
was to begin the acquisition of and eventual consolidation of key targets in
this emerging, underexplored copper camp. Exploration and drill programs are
being prepared for 2010 on these properties.

Entree Gold and PacMag Agreement

On November 29, 2009 Entree announced an agreement with PacMag Metals
Limited to implement Australian Schemes of Arrangement to acquire all of the
issued shares and options of PacMag (see news release dated November 29,
2009). PacMag holds the rights to a sizeable tract of land that is contiguous
with the Blackjack and Roulette properties and hosts the Ann Mason
copper-molybdenum deposit. PacMag has acquired a portfolio of several other
copper, gold, and uranium projects in the US and Australia.

Entree believes the combination of the two companies will be very
advantageous for their respective shareholders. Entree investors will now
have access to a diversified project portfolio that includes the Ann Mason
deposit. Ann Mason is a copper-molybdenum porphyry which has a JORC compliant
inferred resource of 810 million tonnes grading 0.40% copper and 0.004%
molybdenum at a 0.30% copper cut-off grade, containing more than 7 billion
pounds of copper. The PacMag properties in Yerington host other significant,
relatively untested copper prospects such as the Blue Hills discovery,
Shamrock high-grade copper target and the Minnesota copper-iron target.

The acquisition of PacMag, including the Ann Mason copper deposit, should
more than double Entree's current worldwide copper assets. The agreement will
be subject to an independent assessment on behalf of PacMag, a PacMag
shareholder vote and regulatory approval by the Australian Stock Exchange and
governing bodies.

Lordsburg, New Mexico

Drilling in 2009 continued to successfully expand the mineralized zone at
the Lordsburg copper-gold discovery. Six additional drill holes were
completed. Significant copper and gold intervals were intersected in four of
the six drill holes. One hole in particular, EG-L-09-012, returned
potentially economic grades of 0.25% copper and 0.15 g/t gold (0.35% copper
equivalent) over 94 metres. Furthermore, this same interval hosts a higher
grade zone of 60 metres averaging 0.31% copper and 0.21 g/t gold (0.44%
copper equivalent). Significant results are compiled in the table below.

                       Significant Lordsburg Drill Results
    -------------------------------------------------------------------------
                        Interval        Length       Cu       Au      CuEq(x)
      Hole No.            (m)            (m)        (%)     (g/t)      (%)
    -------------------------------------------------------------------------
    EG-L-08-002       156.0 - 466.0      310.0      0.14      0.08      0.19
    -------------------------------------------------------------------------
      including       182.0 - 211.3       29.3      0.21      0.12      0.29
    -------------------------------------------------------------------------
      including       240.0 - 254.0       14.0      0.33      0.26      0.50
    -------------------------------------------------------------------------
    EG-L-08-005         0.0 - 134.0      134.0      0.13      0.12      0.21
    -------------------------------------------------------------------------
    EG-L-08-006        11.2 - 130.0      118.8      0.20      0.20      0.33
    -------------------------------------------------------------------------
    EG-L-08-007         6.0 - 152.0      146.0      0.13      0.16      0.23
    -------------------------------------------------------------------------
    EG-L-08-008       280.0 - 332.0       52.0      0.18      0.05      0.21
    -------------------------------------------------------------------------
    EG-L-09-010A        34.0 - 84.0       50.0      0.18      0.21      0.31
    -------------------------------------------------------------------------
        And           216.0 - 256.0       40.0      0.15      0.13      0.23
    -------------------------------------------------------------------------
    EG-L-09-011         28.0 - 66.0       38.0      0.15      0.20      0.28
    -------------------------------------------------------------------------
    EG-L-09-012        96.0 - 252.0      156.0      0.19      0.12      0.27
    -------------------------------------------------------------------------
      including       118.0 - 212.0       94.0      0.25      0.15      0.35
    -------------------------------------------------------------------------
       including      152.0 - 212.0       60.0      0.31      0.21      0.44
    -------------------------------------------------------------------------
    (x) Copper Equivalent (CuEq) has been calculated using assumed metal
        prices (US$1.35/pound for copper and US$650/ounce for gold) and no
        metallurgical factor; % CuEq. equals % Cu + (g/t Au(x)18.98)/29.76.

The Lordsburg project lies in an area of known copper porphyry deposits,
several of which are past or current producers. Freeport-MacMoRan's Safford,
Tyrone and Morenci open-pit copper deposits are producing through SX/EW
extraction methods from ore averaging 0.35%, 0.29% and 0.28% copper
respectively. The currently suspended Chino deposit was also a commercially
viable near-surface open-pit conventional mining-milling operation with an
average copper grade of 0.52% Cu.

Entree is currently applying for additional drill permits for the 2010
field season. Any additional drilling will be directed towards expanding the
existing drill defined copper and gold zone.

Huaixi, China

A drill program to test geochemical and geophysical anomalies commenced
early in November 2009 and is ongoing. Four holes have been completed for a
total of approximately 1700 metres of the planned 2700 metres. Assay results
are pending but scattered base metal mineralization has been visually
identified in hole three.

Entree's exploration to date has been successful in outlining a 7
kilometre long northwest-trending structural corridor with a strong,
multi-element porphyry signature. This was done primarily through extensive
soil and stream sediment sampling in 2008 and followed up with magnetic and
IP geophysical surveys.

Crystal Property, British Columbia

The Crystal Property is an early stage molybdenum-copper prospect about
120 kilometres west-southwest of Prince George, BC that covers a sizeable,
strong geochemical anomaly. The anomaly lies in an area of known molybdenum
deposits, such as Thompson Creek's Endako Mine and has never been tested. A
short prospecting and sampling program was completed in October 2009; results
are pending.

About Entree Gold Inc.

Entree Gold Inc. is a Canadian mineral exploration company focused on the
worldwide exploration and development of gold and copper prospects. Entree's
expertise is in exploring for deep and/or concealed ore deposits and with a
treasury currently in excess of C$40 million, is well funded for future
activities. Ivanhoe Mines and Rio Tinto are major shareholders of Entree,
holding approximately 15% and 16% of issued and outstanding shares
respectively.

Entree's flagship property is in Mongolia, where it holds two mining
licences and one exploration licence comprising the 179,590 hectare Lookout
Hill property that completely surrounds the 8,500-hectare Oyu Tolgoi project
of Ivanhoe Mines, and hosts the Hugo North Extension of the Hugo Dummett
copper-gold deposit and the Heruga copper-gold-molybdenum deposit.

The Lookout Hill property is subject to a joint venture with Ivanhoe
Mines Mongolia Inc. (now renamed Oyu Tolgoi LLC) whereby following
expenditure of US$35 million by Oyu Tolgoi LLC, Entree now retains a 20% to
30% carried interest through to production, with Entree's share of
development costs to be repaid from future production cash flow.

The Hugo North Extension deposit hosts a 43-101 compliant Indicated
Resource of 117 million tonnes grading 1.8% copper and 0.61 g/t gold,
estimated to contain 4.6 billion pounds of copper and 2.3 million ounces of
gold and an Inferred Resource of 95.5 million tonnes grading 1.15% copper and
0.31 g/t gold, estimated to contain 2.4 billion pounds copper and 950,000
ounces of gold. Entree retains a 20% carried interest in these resources.

The Heruga deposit contains an Inferred Resource of 760 million tonnes
grading 0.48% copper, 0.55 g/t gold and 142 ppm molybdenum, estimated to
contain 8 billion pounds of copper and 13.4 million ounces of gold. Entree
also retains a 20% carried interest in this resource.

Both resources were calculated using a 0.6% copper equivalent cut-off.
The copper equivalent grades were estimated using metal prices of US$1.35 per
pound copper, US$650 per ounce gold and US$10 per pound molybdenum. All
resources at Hugo North Extension and Heruga were calculated using a 0.6%
copper-equivalent cut-off.

Entree continues to explore its large landholdings in Mongolia, including
the coal discovery Nomkhon Bohr, and is also evaluating the Huaixi copper
project in Zhejiang Province in China.

In North America, Entree is exploring for porphyry-related copper systems
in Arizona, New Mexico, Nevada and British Columbia. Entree's Nevada property
is contiguous with the western boundary of PacMag's Ann Mason copper project
and increases substantially the area of prospective tenure within that
district.

Qualified Person

Robert Cann, P.Geo., Entree's Vice-President, Exploration, and Lindsay
Bottomer, P. Geo., FAIMM, both Qualified Persons as defined by National
Instrument 43-101 ("NI 43-101"), supervised the preparation of the technical
information in this release relating to the Entree properties.

This News Release contains forward-looking statements. Forward-looking
statements are statements which relate to future events. In some cases, you
can identify forward-looking statements by terminology such as "may",
"should", "expects", "plans", "anticipates", "believes", "estimates",
"predicts", "potential" or "continue" or the negative of these terms or other
comparable terminology. Such statements include those relating to the
successful completion of the transaction and implementation of the Schemes of
Arrangement, future work commitments on exploration projects and increases to
Entree resources. These statements are only predictions and involve known and
unknown risks, uncertainties and other factors that may cause our or our
industry's actual results, levels of activity, performance or achievements to
be materially different from any future results, levels of activity,
performance or achievements expressed or implied by these forward-looking
statements.

While these forward-looking statements, and any assumptions upon which
they are based, are made in good faith and reflect our current judgment
regarding the direction of our business, actual results will almost always
vary, sometimes materially, from any estimates, predictions, projections,
assumptions or other future performance suggested herein. Except as required
by applicable law, including the securities laws of the United States, the
Company does not intend to update any of the forward-looking statements to
conform these statements to actual results. Readers are referred to the
sections entitled "Risk Factors" in the Company's periodic filings with the
British Columbia Securities Commission, which can be viewed at www.SEDAR.com,
and with the United States Securities and Exchange Commission, which can be
viewed at www.SEC.gov.

For further information: Monica Hamm, Manager, Investor Relations, Entree
Gold Inc., Tel: +1-604-687-4777, Toll Free: +1-866-368-7330, E-mail:
mhamm@entreegold.com; Peter Oates, Corporate Communications, Entree Gold
Inc., Tel: +1-604-687-4777, Toll Free: +1-866-368-7330, E-mail:
poates@entreegold.com

For further information: Monica Hamm, Manager, Investor Relations, Entree Gold Inc., Tel: +1-604-687-4777, Toll Free: +1-866-368-7330, E-mail: mhamm at entreegold.com; Peter Oates, Corporate Communications, Entree Gold Inc., Tel: +1-604-687-4777, Toll Free: +1-866-368-7330, E-mail: poates at entreegold.com