Oyu Tolgoi Investment Agreement Finalized

VANCOUVER, March 31, 2010 - Entree Gold Inc. (TSX:ETG; NYSE AMEX:EGI; Frankfurt:EKA - "Entree" or
the "Company") welcomes the finalization of the landmark Investment
Agreement between the Mongolian Government, Rio Tinto (NYSE: RTP; LSE: RIO.
L; ASX: RIO.AX - "Rio"); and Oyu Tolgoi LLC, the Mongolian subsidiary of
Ivanhoe Mines Ltd. (TSX:IVN; NYSE:IVN; NASDAQ:IVN - collectively "Ivanhoe
Mines") that will be owned 66% by Ivanhoe Mines and 34% by the Mongolian
government.

Greg Crowe, President and CEO of Entree stated: "This historic
agreement marks the beginning of a new era in Mongolia. The construction
and operations for the Oyu Tolgoi mining complex, which includes the Entree-
Ivanhoe Joint Venture Property, are important to the future economic
development of the country. A project of this magnitude will create
thousands of jobs, both directly and indirectly, for the Mongolian people
and provide stability for years to come. Settling this agreement is the
next step necessary to access the riches of this exceptional copper-gold
deposit for the benefit of Mongolia and the stakeholders that have been
long term supporters of this project."

Entree is expected to benefit from the stability provided by this
agreement, which has a term of 30 years with a possible 20 year extension,
throughout the construction and development of this world class project in
conjunction with its partners, Rio Tinto and Ivanhoe Mines.

For more information on this historic agreement please see the news
releases issued by Rio Tinto and Ivanhoe Mines on March 31, 2010.

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. The
Company flagship property is in Mongolia, where it holds two mining
licences (Shivee Tolgoi and Javhlant) and one exploration licence (Togoot)
comprising the 179,590 hectare Lookout Hill property. The application to
convert the Togoot licence to a mining licence is currently under review.
Lookout Hill completely surrounds the 8,500-hectare Oyu Tolgoi project of
Ivanhoe Mines, and hosts the Hugo North Extension copper-gold deposit and
the Heruga copper-gold-molybdenum deposit.

Under the terms of the joint venture, Entree is carried through to
production, at its election, by debt financing from Ivanhoe Mines with
interest accruing at Ivanhoe Mines' actual cost of capital or prime +2%,
whichever is less, at the date of the advance. Debt repayment may be made
in whole or in part from (and only from) 90% of monthly available cash flow
arising from its sale of product. Such amounts will be applied first to
payment of accrued interest and then to repayment of principal. Available
cash flow means all net proceeds of sale of Entree's share of products in a
month less Entree's share of costs of operations for the month.

The Company continues to explore its large landholdings in Mongolia,
including the coal discovery Nomkhon Bohr. Entree is also evaluating new
opportunities throughout the region and elsewhere in Asia. Entree is
exploring the Huaixi copper project in Zhejiang Province in China, under
the terms of an agreement with the No. 11 Geological Brigade.

In North America, the Company is exploring for porphyry-related copper
systems in Arizona and New Mexico under an agreement with Empirical
Discovery LLC. In 2009, Entree optioned two large contiguous properties,
Blackjack and Roulette, in the Yerington porphyry copper district of Nevada
through option agreements with HoneyBadger Exploration Ltd. and Bronco
Creek Exploration Inc. In November 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. PacMag holds the
rights to land contiguous with the Blackjack and Roulette properties and
hosts the Ann Mason deposit. In British Columbia, Entree has the right to
earn 100% interest in the early stage copper-molybdenum Crystal property
through an agreement with Taiga Consultants Ltd.

The Company is also seeking additional opportunities to utilize its
expertise in exploring for deep and/or concealed ore deposits. With a
treasury in excess of C$40 million, the Company is well funded for future
activities.

Rio Tinto and Ivanhoe Mines are major shareholders of Entree, holding
approximately 15% and 14% of issued and outstanding shares, respectively.

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
development of the Oyu Tolgoi project. 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

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