Canariaco Project Royalty Completes Sale Of Net Smelter Returns

VANCOUVER, BC - Entree Resources Ltd. reported that the Canariaco Project Royalty in Peru completed the sale of its 0.5% net smelter returns royalty on Candente Copper Corp.'s Canariaco Copper Project in Northern Peru to Anglo Pacific Group PLC. Under the sales agreement with Anglo Pacific, the Company transferred all the issued and outstanding shares of its subsidiaries that directly or indirectly hold the Royalty to Anglo Pacific for consideration of $1.0 million, payable by the issuance of 478,951 Anglo Pacific common shares, which has resulted in a gain of $0.4 million, net of transaction costs. In addition, Entrée retains the right to a portion of any future royalty income received by Anglo Pacific in relation to the Royalty as follows: 20% of any royalty payment received for any calendar quarter up to and including December 31, 2029; 15% of any royalty payment received for any calendar quarter commencing January 1, 2030 up to and including the quarter ending December 31, 2034; and 10% of any royalty payment received for any calendar quarter commencing January 1, 2035 up to and including the quarter ending December 31, 2039.