Entrée says Mongolia tax agency has not confirmed licence valuations

• Questions were raised in Mongolia’s parliament on Oct. 2, 2026.
• Entrée says the transfer tax on the licences has been remitted.
• The MTA has not confirmed the valuation calculations and says the submitted materials are incomplete.

Entrée Resources said on Oct. 6, 2026 that the Mongolia tax agency has not yet confirmed valuation calculations for the Shivee Tolgoi and Javkhlant mining licences. The company linked the update to questions raised in a plenary session of Mongolia’s parliament on Oct. 2.

Entrée says Mongolia tax agency has not confirmed licence valuations

The company said it continues to take steps to advance the transfer of the licences to joint venture partner Oyu Tolgoi LLC under Mongolia’s laws. It said the transfer is needed for Lift 1 underground development and extraction on the Shivee Tolgoi licence to proceed.

Tax filing

Entrée said transfer tax based on the value of the licences must be paid under Mongolia’s laws. It said the licence holder, not the Mongolian tax authority, is responsible for calculating the value using the prescribed methodology.

According to the company, Entrée LLC, with support from OT LLC and their respective legal and tax advisers, calculated the licence values, remitted the transfer tax to the MTA and submitted a request for review and confirmation. Supporting documentation and receipts showing payment were also submitted.

Entrée said the MTA has not confirmed the calculations. It said the agency advised Entrée LLC that the submitted documents and materials were incomplete, and that tax payment certificates cannot be issued.

Background

The company said the latest update follows its September 28, 2026 letter to shareholders from president and chief executive Chris Adams. It also said more details are available in its continuous disclosure record.