Entrée Resources Announces Retirement of Director and Appointment of New Board Member
Entrée Resources (OTCQB:ERLFF) announced a board change: Dr. Michael Price will retire from the board effective December 31, 2025 after more than seven years of service.
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Rhea-AI Summary
Entrée Resources (OTCQB:ERLFF) announced a board change: Dr. Michael Price will retire from the board effective December 31, 2025 after more than seven years of service. The company named Chris Adams as an independent director to fill the vacancy and he will join the board effective January 1, 2026. Mr. Adams is a mining finance consultant with 35 years of industry experience, formerly head of Mining Finance for the Americas at Macquarie Group, and holds a B.Com from McGill, an MBA from MIT, and the CFA designation.
The board highlighted Adams’ mining finance background and said he will assist as the company continues efforts to resolve outstanding issues in Mongolia to enable restart of Oyu Tolgoi Lift 1 Panel 1 underground development work.
Positive
- Independent director appointment effective Jan 1, 2026
- 35 years of mining finance experience added to the board
- Direct successor named, avoiding a prolonged vacancy
Negative
- Loss of long-serving director after 7+ years could reduce continuity
Details
News Market Reaction – ERLFF
On Dec 2, the first trading day after this news, ERLFF closed 2.53% below the previous close.
Data tracked by StockTitan Argus for the Dec 2 session.
Key Figures
- Board service
- Over 7 years
- Dr. Michael Price’s tenure on Entrée’s Board
- Mining career length
- 40 years
- Dr. Price’s career in mining and mining finance
- Industry experience
- 35 years
- Chris Adams’ experience in mining finance and corporate roles
- Retirement effective date
- December 31, 2025
- Effective date of Dr. Price’s retirement from the Board
- Appointment effective date
- January 1, 2026
- Effective date for Chris Adams joining the Board
Historical Context
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Director retirement and appointment of a new independent mining finance expert.
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Q3 2025 results and confirmation of strong copper ramp-up outlook at Oyu Tolgoi.
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Q2 2025 results highlighting paused underground work and license transfer challenges.
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Corporate update on paused Lift 1 Panel 1 development and Mongolian negotiations.
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AGM approvals with all directors and auditors receiving strong shareholder support.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
independent director financial
commodity derivatives financial
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VANCOUVER, British Columbia, Dec. 01, 2025 (GLOBE NEWSWIRE) -- Entrée Resources Ltd. (TSX:ETG; OTCQB:ERLFF – the “Company” or “Entrée”) today announces Dr. Michael Price will be retiring from the Board of Directors (the “Board”) of the Company effective December 31, 2025, after more than seven years of dedicated service.
Alan Edwards, Entrée’s Non-Executive Chair of the Board commented, “We would like to thank Dr. Price for his contributions and commitment as an independent director and a member of the Audit and Technical Committees of the Board. We have been extremely fortunate to have the benefit of his knowledge and insight developed over a 40-year career in mining and mining finance. Dr. Price’s commonsense approach and business acumen have been greatly appreciated. I would personally like to thank Mike for his support and friendship over the past years and wish him all the best in his retirement”.
The Company is pleased to announce that Mr. Chris Adams has accepted an offer to serve on the Board as an independent director to fill the vacancy created by Dr. Price’s retirement.
Mr. Adams is a mining finance consultant and corporate director with 35 years of industry experience. As head of Mining Finance for the Americas with Macquarie Group Limited, he led teams to evaluate and execute equity investments and loans to mining development projects around the world and marketed commodity derivatives. Prior to Macquarie, Mr. Adams worked in mining investment banking in Canada and Australia for both Macquarie and CIBC. He holds a B.Com. degree from McGill University, an MBA from the Massachusetts Institute of Technology, and the CFA designation.
Mr. Adams will join the Board effective January 1, 2026. Mr. Edwards commented, “The Board is looking forward to working with Chris as the Company continues its efforts to resolve outstanding issues in Mongolia to enable the restart of Oyu Tolgoi Lift 1 Panel 1 underground development work”.
ABOUT ENTRÉE RESOURCES LTD.
Entrée Resources Ltd. is a Canadian mining company with a unique carried joint venture interest on a significant portion of one of the world’s largest copper-gold projects – the Oyu Tolgoi project in Mongolia. Entrée has a
FURTHER INFORMATION
David Jan
Investor Relations
Entrée Resources Ltd.
Tel: 604-687-4777 | Toll Free: 1-866-368-7330
E-mail: djan@EntreeResourcesLtd.com
This News Release contains forward-looking information within the meaning of applicable Canadian securities laws.
In certain cases, forward-looking information can be identified by words such as "plans", "expects" or "does not expect", "is expected", "budgeted", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", "will be taken", "occur" or "be achieved". While the Company has based this forward-looking information on its expectations about future events as at the date that such information was prepared, the information is not a guarantee of Entrée’s future performance and is based on certain assumptions.
Risks, uncertainties, and factors which could cause actual results, performance, or achievements of the Company to differ materially from future results, performance, or achievements expressed or implied by forward-looking information are discussed in the Company’s most recently filed MD&A and in the Company’s Annual Information Form for the financial year ended December 31, 2024, dated March 12, 2025 filed with the Canadian Securities Administrators and available at www.sedarplus.ca. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company is under no obligation to update or alter any forward-looking information except as required under applicable securities laws.
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