This discussion and analysis of financial position, results of operations and cash flows (“MD&A”) of Entrée
Gold Inc. (the “Company”) should be read in conjunction with the audited consolidated financial statements
of the Company for the year ended December 31, 2009. Additional information relating to the Company,
including the Company’s Annual Information Form is available on SEDAR at www.sedar.com. The
effective date of this MD&A is August 13, 2010. The annual financial statements accompanying this
MD&A have been prepared by the Company in conformity with generally accepted accounting principles
in the United States of America (“US GAAP”).
In this MD&A, all dollar amounts are expressed in United States dollars, unless otherwise specified such as
“Cdn __DOCTEXT__rdquo; or “C__DOCTEXT__rdquo; for Canadian dollars. All references to "common shares" refer to the common shares in
the Company’s capital stock.
As used in this MD&A, the terms "we", "us", "our", the “Company” and "Entrée" mean Entree Gold Inc.
and the Company’s wholly-owned subsidiaries, unless otherwise indicated. Entrée’s principal wholly-
owned subsidiary companies are:
This MD&A contains forward-looking statements. These statements relate to future events or future
financial performance. 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. These statements are only predictions and
involve known and unknown risks, uncertainties and other factors, including the risks in the section entitled
"Risk Factors” that may cause the Company’s or the mining 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. Forward-looking
statements are made as of the date