Entrée Resources Names Sarah Strunk as Independent Director After Stephen Scott’s Board Retirement

Sarah Strunk’s Extensive Mining and Legal Expertise

Sarah Strunk offers significant legal credentials and mining industry experience to Entrée’s board. She has practiced business and finance law for more than four decades, focusing on mergers and acquisitions, corporate governance, international sales contracts, and exploration projects. Throughout her career, she has represented numerous clients in the mining and natural resource sectors, equipping her with deep insight into sector-specific legal and operational challenges.

Strunk is admitted to the bar in multiple U.S. states, including Arizona, California, New York, Connecticut, and Kansas. Her educational background includes degrees from New York University School of Law, University of Kansas School of Law, and Wichita State University (B.A.). She currently serves as Director and Shareholder at the law firm Fennemore Craig, P.C., where she was Chair from 2016 to 2023, demonstrating strong leadership within the legal profession.

Current and Past Mining Sector Board Roles

Strunk’s active participation in major mining projects is reflected in her board roles. She is currently a director of Teck Resources Limited, one of Canada’s largest mining companies. She also served as director of Arizona Sonoran Copper Company Inc. until its recent acquisition by Hudbay Minerals Inc., showcasing her experience with significant copper mining transactions.

Alan Edwards, Entrée’s Non-Executive Chair, stated, "I am very pleased that Sarah has agreed to join the Entrée Board. She is highly respected in the mining industry and brings extensive knowledge from her legal career in the U.S. I recently worked with Sarah on the Arizona Sonoran Copper board and know her creativity and leadership will greatly benefit the Company." This prior collaboration highlights an established working relationship and shared industry understanding.

Board Vacancy and Governance Transition

Strunk’s appointment fills the vacancy created by Stephen Scott’s retirement from Entrée’s Board of Directors. This change coincides with Entrée’s recent executive leadership update, where Chris Adams succeeded Scott as President and CEO in July 2026. These governance changes mark a broader evolution in Entrée’s leadership structure.

Her role as an independent director aligns with best practices in corporate governance, impacting board committee compositions and shareholder oversight. Independent directors are vital in maintaining board impartiality, especially regarding audit, compensation, and governance matters.

Entrée Resources’ Stake in the Oyu Tolgoi Joint Venture

Entrée Resources holds a 20% to 30% carried participating interest in the Entrée/Oyu Tolgoi joint venture, one of the world’s largest copper-gold projects located in Mongolia. This unique position requires board expertise in mining law, corporate governance, and international operations.

The joint venture includes major shareholders such as Royal Gold (via its wholly owned subsidiary International Royalty Corporation) and Rio Tinto, holding approximately 24% and 16% of Entrée’s shares, respectively. Strunk’s governance and international resource project experience will be valuable in managing the complex multi-stakeholder environment.

Appointment Timing and Effective Date

The announcement was made on July 27, 2026, with Strunk’s appointment effective August 4, 2026. This one-week transition allows for documentation, background checks, and integration into board activities. The timing aligns with Entrée’s second fiscal quarter, enabling her participation in scheduled board and committee meetings.

The prompt effective date indicates completion of the selection process through appropriate governance channels, including the nominating committee. Shareholders should watch for upcoming proxy or management information circulars for details on Strunk’s committee roles and governance responsibilities.

Regulatory Compliance and Disclosure

Entrée Resources complies with Canadian securities laws regarding forward-looking information. The company highlights risks and uncertainties that could affect actual outcomes in its latest MD&A and Annual Information Form for the year ended December 31, 2025, filed March 5, 2026, available on the Canadian Securities Administrators’ SEDAR+ platform at www.sedarplus.ca.

As an independent director appointment to a TSX-listed company, Strunk’s role meets regulatory standards for director independence, qualifications, and disclosure obligations under securities and exchange rules.

Mining Sector M&A and Governance Expertise

Strunk’s specialization in mergers and acquisitions within the mining sector is highly relevant to Entrée’s strategic objectives. Mining M&A transactions often involve complex valuations, regulatory approvals, and international negotiations. Her experience advising clients on such deals equips her with insights into commercial, legal, and operational challenges in major corporate activities.

Her recent involvement with Arizona Sonoran Copper, acquired by Hudbay Minerals, exemplifies her participation in significant mining sector transactions. Board members with such acquisition and integration experience provide valuable perspectives on strategic opportunities, risk management, and stakeholder communications during corporate transitions.

Shareholder Structure and Board Dynamics

Entrée’s board operates amid concentrated institutional ownership, with Royal Gold and Rio Tinto holding substantial stakes. Strunk’s independent director status and absence of disclosed prior relationships with these shareholders support balanced governance. Independent directors help represent all shareholders’ interests and provide counterbalance to controlling stakeholders.

Her extensive governance and international business experience enhances the board’s ability to oversee complex stakeholder relationships and ensure transparent decision-making. Her leadership as a former law firm Chair also demonstrates capabilities relevant to board responsibilities.

Integration and Future Board Role

After August 4, 2026, Strunk will engage in regular board meetings and committee assignments. The announcement does not specify her committee memberships or specific duties; investors should monitor future proxy statements for such disclosures.

The simultaneous board and executive leadership changes, including Scott’s retirement and Adams’ CEO appointment, indicate a period of governance renewal at Entrée. Strunk’s addition reflects the company’s commitment to refreshing board expertise with professionals aligned to its strategic goals and operational environment.