Erdene Resource Development

Erdene Resource Development Corp. – Company Overview

Management & Leadership

Erdene Resource Development Corp. (TSX:ERD; OTCQX:ERDCF; MSE:ERDN) is led by President and CEO Peter Akerley, supported by a seasoned team including CFO Robert Jenkins and Bilguun Ankhbayar, CEO of Erdene Mongol LLC – the joint venture with Mongolian Mining Corporation (MMC) that operates the company’s flagship mine. The board includes Chairman Layton Croft, with Eric Sprott among the company’s largest shareholders.

From Developer to Producer

The flagship Bayan Khundii Gold Mine in Mongolia’s Khundii Minerals District poured first gold in September 2025 and is now ramping up. In Q2 2026 the mine produced 11,709 ounces of gold – up 37% quarter-over-quarter – from 153,000 tonnes processed at 2.4 g/t and 96% recovery, generating approximately US$53 million (C$75 million) in quarterly revenue at an average realized US$4,493/oz. Cumulative production since first pour is 27,670 ounces, with optimization initiatives targeting the levels projected in the 2023 Feasibility Study.

District-Scale Growth

Beyond the mine, Erdene is advancing a district pipeline: an updated resource for the Zuun Mod molybdenum-copper project was filed in November 2025 with mineralization expanded in early 2026; drilling at the Khuvyn Khar copper porphyry intersected 30 metres of 1.25% copper in January 2026; and the high-grade Altan Nar and Ulaan gold deposits provide future mill feed, alongside an option on the Tereg Uul copper-gold porphyry prospect near Oyu Tolgoi.

Financial Position & Outlook

Erdene graduated to the OTCQX market in November 2025, closed a C$25 million bought-deal private placement in February 2026, and announced its intention to launch a normal course issuer bid in June 2026 – a signal of confidence as Bayan Khundii cash flow funds district-scale exploration and growth across the Khundii Minerals District.