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Exploration & Development
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- Progressed Zuun Mod Preliminary Economic Assessment (“PEA”), planned for completion in mid H2-2026
- Mine planning, marketing and metallurgical test work is largely complete
- Contract has been executed for deep geophysics exploration program commencing in late Q3
- Drilled 11 holes totaling 2,710 metres in maiden program at Tereg Uul, about 10km south of Oyu-Tolgoi
- Eight shallow holes in the Web prospect intersected anomalous gold (over 0.1 g/t Au and up to 1g/t and up to 15g/t Ag) along a 1.5 kilometre mineralized structure
- Testing of deeper geophysical target intersected a coal seam within 150 metres of surface and traces of native copper mineralization
- Extended Tereg Uul option agreement in July with US$400,000 option payment
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Corporate
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- Recorded net income of $9,993 for the three months ended June 30, 2026, compared to net loss of $4,122 for the three months ended June 30, 2025
- Income from investment in associate, representing the Company’s joint venture interest in the income of EM, totaled $11,201 for the three months ended June 30, 2026, compared to a loss of $2,995 for the three months ended June 30, 2025, due to production from Bayan Khundii in the current year quarter, while the mine was under construction during the prior year quarter
- Exploration and evaluation expenses totaled $726 for the three months ended June 30, 2026, compared to $514 for the three months ended June 30, 2025, with the increase compared to the prior year quarter attributable to exploration at the Tereg Uul property optioned in July 2025
- Corporate and administrative expenses totaled $1,617 for the three months ended June 30, 2026, compared to $1,488 for three months ended June 30, 2025, with the change compared to the prior year quarter primarily due to increased investor relations and regulatory costs
- Income from investment in associate, representing the Company’s joint venture interest in the income of EM, totaled $11,201 for the three months ended June 30, 2026, compared to a loss of $2,995 for the three months ended June 30, 2025, due to production from Bayan Khundii in the current year quarter, while the mine was under construction during the prior year quarter
- Launched Normal Course Issuer Bid on June 30, 2026
- Allows the Company to purchase up to 4,900,000 common shares for cancellation, representing approximately 10% of the public float
- Repurchased and cancelled 94,400 shares at an average price of $5.21 per share to date
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Results Conference Call
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Management will host a webcast and conference call to discuss these results and current business initiatives on Monday, August 17, 2026, at 10:00 AM Eastern Time. The webcast will be accessible at the following link: HERE
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A replay of the webcast will be available at the same link for one year after the event.
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The dial-in numbers for the conference call are as follows:
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- North America (toll free): 1-800-717-1738
- Overseas or local (Toronto): 1-289-514-5100
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Qualified Person
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Jon Lyons, FAusIMM, Chief Development Officer for Erdene, is the Qualified Person as that term is defined in National Instrument 43-101 and oversees the Bayan Khundii Mine operations for the Corporation and has reviewed and approved the technical information related to the BK Mine contained in this news release.
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Peter Dalton, P.Geo. (Nova Scotia), Senior Geologist for Erdene, is the Qualified Person as that term is defined in National Instrument 43-101 and oversees the Corporation’s exploration programs and has reviewed and approved the technical information related to exploration contained in this news release.
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About Erdene
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Erdene Resource Development Corp. is a Canada-based resource company producing gold at the high-grade, low-cost Bayan Khundii Gold Mine in underexplored and highly prospective Mongolia. The Company has interests in a portfolio of precious and base metal projects near the Bayan Khundii Gold Mine in the Khundii Minerals District, which provides a robust organic growth pipeline. Erdene Resource Development Corp. is listed on the Toronto (“ERD”) and the Mongolian stock (“ERDN”) exchanges and OTCQX Market (“ERDCF”). Further information is available at www.erdene.com. Important information may be disseminated exclusively via the website; investors should consult the site to access this information.
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Forward-Looking Statements
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Certain information regarding Erdene contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance, or other statements that are not statements of fact. Although Erdene believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Erdene cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Erdene currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include the ability to obtain required third party approvals, market prices, exploitation, and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. The Company does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.
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NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENTS OF THIS RELEASE
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Erdene Contact Information
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Peter C. Akerley, President and CEO, or
Robert Jenkins, CFO
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English (US)