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Khundii Minerals District Exploration & Development
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- Announced updated mineral resource estimate for Zuun Mod on October 2
- 22% increase in Measured and Indicated molybdenum (“Mo”) resources to 333 million pounds (“Mlbs”) and 90% increase in Inferred Mo resources to 300 Mlbs
- 16% increase in Measured and Indicated copper (“Cu”) resources to 384 Mlbs and 75% increase in Inferred Cu resources to 350 Mlbs
- Technical report will be filed on SEDAR+ by mid-November
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Corporate
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- Entered option agreement on July 3 to acquire up to 80% of the Tereg Uul Copper-Gold porphyry prospect
- Prospect is located ~10km southwest along trend of the Oyu Tolgoi copper deposit
- Completed 6:1 consolidation of common shares on September 2
- Reduced the number of outstanding Common Shares from 366,351,958 to 61,063,549
- Recorded net loss of $2,748,830 for the three months ended September 30, 2025, compared to net loss of $1,687,580 for the three months ended September 30, 2024
- Exploration and evaluation expenses totaled $579,333 for the three months ended September 30, 2025, compared to $215,903 in the prior year comparative quarter, primarily due to exploration expenditures associated with the Tereg Uul property optioned in July 2025 and increased new project evaluation costs
- Corporate and administrative expenses totaled $864,892 for the three months ended September 30, 2025, compared to $582,089 for the three months ended September 30, 2024, with the year-on-year change primarily due to an increase in stock based compensation due to the grant of options to a strategic advisor as well as higher professional and regulatory fees associated with the share consolidation completed on September 2, 2025
- Loss from investment in associate, representing the Company’s joint venture interest in the loss of EM, totaled $1,347,317 for the three months ended September 30, 2025, compared to $918,649 in the prior year comparative quarter due to an increase in interest expenditures by EM to finance construction at BK, partially offset by the proceeds from gold sales in September 2025
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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 Wednesday, November 5, 2025, at 10:00 AM Eastern Time. The webcast will be accessible on Erdene’s website 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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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 has reviewed and approved the technical information 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 focused on bringing the Bayan Khundii Gold Mine into production in late 2025 and on the acquisition, exploration, and development of precious and base metals in underexplored and highly prospective Mongolia. The Company has interests in three mining licenses and two exploration licenses in Mongolia, where exploration success has led to the discovery and definition of the Khundii Gold District. Erdene Resource Development Corp. is listed on the Toronto and the Mongolian stock exchanges and OTCQB Venture Market. 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)