Produced first gold at Bayan Khundii on September 14 and expect to achieve nameplate production by end of 2025
Announced updated independent mineral resource estimate for Zuun Mod molybdenum-copper porphyry project
Entered option agreement to acquire up to 80% of the Tereg Uul Copper-Gold porphyry prospect
HALIFAX, Nova Scotia, Nov. 04, 2025 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp. (TSX:ERD, MSE:ERDN, OTCQB:ERFCF) ("Erdene" or the "Company") is pleased to announce operating and financial results for the three months ended September 30, 2025, and to provide an update on the Bayan Khundii Gold Mine ("BK"), operated by Erdene Mongol LLC ("EM"), the Company's joint venture with Mongolian Mining Corporation ("MMC"). This release should be read in conjunction with the Company's Q3 2025 Financial Statements and MD&A, available on the Company's website and SEDAR+. All dollars are Canadian unless otherwise noted.
Peter Akerley, Erdene's President and CEO stated, "The team achieved a major milestone during the third quarter with first gold pour at the Bayan Khundii Gold Mine. This achievement comes just 10 years from our first drill hole in the deposit, marking BK as one of fastest projects to transition to production in recent memory. Ramp up is progressing largely to plan and we expect BK to achieve nameplate capacity by year-end."
Mr. Akerley continued, "Exploration work is underway as we seek to grow resources to expand or extend BK. EM plans to undertake 9,300 metres of drilling in the coming months across the Khundii Mining license."
Mr. Akerley concluded, "We also continued to advance our wholly owned projects. In October, we announced an updated independent mineral resource estimate for our Zuun Mod Molybdenum-Copper project, confirming the project as one of Asia's largest undeveloped projects. Additionally, in early July we executed an option agreement to acquire an up to 80% interest in a property adjacent to Oyu Tolgoi, one of the largest copper-gold deposits globally. Drilling is now underway on the Zuun Mod project and the initial surface program is continuing at Tereg Uul."
Q3 2025 Highlights and Significant Subsequent Events:
Images, clockwise from top left: Bayan Khundii Process Plant, Mining Operation, First Gold and Process Plant Opening Ceremony
Bayan Khundii Gold Mine, 50% Economic Interest
Produced first gold on September 14 and expect to achieve nameplate production by end of 2025
EM sold 342 ounces ("oz") gold ("Au") and 96 oz silver ("Ag") at a weighted average price of US$3,805/oz and US$44/oz, respectively, during the quarter
BK has been designed to process 650,000 tonnes ...
