Erdene Resource Development

Erdene Resource Development Corp. is a Canada-based mining company focused on unlocking the potential of Mongolia’s Khundii Minerals District, a highly prospective and underexplored gold and copper belt. The company’s flagship Bayan Khundii Gold Project is set to begin production in mid-2025, establishing Erdene as a leading gold producer in the region.

With a multi-million-ounce gold resource, a high-grade, low-cost development model, and a strategic partnership with Mongolia’s largest independent miner, Mongolian Mining Corporation (MMC), Erdene is well-positioned for long-term growth. The company also holds significant stakes in Altan Nar (gold-silver-lead-zinc), Dark Horse (high-grade gold), and Zuun Mod (one of Asia’s largest undeveloped molybdenum-copper projects), creating a multi-mine, multi-commodity development pipeline.

Erdene is listed on the Toronto Stock Exchange (TSX: ERD), Mongolian Stock Exchange (MSE: ERDN), and OTC Markets (OTC: ERDCF). Backed by strong institutional investors and a proven management team, the company is committed to responsible mining practices, generating economic benefits for Mongolia, and delivering sustainable value to shareholders.

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Erdene Resource Development presents a unique investment opportunity in one of the world’s most underexplored but highly prospective gold and copper regions. The Bayan Khundii Gold Project, set to begin production in mid-2025, is a high-margin, low-cost operation with an average annual production of 75,000 ounces over its initial six-year mine life. The project’s feasibility study highlights a strong after-tax internal rate of return (IRR) of 35% and an all-in sustaining cost (AISC) of just $869 per ounce, making it one of the most competitive gold projects in the sector.

Beyond Bayan Khundii, Erdene controls a district-scale portfolio of high-grade gold, copper, and molybdenum assets. The company’s Altan Nar and Dark Horse deposits offer further near-term production potential, while Zuun Mod is positioned as a strategic, long-term molybdenum-copper asset that could play a key role in global clean energy and steel markets.

With major infrastructure investments improving connectivity between Mongolia and China, strong government support for mining, and a partnership with Mongolian Mining Corporation, Erdene is well-positioned to capitalize on rising demand for gold, copper, and critical minerals. As the company moves towards production and further resource expansion, investors have a rare chance to participate in the growth of a premier mining district at an early stage.

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Erdene Resource Development Corp. is led by a highly experienced management team with deep expertise in mining, exploration, project development, and corporate finance. The team has a proven track record of successfully advancing mining projects from discovery to production, ensuring efficient execution of Erdene’s multi-mine growth strategy in Mongolia.

At the helm is Peter Akerley, President & CEO, he has over 35 years of experience in mineral exploration, corporate financing, project development and management of publicly listed resource companies. He is one of the founders and principals of Erdene and has held the position of President and Chief Executive Officer of the Corporation since March 2003.

The company’s financial strategy is led by Robert Jenkins, CFO. He joined Erdene as Vice President Business Strategy in 2018, with responsibility for strategic and financial planning. From 2010 to 2017, Bob held a series of progressive finance and operational roles with Canada’s leading asset management firm.

Michael X. Gillis, VP of Exploration, was appointed Vice President Operation in 2017 in addition to his positions as Director of Operations, Mongolia in 2010 and Director of Business Operations to which he was appointed in March 2006. Prior to this, Mr. Gillis was Erdene’s Corporate Development Manager, a position he held since joining the company in early 2004. 

Erdene’s Board of Directors and senior leadership team include industry veterans in exploration, engineering, permitting, and corporate governance, positioning the company for sustained growth and operational success.

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Erdene Resource Development Corp. is executing a multi-phase growth strategy focused on establishing the Khundii Minerals District as a world-class multi-mine, multi-commodity mining hub. The company’s immediate priority is advancing the Bayan Khundii Gold Project into production by mid-2025, providing a foundation for future expansion and unlocking the district’s full potential.

To extend mine life and scale production, Erdene is aggressively exploring adjacent high-grade gold deposits, including Altan Nar, Dark Horse, and Ulaan, which have the potential to significantly increase gold output beyond 2030. At the same time, the company is advancing its Zuun Mod Molybdenum-Copper Project, one of Asia’s largest undeveloped molybdenum resources, positioning it as a strategic asset for the growing demand in clean energy and steel production.

Erdene is leveraging its strategic alliance with Mongolian Mining Corporation (MMC) to accelerate development, benefit from shared infrastructure, and reduce capital expenditures. The company is also actively evaluating acquisition opportunities and potential joint ventures to further expand its resource base and enhance long-term value.

With a focus on responsible mining, Erdene is integrating sustainability and environmental best practices, ensuring alignment with Mongolia’s regulatory framework and community interests. 

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Erdene Resource Development Corp. is in a strong financial position as it advances the Bayan Khundii Gold Project toward production in mid-2025. The company has secured strategic funding partnerships, including an $80 million shareholder loan from Mongolian Mining Corporation (MMC) and a $50 million working capital facility from the Trade & Development Bank of Mongolia, ensuring sufficient capital to fund construction and early production activities.

The 2023 Feasibility Study highlights the robust economics of Bayan Khundii, with:

• Capital Expenditure (CAPEX): $100 million
• After-Tax Net Present Value (NPV5%): $170 million (at $1,800/oz gold)
• Internal Rate of Return (IRR): 35%
• All-In Sustaining Cost (AISC): $869 per ounce, among the lowest in the sector
• Annual Gold Production (Years 2-5): 86,900 oz
• Payback Period: 2.05 years

Beyond Bayan Khundii, Erdene’s expansion strategy includes advancing Altan Nar, Dark Horse, and Zuun Mod, each with strong resource upside and potential to extend production beyond 2040. These assets provide significant future cash flow opportunities and additional funding flexibility.

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Erdene Resource Development Corp. is on the verge of transforming Mongolia’s Khundii Minerals District into a world-class gold and copper mining hub. With its flagship Bayan Khundii Gold Project set to begin production in mid-2025, Erdene is transitioning from an explorer to a high-margin gold producer, backed by strong project economics, low operating costs, and strategic financial partnerships.

Beyond Bayan Khundii, Erdene’s multi-mine expansion strategy—including Altan Nar, Dark Horse, and Zuun Mod—provides long-term production growth and diversified exposure to critical metals. Supported by Mongolian Mining Corporation (MMC), institutional investors like EBRD, and a deeply experienced management team, the company is well-positioned to deliver sustainable shareholder value.

Operating in a rapidly growing mining jurisdiction with increasing infrastructure investment and government support, Erdene is a unique opportunity for investors seeking exposure to high-grade, low-cost gold production in an emerging market.

With a clear path to production, a scalable asset base, and a commitment to responsible mining, Erdene is set to become one of Asia’s premier gold and copper producers, creating long-term value for investors, local communities, and Mongolia’s mining sector.

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