Highlights:
Completed construction at the high-grade Bayan Khundii Gold Mine in Q3 2025
Produced first gold in September 2025 and sold 7,434 ounces gold at average price of US$4,187, for US$31M in gross project revenues including silver by-product in 2025
Announced updated independent mineral resource estimate for Zuun Mod molybdenum-copper porphyry project and initiation of preliminary economic assessment
Entered option agreement to acquire up to 80% of the Tereg Uul Copper-Gold Project
Conducted exploration programs at Bayan Khundii (Dark Horse), Zuun Mod molybdenum, Khuvyn Khar copper and Tereg Uul
Erdene Resource Development Corp. (TSX:ERD, MSE:ERDN, OTCQX:ERDCF) ("Erdene" or the "Company") is pleased to announce operating and financial results for the year ended December 31, 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 2025 Financial Statements, MD&A, and Annual Information Form, available on the Company's website and SEDAR+. All dollars are Canadian unless otherwise noted.
Peter Akerley, Erdene's President and CEO stated, "The Bayan Khundii Gold Mine is the foundation for the development of the emerging Khundii Minerals District, one of the most exciting new mineral regions in Asia. With a strong partner in MMC and several growth projects, we are excited to expand opportunities within the district and contribute to the communities in which we operate."
Mr. Akerley continued, "We are very pleased with progress during the initial months of operations at the Bayan Khundii Gold Mine. Additionally, recent exploration expanded gold mineralization at Dark Horse, complementing the high-grade reserve scheduled to be mined and processed at Bayan Khundii starting in Q3 2027. We see multiple opportunities on license to extend the mine life or expand operations at Bayan Khundii."
Mr. Akerley concluded, "We also advanced our wholly owned projects in 2025. 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, 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. Funds from the financing in early 2026 position us to accelerate development of these projects."
2025 Highlights and Significant Subsequent Events:
Images, clockwise from top left: Bayan Khundii Mine Area, EM Mining team, Process Plant, EM Processing team
Bayan Khundii Gold Mine, 50% Economic Interest
Completed construction, commissioning and permitting for BK mine during Q3 2025
BK has been designed to process 650,000 tonnes of ore and produce up to 85,000 oz of gold per annum, mill achieved up to 88% of nameplate throughput in December 2025
Direct construction costs totaled US$120 ...
