Erdene Announces First GOLD Pour at the Bayan Khundii GOLD MINE
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ERDENE ANNOUNCES FIRST GOLD POUR
AT THE BAYAN KHUNDII GOLD MINE
Press Release
Halifax, Nova Scotia
2025.09.15
• One of the world’s highest grade open-pit gold mines pours first gold
• On track for nameplate capacity production in Q4 2025
Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN; OTCQB:ER DCD)
(“Erdene” or the “Company”) is pleased to announce first gold pour at the Bayan Khundii
mine in Mongolia on September 14, 2025.
Peter Akerley, Erdene’s President and CEO commented: “From a greenfield discovery in
2015, Bayan Khundii has emerged as an important mine for Mongolia and the foundation for
growth in the Khundii Minerals District. With construction of a 242 kilometre power line, mining
underway, the process plant commissioned and first gold doré poured in just 22 months, the
team deserves tremendous credit. I would like to thank and congratulate our employees,
contractors, investors, and strategic partner Mongolia Mining Corporation for helping us safely
achieve this significant milestone. Bayan Khundii is forecast to be one of the highest grade
open-pit mines globally and is positioned to achieve nameplate capacity in late Q4 2025. Gold
from Bayan Khundii will be sold to Mongolia’s Central Bank at spot gold price to bolster foreign
currency reserves, playing an impactful role in Mongolia’s economic stability.”
Mr. Akerley added, “This milestone was achieved just 10 years after our geologists discovered
high-grade gold at surface, and five years after delivering a feasibility study, making Bayan
Khundii one of the fastest projects globally to transition to production in recent memory. We
look forward to our ramp-up of exploration as we work to expand and extend production in
the Khundii Minerals District.”
H.E. Stephen Doust, Canada’s Ambassador Designate to Mongolia, who attended the Bayan
Khundii Mine Opening Ceremony, shared the following remarks: “The Bayan Khundii Gold
Mine represents a significant milestone in the enduring partnership between Canada and
Mongolia. It reflects the long-term commitment of Canadian investors and highlights the
potential for meaningful collaboration between our two countries. This project not only benefits
Canadian, international, and domestic stakeholders, but also contributes positively to local
communities. I commend Erdene for its achievement and Mr. Akerley for his steadfast
dedication to Mongolia.”
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Images (clockwise):
1. Mr.Ts.Baasandorj, COO of Erdene Mongol LLC (EM); Mr.Peter Akerley, President & CEO of Erdene
Resource Development Corp (ERD); Mrs.R.Oyunbat, Senior Chief Process Engineer of EM
2. Mr.A.Bilguun, CEO of EM; Mr. Akerley, President & CEO of Erdene Resource Development Corp (ERD)
and Mr.Jon Lyons, CDO of EM
3. Mr.G.Damdinnyam, Member of Parliament, Minister of Industry and Mineral Resources of Mongolia ;
Mrs.R.Oyunbat, Senior Chief Process Engineer of EM
4. Bayan Khundii Process Plant
About Bayan Khundii
Bayan Khundii is located in southwest Mongolia in the Khundii Minerals District. The mine has
total gold reserves of 513,700 ounces at an average head grade of 4.0 g/t gold, including the
Dark Horse satellite gold deposit, and is expected to produce approximately 85,000 ounces
gold per annum at a low quartile all-in sustaining cost.
Bayan Khundii lies within the Khundii Minerals District, which includes the high-grade, near-
surface Bayan Khundii, Dark Horse Mane and Altan Nar deposits, Ulaan SE and Greater Dark
Horse prospects and Erdene’s Zuun Mod Molybdenum -Copper resource. As one o f
Mongolia’s leading exploration companies, Erdene will continue to focus on exploration with
a goal of extending the mine life and bringing additional deposits into production.
Qualified Person
Jon Lyons, FAusIMM, Chief Development Officer 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
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 in
close proximity to 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 OTCQB Venture
Market (“ERDCD”). 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.
Forward-Looking Statements
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.
NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENTS
OF THIS RELEASE
Erdene Contact Information
Peter C. Akerley, President and CEO, or Robert Jenkins, CFO
Phone: (902) 423-6419
Email: [email protected]
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