Erdene Appoints Cameron McRae to its Board of Directors
ERDENE RESOURCE DEVELOPMENT CORP.
Erdene Appoints Cameron McRae to its Board of Directors
Halifax, Nova Scotia - March 15, 2018 - Erdene Resource Development Corp. (TSX:ERD)
("Erdene" or " Company") is pleased to announce the appointment of Cameron McRae to the
Company’s Board of Directors. Mr. McRae will serve as a non -executive, independent member
of the Erdene board, effective immediately.
“We are pleased to welcome Cameron to our Board and believe he will bring a n exceptional
wealth of knowledge and industry experience to the mining and business development aspects of
our Company, as we advance our gold projects in southwest Mongolia ,” said Erdene’s
Chairman, Chris Cowan . “Cameron brings with him 28 years experience with Rio Tinto,
including the role of President for Oyu Tolgoi LLC, where he led the construction and start-up of
the US$6 billion Oyu Tolgoi copper -gold mine in southern Mongolia, one of the world’s largest
known copper and gold projects.”
Cameron McRae is a seasoned CEO, having led mining organizations through the full mining
development cycle in four countries and across three continents. Mr. McRae served a 28 -year
career with Rio Tinto, and in Mongolia was P resident of Oyu Tolgoi LLC and Rio Tinto’ s
country director for Mongolia. In that role he led the construction and start -up of the US$6
billion Oyu Tolgoi copper-gold mine, ahead of schedule, which at peak of construction had over
15,000 people employed on site.
Cameron has led successful greenfield and brownfield construction projects, overarching
business transformations and business improvement projects, and at the corporate level has deep
commercial/M&A experience. Prior to Oyu Tolgoi , Cameron was CEO of Richards Bay
Minerals in South Africa (2008 -10), Managing Director of Murowa Diamonds in Zimbabwe
(2006-07) and Project Director for the Hail Creek Coking Coal Expansion project in Australi a.
Prior to 2004, Cameron held commercial and project leadership roles, both at Corporate and
Business Unit levels. In 1995, he was a key team member responsible for the A$29 billion
merger of CRA and RTZ into the dual listed Rio Tinto (which was the world ’s largest merger at
the time).
Mr. McRae is the founder of Tarva Investment & Advisory, a broad -based consultancy firm .
Tarva has also acted as strategic advisor to Erdenes Mongol , Mongolia’s state-owned asset
management firm , on the resolution of the Oy u Tolgoi dispute between Rio Tinto and the
Government of Mongolia. Cameron remains active in Mongolian public life, as an executive
director of the Business Council of Mongolia, as a trustee of the Arts Council and founder of the
Institute of National Str ategy. Cameron was schooled in Australia and Africa and holds a
commercial degree and an MBA (Monash Mount Eliza, 1991).
ABOUT ERDENE
Erdene Resource Development Corp. is a Canada -based resource company focused on the
acquisition, exploration, and devel opment of base and precious metals in underexplored and
highly prospective Mongolia. The Company has interests in five exploration licenses and a
mining license in southwest Mongolia , where exploration success has led to the discovery and
definition of several prospects and deposits including : Bayan Khundii – the Company’s flagship
and newly discovered, high -grade, near -surface gold project ; Altan Nar – an extensive, high -
grade, near-surface, gold-polymetallic project located 16 kilometres northwest of B ayan Khundii
that the Company is actively advancing; Altan Arrow – an early -stage, high -grade gold-silver
project 3.5 kilometres north of Bayan Khundii; Ulaan – a recently acquired copper -gold
porphyry prospect adjacent to Bayan Khundii; Khuvyn Khar – an e arly-stage, copper -silver
porphyry project with multiple drill targets and significant copper intersecti ons; Nomin Tal – a
narrow, high -grade copper -gold discovery; and Zuun Mod – a large mol ybdenum-copper
porphyry deposit. In addition to the above propert ies, the Company has an Alliance with Teck
Resources Limited on regional copper -gold exploration in the prospective Trans Alta i region of
southwest Mongolia. The Bayan Khundii license has a 2% net smelter returns royalty (“NSR
Royalty”) in favour of Sands torm Gold Ltd. with a buy -back option to reduce the NSR Royalty
to 1%. For further information on the Company, please visit www.erdene.com. Erdene has
146,400,586 issued and outstanding common shares and a fully diluted position of 156,792,160
common shares.
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, expectat ions, 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 many 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 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.
ERDENE CONTACT INFORMATION
Peter C. Akerley, President and CEO
or
Ken W. MacDonald, Vice President and CFO
Phone: (902) 423-6419
E-mail: [email protected]
Website: www.erdene.com
Twitter: https://twitter.com/ErdeneRes
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