Erdene Expands Land Position in Bayan Khundii Gold District; Closes Ulaan Project Acquisition
ERDENE RESOURCE DEVELOPMENT CORP.
Erdene Expands Land Position in Bayan Khundii Gold District; Closes Ulaan
Project Acquisition
Halifax, Nova Scotia – August 30, 2017 – Erdene Resource Development Corp. (TSX:ERD)
("Erdene" or " Company") is pleased to report the closing of its previously announced agreement
(the “Agreement”) to acquire a 51% interest in the Ulaan exploration license , adjacent to the
Company’s high-grade Bayan Khundii gold project, with the option to acquire up to 100%.
The Ulaan exploration license (“Ulaan” or the “Property”), located immediately west of the
Company’s 100% -owned Bayan Khundii gold project license, covers an area of approximately
1,780 hectares. The property hosts a very large, 3 -kilometre diameter, intense alteration zone with
characteristics thought to be related to a porphyry copper and epithermal gold system. Although the
Property has no history of drill ing or trenching, rock chip and stream sediment geochemical
sampling has identified anomalous concentrations of gold, copper and molybdenum in the
surrounding area, and recently completed geophysical surveys have produced a number of follow -
up targets. Ex ploration programs are being formulated with work to commence this quarter. In
addition to planned exploration at Ulaan, the Company continues with drilling programs at its
neighboring, 100%-owned Bayan Khundii, Altan Nar and Altan Arrow gold projects.
Two plan maps of the Ulaan Property have been attached for reference:
Under the terms of the Agreement, Erdene has acquired 51% of the outstanding shares of Leader
Exploration LLC (“Leader”), a private Mongolian company that currently owns the Property, from
Erdenechuluun.Z and Erdenekhuyag.Z for US$750,000. Provided Erdene spends a minimum of
US$600,000 on work expenditures on the Property over the next three years, it has the right to
acquire the remaining 49% of the shares of Leader from Erdenechuluun.Z or, at Erdene’s option, a
portion of the Property, for the then fair market value of the Property or the portion to be acquired.
Erdene may extend the option beyond three years by spending a minimum of US$100,000 per
annum on work expenditures.
About Erdene
Erdene Resource Development Corp. (TSX:ERD) is a Canada-based resource company focused on
the acquisition, exploration, and development of base and precious metals in underexplored and
highly prospective Mongolia. The Company has four exploration licenses and a mining license in
southwest Mongolia. Exploration success has led to the discovery and definition of several 100% -
owned prospects and deposits including the Company’s flags hip and newly discovered, high -grade,
near-surface Bayan Khundii gold project; the 5.6 kilometre long Altan Nar gold -polymetallic
mineralized trend that is host to 18 targets; the Altan Arrow gold -silver prospect; the Khuvyn Khar
copper-silver prospect; and the Zuun Mod molybdenum -copper deposit. For further information on
the Company, please visit www.erdene.com. Erdene ha s 145,963,086 issued and outstanding
common shares and a fully diluted position of 156,592,160 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, 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 cau tions 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 material ly 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 quali fied 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
Ken W. MacDonald, Vice President and CFO
Phone: (902) 423-6419
E-mail: [email protected]
Website: www.erdene.com
Twitter: https://twitter.com/ErdeneRes