Erdene Intersects 30 Metres of 1.25% Copper IN Khuvyn Khar Porphyry System
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ERDENE INTERSECTS 30 METRES OF 1.25% COPPER
IN KHUVYN KHAR PORPHYRY SYSTEM
Highlights:
• Intersected 65 metres averaging 0.63% copper (“Cu”) and 2.9 g/t silver (“Ag”)
mineralization, including 30 metres averaging 1.25% Cu and 6.1 g/t Ag
• Mineralized zone extends from 238 meters downhole, ending in mineralization at
450 metres, characterized by moderate to intense potassic alteration with
associated copper mineralization
• Hole is three kilometres from the Zuun Mod molybdenum-copper deposit and
interpreted to be part of the same porphyry system
• Located on a wholly owned mining license 35 kilometres east of the Bayan Khundii
Gold Mine in southwest Mongolia, approximately 200 kilometres from China
• Further exploration planned in 2026 to test the potential of the Khuvyn Khar copper
porphyry system at depth
Press Release
Halifax, Nova Scotia
2026.01.14
Erdene Resource Development Corporation (TSX: ERD | OTC: ERDCF | MSE: ERDN)
(“Erdene” or the “Company”) is pleased to announce results from drilling at its wholly
owned Khuvyn Khar copper-silver prospect, located three kilometres northwest of the
Zuun Mod (“ZM”) deposit and 35 kilometres east of the Bayan Khundii Gold Mine, in the
Khundii Minerals District in southwestern Mongolia (See Figures 1 and 2).
Quotes from the Company
Peter Akerley, Erdene’s President and CEO stated, “Today’s drill results confirm a
substantial copper component to the Khuvyn Khar porphyry system beyond the
molybdenum-copper deposit defined at the nearby Zuun Mod project. This copper
mineralized zone is characteristic of the upper levels of a copper porphyry system.”
Mr. Akerley continued, “Khuvyn Khar and Zuun Mod are located approximately 200
kilometers from China, the world’s largest copper and molybdenum consumer. The
Khuvyn Khar license lies within a region in Mongolia that has seen significant recent
infrastructure investments, supporting development of large-scale projects in the Khundii
Minerals District.”
Mr. Akerley concluded, “With the Bayan Khundii gold mine in production, we are now
expanding our exploration efforts in the Khundii Minerals District. Advanced geophysical
surveys and drilling are planned for 2026 to follow up on today’s exciting results from
Khuvyn Khar. Concurrently exploration is underway to expand gold resources near the
Bayan Khundii mine operated in a strategic alliance with Mongolian Mining Corporation
(“MMC”).”
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Khuvyn Khar & Zuun Mod Drill Program – Q4 2025
A 3,362-metre, 24-hole drill program was recently completed on the wholly-owned
Khuvyn Khar license, which hosts the Khuvyn Khar copper porphyry system, including
the Zuun Mod molybdenum-copper deposit.
The program included 18 holes testing the upper 150 metres of the Zuun Mod deposit,
and one hole extension, seeking to improve confidence and continuity of ore grade
molybdenum (“Mo”) mineralization. A further three scout holes were drilled to follow-up
on a new gold zone on the license, 3.8 kilometres west of the Zuun Mod deposit, and two
holes were drilled to test copper porphyry targets, including ZMD-162. With the exception
of ZMD-162, reporting of assay results is pending. Results for the Zuun Mod deposit
drilling will be incorporated into a preliminary economic assessment, scheduled to be
delivered in mid-2026.
Today’s release highlights exploration hole ZMD-162 in the Khuvyn Khar (“KK”) copper
target, three kilometres northwest of the Zuun Mod deposit (See Figure 3). ZMD-162
follows up on a high-grade copper intersection, ZMD-121, which intersected 34 meters of
1.3% copper and 9.2 g/t silver starting at 308 metres, completed in December 2010.
Khuvyn Khar exhibits the characteristics of a copper (“Cu”) porphyry system including
alteration assemblages, vein types and Cu-Mo ratios. The Zuun Mod Cu-Mo deposit is
interpreted as a molybdenum rich zone within this large copper porphyry system.
Exploration to date on the copper-rich portion of the system has intersected anomalous
copper mineralization over an expansive area, characterized by the following:
• The KK copper porphyry system covers approximately 20 square kilometers
• The system is fertile for copper, molybdenum and silver mineralization (possibly
gold, as demonstrated by anomalous gold miner alization identified along the
periphery of the surface alteration zone);
• The interpreted level of erosion of the KK porphyry system, an important factor in
older porphyry systems like KK, is such that the core of the system is expected to
be preserved:
• High-grade copper mineralization has been intersected, including in ZMD-162, as
reported in this release and ZMD-121;
• Large areas of the system remain untested by drilling and no part of the Khuvyn
Khar copper prospect has been tested below 500 metres depth (See Figures 3
and 4);
• Average drilling depth at the Zuun Mod Mo-Cu deposit is 370 metres with a single
hole in the molybdenum deposit extended to 852 metres depth, which ended in
mineralization; (ZMD-57) (See Figure 4);
• Mineralized porphyry systems can extend vertically for kilometres, including at the
Oyu Tolgoi deposit, located in Mongolia, 670 kilometres to the east, where
mineralization extends beyond 2,000 metres and is open at depth (See Figure 4).
With a renewed focus on developing resources outside Bayan Khundii, now that the
Bayan Khundii Gold Mine is in operation, the Company is planning to undertake
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aggressive exploration in 2026 to test the potential of the Khuvyn Khar copper porphyry
system at depth (See Figures 3 and 4).
Khuvyn Khar Drilling Results
The northern portion of the Khuvyn Khar copper porphyry complex hosts a large area of
disseminated copper mineralization associated with a multi-kilometre-scale zone
(approximately 20 square kilometre footprint) of hydrothermal altered intrusive units and
breccias. Multiple copper-mineralized zones have been previously intersected in wide-
spaced drilling. Copper mineralized intervals include hydrothermally altered intrusive
breccias with potassic altered and mineralized fragments suggesting a deeper source of
the mineralization. The highest-grade copper mineralization previously reported was in
hole ZMD-121 that intersected 34 metres of 1.3% copper and 9.24 g/t silver from 308 to
342 metres, vertical depth.
Drill hole ZMD-162 was designed to expand on the mineralization intersection in ZMD-
121, completed in late 2010. ZMD-162 was collared 125 metres from ZMD-121 and drilled
on a southwest azimuth, toward ZMD-121, and intersected the reported mineralized
interval at 286 metres (269 metres vertical depth), returning 65 metres of 0.63% copper
and 2.9 g/t silver mineralization, including a higher grade zone of 30 metres averaging
1.25% Cu and 6.1 g/t Ag. The altered and mineralized zone extends from 238 meters
downhole to the end of the hole at 450 metres, characterized by moderate to intense
potassic alteration with associated chalcopyrite (Cu) and pyrite mineralization. Zones of
highest copper and silver mineralization are within quartz potassium-feldspar granite with
sulphide content of 5 to 40%.
Summary of Significant Assay Results
Hole ID From To Interval1 Cu % Ag g/t
ZMD-162 286 351 65 0.63 2.9
Including 298 328 30 1.25 6.1
1Reported intervals in this release are downhole apparent widths. Continued exploration is required to confirm anisotropy of
mineralization and true thicknesses
The copper and silver mineralization intersected in ZMD-121 and ZMD-162 is associated
within intrusive rocks exhibiting magmatic textures commonly found in the upper portions
(cupola zone) of a porphyry system. The presence of these cupola textures and
associated copper mineralization indicates a well mineralized hydrothermal system exists
at Khuvyn Khar at a level of erosion that indicates the center of the mineralized porphyry
system should be preserved and not eroded away. It is common for mineralization in
large porphyry systems, that develop over millions of years, to extend over 100s and even
1000s of metres of depth and over large areas. For example, the mineralization in the
Oyu Tolgoi deposit, located in southern Mongolia, 670 kilometres to the east, extends
over a strike distance of over 12 kilometres and from surface to over 2000 metres depth.
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About the Zuun Mod Molybdenum-Copper Project
The Zuun Mod Molybdenum-Copper Project is in Bayankhongor Province, Mongolia, 180
kilometres northwest of a major mining district and the border with China, the world’s
largest copper and molybdenum consumer and steel producer. The 100% owned 6,041-
hectare mining license, underpinning the Project, was issued in 2011 and is valid for up
to an additional 60 years. The Project is located approximately 35 kilometres east of
Erdene’s Bayan Khundii Gold Project.
Erdene undertook a multi-year exploration program outlining the Zuun Mod molybdenum-
copper deposit, within the large Khuvyn Khar copper porphyry complex and identified
multiple copper and molybdenum prospects, within the outer rim of the 16-kilometre
circumference porphyry complex. Given the Company’s focus on its gold projects in
recent years, only modest exploration and technical studies have been conducted over
the Khuvyn Khar license since 2011.
In October 2025, Erdene released an updated resource statement for the Zuun Mod Mo-
Cu deposit. The updated mineral resource includes Measured and Indicated resources
of 271.1 million tonnes (“Mt”) grading 0.056% Mo and 0.064% Cu (0.073% Moly
Equivalence (“MoEq”)) for 439.2 million pounds (“Mlbs”) MoEq. As well as an Inferred
resource of 269.1 Mt grading 0.051% Mo and 0.059% Cu (0.070% MoEq) for 416.3 Mlbs
MoEq. The cut-off grade for the resource is 0.035% Mo and constrained to a conceptual
pit based on US$22/lb Mo. The MoEq was calculated using the following formula: MoEq%
= Mo % + Cu % * 0.27504 and assumes 83% Mo and 81% Cu metallurgical recoveries.
Please refer to the Company’s October 10, 2025 press release for further details.
Qualified Person
Peter Dalton, P.Geo. (Nova Scotia), Senior Geologist 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. All samples have been assayed at
SGS Laboratory in Ulaanbaatar, Mongolia. In addition to internal checks by SGS
Laboratory, the Company incorporates a QA/QC sample protocol utilizing prepared
standards and blanks. All samples undergo combined multi -element ICP-OES
(Inductively coupled plasma optical emission spectroscopy).
Erdene’s drill core sampling protocol consisted of collection of samples in 1 to 2 metre
intervals over the entire length of the drill hole, excluding minor post-mineral lithologies
and dykes as required. Sample intervals were based on meterage, not geological controls,
or mineralization. All drill core was cut in half with a diamond saw, with half of the core
placed in sample bags and the remaining half securely retained in core boxes at Erdene’s
Bayan Khundii exploration camp. All samples were organized into batches of 30 including
a commercially prepared standard, blank and either a field duplicate, consisting of two
quarter-core intervals, or a laboratory duplicate. Sample batches were periodically
shipped directly to SGS in Ulaanbaatar.
Reported intervals are apparent thicknesses, i.e., downhole widths. The Zuun Mod drill
hole (reported in this release) was dipping at 70 degrees. Additional study is required to
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confirm true widths. Reported grades for intervals are weighted averages based on
length of sampling intervals. No top cut has been applied.
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
OTCQX Market (“ERDCF”). 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 several 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 cond itions. 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 oblig ation 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]
Twitter: https://twitter.com/ErdeneRes
Facebook: https://www.facebook.com/ErdeneResource
LinkedIn: https://www.linkedin.com/company/erdene-resource-development-corp-/
FOCUSED ON THE UNDER-EXPLORED TRANS ALTAI TERRANE IN
SOUTHWESTERN MONGOLIA
20 km
Landsat 8 True Colour Shallow, High-Grade, Gold and Polymetallic Deposits and Prospects
Significant opportunity to extend mine-life:
Three other deposits delineated within vicinity and +20 additional prospects
Exploration License
Mining License
Prospect
Deposit
Au
Cu
Mo
Bayan Khundii Gold Mine
Discovered:2015
High-grade, open-pit gold project;
>600koz >2.5g/t Au resource
Ulaan SE Gold Discovery
Discovered:2021
Blind-top discovery
Discovered:2012
Gold polymetallic deposit
>500koz Au resource @ ~ 2g/t
Altan Nar Gold DepositN
KHUNDII MINERALS DISTRICT – MULTIPLE HIGH-QUALITY DEPOSITS AND PROSPECTS
Four Gold Discoveries, Molybdenum-Copper Deposit and +20 High Priority Targets
50% INTEREST +ROYALTY
100%INTEREST
Zuun Mod Molybdenum & Copper Deposit
Largest advanced, undeveloped molybdenum-
copper project in Asia; >600Mlbs molybdenum
Dark Horse Gold Deposit
Discovered: 2021
High-grade, near surface discovery
62koz @ 2.8g/t Au resource
Copper Porphyry System
Khuvyn Khar
Khuvyn Khar Copper discovery
0.63% Copper over 65 metres
(ZMD-162)
2 km
Copper in soil anomaly
Zuun Mod Deposit Tonnage Mo Grade Cu Grade MoEq Contained Mo Contained Cu MoEq
Classification (Mt) (%) (%) (%) (Mlbs) (Mlbs) (Mlbs)
Measured 45.8 0.057 0.062 0.074 57.7 62.2 74.8
Indicated 225.3 0.056 0.065 0.073 275.9 322.0 364.4
M&I 271.1 0.056 0.064 0.073 333.5 384.2 439.2
Inferred 269.1 0.051 0.059 0.070 300.0 350.7 416.3
Zuun Mod Deposit Mo-Cu
Copper in Soil (ppm)
50
>400
KHUVYN KHAR PORPHYRY SYSTEM: 20km² CIRCULAR COPPER ANOMALY
Multi-phase Metal Complex: Molybdenum -Copper and Copper-Silver
N