Erdene Appoints Byambasaikhan Bayanjargal to its Board of Directors

HALIFAX, NOVA SCOTIA--(Marketwired - March 21, 2018) - Erdene Resource Development Corp. (TSX:ERD) ("Erdene" or "Company") is pleased to announce the appointment of Byambasaikhan Bayanjargal to the Company's Board of Directors. Mr. Bayanjargal will serve as a non-executive, independent member of the Erdene board, effective immediately.

"As our Company enters its next stage of growth, we are very pleased to welcome Byambasaikhan to our Board, who brings with him extensive experience in the banking, energy, mining, and infrastructure sectors of Mongolia and Central Asia," said Peter Akerley, Erdene's President and CEO. "Byambasaikhan's impressive background in the region will bring great value to our Board while we continue to carry out our strategy of becoming Mongolia's premier gold explorer and developer."

Byambasaikhan Bayanjargal has 20 years of professional experience in managing and closing several landmark energy, infrastructure and mining transactions in emerging Asian markets.

Byambasaikhan was CEO of Newcom Group, a premier Mongolian technology investor, and chaired the boards of its several joint-ventures, including MobiCom Corporation, Mongolia's largest telecom operator, and Clean Energy LLC. He managed and built Mongolia's first Independent Power Producer (IPP), a US$120 million, 50 megawatt wind farm in 2012. Byambasaikhan also served as the CEO of Erdenes Mongol, Mongolia's sovereign wealth management company, where he chaired multiple mining company boards. Prior this this, he was a banker at the Asian Development Bank, developing and financing power generation, transmission and distribution projects in Central Asia, including a US$1.2 billion, 900 megawatt power plant in Uzbekistan.

Mr. Bayanjargal is currently serving as the Managing Partner of NovaTerra LLC, an investment management firm that he co-founded in 2013. NovaTerra has completed several transactions in the region, including an investment by the National Bank of Canada in a Mongolian commercial bank, marking the first strategic investment by a foreign commercial bank in Mongolia. Byambasaikhan also chairs the Business Council of Mongolia, an association of 250 international and Mongolian investors. He is a trustee of the National University of Mongolia, Zorig Foundation USA, and the Arts Council of Mongolia, and serves as honorary consul of South Africa in Mongolia. Byambasaikhan is a graduate of the National University of Mongolia, and the George Washington University. In 2014, he was recognized as a Young Global Leader by the World Economic Forum.