Erdene Announces Completion of The Environmental and Social Impact Assessment of the Khundii Gold Project

HALIFAX, Nova Scotia, June 04, 2020 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN) ("Erdene" or the "Company") is pleased to announce completion of an independent Environmental and Social Impact Assessment (“ESIA”) for the 100%-owned, high-grade, open-pit Khundii Gold Project (“Project”) in southwest Mongolia. The ESIA was prepared in accordance with the Performance Requirements of the European Bank for Reconstruction and Development (“EBRD”) by Sustainability East Asia LLC (“SEA”), in consortium with Ramboll Australia Pty Ltd (“Ramboll”) and Eco Trade LLC (“Eco Trade”).

Quotes from the Company and the EBRD

“The independent ESIA details Erdene’s commitment to responsible mine development and transparency for all stakeholders,” said Peter Akerley, Erdene’s President and Chief Executive Officer. “This assessment is a decisive point for the evolution of the Khundii Gold Project, which will contribute to the vitality and economic diversification of Bayankhongor province and the development of Mongolia’s hard rock gold mining industry.”

“Disclosing the complete ESIA early alongside the project’s other technical studies allows Erdene to maximize benefits, avoid impacts, and mitigate risks effectively,” said Jon Lyons, Erdene’s Vice-President of Regulatory Affairs and Strategy. “Completed in accordance with leading international standards and Mongolian requirements and made available in both English and Mongolian languages, this ESIA provides our stakeholders with a detailed picture of our company’s commitments to creating shared value.”

Added Eric Rasmussen, the EBRD Director for Natural Resources, “In 2019 the EBRD provided a loan to the Erdene Resource Development Corporation. One of its main purposes was to aid the completion of an ESIA in order to put the Khundii Gold project into operation by 2021. We are very pleased with the quality of this ESIA, which will ensure the highest environmental standards of the project”

ESIA highlights

The Project’s ESIA was prepared independently by Sustainability East Asia LLC, in consortium with Eco Trade LLC and Ramboll Australia Pty Ltd. The ESIA adheres to the Performance Requirements of the EBRD, with due consideration for Mongolia’s statutory assessment requirements. The ESIA followed a comprehensive four-stage process, including impacts scoping, impacts assessment, development of impact mitigation measures, and consideration of cumulative impacts.