Erdene Commences 18,000 Metre Drill Program at the Khundii Gold District

Multiple areas to be drilled as part of ongoing district expansion program

Highlights¹:

• Drilling commenced at Bayan Khundii on Monday, August 17 with a second drill rig scheduled to be operating the week of August 24
  • Phase I includes ~ 8,700 metres of drilling at Bayan Khundii (“BK”) and Dark Horse
    • The first drill rig is focused on BK with drill plans for ~ 4,800 metres in ~30 holes in areas within the economic pit, outside the economic pit and beyond the boundaries of the pit-constrained resource outlined in the BK Bankable Feasibility Study
      • BK drilling will include follow up in two new shallow, high-grade discovery areas
        • Striker SW: BKD-292 intersected 15 metres of 29 g/t gold including one metre of 353 g/t gold
        • Midfield SE: BKD-288 results included 5.5 metres of 125.9 g/t, including 1 metre of 581.6 g/t gold
    • The second drill rig will begin a Phase I, 10 hole, 1,200 metre program at the Dark Horse prospect
      • Drilling will initially focus on the main structure and areas of recent trench results which included: 6 metres grading 8.8 g/t gold, including 1 metre of 50.8 g/t gold and 4 metres of 14 g/t gold, including 1 metre of 45.3 g/t gold, in KMT-01 and KMT-03, respectively
      • An additional 2,700 metres (~15 holes) following up on initial results, will be drilled at BK and Dark Horse, completing Phase I by early October
  • Phase II Program: ~9,000 metre program scheduled to begin in mid-October
    • Details will be finalized following the review and interpretation of Phase I results from BK and Dark Horse, and will include Altan Nar and Ulaan drilling where targeting is currently in progress

HALIFAX, Nova Scotia, Aug. 18, 2020 (GLOBE NEWSWIRE) -- Erdene Resource Development Corporation (TSX:ERD | MSE:ERDN) (“Erdene” or the “Company”) is pleased to announce commencement of drilling at its 100%-owned Khundii Gold Project licenses.