Erdene Consolidates Khundii Gold District – Acquires 100% of the Ulaan Exploration License

HALIFAX, Nova Scotia, Dec. 10, 2020 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN) ("Erdene" or the "Company") is pleased to announce the acquisition of a 100% interest in the Ulaan exploration license, adjacent to its Bayan Khundii Gold deposit, with the purchase of the remaining 49% interest in Leader Exploration LLC, a private Mongolian company.

Highlights:
	•	Ulaan is one of multiple porphyry and epithermal targets in the Khundii District (see map below)
			•	The Ulaan license hosts a very large hydrothermal alteration system, consistent with a porphyry system eroded to just below the base of a lithocap with the following attributes:
					•	Intense phyllic (quartz-sericite-pyrite) alteration over an area 3 kilometres in diameter
					•	Peripheral gold-copper mineralization associated with tourmaline breccia
					•	Gold identified in quartz veins within illite altered volcanics adjacent to the phyllic zone
	•	Consolidates 100% interest in the majority of the Khundii-Ulaan alteration system hosting multiple epithermal gold and porphyry copper (gold) targets
			•	Ulaan license immediately west of the Bayan Khundii deposit, and Dark Horse and Altan Arrow gold prospects
			•	Expands Erdene’s holdings in the highly prospective Khundii Gold District to 17,004 ha (170 km2)
	•	Minimal exploration to date, but significant geologic potential
			•	Mapping and sampling, geophysical surveying and limited drilling, over the past three years
			•	Surface sampling program recently completed and drilling planned for mid Q1 2021

Quotes from the Company: