Slide 1: Q1 2026 Results Conference Call & Webcast
TSX:ERD | MSE:ERDN | OTCQX:ERDCF www.erdene.com Q1 2026 RESULTS CONFERENCE CALL & WEBCAST MAY 7, 2026
Slide 2: Forward Looking Statement
FORWARD LOOKING STATEMENT This presentation contains certain forward-looking information and statements, including without limitation, statements regarding the Corporation's expectations in respect of its future financial position, business strategy, production at Bayan Khundii, construction and com
Slide 3: Erdene's Speakers
ERDENE’S SPEAKERS Peter Akerley Robert Jenkins President & Chief Financial Officer Chief Executive Officer 3
Slide 4: Q1 2026 Highlights
Q1 2026 HIGHLIGHTS Bayan Khundii Complex* Bayan Khundii Gold Mine • Achieved commercial production with throughput and recovery rates > 90% Exploration • Dark Horse and Altan Arrow drill results expanded high-grade mineralization Exploration & Development** Zuun Mod • 18 drill holes that returned mu
Slide 5: Q1 2026 Highlights: Bayan Khundii Gold Mine: Processing Plant
Q1 2026 HIGHLIGHTS: BAYAN KHUNDII GOLD MINE: PROCESSING PLANT Achieved Commercial Production • Fed 151kt ore in the plant, averaging 1,675 t/d, or 94% of capacity • Gold recoveries > 96%, above forecast of 93% • Sold 8,527 oz gold and 3,135 oz silver, or 15% and 19% higher than in Q4 2025 • Average
Slide 6: Q1 2026 Highlights: Bayan Khundii Mining Operations
Q1 2026 HIGHLIGHTS: BAYAN KHUNDII MINING OPERATIONS Midfield Zone Striker Zone Gold Hill Zone Looking West ©️ 2021 Erdene Resource Development Corp. All rights reserved 6
Slide 7: Khundii Gold District: Exploration Focus and Potential
KHUNDII GOLD DISTRICT: EXPLORATION FOCUS AND POTENTIAL Khundii Mining License • Bayan Khundii hydrothermal complex remains under-explored N Ulaan Exploration License • Exploration has focused on Khundii Resource Expansion Targets West and Dark Horse Q4 2025 Drilling Dark Horse Target Area Section Li
Slide 8: Dark Horse & Altan Arrow: Expansion Potential
DARK HORSE & ALTAN ARROW: EXPANSION POTENTIAL Q1 2026 Drill Results Dark Horse South Intersections Dark Horse North Intersections Altan Arrow Intersections AAD-259 AAD-264 AAD-265 AAD-243 AAD-251 AAD-255 AAD-276 (from 70m) (from 1m) (from 0.7m) (from 97m) (from 90m) (from 77m) (from 8m) 12m of 3.4 g
Slide 9: Khundii West: Extension of Bayan Khundii Gold Deposit
KHUNDII WEST: EXTENSION OF BAYAN KHUNDII GOLD DEPOSIT Opportunity for Significant Expansion ULAAN DEPOSIT STRIKER WEST BAYAN KHUNDII DEPOSIT Top Gold Intersections Top Gold Intersections Top Gold Intersections Drill Hole From To M Au g/t G*M Drill Hole From To M Au g/t G*M Drill Hole From To M Au g/
Slide 10: Altan Nar: High-Grade Polymetallic Deposit
ALTAN NAR: HIGH-GRADE POLYMETALLIC DEPOSIT • 16km north of Bayan Khundii 1430ppb • 5.6km Long Under-explored Mineralized System Gold in Soil Potential to materially increase resources: • Resources are focused in two zones: Discovery Zone and Union North within a 5.6km x 1.5km mineralized corridor •
Slide 11: Zuun Mod: Advancing to Preliminary Economic Assessment
ZUUN MOD: ADVANCING TO PRELIMINARY ECONOMIC ASSESSMENT Zuun Mod • Drill results from 18 holes returned ore-grade Resources Tonnage Mo Grade Cu Grade MoEq Contained Mo Contained Cu MoEq mineralization with ZMD-98 at depths of 450 Classification (Mt) (%) (%) (%) (Mlbs) (Mlbs) (Mlbs) metres intersectin
Slide 12: 100% Owned Exploration Projects
100% OWNED EXPLORATION PROJECTS Khuvyn Khar Tereg Uul • 16km porphyry copper, molybdenum, silver • Large licence in the Oyu system Tolgoi trend: copper-gold • Open at depth with multiple prospects • Q4/Q1: Exploration prospecting, mapping, geophysical and geochemical surveys complete • Drilling comm
Slide 13: Consolidated Q1 2026 Financial Highlights
CONSOLIDATED Q1 2026 FINANCIAL HIGHLIGHTS Erdene Resource Development • Erdene’s share of net income from Erdene Mongol = $7.0 million (Q1 2025 = net loss of $2.1 million) • Exploration and Evaluation: $0.9 million (Q1 2025 = $1.0 million) • Corporate and Administration: $1.4 million (Q1 2025 = $1.5
Slide 14: Safety, Environment & Communities
SAFETY, ENVIRONMENT & COMMUNITIES Job Creation Support Health Services for Local Community • +1000 Direct and indirect job creation • Preventive screening and diagnosis for local community • +300 New jobs for province residents • Programs to improve the quality and accessibility of healthcare Enviro
Slide 15: 2026 Catalysts
2026 CATALYSTS GOLD BAYAN KHUNDII* – ACHIEVING STABLE PRODUCTION • Transitioned to consistent operations and cash flow generation GOLD/COPPER TEREG UUL** – DRILL PROGRAM • Testing targets to unlock new potential GOLD KHUNDII WEST* – EXPANSION TESTING • Evaluating resource growth and mine life extens
Slide 16: Questions?
QUESTIONS? CONTACT US FOR MORE INFORMATION FOLLOW US ON SOCIAL MEDIA Phone (Canada): +1–902–423–6419 ErdeneRes Phone (Mongolia): +976 –7777–8534 Erdene Resource Development Corp. Website: www.erdene.com Email: info@erdene.com TSX:ERD | MSE:ERDN | OTCQX:ERDCF