Erdene Resource Development Corporation · TSX:ERD
Erdene Resource Development — Q3 2026 Earnings Presentation
22 slides from Erdene Resource Development's earnings presentation, Nov 5, 2026
Slide 1: Q3 2026 Results Conference Call & Webcast
TSX:ERD | MSE:ERDN | OTCQX:ERDCF www.erdene.com Q3 2026 RESULTS CONFERENCE CALL & WEBCAST NOVEMBER 5, 2026
Slide 2: Forward Looking Statement
FORWARD LOOKING STATEMENT This presentation contains certain forward-looking information and statements, including without limitation, Readers are cautioned that forward-looking information and statements are not guarantees of future statements regarding the Corporation's expectations in respect of
Slide 3: Erdene's Speakers
ERDENE’S SPEAKERS Today’s Presenters Peter Akerley Robert Jenkins President & CEO Chief Financial Officer 3
Slide 4: Khundii Minerals District – Infrastructure Development
KHUNDII MINERALS DISTRICT – INFRASTRUCTURE DEVELOPMENT Emerging Mining District • Growing mining hub with gold, iron and coal mines in under-explored MONGOLIA region adjacent to largest Ulaanbaatar consumer Bayankhongor Trans Altai • Road network being developed to Terrane Shinejinst access raw mate
Slide 5: Khundii Minerals District – Multiple High-Quality Deposits and Prospects
KHUNDII MINERALS DISTRICT – MULTIPLE HIGH-QUALITY DEPOSITS AND PROSPECTS Four Gold Discoveries, Molybdenum-copper Deposit and +20 High-Priority Targets Landsat 8 True Colour Discovered and defined multiple The Khundii Minerals District Arc deposits & prospects since 2010 Related Mineral Systems N Th
Slide 6: Q3 2026 Highlights
Q3 2026 HIGHLIGHTS Steady production, strong cash flow, growth underway Gold Production Positive Cash Flows US$30M debt repaid 11.9 koz gold Zuun Mod 16,500m Strong Cash Position Robust PEA Drill Program Large, long-life Mo-Cu Underway NCIB Underway Project 6
Slide 7: Q3 2026 Highlights – Bayan Khundii Processing Plant
Q3 2026 HIGHLIGHTS Bayan Khundii – Processing Plant • Fed 164 kt ore to the plant, Throughput (t/d) Recoveries averaging 1,788 t/d (6% increase) 2,000 100% 96% 96% 96% 96% 1,788 1,750 1,675 1,682 95% • Gold recoveries of 96%, above 1,500 1,501 90% forecast of 93% 1,250 85% • Produced 11,853 oz gold
Slide 8: Q3 2026 Highlights – Bayan Khundii Mining Operations
Q3 2026 HIGHLIGHTS Bayan Khundii – Mining Operations • Moved 4.0 Mt of material • Mined 415 Kt ore averaging Midfield Zone 1.25 g/t Au • Delivered 164 Kt of ore at an Striker Zone average feed grade of 2.3 g/t Au to plant • Excavated lower grade ore to access high-grade zone for Gold Hill Zone minin
Slide 9: Khundii Gold District – Exploration Focused on Expansion
KHUNDII GOLD DISTRICT Exploration Focused on Expansion – 12,000 metre Drill Program at Bayan Khundii West and Dark Horse • Bayan Khundii hydrothermal complex Khundii Mining License remains under-explored N • Exploration beyond BK is focused on Ulaan Exploration License Khundii West and Dark Horse Re
Slide 10: Bayan Khundii West Expansion
BAYAN KHUNDII WEST EXPANSION 9,000m Drill Program ~50% Complete – Results Expected Q1 2027 Section Viewing East US$3,900/oz Au Pit Outline A B 0.3g/t Gold Outline Striker West Historical Drilling Highlights A Hole From To Interval G/t Au BKD-333 130 178 48 0.3 BKD-339 129 183 54 1.1 BKD-377 106 148
Slide 11: Dark Horse & Altan Arrow Exploration
DARK HORSE & ALTAN ARROW EXPLORATION 3,000m Program Focused on Expansion of Shallow Resource for CIP and Potential Heap Leach Viewing Oblique Northwest Dark Horse North Dark Horse South ≥0.25 g/t AuEq Shell DH Resources Tonnage Grade Au Cont. Au Grade Ag Cont. Ag Classification (Kt) (g/t) (Koz) (g/t
Slide 12: Khundii Gold District – Mine Life Extension Potential
KHUNDII GOLD DISTRICT – MINE LIFE EXTENSION POTENTIAL Combined Gold Resources Provide Path for Longer Life at Bayan Khundii • Current combined resources should Resource Quantity Grade Contained Metal support over 10 years of CIP Deposit Classification Kt Au (g/t) Ag (g/t) Au (Koz) Ag (Koz) operation
Slide 13: Altan Nar Regional Targets
ALTAN NAR REGIONAL TARGETS Exploration Trenching and Drilling Nomin Tal Drill Collar Cu-Au Occurrence Defined Resource Zone Minimal drilling completed 3.2 g/t Exploration Target 11.9 g/t Scout Drilling Only Gold in Rock chip Target ANT-19 TND-02 4m of 1.4 g/t Gold 1m of 4.2 g/t ANT-18 3m of 6.4 g/t
Slide 14: Zuun Mod – PEA Highlights October 2026
ZUUN MOD – ONE OF ASIA’S LARGEST UNDEVELOPED MOLY-COPPER PROJECTS Preliminary Economic Assessment Highlights – October 2026 Robust Economics Large-Scale, Long-Life LOM Production After Tax NPV(8%) = $2.0B Throughput = 25 Mtpa Molybdenum = 672.1 Mlbs IRR = 27.8% Mine life = 34 years Copper = 947.2 Ml
Slide 15: Khundii Minerals District – Infrastructure Development
KHUNDII MINERALS DISTRICT – INFRASTRUCTURE DEVELOPMENT Emerging Mining District • Growing mining hub with gold, MONGOLIA iron and coal mines in under- Ulaanbaatar explored region adjacent to largest consumer Bayankhongor Trans Altai • Road network being developed Terrane Shinejinst to access raw mat
Slide 16: Strong Demand Growth Forecast with Few New Mines in the Pipeline
STRONG DEMAND GROWTH FORECAST WITH FEW NEW MINES IN THE PIPELINE Molybdenum Market Dynamics • Molybdenum is designated a critical or +40% year over year price increase LME / Platts Mo Price strategic mineral by Japan, Korea, China @US$33.45/lb and other countries. 13 kt (est) supply deficit in 2026
Slide 17: Zuun Mod: Resource Expansion Opportunities
ZUUN MOD: RESOURCE EXPANSION OPPORTUNITIES 4,500-Metre Drill Program Underway to Increase Confidence and Expand Resources • Drilling near-surface targets in areas of the Zuun Mod deposit, previously modelled as waste – converting material could meaningfully impact economics in Khuvyn Khar Copper the
Slide 18: Q3 2026 Financial Highlights
Q3 2026 FINANCIAL HIGHLIGHTS Financial Strength Erdene Mongol* Erdene Resource Development CAD million unless otherwise noted Q3-2026 Q2-2026 CAD million unless otherwise noted Q3 2026 Q2 2026 Revenue $71 $75 Income from Associate – EM $10.6 $11.2 Price realized (US$ per oz) - Gold $4,313 $4,493 Ope
Slide 19: Recognizing the Importance of Safety, Environment & Communities
RECOGNIZING THE IMPORTANCE OF SAFETY, ENVIRONMENT & COMMUNITIES Partnering with Local Stakeholders to Improve Livelihoods Job Creation Support Health Services for Local Community • +1000 Direct and indirect jobs created • Preventive screening and diagnosis for local community • +300 New jobs for pro
Slide 20: 2026 – A Year of Delivery
2026 – A YEAR OF DELIVERY Producing gold today, building a district-scale future GRADE CASH FLOW CAPITAL MARKETS Mining into higher-grade Striker & Midfield US$30M project debt repaid in Q3 TSX & MSE listed – a bridge for Canadian zones and Mongolian investors PRODUCER DISTRICT SCALE EXPLORATION ZUU
Slide 21: 2026 Deliverables and Catalysts
2026 DELIVERABLES AND CATALYSTS Executing on our Growth Strategy GOLD BAYAN KHUNDII* – ACHIEVING STABLE PRODUCTION • Transitioned to consistent operations and cash flow generation GOLD/COPPER TEREG UUL *** – DRILL PROGRAM • Tested targets to unlock new potential • Maiden Resource Complete; mining li
Slide 22: 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
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