Erdene Resource Development Corporation · TSX:ERD
Erdene Resource Development — Investor Presentation (October 2026)
36 slides from Erdene Resource Development's investor presentation, October 2026
Slide 1: The Khundii Minerals District
TSX:ERD | MSE:ERDN | OTCQX:ERDCF THE KHUNDII MINERALS DISTRICT BAYAN KHUNDII GOLD MINE PROVIDES FOUNDATION FOR GROWTH Q4 2026 www.erdene.com
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: High-Grade Gold Producer in a New Minerals District
HIGH-GRADE GOLD PRODUCER IN A NEW MINERALS DISTRICT A Compelling Investment Proposition NEW MINERALS DISTRICT SUPPORTS LONG-TERM GROWTH • Systematic exploration since 2009 has led to the definition of the Khundii Minerals District – one of the most prospective new gold-copper regions in Asia HIGH-GR
Slide 4: Discovery of the Khundii Minerals District in the Central Asian Orogenic Belt
DISCOVERY OF THE KHUNDII MINERALS DISTRICT IN THE CENTRAL ASIAN OROGENIC BELT Focused on The Under-explored Trans Altai Terrane In Southwestern Mongolia Central Asian Orogenic Belt – one of the most fertile gold and copper belts globally Highly prospective terrane First movers in unexplored region D
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: Growth Opportunities – Five-Year Development Plan
GROWTH OPPORTUNITIES – FIVE-YEAR DEVELOPMENT PLAN Four Gold Discoveries, Molybdenum-copper Deposit and +20 High Priority Targets Bayan Khundii Gold Mine Khundii Gold Investment Steady State Production Expansion Programs Decisions >75,000 oz Au/yr Develop additional reserves Khundii expansion 2026 th
Slide 7: Alliance with Mongolia's Leading Independent Miner
ALLIANCE WITH MONGOLIA’S LEADING INDEPENDENT MINER Strategic Partner with Capital and Operational Experience 50:50 partnership with Mongolian ERDENE RESOURCE DEVELOPMENT CORPORATE STRUCTURE – STRATEGIC ALLIANCE Mining Corporation (MMC) on gold projects TSX : ERD | MSE : ERDN Erdene maintains a 5% ne
Slide 8: Strategic Partnership with Mongolian Mining Corporation
STRATEGIC PARTNERSHIP WITH MONGOLIAN MINING CORPORATION MCS Group, a Mongolian conglomerate – MMC’s largest shareholder MMC is Mongolia’s largest publicly traded miner MCS is one of Mongolia’s largest conglomerates • Listed on the Hong Kong Stock Exchange main board (HKEX: 975) • 30-year history ope
Slide 9: Bayan Khundii Gold Mine
BAYAN KHUNDII GOLD MINE Open-pit Mine, Carbon in Pulp Leach Plant, Dry Tailings Facility, New Overhead Transmission Line INTEGRATED WASTE FACILITY • Dry stacked tailings • Lined cells surrounded by waste rock conserving >80% of water used CARBON IN PULP (CIP) PROCESS PLANT • 1,950 tonnes per day • G
Slide 10: Bayan Khundii Gold Mine – Operating Highlights
BAYAN KHUNDII GOLD MINE Operating Highlights Since First Pour • 650,000 tpa CIP plant constructed in 22 months for US$120M, commenced gold production in September 2025 • Targeting >75,000 ounces per annum • Run of Mine ore averaging 2 g/t Au during ramp-up – increasing towards target grade of 3.5 g/
Slide 11: Bayan Khundii Epithermal System
BAYAN KHUNDII EPITHERMAL SYSTEM Significant Opportunity To Extend Mine Life – Over 10km of Mineralized Structure with Multiple Expansion Targets Khundii Mining License Bayan Khundii hydrothermal complex remains under-explored N Ulaan Exploration License Exploration has focused on Dark Horse and Khun
Slide 12: Bayan Khundii and Dark Horse Reserves
BAYAN KHUNDII AND DARK HORSE RESERVES Incorporating Dark Horse Beginning in 2027 N DH Reserves Tonnage Grade Au Cont. Au Grade Ag Cont. Ag Classification (Kt) (g/t) (Koz) (g/t) (Koz) Probable 350 5.3 60 2.5 28 Total 350 5.3 60 2.5 28 BK Reserves Tonnage Grade Au Cont. Au Grade Ag Cont. Ag Classifica
Slide 13: Bayan Khundii Exploration
BAYAN KHUNDII EXPLORATION 9,000m Drill Program Underway at Khundii West – Opportunity for Significant Expansion Section Viewing East US$3,900/oz Au Pit Outline A B 0.3g/t Au Outline Striker West Historical Drilling A Hole From To Interval g/t Au BKD-333 130 178 48 0.3 BDK-339 129 183 54 1.1 BDK-377
Slide 14: 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 South Intersections Dark Horse North Intersections Altan Arrow Intersections AAD-259 AAD-264 AAD-265 AAD-243 AAD-251 AAD-255 AAD-276 (fro
Slide 15: Altan Nar – High-Grade Polymetallic Deposit
ALTAN NAR – HIGH-GRADE POLYMETALLIC DEPOSIT 16KM NORTH OF BAYAN KHUNDII 5.6km Long Under-explored Mineralized System 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 • +20 mineralized target a
Slide 16: 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 17: 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 Resource Quantity Grade Contained Metal • Current combined resources Classification Deposit Kt Au (g/t) Ag (g/t) Au (Koz) Ag (Koz) should support over 10 years of Measured BK 1
Slide 18: Zuun Mod – One of Asia's Largest Undeveloped Moly-Copper Projects
ZUUN MOD – ONE OF ASIAS’S LARGEST UNDEVELOPED MOLY-COPPER PROJECTS Preliminary Economic Assessment Highlights – October 2026 Robust Economics Large-Scale, Long-Life LOM Production After Tax NPV(8%) = $2.0B Throughput = 25 Mtpa Molybdenum = 672.1 Mlbs IRR = 27.8% Mine life = 34 years Copper = 947.2 M
Slide 19: Zuun Mod Molybdenum-Copper Project
ZUUN MOD MOLYBDENUM-COPPER PROJECT Surfacing Project Value • Low strip, large-scale, open-pit deposit Zuun Mod Tonnage Mo Grade Cu Grade MoEq Contained Mo Contained Cu MoEq delivering Mo and Cu concentrate to Resources the Asian market Classification (Mt) (%) (%) (%) (Mlbs) (Mlbs) (Mlbs) Measured 67
Slide 20: Zuun Mod – Preliminary Economic Assessment
ZUUN MOD – PRELIMINARY ECONOMIC ASSESSMENT Financial Highlights – Strong Base Case Economics and Significant Upside at Spot Prices After-Tax Economic Metrics Base Case Spot Prices NPV 8% US$M 745.1 1,980.7 IRR % 16.1% 27.8% Payback Period production year 6 4 Pre-Production Capex US$M 686.8 NPV / Cap
Slide 21: Molybdenum Market Overview
MOLYBDENUM MARKET OVERVIEW Strong Demand Growth Driven by Infrastructure, Energy Transition and Technology 30 30 LME / Platts Mo Price SURPLUS / DEFICIT (KT 20 25 @US$33.45/lb – September 2026 MO PRICE ($/LB) 10 20 MO) 0 15 >50% Mo Concentrate (Chinese) -10 10 @ US$32.50/lb – September 2026 -20 5 -3
Slide 22: Khuvyn Khar – Porphyry Copper, Molybdenum, Silver System
KHUVYN KHAR – PORPHYRY COPPER, MOLYBDENUM, SILVER SYSTEM 35 km West of Bayan Khundii – Open at Depth with Multiple Prospects within and outside of Current Mineralized Envelope • The Khuvyn Khar complex is a multi-episodic intrusive copper-porphyry system • The Zuun Mod deposit is a molybdenum domina
Slide 23: Tereg Uul Copper-Gold Porphyry Prospect
Ulaan Khud TEREG UUL COPPER-GOLD PORPHYRY PROSPECT 10 kms Southwest of Oyu Tolgoi Along Trend N OYU TOLGOI • Entered option agreement to Hugo Dummet acquire up to 80% of Tereg Uul in Ulaanbaatar Q2 2025 • Exploration License (>6,600 Khundii Minerals Kharmagtai Heruga North hectares) located ~10km SW
Slide 24: 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 25: Strong Financial Position, Returns & Shareholder Base
STRONG FINANCIAL POSITION, RETURNS & SHAREHOLDER BASE Majority of Shares Held by Institutions, Family Offices and Cornerstone Investor CAPITAL STRUCTURE* /as of October 1, 2026/ 31% Shares issued and outstanding 65 M 38% Retail Options 3M Institutions & DSUs 2M Family Offices Fully diluted 70 M Mark
Slide 26: Value Creation Plan
VALUE CREATION PLAN Four Gold Discoveries, Molybdenum-copper Deposit and +20 High Priority Targets THE FUTURE: GOLD, COPPER, MOLYBDENUM, SILVER, LEAD & ZINC PRODUCTION SUSTAIN BAYAN KHUNDII PRODUCTION • Produce >75,000 oz per Annum • 2026-2028 Develop Additional Reserves and Assess Plant Expansion E
Slide 27: 2026 Deliverables and Catalysts
2026 DELIVERABLES AND CATALYSTS Executing on 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 licens
Slide 28: Appendix
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Slide 29: Bayan Khundii Mineral Resources
BAYAN KHUNDII MINERAL RESOURCES High-Grade, Open-Pit Deposit – Depleted to July 1, 2026 Bayan Khundii Resources Quantity Au Grade Ag Grade Contained Au Contained Ag Classification (Kt) g/t g/t (Koz) (Koz) Measured 2,991 2.13 1.1 204 108 Indicated 4,816 1.66 1.2 257 182 M&I 7,807 1.84 1.2 462 290 Inf
Slide 30: Bayan Khundii Mineral Reserves
BAYAN KHUNDII MINERAL RESERVES High-Grade, Open-Pit Deposit – Depleted to July 1, 2026 Bayan Khundii Reserves Quantity Au Grade Ag Grade Contained Au Contained Ag Classification (Kt) g/t g/t (Koz) (Koz) Proven 2,788 2.11 1.1 189 99 Probable 4,928 1.51 1.1 239 179 Total 7,716 1.73 1.1 428 278 Notes:
Slide 31: Dark Horse Mineral Resources
DARK HORSE MINERAL RESOURCES Bayan Khundii Satellite Deposit – Scheduled To Be Mined from 2027 Dark Horse Resources Quantity Au Grade Ag Grade Contained Au Contained Ag Resource Classification (Kt) g/t g/t (Koz) (Koz) Indicated Oxide 909 2.12 1.8 62 52 Transitional 481 1.07 1.4 17 22 Fresh 17 3.28 2
Slide 32: Dark Horse Mineral Reserves
DARK HORSE MINERAL RESERVES Bayan Khundii Satellite Deposit – Scheduled to be Mined from 2027 Dark Horse Reserves Quantity Au Grade Ag Grade Contained Au Contained Ag Classification (Kt) g/t g/t (Koz) (Koz) Probable Oxide 544 3.17 2.0 55 34 Transitional 224 1.40 1.5 10 11 Fresh 7 4.47 3.0 1 1 Total
Slide 33: Altan Nar Mineral Resources
ALTAN NAR MINERAL RESOURCES High-Grade Deposit 16km North of Bayan Khundii Complex Altan Nar Resources Quantity Grade Contained Metal Au Ag Zn Pb AuEq Au Ag Zn Pb AuEq Resource Classification (Kt) g/t g/t % % g/t Koz Koz Kt Kt Koz Indicated Oxide 704 1.56 10.3 0.5 0.8 1.88 35 234 4 6 43 Fresh 6,161
Slide 34: Ulaan Mineral Resources
ULAAN MINERAL RESOURCES Deposit Immediately West of Bayan Khundii Ulaan Resources Quantity Au Grade Ag Grade Contained Au Contained Ag Classification (Kt) g/t g/t (Koz) (Koz) Indicated 2,262 1.30 0.9 94 68 Inferred 1,539 1.10 0.6 54 28 Notes: 1. CIM (2014) definitions were followed for the Mineral R
Slide 35: Zuun Mod Resources
ZUUN MOD RESOURCES Porphyry Complex Measuring 16km in Circumference Zuun Mod Resources Tonnage Mo Grade Cu Grade MoEq Contained Mo Contained Cu MoEq Classification (Mt) (%) (%) (%) (Mlbs) (Mlbs) (Mlbs) Measured 67.2 0.051 0.061 0.067 75.0 90.5 99.9 Indicated 339.9 0.047 0.062 0.064 352.0 463.2 479.4
Slide 36: Contact Us for More Information
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 ©️ 2021 Erdene Resource Development Corp. All rights
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