Erdene Announces Intention to Launch Normal Course Issuer Bid

About this update from Erdene Resource Development Corporation

HALIFAX, Nova Scotia, June 26, 2026 (GLOBE NEWSWIRE) -- Erdene Resource Development Corporation (TSX:ERD; MSE:ERDN; OTCQX: ERDCF) ("Erdene" or the "Company") is pleased to announce its intention to launch a normal course issuer bid ("NCIB"), under which it may purchase up to an aggregate 4,900,000 common shares of the Company ("Common Shares") for cancellation, representing approximately 10% of the 49,386,538 public float of Common Shares as of June 17, 2026. 65,493,042 Common Shares were issued and outstanding as of June 17, 2026. The NCIB will commence on June 30, 2026, and will terminate on June 29, 2027, or on an earlier date in the event that the maximum number of Common Shares sought under the NCIB have been repurchased. Purchases under the NCIB are expected to be conducted pursuant to open market transactions through the facilities of the TSX, other designated exchanges and/or alternative Canadian trading systems at prevailing market prices at the time of acquisition, and made in accordance with the policies of the TSX and the requirements of those other designated exchanges and/or alternative Canadian trading systems. The maximum number of Common Shares that can be purchased on the same trading day on TSX is 41,011 (25% of the average daily trading volume for the six months ended May 31, 2026, which was 164,046 shares), other than block purchase exceptions. All Common Shares purchased under the NCIB will be returned to treasury and cancelled. The Company's management and Board of Directors believe that the market price of the Common Shares may, at certain times throughout the duration of the NCIB, be undervalued based on Erdene's financial performance and prospects. Accordingly, management of the Company considers the NCIB an appropriate and efficient use of capital in order to increase shareholder value. The Company is not obligated to purchase any specific number of Common Shares under the NCIB. The timing and extent of any purchases will depend on market conditions and other corporate considerations, as determined by management. The Company may suspend or terminate the NCIB at any time. The Company has not previously completed an NCIB and has not purchased any of its Common Shares in the last 12 months. About Erdene Erdene Resource Development Corporation is a Canada-based resource company producing gold at the high-grade, low-cost Bayan K...

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