Erdene Resource Announces Q2 2026 Results

About this update from Erdene Resource Development Corporation

Q2 2026 Highlights: Bayan Khundii Gold Mine produced and sold 11,709 ounces gold at an average price of US$4,493/oz for US$53M in gross revenues Operated Bayan Khundii at 94% of target throughput and recovered 96% of gold, exceeding expectations Advanced preliminary economic assessment for Zuun Mod molybdenum-copper porphyry project with results expected in mid-H2 2026 Completed maiden drill program at Tereg Uul near Oyu Tolgoi intersecting anomalous gold and silver along a 1.5 kilometre mineralized structure  HALIFAX, Nova Scotia, Aug. 14, 2026 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN; OTCQX: ERDCF) ("Erdene" or the "Company") is pleased to announce operating and financial results for the three and six months ended June 30, 2026, and to provide an update on the Bayan Khundii Gold Mine (“BK”), operated by Erdene Mongol LLC (“EM”), the Company’s joint venture with Mongolian Mining Corporation (“MMC”). This release should be read in conjunction with the Company’s Q2 2026 Financial Statements, MD&A, and Annual Information Form, available on the Company’s website and SEDAR+. All dollars are thousands of Canadian dollars, unless otherwise noted. Peter Akerley, Erdene’s President and CEO stated, “We delivered another quarter of improved performance, achieving gold production of 11,709 ounces at Bayan Khundii, a 37% increase over the previous quarter, driven by stronger mining performance and continued steady operation of the process plant. The average processed ore grade rose 25% during the quarter, reflecting enhanced ore control and mine-to-mill practices that significantly reduced dilution and ore loss.” Mr. Akerley continued, “In parallel, Erdene made strong progress at our wholly-controlled precious and base metal projects in the Khundii and Oyu Tolgoi districts. Technical work is well advanced on the Zuun Mod preliminary economic assessment, expected to be released in mid-H2 2026 with geophysics and drilling planned later this year to test the copper potential of the Khuvyn Khar project on the license. At the Tereg Uul property, adjacent to the Oyu Tolgoi copper-gold system, our maiden drill program confirmed anomalous gold and silver mineralization along a 1.5 kilometre trend at the Web prospect, while deeper drilling intersected native copper and anomalous gold. Based on these encouraging results, we have ex...

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