"Erdene Resource Development Corporation" JSC announces that, further to its announcement of an updated independent Feasibility Study (“FS”) for the high-grade, open-pit Bayan Khundii Gold Project (“BK” or "Project”) in southwest Mongolia, on August 15, 2023, the company has now filed the Technical Report entitled “Bayan Khundii Gold Project, Feasibility Study Update, NI 43-101 Technical Report" with an effective date of August 15, 2023, signed September 25, 2023 (the "Technical Report" or "FS").

The updated FS has been prepared by a consortium of International and Mongolian firms with significant experience operating in Mongolia and internationally, led by O2 Mining Ltd. and Roma Group Ltd. The FS was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects and incorporates updated mineral resources and reserves, including maiden resources and reserves from the high-grade Dark Horse Mane deposit, as well as current capital and operating cost estimates and metal prices.

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