Mr. Peter Akerley reports

ERDENE ANNOUNCES RESULTS OF ANNUAL AND SPECIAL MEETING OF SHAREHOLDERS

Erdene Resource Development Corp.'s shareholders voted in favour of all items of business brought before them at the company's annual and special meeting of shareholders held on June 25, 2025, in Halifax, N.S. Details of the meeting are provided below.

Appointment of board and executive

At the meeting, shareholders voted in favour of Erdene management's nominees to the board of directors, with details of the proxy voting results as shown in the attached table.

Additionally, Erdene would like to thank retiring directors David Mosher and Hedley Widdup for their contributions to the company.

Following the meeting, Erdene's board of directors appointed its officers for the coming year, namely: president and chief executive officer -- Peter Akerley; chairman of the board -- T. Layton Croft; chief financial officer -- Robert Jenkins; and corporate secretary -- Suzan Frazer.

Auditor appointed

MNP LLP was appointed auditor of the company to hold office until the next annual general meeting or until its successor is duly appointed, and the directors were authorized to fix the auditor's remuneration.

Approval of termination of the shareholder rights plan

At the meeting, shareholders approved a resolution to amend the company's shareholder rights plan to provide for its termination, effective as of the close of business on June 26, 2025.

Approval of share consolidation

shareholders also approved a special resolution to effect a consolidation of all of the issued and outstanding common shares on the basis of one postconsolidated share for every six preconsolidated shares.

The board of directors has been authorized to determine the effective date of the consolidation or to determine not to proceed with the consolidation, without further approval of shareholders. The company will announce the effective date once it is determined.

The consolidation remains subject to the final approval of the Toronto Stock Exchange. Additional details on the consolidation are set out in the company's management information circular for the meeting, which is available on the company's SEDAR+ profile.

About Erdene Resource Development Corp.

Erdene Resource Development is a Canada-based resource company focused on bringing the Bayan Khundii gold mine into production in late 2025, and on the acquisition, exploration, and development of precious and base metals in underexplored and highly prospective Mongolia. The company has interests in three mining licences and an exploration licence in southwest Mongolia, where exploration success has led to the discovery and definition of the Khundii gold district. Erdene Resource Development is listed on the Toronto and the Mongolian stock exchanges.

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