Mr. Eric Sprott, an investor, reports

ERIC SPROTT ANNOUNCES CHANGES TO HIS HOLDINGS IN ERDENE RESOURCE DEVELOPMENT CORPORATION

On Aug. 21, 2025, 2176423 Ontario Ltd., a corporation that is beneficially owned by Eric Sprott, purchased 10,777,116 common shares of Erdene Resource Development Corp. (representing approximately 2.9 per cent of the outstanding shares on non-diluted basis) at a price of 90 cents per share for aggregate consideration of approximately $9,699,404. The shares were purchased by way of private agreement with a single vendor at a price (including brokerage fees or commissions) less than 115 per cent of the market price of the shares in reliance on the private agreement exemption set forth in Section 4.2 of National Instrument 62-104, Take-Over Bids and Issuer Bids.

Prior to the acquisition of shares, Mr. Sprott beneficially owned 72,412,465 shares, representing approximately 19.9 per cent of the outstanding shares on a non-diluted basis. As a result of the acquisition of shares, Mr. Sprott now beneficially owns 83,689,581 shares, representing approximately 22.9 per cent of the outstanding shares on a non-diluted basis. The acquisition resulted in an increase in holdings, on a partially diluted basis, of approximately 2.8 per cent since the date of the last filing of an early warning report.

The shares were acquired for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities, including on the open market or through private acquisitions, or sell the securities, including on the open market or through private dispositions, in the future depending on market conditions, reformulation of plans and/or other relevant factors.

Erdene Resource is located at 170 Cromarty Dr., Suite 200, Dartmouth, N.S., B3B 0G1. A copy of the early warning report with respect to the foregoing will appear on Erdene Resource's profile on SEDAR+ and may also be obtained by calling Mr. Sprott's office at 416-945-3294 (2176423 Ontario, 7 King St. E, Suite 1106, Toronto, Ont., M5C 3C5).