Mr. Peter Akerley reports

ERDENE COMPLETES SHARE CONSOLIDATION

Further to Erdene Resource Development Corp.'s news release dated Aug. 25, 2025, the company has completed the consolidation of its issued and outstanding common shares on the basis of one postconsolidation common share for every six preconsolidation common shares. The consolidation has reduced the number of issued and outstanding common shares from 366,351,958 common shares to 61,063,549 common shares, effective Sept. 2, 2025. As previously announced, no fractional common shares were issued in connection with the consolidation and fractional common shares resulting from the consolidation were rounded up to the nearest whole common share.

The common shares are expected to begin trading on the Toronto Stock Exchange (the TSX) on a postconsolidation basis at markets open on Sept. 5, 2025, and on the Mongolian Stock Exchange (the MSE) during the week of Sept. 8, 2025. Trading of the common shares will remain halted on the MSE until trading begins on a postconsolidation basis. The common shares will continue to trade on the TSX under the stock symbol ERD and on the MSE under the stock symbol ERDN under a new Cusip: 29480N404 and new ISIN: CA29480N4049.

The company's transfer agent is mailing a letter of transmittal to each registered shareholder. The letter of transmittal contains instructions on how to surrender to the transfer agent the certificate(s) representing the preconsolidation common shares. The transfer agent will send to each registered shareholder who follows the instructions provided in the letter of transmittal a new share certificate representing the number of postconsolidation common shares to which the shareholder is entitled rounded up to the nearest whole number or, alternatively, a DRS advice/statement representing the number of postconsolidation common shares the shareholder is entitled rounded up to the nearest whole number following the consolidation. No action is required by beneficial shareholders of the company to receive postconsolidation common shares in connection with the consolidation. Beneficial shareholders who hold their preconsolidation common shares through intermediaries )for example, a broker, bank, trust company investment dealer or other financial institution) and who have questions regarding how their common shares will be processed in connection with the consolidation should contact their intermediaries.

The exercise price and the number of common shares issuable upon the exercise or settlement of the company's currently outstanding stock options and deferred share units, issued pursuant to the company's omnibus equity incentive plan and legacy incentive stock option and deferred share unit plans, have been proportionately adjusted to reflect the consolidation in accordance with their respective terms. In addition, the number of common shares reserved for issuance under the company's omnibus plan has been reduced proportionately to reflect the consolidation.

Further details regarding the consolidation are contained in the company's management information circular dated May 20, 2025, which is available on SEDAR+ under the company's profile.

About Erdene Resource Development Corp.

Erdene Resource 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 two exploration licences in 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 and OTCQB Venture Market.

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