Mr. Peter Akerley reports

ERDENE RELEASES 2026 SHAREHOLDER LETTER AND PROVIDES INVESTOR UPDATE WEBCAST

Erdene Resource Development Corp. has published its 2026 letter to shareholders written by president and chief executive officer Peter Akerley.

Letter to shareholders

Mr. Akerley, Erdene's president and CEO, stated: "As outlined in my letter to fellow shareholders, last year, Erdene achieved its vision of developing a high-grade gold mine with the commissioning of the Bayan Khundii gold mine. This milestone comes only 10 years after our geologists discovered high-grade gold at surface, making Bayan Khundii one of the fastest projects to make this transition to production in recent memory."

Mr. Akerley continued: "With the Bayan Khundii mine generating cash flow, we are positioned to aggressively advance exploration and development of the broader Khundii minerals district. The combination of near-mine expansion at Bayan Khundii, the district-scale potential of Altan Nar and Zuun Mod, and a strong pipeline of future discovery provides a compelling multidecade growth platform."

Annual and special meeting and investor update webcast details

Erdene will hold its annual and special meeting of shareholders and provide an update to investors on May 28, 2026, at 10 a.m. Atlantic Time, at 1969 Upper Water St., Suite 1300, McInnes Cooper Tower -- Purdy's Wharf, Halifax, N.S. Shareholders who are unable to attend in person may participate by webcast.

A replay of the webcast will be available for one year after the event.

About Erdene Resource Development Corp.

Erdene is a Canada-based resource company producing gold at the high-grade, low-cost Bayan Khundii gold mine in underexplored and highly prospective Mongolia. The company has interests in a highly prospective portfolio of precious and base metal projects in close proximity to the Bayan Khundii gold mine in the Khundii mineral district, which provides a robust organic growth pipeline. Erdene is listed on the Toronto (ERD) and the Mongolian (ERDN) stock exchanges and on the OTCQX market (ERDCF).

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