Mr. Peter Akerley reports

ERDENE ANNOUNCES INTENTION TO LAUNCH NORMAL COURSE ISSUER BID

Erdene Resource Development Corp. intends to launch a normal course issuer bid (NCIB), under which it may purchase up to an aggregate 4.9 million common shares of the company for cancellation, representing approximately 10 per cent of the 49,386,538 public float of common shares as of June 17, 2026. A total of 65,493,042 common shares were issued and outstanding as of June 17, 2026.

The NCIB will commence on June 30, 2026, and will terminate on June 29, 2027, or on an earlier date in the event that the maximum number of common shares sought under the NCIB have been repurchased.

Purchases under the NCIB are expected to be conducted pursuant to open market transactions through the facilities of the Toronto Stock Exchange, other designated exchanges and/or alternative Canadian trading systems at prevailing market prices at the time of acquisition, and made in accordance with the policies of the TSX and the requirements of those other designated exchanges and/or alternative Canadian trading systems. The maximum number of common shares that can be purchased on the same trading day on TSX is 41,011 (25 per cent of the average daily trading volume for the six months ended May 31, 2026, which was 164,046 shares), other than block purchase exceptions. All common shares purchased under the NCIB will be returned to treasury and cancelled.

The company's management and board of directors believe that the market price of the common shares may, at certain times throughout the duration of the NCIB, be undervalued based on Erdene's financial performance and prospects. Accordingly, management of the company considers the NCIB an appropriate and efficient use of capital in order to increase shareholder value.

The company is not obligated to purchase any specific number of common shares under the NCIB. The timing and extent of any purchases will depend on market conditions and other corporate considerations, as determined by management. The company may suspend or terminate the NCIB at any time. The company has not previously completed an NCIB and has not purchased any of its common shares in the last 12 months.

About Erdene Resource Development Corp.

Erdene Resource Development 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 portfolio of precious and base metal projects near the Bayan Khundii gold mine in the Khundii minerals district, which provides a robust organic growth pipeline. Erdene Resource Development is listed on the Toronto (ERD) and the Mongolian stock (ERDN) exchanges and OTCQX Market (ERDCF).

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