Erdene Announces Positive Updated Feasibility Study for the Bayan Khundii Gold Project

NI 43-101 Technical Report Highlights (US$1,800/oz Gold Price)

HALIFAX, Nova Scotia, Aug. 15, 2023 (GLOBE NEWSWIRE) --

Erdene Resource Development Corp. (TSX:ERD; MSE:ERDN) ("Erdene" or the "Company") is pleased to announce results of an updated independent Feasibility Study (“FS”) for the high-grade, open-pit Bayan Khundii Gold Project (“BK” or "Project”) in southwest Mongolia. The FS was prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) and incorporates updated mineral resources and reserves, including maiden resources and reserves from the high-grade Dark Horse Mane deposit (“DH”), as well as current capital and operating cost estimates and metals prices. The updated FS has been prepared by a consortium of International and Mongolian firms with significant experience operating in Mongolia and internationally. The Technical Report, prepared by O2 Mining Limited, pursuant to NI 43-101 guidelines, will be filed on SEDAR within 45 days.

Read more at globenewswire.com