Erdene Announces Q2 2025 Results

Core Viewpoint - Erdene Resource Development Corp. is making significant progress in the construction and development of the Bayan Khundii Gold Project, with expectations for first gold production in late Q3 2025 and commercial production by the end of 2025 [2][5]. Construction and Production Update - The construction of the Bayan Khundii Gold Mine complex is substantially completed as of June 30, 2025 [5]. - Final permits have been received, and commissioning is progressing well, with first gold pour anticipated in late Q3 2025 [2]. - Mining operations and processing plant infrastructure received construction approvals on June 12, 2025 [5]. Drilling and Exploration Results - Ore-control drilling at the Bayan Khundii project has returned excellent results, expanding mineralized zones and intersecting high-grade mineralization [2]. - A total of 201 reverse circulation holes were completed, with 76% of holes intersecting gold values exceeding 0.3 g/t [7][9]. - Notable high-grade results include 6 meters of 481.9 g/t Au and 5 meters of 73.5 g/t Au [7][9]. Financial Performance - The company recorded a net loss of CAD 4,122,330 for the three months ended June 30, 2025, compared to a net loss of CAD 1,868,814 for the same period in 2024 [7]. - Exploration and evaluation expenses totaled CAD 514,224, a decrease from CAD 596,590 in the prior year [7]. - Corporate and administrative expenses were CAD 658,353, slightly down from CAD 667,030 in the previous year [7]. Community and Development Initiatives - Approximately 35% of site personnel are residents of Bayankhongor province, supporting local employment [7]. - The company continues to engage in community development and support for small and medium enterprises in the local area [7]. Future Plans and Strategic Moves - The company is advancing projects outside its strategic alliance with Mongolian Mining Corporation, including an updated independent mineral resource report for the Zuun Mod Molybdenum-Copper project [2][7]. - An option agreement was executed to acquire up to 80% interest in the Tereg Uul Copper-Gold prospect, located near the Oyu Tolgoi deposit [2][7].