Erdene Provides Update on Share Consolidation

Core Points - Erdene Resource Development Corp. is proceeding with a share consolidation, converting six pre-Consolidation Common Shares into one post-Consolidation Common Share, as approved at the 2025 Annual General and Special Meeting of Shareholders [1][2] - The consolidation will take effect on September 2, 2025, pending regulatory approvals, with trading of Common Shares halted on the Mongolian Stock Exchange starting August 27, 2025 [2] - After the consolidation, approximately 61,038,660 Common Shares are expected to be issued and outstanding, down from 366,231,958 [5] Shareholder Information - Registered shareholders will receive a letter of transmittal with instructions for exchanging their pre-Consolidation Common Shares for post-Consolidation shares [4] - Fractional shares will be rounded up to the nearest whole number, and beneficial shareholders do not need to take action to receive their post-Consolidation shares [4] Trading Details - Post-Consolidation Common Shares will trade under the symbol "ERD" on the TSX, with a new CUSIP and ISIN assigned [3] - Trading of the post-Consolidation shares is expected to commence on or about September 5, 2025 [3] Company Overview - Erdene Resource Development Corp. is focused on the Bayan Khundii Gold Mine and the exploration and development of precious and base metals in Mongolia [7] - The company holds interests in three mining licenses and two exploration licenses in Mongolia, contributing to the discovery of the Khundii Gold District [7]