HALIFAX, Nova Scotia, Aug. 16, 2021 (GLOBE NEWSWIRE) — Erdene Adeptness Development Corp. (TSX:ERD; MSE:ERDN) (“Erdene” or the “Company”) is admiring to advertise operating and banking after-effects for the three months concluded June 30, 2021, and to accommodate an amend on its Bayan Khundii Gold Activity (“Bayan Khundii” or “BK”), including the after-effects of an adapted Mineral Adeptness Estimate. This absolution should be apprehend in affiliation with the Company’s Q2 2021 Banking Statements and MD&A, accessible on the Company’s website or SEDAR.

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Quotes from the Company:

“During the added division we delivered adjoin our cardinal objectives of growing assets while advancing the Bayan Khundii Gold Activity appear development,” said Peter Akerley, Erdene’s President and CEO. “Recent gold discoveries at the Dark Horse and Ulaan affairs authenticate the ample calibration abeyant of the Ulaan-Khundii arrangement basal our Khundii Gold District. A aftereffect 8,800 accent affairs is currently underway in abutment of our 2 actor ounce adeptness ambition in 2022.”

“We are additionally steadily avant-garde Bayan Khundii appear a architecture decision,” connected Mr. Akerley. “Detailed engineering and architecture work, the contempo adeptness amend and the beheading of a Bounded Cooperation Agreement with the Bayankhongor Provincial Government are important milestones in the Project’s development. The Bayan Khundii Gold abundance development is a basic efficient, aerial chargeless banknote breeze acquiescent activity that will armamentarium aggressive, non-dilutive appraisal of the awful -to-be Khundii Gold District.”

Q2 2021 Highlights and Consecutive Events:

Bayan Khundii Gold Activity – 100% Erdene



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Bayan Khundii Mineral Adeptness Update

During Q1 2021, Erdene affianced Tetra Tech, Inc. (“Tetra Tech”) to adapt an adapted Mineral Adeptness Appraisal (“Mineral Resource”), accumulation 2020 conduct at Striker West, Striker, Midfield and Midfield North, and absorption accepted gold prices.

The adapted Mineral Adeptness for the Bayan Khundii drop incorporates 95 added assignment holes accretion 12,889 metres and an adapted structural estimation abstraction completed by Erdene at Bayan Khundii back the antecedent October 1, 2019 mineral adeptness appraisal was announced. The absolute cardinal of assignment holes included in the adapted Bayan Khundii Mineral Adeptness is 350, accretion 55,791 metres of drilling, forth with 1,075 metres of trenching from 23 trenches. The focus of the 2020 conduct affairs was to:

The Bayan Khundii adapted Mineral Adeptness conforms to NI 43-101, Companion Policy 43-101CP, and the CIM Analogue Standards for Mineral Assets and Mineral Reserves. The Mineral Adeptness was able by Tetra Tech and has an able date of June 17, 2021. The appear Mineral Adeptness is based on advice provided to Tetra Tech by Erdene and absolute area accessible by Tetra Tech. Abstracts appraisal and statistical analyses were agitated out by Tetra Tech in abutment of the Mineral Resource. The adapted Mineral Adeptness did not change materially from the ahead appear mineral adeptness and as provided beneath National Instrument 43-101 (NI 43-101), a new Abstruse Report is not required. The capacity of the ambit acclimated in advancing the adapted Mineral Resource, including abstracts verification, sample preparation, appraisal and security, are included in the Company’s Q2 2021 MD&A, accessible on the Company’s website or SEDAR.

The adeptness appraisal QP, Cam Norton P. Geo, visited the acreage from May 6 to May 12, 2019, and a consecutive armpit appointment for the purposes of this Mineral Adeptness amend was not accounted necessary.

Ordinary Kriging (OK) belted to a mineralized area was acclimated to admit gold grades (g/t) into a block model. Measured, Indicated and Inferred mineral assets are appear at assorted absolute grades in the arbitrary tables below. The mineral appraisal takes into application that the Striker, Midfield, and Midfield Arctic zones will be mined by accessible pit mining methods.

The adeptness appear as of June 17, 2021, has been archival in agreement of a gold absolute brand and has been angled to the abutting thousand tonnes due to the attributes of the attention of the block model.

The Mineral Adeptness has been accountable to a basic pit carapace developed application the Lerchs Grossman algorithm in Whittle™ application ambit categorical beneath to constrain blocks which are advised reasonable affairs for closing bread-and-butter extraction. The afterward table presents the Mineral Adeptness at assorted absolute grades for the advised of comparison. Tetra Tech recommends a advertisement absolute brand is 0.4 g/t gold.

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Mineral Adeptness Appraisal for Bayan Khundii, Able June 17, 2021

(1) Cut-off grades accept been afflicted application a gold amount of $1,600 /ounce, milling and G&A costs of $16.0 / tonne, and mining costs of $3.0 / tonne, and an afflicted gold accretion of 95%.(2) Bulk body of 2.66 for mineralized domains.(3) Numbers may not add absolutely due to rounding.(4) Conforms to NI 43-101, Companion Policy 43-101CP, and the CIM Analogue Standards for Mineral Assets and Mineral Reserves.(5) Mineral Assets which are not mineral affluence do not accept accustomed bread-and-butter viability. All abstracts are angled to reflect the about accurateness of the estimate.

Qualified Being and Sample Protocol

Cameron Norton, P.Geo. is a able being beneath NI 43-101 and is amenable for the adapted Bayan Khundii Mineral Adeptness Estimate. Mr. Norton is absolute of the Corporation and is an agent of Tetra Tech, Inc. Mr. Norton has advised and accustomed the acknowledgment accompanying to the Bayan Khundii Mineral Adeptness Appraisal in this columnist absolution as able-bodied as the Company’s Q2 2021 MD&A, including the absorbed appendix, which provides added abundant advice on the ambit application in advancing the adapted Mineral Resource, including abstracts verification, sample preparation, appraisal and security.

Peter Dalton, P.Geo. (Nova Scotia), Chief Geologist for Erdene, is the Able Being as that appellation is authentic in National Instrument 43-101 and has advised and accustomed the abstruse advice independent in this account release, with the barring of the adapted Bayan Khundii Mineral Adeptness Estimate.

All samples accept been assayed at SGS Class in Ulaanbaatar, Mongolia. In accession to centralized checks by SGS Laboratory, the Aggregation incorporates a QA/QC sample agreement utilizing able standards and blanks. All samples abide accepted blaze appraisal appraisal for gold and ICP-OES (Inductively Coupled Plasma Optical Emission Spectroscopy) appraisal for 33 added elements. For samples that initially acknowledgment a brand greater than 5 g/t gold, added screen-metallic gold appraisal is agitated out which provides a abounding boilerplate gold brand from blaze appraisal appraisal of the absolute 75 micron atom and three 30-gram samples of the -75 micron atom from a 500 gram sample.

Erdene’s assignment amount sampling agreement consisted of accumulating of samples over 1 or 2 accent intervals (depending on the lithology and appearance of mineralization) over the absolute breadth of the assignment hole, excluding accessory post-mineral lithologies and un-mineralized granitoids. Sample intervals were based on meterage, not geological controls, or mineralization. All assignment amount was cut in bisected with a design saw, with bisected of the amount placed in sample accoutrements and the absolute bisected deeply retained in amount boxes at Erdene’s Bayan Khundii appraisal camp. All samples were organized into batches of 30 including a commercially able standard, bare and either a acreage duplicate, consisting of two quarter-core intervals, or a class duplicate. Sample batches were periodically alien anon to SGS in Ulaanbaatar via Erdene’s logistical contractor, Monrud Co. Ltd.

About Erdene

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Erdene Adeptness Development Corp. is a Canada-based adeptness aggregation focused on the acquisition, exploration, and development of adored and abject metals in underexplored and awful -to-be Mongolia. The Aggregation has interests in three mining licenses and two appraisal licenses in Southwest Mongolia, area appraisal success has led to the appraisal and analogue of the Khundii Gold District. Erdene Adeptness Development Corp. is listed on the Toronto and the Mongolian banal exchanges. Added advice is accessible at www.erdene.com. Important advice may be broadcast alone via the website; investors should argue the armpit to admission this information.

Forward-Looking Statements

Certain advice apropos Erdene independent herein may aggregate advanced statements aural the acceptation of applicative balance laws. Advanced statements may accommodate estimates, plans, expectations, opinions, forecasts, projections, guidance, or added statements that are not statements of fact. Although Erdene believes that the expectations reflected in such advanced statements are reasonable, it can accord no affirmation that such expectations will prove to accept been correct. Erdene cautions that absolute achievement will be afflicted by a cardinal of factors, best of which are above its control, and that approaching contest and after-effects may alter essentially from what Erdene currently foresees. Factors that could account absolute after-effects to alter materially from those in advanced statements accommodate the adeptness to access appropriate third affair approvals, bazaar prices, exploitation, and appraisal results, connected availability of basic and costs and accepted economic, bazaar or business conditions. The advanced statements are especially able in their absoluteness by this cautionary statement. The advice independent herein is declared as of the accepted date and is accountable to change afterwards that date. The Aggregation does not accept the obligation to alter or amend these advanced statements, except as may be appropriate beneath applicative balance laws.


Erdene Contact Information

Peter C. Akerley, President and CEO, orRobert Jenkins, CFO

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