Erdene Announces Results of Annual Meeting of Shareholders

HALIFAX, Nova Scotia, June 15, 2018 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp. (TSX:ERD) ("Erdene" or "Company") is pleased to announce its shareholders voted in favour of all items of business brought before them at the Company's Annual Meeting of Shareholders ("AGM") held on June 14, 2018 in Halifax, Nova Scotia. Details of the AGM are provided below.

Appointment of Board and Executive

At the AGM, shareholders voted in favour of Erdene management’s nominees to the board of directors, with details of the proxy voting results as follows:

Following the AGM, Erdene’s board of directors appointed its officers for the coming year, namely: President and Chief Executive Officer - Peter Akerley; Chairman of the Board - Chris Cowan; Vice President and Chief Financial Officer - Ken MacDonald; and Corporate Secretary - Suzan Frazer.

Auditor Re-Appointed

KPMG LLP was re-appointed Auditor of the Company to hold office until the next AGM or until its successor is duly appointed, and the directors were authorized to fix the Auditor’s remuneration.

About Erdene

Erdene Resource Development Corp. is a Canada-based resource company focused on the acquisition, exploration, and development of base and precious metals in underexplored and highly prospective Mongolia. The Company has interests in four exploration licenses and a mining license in southwest Mongolia, where exploration success has led to the discovery and definition of several prospects and deposits including: Bayan Khundii – the Company’s flagship and newly discovered, high-grade, near-surface gold project; Altan Nar – an extensive, high-grade, near-surface, gold-polymetallic project located 16 kilometres northwest of Bayan Khundii; Altan Arrow – an early-stage, high-grade gold-silver project 3.5 kilometres north of Bayan Khundii; Ulaan – a recently acquired copper-gold porphyry prospect adjacent to Bayan Khundii; Khuvyn Khar – an early-stage, copper-silver porphyry project; Nomin Tal – a narrow, high-grade copper-gold discovery; and Zuun Mod – a large molybdenum-copper porphyry deposit. In addition to the above projects, Erdene has an Alliance with Teck Resources Limited on regional copper-gold exploration in the prospective Trans Altai region of southwest Mongolia. The Bayan Khundii and Altan Nar licenses have a 2% net smelter returns royalty (“NSR Royalty”) in favour of Sandstorm Gold Ltd. with a buy-back option to reduce the NSR Royalty to 1%. For further information on the Company, please visit www.erdene.com. Erdene has 161,682,014 issued and outstanding common shares and a fully diluted position of 183,141,320 common shares.

Forward-Looking Statements

Certain information regarding Erdene contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Erdene believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Erdene cautions that actual performance will be affected by many factors, most of which are beyond its control, and that future events and results may vary substantially from what Erdene currently foresees.  Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. The Company does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

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