Erdene Resource Development (ERD) Corporate presentation summary

Strategic partnerships and ownership structure

• 50:50 partnership with Mongolian Mining Corporation on gold projects, with a 5% net smelter royalty after 400,000 ounces produced.

• 100% interest retained in molybdenum-copper projects, including Zuun Mod and Khuvyn Khar.

• MMC provided US$40M equity and US$65M debt to subsidiary for project development.

• Over 7,000 Mongolian shareholders and major institutional investors, including Eric Sprott (23%).

Project portfolio and district overview

• Khundii Minerals District hosts multiple high-grade gold, copper, and molybdenum deposits.

• Bayan Khundii Gold Mine is a high-grade, open-pit operation with significant expansion potential.

• District includes Altan Nar (polymetallic), Dark Horse (gold), Ulaan (gold), and Zuun Mod (molybdenum-copper).

• Located less than 200 km from the Chinese border, benefiting from strong infrastructure and market access.

Bayan Khundii Gold Mine highlights

• 650,000 tpa open-pit mine and CIP plant constructed in 22 months, with first gold poured in September 2025.

• Targeting annual production over 80,000 oz gold, with 93% recovery and top-quartile AISC.

• Initial reserves of 513,700 oz gold for the first six years, incorporating Dark Horse satellite pit in year 3.

• Ramp-up phase in Q4 2025 achieved 96.3% gold recovery and 77% of design throughput.