Erdene Files Updated Feasibility Study for the Bayan Khundii Gold Project
September 26 2023 - 10:32PM
Erdene Resource Development Corp.
(
TSX:ERD; MSE:ERDN) ("
Erdene" or
the "
Company") is pleased to announce that further
to its announcement of an updated independent Feasibility Study
(“FS”) for the high-grade, open-pit Bayan Khundii Gold Project
(“
BK” or "
Project”) in southwest
Mongolia, on August 15, 2023, the Company has now filed the
Technical Report entitled “Bayan Khundii Gold Project, Feasibility
Study Update, NI 43-101 Technical Report" with an effective date of
August 15, 2023, signed September 25, 2023 (the "
Technical
Report" or "
FS").
The updated FS has been prepared by a consortium
of International and Mongolian firms with significant experience
operating in Mongolia and internationally, led by O2 Mining Ltd and
Roma Group Ltd. The FS was prepared in accordance with National
Instrument 43-101 Standards of Disclosure for Mineral Projects and
incorporates updated mineral resources and reserves, including
maiden resources and reserves from the high-grade Dark Horse Mane
deposit, as well as current capital and operating cost estimates
and metals prices.
For additional information and the most current
technical information, please refer to the Technical Report
available on the Erdene website (www.erdene.com) and filed on
SEDAR+ under the Company's profile at www.sedarplus.ca.
Qualified Person
Peter Dalton, P.Geo. (Nova Scotia), Senior
Geologist for Erdene, is the Qualified Person as that term is
defined in National Instrument 43-101 and has reviewed and approved
the technical information contained in this news release.
About Erdene
Erdene Resource Development Corp. is a
Canada-based resource company focused on the acquisition,
exploration, and development of precious and base metals in
underexplored and highly prospective Mongolia. The Company has
interests in three mining licenses and an exploration license in
Southwest Mongolia, where exploration success has led to the
discovery and definition of the Khundii Minerals District. Erdene
Resource Development Corp. is listed on the Toronto and the
Mongolian stock exchanges. Further information is available
at www.erdene.com. Important information may be disseminated
exclusively via the website; investors should consult the site to
access this information.
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 a
number of 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
the ability to obtain required third party approvals, 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.
NO REGULATORY AUTHORITY HAS APPROVED OR
DISAPPROVED THE CONTENTS OF THIS RELEASE
Erdene Contact Information
Peter C. Akerley, President and CEO, orRobert Jenkins, CFO
Phone: |
(902) 423-6419 |
Email: |
info@erdene.com |
Twitter: |
https://twitter.com/ErdeneRes |
Facebook: |
https://www.facebook.com/ErdeneResource |
LinkedIn: |
https://www.linkedin.com/company/erdene-resource-development-corp-/ |
YouTube: |
https://www.youtube.com/channel/UCILs5s9j3SLmya9vo2-KXoA |
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