Erdene Resource Development Corporation

Erdene Resource Development Corporation

July 06, 2015 09:08 ET

Erdene Appoints Layton Croft to the Board of Directors

HALIFAX, NOVA SCOTIA--(Marketwired - July 6, 2015) - Erdene Resource Development Corp. (TSX:ERD) ("Erdene" or "Company"), is pleased to announce the appointment of Layton Croft to the Company's Board of Directors. Mr. Croft will serve as a non-executive, independent member of the Erdene board, effective immediately.

"It is with great pleasure that I announce that Mr. Croft has joined the Company's Board," said Chris Cowan, Chairman, "As a senior executive in the Mongolian mining industry for more than a decade, Layton brings a wealth of experience in the areas of operating public companies in Mongolia, government affairs, investor relations and community development while living and working in Mongolia. This will prove very valuable as we advance our exciting new gold projects through the development phase."

Mr. Croft is a senior corporate executive with diversified management and extensive Mongolia focused resource industry expertise with more than 12 years in senior roles with several Mongolia and Asia focused companies, including Oyu Tolgoi, as Executive Vice President, Corporate Affairs and Social Responsibility (Mongolia), where he had responsibility for communications, social performance and stakeholder engagement for the Oyu Tolgoi project; SouthGobi Energy Resources, as Vice President, External Affairs and Corporate Citizenship (Hong Kong), where he oversaw investor and public relations, government affairs, and corporate social responsibility; The Asia Foundation as Resident Representative (Mongolia); and most recently Peabody Energy, as Vice President, External Relations - Asia (Singapore). Having lived and worked in Mongolia for a total of 15 years beginning in 1994, Mr. Croft brings deep knowledge of the Mongolia corporate, political and socio-cultural environments. He played a central role in strengthening relational and reputational elements of the companies he has worked with in Mongolia and the Asia-Pacific region, including success in building and protecting the social and political licences to operate at national, regional and local levels. A U.S. native, Layton has lived and worked internationally for more than 22 years in corporate and public-sector roles in Asia, Latin America and Eastern Europe. He holds a BA from the University of North Carolina at Chapel Hill, an MA from the School for International Training in Vermont, and an MA from the Fletcher School of Law and Diplomacy at Tufts University in Massachusetts.

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 holds four exploration licences and two mining licences located in Southwestern Mongolia. These include: Altan Nar - an extensive, high grade, near surface, gold-polymetallic project that the Company is aggressively advancing toward a production decision; Khuvyn Khar - an early-stage, copper-silver porphyry project with multiple drill targets and significant copper intersections including 34 m of 1.34% copper and 9.24 g/t silver; Zuun Mod - a world-class molybdenum-copper porphyry deposit; and Altan Arrow - an early-stage, high grade, gold-silver project. In addition to the above properties, the Company has an Alliance with Teck Resources Limited on regional copper-gold exploration in the prospective Trans Altay region of southwest Mongolia. For further information on the Company, please visit Erdene has 97,277,377 issued and outstanding common shares and a fully diluted position of 113,899,988 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 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 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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