Erdene Gold Inc.
TSX : ERD

Erdene Gold Inc.

October 18, 2006 17:12 ET

Erdene to Present Update on Mongolian and North American Projects at Sachs' Global Resources Capital Forum in Zurich

HALIFAX, NOVA SCOTIA--(CCNMatthews - Oct. 18, 2006) - Erdene Gold Inc. (TSX:ERD) today announced that it will be presenting to a select group of qualified institutional investors, analysts, fund managers, bankers and the media at Sachs' Global Resources Capital Forum in Zurich on Thursday, October 19, at 4:20 p.m. The presentation will be held in the Exchange Room of the SWX Swiss Exchange.

The Sachs conference provides a forum for leading resource and energy corporate presenters, one-to-one meetings and a series of analyst and industry roundtables. Erdene management will be providing an update on exploration opportunities in Mongolia as well as providing details on the Donkin Coal project and its development projects in the U.S.

Erdene is a diversified mineral company with exploration properties focused on high-growth commodities and near-production assets. The company has a strong portfolio of exploration properties in Mongolia focused on base metals (copper and molybdenum), precious metals (gold and palladium) and energy (uranium and coal). Exploration programs are currently underway with drilling on the company's Erdenet copper and Tsenkher Gol Gold properties and geophysical and geochemical surveys at its Biger, copper-gold-platinum project. Drill programs were just recently completed on the central-basin coal and uranium projects.

Erdene has strategic alliances with Xstrata Coal Canada Limited and International Uranium Corporation to develop its coal and uranium projects in Mongolia. In addition, Erdene has near-term cash flow opportunities with its recently acquired North American assets, which include a 20 per cent interest in the Donkin Coal project in Nova Scotia, Canada and royalty agreements with JM Huber Corporation and Rinker Materials as operators and developers in the southeast U.S for its kaolin clay and aggregate projects respectively.

Erdene has a current cash position of approximately $9.7 million with 53,041,127 common shares issued and outstanding and a fully diluted share position of 62,780,852.

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 subject to change after that date.

For additional information visit Erdene's website at www.erdene.com or contact the company via email at info@erdene.com

Contact Information

  • Erdene Gold Inc.
    Peter C. Akerley
    President and CEO
    902-423-6419
    or
    Erdene Gold Inc.
    Ken W. MacDonald
    Vice-President and CFO
    902-423-6419