ERDENE TO ISSUE TWO MILLION SHARES TO TECK

Ulaanbaatar /MONTSAME/ Halifax’s Erdene Resource Development Corporation announced Tuesday it intends to issue, by way of a non-brokered private placement, two million company shares at a price of 17.5 cents a share to Teck Resources Ltd. of Vancouver for gross proceeds of $350,000. The news was published Tuesday on thechronicleherald.ca website. The placement fulfils Teck’s equity investment obligation pursuant to a previously announced strategic alliance between the two firms. Net proceeds will be used for exploration of Erdene’s Teck-Alliance projects in Mongolia, including the Khuvyn Khar copper porphyry project where additional geophysical and geologic mapping programs will be completed during the second quarter. The private placement, which is subject to regulatory approvals, is expected to close on or before Friday. Erdene Resource Development Corporation is a Canadian-based resource company with over 15 years experience in precious and base metal exploration in underexplored and highly prospective Mongolia. The corporation’s strength comes from a major new gold discovery, a world class molybdenum-copper porphyry resource, and a recent alliance with Teck Resources to fund and explore a copper porphyry discovery and Erdene’s large land holding located in southwest Mongolia, 200 km from the China border.