Erdene Unlocks US Capital for Mongolia’s Critical Minerals Future

NEW YORK, NY – November 26, 2025 – In a strategic move signaling a new phase of growth, Canadian-based Erdene Resource Development Corp. announced today it has graduated from the OTCQB Venture Market to the prestigious OTCQX Best Market. While on the surface this is a story of a company maturing on the public markets, the implications run much deeper. This upgrade is poised to unlock a new tier of U.S. investment, providing the financial firepower not just for gold production, but for developing a portfolio of minerals in Mongolia that are increasingly critical for the global technology and green energy sectors.

The move to OTCQX, where the company now trades under the symbol “ERDCF,” is a calculated step to enhance visibility and credibility among American investors. For a company operating on the mineral-rich frontier of Mongolia, this access to capital is the lifeblood of ambition—an ambition that extends far beyond a single gold mine to a multi-commodity future.

A Golden Ticket to U.S. Capital Markets

Upgrading to the OTCQX Best Market is no small feat. It represents a company’s passage through a rigorous vetting process, distinguishing it from thousands of other over-the-counter securities. To qualify, international firms like Erdene must meet stringent financial standards, demonstrate best-practice corporate governance, and maintain timely disclosure in compliance with U.S. securities laws. This isn't just about paperwork; it's a declaration of stability and transparency designed to build investor confidence.

For investors, the OTCQX designation acts as a seal of quality, offering a more regulated and transparent trading environment with real-time quotes, akin to what is expected from major national exchanges. By meeting these high standards, Erdene effectively broadens its appeal from niche resource speculators to a larger audience of institutional and serious retail investors seeking vetted international growth opportunities. The increased liquidity and credibility that come with the listing are essential tools for funding capital-intensive mining operations.

Peter Akerley, Erdene’s President and CEO, framed the move as a pivotal moment for the company's expansion. “Graduating to the OTCQX Market is a natural progression for Erdene to allow for a broader U.S. shareholder base to participate in our growth,” he stated. Akerley highlighted the dual strategy of producing gold from the company's flagship Bayan Khundii mine while simultaneously exploring the region to “eventually become a multi-mine, multi-commodity mining company.” This vision underscores that the OTCQX listing is less of a destination and more of a launchpad.

Beyond Gold: Powering the Green Transition from Mongolia

While the near-term focus is on the high-grade, low-cost Bayan Khundii Gold Mine—which recently poured its first gold and is ramping up to a projected annual production of 74,200 ounces—the larger story lies in Erdene's diversified portfolio. The capital and credibility gained from the OTCQX listing are critical for advancing projects that tap into minerals essential for a sustainable future. The company’s growth strategy is deeply intertwined with the global demand for technology metals.

Chief among these assets is the Zuun Mod Molybdenum-Copper project. An updated resource estimate in October 2025 confirmed its status as one of Asia’s largest undeveloped molybdenum-copper deposits. Molybdenum is a critical component in high-strength steel alloys used in everything from pipelines to wind turbines, while copper is the indispensable metal of electrification, forming the backbone of electric vehicles, renewable energy infrastructure, and all modern electronics. With a 22% increase in its Measured and Indicated molybdenum resources and a 90% jump in its Inferred resources, Zuun Mod is not just a secondary project; it's a strategic asset positioned to supply markets, particularly neighboring China, with the building blocks of the 21st-century economy.

Erdene’s strategy is clear: use the robust cash flow from the Bayan Khundii gold mine, which boasts an exceptionally low all-in sustaining cost of around $870 per ounce, to fund the exploration and development of these other vital commodities. This creates a self-sustaining growth engine, where gold finances the development of a diversified resource base aligned with long-term technological and environmental trends.

Navigating the Mongolian Frontier

Operating in Mongolia presents a unique combination of immense opportunity and considerable risk. The country is part of the Central Asia Orogenic Belt, a geological treasure trove that remains significantly underexplored. However, its history of shifting policies regarding foreign investment and infrastructure deficits have previously given investors pause. Successfully operating here requires not only geological expertise but also deep strategic and political acumen.

Erdene appears to have crafted a resilient strategy to navigate this landscape. A cornerstone of this approach is its strategic alliance with Mongolian Mining Corporation (MMC), a powerful local partner. MMC’s US$40 million investment for a 50% stake in Erdene’s primary subsidiary, coupled with its operational expertise and in-country influence, has been instrumental in de-risking the Bayan Khundii project. This partnership has facilitated crucial infrastructure, including an overhead power line from the Chinese border, solving one of the key logistical hurdles for remote mining operations.

The Mongolian government itself has shown a renewed commitment to creating a stable investment climate, with recent action plans focused on transparent licensing, accelerating geological research, and protecting investor rights. Erdene’s progress serves as a compelling case study for how foreign companies can succeed by aligning with local partners and contributing to national development goals in a frontier market.

Building a Multi-Faceted Resource Powerhouse

With gold production commencing, a premier U.S. market listing secured, and a strategic partner in place, Erdene is executing a clear, multi-pronged strategy to evolve from a single-asset producer into a diversified mining house. The vision extends to developing satellite deposits like the Altan Nar gold-polymetallic project to feed the central Bayan Khundii processing facility, effectively turning the entire Khundii Minerals District into a sprawling, interconnected mining complex.

Aggressive exploration remains at the heart of this plan. With the Bayan Khundii mine expected to generate significant free cash flow, the company has the means to rapidly pay down debt and reinvest in discovering and developing the next generation of resources within its vast land package. The recent option on the Tereg Uul copper-gold prospect, located near the world-class Oyu Tolgoi deposit, further signals this aggressive push into copper.

By leveraging its initial gold success, Erdene is methodically building a portfolio that mirrors the commodity demands of the future. The upgrade to OTCQX is a critical enabler of this strategy, providing the platform to attract the long-term capital needed to realize the full potential of Mongolia’s untapped mineral wealth.