ERD Erdene Resource Development Corporation New

Erdene Resource Development Corp. (TSX:ERD) ("Erdene" or "Company"), is pleased
to announce it intends to issue, by way of a non-brokered private placement, up
to 7,140,000 units at a price of $0.07 per unit for gross proceeds of up to
$500,000 ("Private Placement"). Each unit will consist of one common share of
the Company and one-half of one common share purchase warrant, with each whole
common share purchase warrant entitling the holder to purchase one common share
of the Company at a price of $0.10 for a 24-month period. 


Net proceeds of the Private Placement will be used for exploration of the
Company's projects in Mongolia and for working capital. The Company announced on
October 7th, 2013 (click here for news release) the commencement of a trenching
program at the Altan Nar gold-polymetallic project to further define
near-surface mineralization and to prioritize new areas for the next phase of
resource drilling over the 5.5 kilometre mineralized trend. In addition,
proceeds will be directed to the Khuvyn Khar copper project, Altan Arrow
gold-silver project, and general exploration & evaluation activities. 


The Private Placement is scheduled to close by November 1st, 2013 and is subject
to certain conditions including, but not limited to, the receipt of all
necessary approvals including the approval and acceptance by the Toronto Stock
Exchange. All securities to be issued pursuant to the Private Placement will be
subject to a four month hold period.


Altan Nar Gold Project - Exploration Update

During the past two weeks the surface exploration program at the Altan Nar gold
project progressed ahead of schedule with 21 trenches completed over a total
length of 1,390 metres. The original 1,200 metre program has been expanded to
2,000 metres with an additional six trenches planned for Altan Nar while a
series of test pits and trenches will also be completed on the Oyuut Khundii
porphyry copper prospect and the Altan Arrow gold-silver project. It is expected
that these programs will be completed by early November and that approximately
1,500 samples will be submitted for analysis.


Qualified Person

J.C. (Chris) Cowan, P. Eng. (Ontario), VP Asia for Erdene, is a 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 base and precious metals in
underexplored and highly prospective Mongolia. For further information on the
Company, please visit www.erdene.com. Erdene has 58,785,299 issued and
outstanding common shares and, a fully diluted position of 67,095,465 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.


NO REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE CONTENTS OF THIS RELEASE

FOR FURTHER INFORMATION PLEASE CONTACT: 
Erdene Resource Development Corp.
Peter C. Akerley, President and CEO


Ken W. MacDonald
Vice President Business Strategy and CFO
(902) 423-6419
info@erdene.com
www.erdene.com
Twitter: @ErdeneRes

Erdene Resource Developm... (TSX:ERD)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Erdene Resource Developm... (TSX:ERD)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024