ERD Erdene Resource Development Corporation New

Erdene Resource Development Corp. (TSX:ERD) ("Erdene" or "Company"), is pleased
to announce that it has closed its non-brokered private placement financing with
the issuance of 4,284,500 units ("Units") priced at $0.16 per Unit for gross
proceeds of $685,520 ("Private Placement"). 


Each Unit consists of one common share of the Company and one-half of one common
share purchase warrant, with each whole common share purchase warrant
("Warrant") entitling the holder to purchase one common share of the Company at
a price of $0.24 for a 24 month period from the closing date. If the closing
price of the Company's common shares trading on the Toronto Stock Exchange
("TSX") is $0.36 or higher for 30 consecutive trading days, the Company may, in
its sole discretion, accelerate the expiry period of the Warrants by providing
written notice of such acceleration by way of a news release ("Acceleration
Notice"), such that the exercise period of the Warrants will expire on that day
which is 30 days from the date of the Company's Acceleration Notice. All
securities issued pursuant to the Private Placement are subject to a four month
hold period. A finder's fee of $3,600 will be paid to Mongolian Investment
Banking Group LLC ("MIBG") in connection with the Private Placement. 


Net proceeds of the Private Placement will be used for exploration of the
Company's metal projects in Mongolia, including drilling at the Company's 100%
owned Altan Nar gold-polymetallic project. For more details on Erdene's projects
please visit Erdene's website at www.erdene.com. 


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. Post issuance from this transaction,
Erdene has 74,956,612 issued and outstanding common shares and, a fully diluted
position of 88,538,051 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. Erdene 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
(902) 423-6419


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

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