ERDENE CLOSES PRIVATE PLACEMENT

Ulaanbaatar /MONTSAME/ Erdene Resource Development Corp has announced that it has closed its non-brokered private placement financing with the issuance of 4,284,500 units priced at $0.16 per Unit for gross proceeds of $685,520. According to news published at marketwired.com on Tuesday, 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 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 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, 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 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. 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.