Erdene Resource Development Q4 Earnings Call Highlights

• Bayan Khundii began accumulation successful September 2025 and successful Q4 the JV mined 365,000 tonnes astatine ~2.4 g/t and processed 145,000 tonnes to nutrient and merchantability 7,434 ounces of golden for CAD $31 million, with recoveries supra 96% and throughput reaching nameplate by year-end.

• Early ramp-up showed elevated dilution (~20%) with processed grades astatine 2.0 g/t versus the feasibility reserve ~3.8 g/t, but absorption expects dilution power and grades to amended arsenic blasting, crushing and ROM blending are optimized and ramp-up completes successful Q2 2026.

• Erdene is advancing territory maturation (Dark Horse reserve 48,000 oz astatine 7 g/t, positive targets astatine Striker West and Ulaan) and is funded to propulsion exploration and method work, with Erdene Mongol holding CAD $13M currency and Erdene firm supported by CAD $5M positive a CAD $30M treasury from a Feb 2026 placement.

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Erdene Resource Development (TSE:ERD) utilized its fourth-quarter and full-year 2025 results telephone to sermon the aboriginal operating show of the Bayan Khundii Gold Mine successful Mongolia, which delivered archetypal golden successful September 2025 and entered its archetypal ramp-up signifier during the 4th quarter.

President and CEO Peter Akerley described Bayan Khundii arsenic an emerging “high-grade, low-cost” golden shaper owned 50/50 with Mongolian Mining Corporation done the Erdene Mongol LLC associated venture. Erdene besides holds a 5% nett smelter royalty connected accumulation from the associated task aft the archetypal 400,000 ounces of gold, which absorption expects to beryllium reached wrong the archetypal 5 years.

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In the 4th fourth of 2025—its archetypal 4th of operations—Erdene Mongol delivered 365,000 tonnes of ore to the run-of-mine (ROM) pad astatine an mean estimated people of 2.4 grams per tonne. Akerley said this tonnage was astir 55% higher than projected successful the feasibility study, attributing the outperformance mostly to a little cutoff people (0.45 versus 0.67) driven by higher golden prices.

Management noted that dilution was elevated during the aboriginal ramp-up arsenic the excavation completed overburden stripping, established accordant moving levels, and transitioned a workforce with bulk mining acquisition toward selective mining successful a high-grade unfastened pit setting.

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On the processing side, the institution reported that 145,000 tonnes were fed into the works successful Q4 astatine a measured provender people of 2.0 grams per tonne. That generated accumulation of 7,434 ounces of gold, sold astatine an mean terms of CAD $4,187 per ounce, resulting successful CAD $31 cardinal successful revenue. The 4th besides produced 2,634 ounces of metallic arsenic a byproduct.