Erdene Resource Development: Development of the Khundii High-Grade Gold District, Q3 2022

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FORWARD-LOOKING STATEMENTS

This presentation contains certain forward-looking information and statements that may not be based on fact, including, without limitation, statements regarding the Company’s expectations regarding its future financial condition, business strategy, exploration and future production, mineral resource potential, exploration drilling, licensing, access to capital, events or developments that the Company expects to occur in the future. All statements, other than statements of historical facts, are forward-looking information and statements. The words “believe”, “expect”, “anticipate”, “envision”, “aim”, “plan”, “intend”, “continue”, “budget”, “estimate”, ” may”, “will” and similar expressions identify forward-looking information and statements. In addition to the forward-looking information and statements mentioned above, this presentation includes those relating to: the expected results of exploration activities; mineral resource estimation; the ability to identify new mineral resources and convert mineral resources into mineral reserves; ability to raise additional capital and realize future financings; capital expenditures and costs, including anticipated costs; the Company’s ability to comply with environmental, safety and other regulatory requirements; future prices of precious metals; the Company’s ability to obtain all necessary approvals and permits in connection with the development of the Bayan Khundii Gold Project.

This forward-looking information and statements are based on a number of estimates and assumptions which, although considered reasonable by the Company on the date of such information and statements, are inherently subject to significant commercial, economic uncertainties and contingencies. and competitive. These estimates and assumptions relate to, among other things, the continued operations of the Company and its subsidiaries, general economic and market conditions, gold prices, the accuracy of mineral resources and statements mineral reserves, and other estimates and assumptions contained in the bankable feasibility study.

Readers are cautioned that forward-looking information and statements are not guarantees of future performance. There can be no assurance that such information and statements will prove to be accurate and actual results and future events could differ materially from those presented in such information and statements. Forward-looking information and statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking information and statements. These risks include, but are not limited to, gold price volatility, mineral resource uncertainty, exploration potential, mineral grade and recovery estimates, delays in exploration and development, insufficient capital to complete development and exploration plans, risks inherent in mineral acquisitions, delays in obtaining government approvals or permits, financing additional capital needs, commercial viability of deposits minerals, cost of exploration and development programs, risks associated with competition in the mining industry, risks associated with the ability to retain key management and personnel, impact of COVID-19, ownership disputes and other claims, changes in government and environmental regulations that result in increased costs, the cost of environmental expenses and potential environmental liabilities, accidents and labor disputes. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may differ materially from those described in the forward-looking information and statements. Please see the Company’s Annual Information Form dated March 8, 2022 available on the Company’s website at www.erdene.com or on the Company’s SEDAR profile at www.sedar.com, for further details. details of other risks facing the Company. The Company disclaims any intention or obligation to update or revise any forward-looking information and statements, whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

The Company has included certain non-IFRS financial measures in this presentation, such as earnings before interest, taxes, depreciation and amortization (“EBITDA”), initial investment costs, total cash cost, sustaining cost included and the effective tax rate on cash. which are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS. Therefore, these measures may not be comparable to similar measures reported by other companies. Each of these measures employed is intended to provide additional information to the user and should not be considered in isolation or as a substitute for measures prepared in accordance with IFRS.

Peter Dalton, geo. (Nova Scotia), principal geologist for Erdene and a “qualified person” under National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this presentation. All currencies are expressed in Canadian dollars, unless otherwise indicated.

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