Erdene Resource Development Corporation announced final results from the Second Quarter 2022 drill program at Ulaan Southeast, located 300 metres west of the construction ready Bayan Khundii Gold Project in southwest Mongolia. This program expanded known mineralization at the Ulaan SE discovery to the west and at depth, and intersected an interpreted high-grade, gold bearing “feeder” structure. Follow-up exploration at Ulaan SE is currently underway.

primary objectives of the Second Quarter 2022 Ulaan SE drilling program were to test interpreted high-grade feeder zones along bounding or intersecting structures in the northern portion of the Ulaan SE discovery, and to test mineralization at depth. Six new holes, as well as five hole-extensions, totaling 2,463.7 metres, were completed as part of the Second Quarter 2022 Ulaan SE drilling program. Results for the final two holes in the program, UDH-52 and UDH-53, are newly reported.

The Second Quarter 2022 program at Ulaan SE confirmed a zone of high-grade mineralization interpreted to be associated with intersecting or bounding structures and possibly a feeder zone. Drill hole UDH-35 returned the highest average grade interval intersection to date at Ulaan SE, with 41 metres of 8.1 g/t gold starting 187 metres downhole. Drill hole UDH-36 extended high-grade mineralization further west from the discovery area, intersecting one of the broadest zones of mineralization to date in Erdene's Khundii Gold District.

Hole UDH-53 was drilled to confirm extension of the feeder zone at depth and intersected 27 metres of 3.47 g/t gold, including three one-metre intervals greater than 10 g/t gold (up to 35.5 g/t gold), and ended in mineralization. Step-out drill holes and hole extensions continue to expand the area of known mineralization, which remains open to the west and at depth. Drillhole UDH-37 intersected the targeted gold mineralized tuffaceous host lithology, broadening the potential for gold mineralization as exploration progresses westward further into the core of the Ulaan license area.

UDH-38 complimented the results of UDH-37, extending gold mineralization westward; however, this drillhole also indicates shallower gold mineralization, with gold mineralization beginning 42 metres down hole. Hole extensions (an additional 100 to 200 metres, to total depths of 350 to 450 metres) demonstrated that gold mineralization extends over 400 metres vertically. Mineralization remains open at depth with two of the holes extended to 450 metres ending in mineralization.