Erdene Intersects High Grade Gold and Base Metal Zone at Altan Nar; 5 Metres of 17.7 g/t Gold, 69 g/t Silver, 2.1% Lead and 2.5% Zinc Within 19 Metres of 5.8 g/t Gold

HALIFAX, NOVA SCOTIA--(Marketwired - Jun 2, 2014) - Erdene Resource Development Corp. (TSX:ERD) ("Erdene" or "Company"), is pleased to provide final drilling results for its second quarter exploration program at the Company's wholly-owned Altan Nar gold-polymetallic project in southwest Mongolia.

Highlights

• Highest grade gold interval at Altan Nar; 17.7 g/t gold over 5 m, within 19 m of 5.8 g/t gold, 37 g/t silver and 2.62% combined lead and zinc intersected in Discovery Zone ("DZ")
• High-grade intersection projects to surface where trenching returned 44 m of 1.1 g/t gold and 11 m of 3.0 g/t gold
• DZ strike length extended to 450 m and is open to the northeast and at depth where drilling returned 6 m of 4.8 g/t gold at 235 m
• Continuity of Union North (1.3 km northwest of DZ) established at depth and along strike with multiple gold-silver-base metal zones intersected, including 24 m of 2.1 g/t gold
• Expanded surface exploration has resulted in improved definition of 12 high-priority targets over a 5.6 km by 1.5 km area that remain relatively untested by drilling

Altan Nar Drill Program Update

Final assays for seven drill holes and four drill-hole-extensions (totaling 834 m) were recently received and demonstrate the continuity of the high-grade gold mineralization at Altan Nar. The second quarter exploration program was the most successful to date with the discovery of a high-grade zone at DZ North and establishing continuity of the mineralized system at Union North. Other prospects tested included Union South and Maggie, where initial holes confirmed continuity of mineralization.

Discovery Zone

The second quarter drilling program included a new hole in the southern portion of DZ North (TND-65), and extensions of three previously drilled holes (TND-17, -50 and -53) that tested mineralization at depth at the northern end of DZ North. Hole TND-65 was drilled under trench ANT-26 which returned 44 m of 1.1 g/t gold including 11 m of 3.0 g/t gold. The intersection in TND-65 suggests increasing grade at depth with an intersection of 32 m averaging 3.6 g/t gold including 19 m of 5.8 g/t gold at approximately 60 m vertical depth. A parallel mineralized zone was intersected near surface in TND-65 including 5 m of 2.2 g/t gold. For reference, a cross-section through DZ North showing the mineralization in TND-65 and ANT-26 has been included with this press release.

The high-grade intersection in TND-65 also improves continuity of mineralization between DZ South and DZ North. Total combined strike length for the DZ has now been extended to 450 m. Holes TND-50 and TND-17 are located at the northernmost portion of the DZ where a very wide mineralized zone was intersected; 123 m averaging 0.5 g/t gold with multiple higher-grade zones. Additionally, the deepest mineralized intersection within the DZ was extended in TND-58 with a zone of 6 m of 4.7 g/t gold at an approximate vertical depth of 235 m.

Table of Results - Discovery Zone North

Union North

Drilling at Union North included four new holes and one hole extension. Continuity of mineralization at depth was established with all new holes intersecting gold mineralization, including two holes within the center of the zone that returned between 22 m and 24 m of 2.1 g/t gold within 70 m of surface (click here for the Company's May 22nd press release).

Table of Results - Union North Prospect

* includes 5 metres of post-mineralization dyke

Union South and Maggie

Drilling at Union South (TND-63) established continuity of mineralization from the trench on surface to a vertical depth of approximately 50 m. A single drill hole at the Maggie prospect (TND-64) intersected a narrower zone of mineralization than observed in the surface trench where it has been displaced by a post-mineral dyke.

Table of Results - Union South and Maggie Prospects

Exploration Overview

The Q2 2014 exploration program at Altan Nar commenced in early April and included an induced polarization ("IP") geophysical survey, close-spaced infill geochemical soil sampling, rock chip sampling, detailed geological mapping, and drilling. Results support the continued expansion of the gold-polymetallic mineralization within the 5.6 km by 1.5 km target area at Altan Nar. The combination of detailed surface mapping, geochemical analysis of soil and rock samples, along with IP and magnetic geophysical surveys has resulted in improved definition of 12 highly prospective targets. Two of these targets, the Discovery Zone and Union North, have been shown to host significant near-surface mineralization while the remainder remain relatively un-tested by trenching and drilling. These zones have the potential to significantly expand the areas of known gold-polymetallic mineralization at Altan Nar with further exploration.

Exploration, including delineation and exploration drilling, trenching and expanded geotechnical surveys is expected to continue at Altan Nar during the remainder of 2014 with the goal of establishing a maiden National Instrument 43-101 compliant resource and the identification of further gold, silver, lead and zinc mineralization amenable to open pit development.

Qualified Person

J.C. (Chris) Cowan, P.Eng. (Ontario), VP Asia for Erdene, is a Qualified Person as that term is defined in National Instrument 43-101 and has reviewed and approved the technical information contained in this news release. All samples have been assayed at SGS Laboratory in Ulaanbaatar, Mongolia. In addition to internal checks by SGS Laboratory, the Company incorporates a QA/QC sample protocol utilizing prepared standards, blanks and duplicates.

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. 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

A map is available at the following link: http://media3.marketwire.com/docs/949584_DZ_North_Cross-Section.pdf.