HALIFAX, Nova Scotia, June 15, 2018 (GLOBE NEWSWIRE) -- Erdene Resource Development Corp.
(TSX:ERD) ("Erdene" or
"Company") is pleased to announce its shareholders voted in favour of all items of business brought before them at
the Company's Annual Meeting of Shareholders ("AGM") held on June 14, 2018 in Halifax, Nova Scotia. Details of the
AGM are provided below.
Appointment of Board and Executive
At the AGM, shareholders voted in favour of Erdene management’s nominees to the board of directors, with details
of the proxy voting results as follows:
| Nominee |
Votes For |
% For |
Votes Withheld |
% Withheld |
| Peter C. Akerley |
46,650,797 |
99.98% |
10,250 |
0.02% |
| Dr. Anna G. Biolik |
46,656,647 |
99.99% |
4,400 |
0.01% |
| John P. Byrne |
46,639,647 |
99.95% |
21,400 |
0.05% |
| J.C. (Chris) Cowan |
46,637,797 |
99.95% |
23,250 |
0.05% |
| T. Layton Croft |
42,942,797 |
92.03% |
3,718,250 |
7.97% |
| Cameron McRae |
46,656,647 |
99.99% |
4,400 |
0.01% |
| David V. Mosher |
46,640,647 |
99.96% |
20,400 |
0.04% |
Following the AGM, Erdene’s board of directors appointed its officers for the coming year, namely: President and
Chief Executive Officer - Peter Akerley; Chairman of the Board - Chris Cowan; Vice President and Chief Financial Officer - Ken
MacDonald; and Corporate Secretary - Suzan Frazer.
Auditor Re-Appointed
KPMG LLP was re-appointed Auditor of the Company to hold office until the next AGM or until its successor is
duly appointed, and the directors were authorized to fix the Auditor’s remuneration.
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. The Company has interests in four
exploration licenses and a mining license in southwest Mongolia, where exploration success has led to the discovery and definition
of several prospects and deposits including: Bayan Khundii – the Company’s flagship and newly discovered, high-grade, near-surface
gold project; Altan Nar – an extensive, high-grade, near-surface, gold-polymetallic project located 16 kilometres northwest of
Bayan Khundii; Altan Arrow – an early-stage, high-grade gold-silver project 3.5 kilometres north of Bayan Khundii; Ulaan – a
recently acquired copper-gold porphyry prospect adjacent to Bayan Khundii; Khuvyn Khar – an early-stage, copper-silver porphyry
project; Nomin Tal – a narrow, high-grade copper-gold discovery; and Zuun Mod – a large molybdenum-copper porphyry deposit. In
addition to the above projects, Erdene has an Alliance with Teck Resources Limited on regional copper-gold exploration in the
prospective Trans Altai region of southwest Mongolia. The Bayan Khundii and Altan Nar licenses have a 2% net smelter returns
royalty (“NSR Royalty”) in favour of Sandstorm Gold Ltd. with a buy-back option to reduce the NSR Royalty to 1%. For further
information on the Company, please visit www.erdene.com. Erdene
has 161,682,014 issued and outstanding common shares and a fully diluted position of 183,141,320 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 many 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. The Company 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
