Eric Sprott Announces Changes to His Holdings in Erdene Resource Development Corporation

Toronto, Ontario--(Newsfile Corp. - August 22, 2025) - Eric Sprott announces that on August 21, 2025, 2176423 Ontario Ltd., a corporation which is beneficially owned by him, purchased 10,777,116 common shares (Shares) of Erdene Resource Development Corporation (representing approximately 2.9% of the outstanding shares on non-diluted basis) at a price of $0.90 per share for aggregate consideration of approximately $9,699,404. The Shares were purchased by way of private agreement with a single vendor at a price (including brokerage fees or commissions) less than 115% of the "market price" of the Shares in reliance on the" private agreement exemption" set forth in Section 4.2 of National Instrument 62-104 Take-Over Bids and Issuer Bids.

Prior to the acquisition of Shares, Mr. Sprott beneficially owned 72,412,465 Shares representing approximately 19.9% of the outstanding Shares on a non-diluted basis. As a result of the acquisition of Shares, Mr. Sprott now beneficially owns 83,689,581 Shares representing approximately 22.9% of the outstanding Shares on a non-diluted basis. The acquisition resulted in an increase in holdings, on a partially diluted basis, of approximately 2.8% since the date of the last filing of an early warning report.

The Shares were acquired for investment purposes. Mr. Sprott has a long-term view of the investment and may acquire additional securities including on the open market or through private acquisitions or sell the securities including on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.

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