Erdene Strengthens Management Team
HALIFAX, NOVA SCOTIA -- (Marketwire) -- 09/09/11 -- Erdene Resource Development Corp. ('Erdene') (TSX: ERD), is pleased to announce the appointment of Mr. Michael MacDonald to their management team as Director of Exploration-Mongolia.
Mr. MacDonald will be responsible for the design and implementation of Mongolia programs, dealing with exploration, development, and management, including working with various government agencies in Mongolia as they relate to Erdene's land holdings and future interests.
Mr. MacDonald has previous mineral exploration experience in Mongolia, having worked with Erdene's principals, Mr. Peter Akerley and Mr. Chris Cowan in the mid-1990's as part of the largest regional exploration program completed by a foreign, western-based, exploration company up to that time. The exploration program evolved into a joint-venture with Barrick Gold focussed on epithermal gold opportunities in Mongolia in 1997-98.
Prior to joining Erdene, Mr. MacDonald held the position of Executive Director of the Mineral Resources Branch for the Province of Nova Scotia, Canada. In this capacity, he was in charge of co-ordinating policy and planning to guide the development, management, conservation and protection of Nova Scotia's mineral resources. Mr. MacDonald has led and participated in several national, public and private sector committees for public geoscience, mineral-related public policy, mining, and mineral exploration in Canada. Mr. MacDonald has led research projects, and has published extensively on a broad range of topics including geochemical exploration for metallic mineral deposits and the geology and economic potential of granite terranes.
As Erdene continues to fortify its position as a leader in the exploration and development of Mongolia's natural resources, the Company continues to build on its core strengths in the areas of technical knowledge, country experience, community development and government relations. Mr. MacDonald brings years of experience in each of these areas.
About Erdene
Erdene Resource Development Corp. is a diversified resource company with multiple projects in Mongolia, Canada, and the USA, at various stages of development, from exploration to production; all projects are focused on high-growth commodities. In Mongolia, Erdene's principals have over 14 years of experience in the country's resource sector. A dedicated technical and management team have assembled a strong portfolio of molybdenum-copper, copper-gold, and coal projects throughout the country. These projects, and our in-country experience, provide the Company with a unique opportunity to participate in this period of unprecedented economic growth in Mongolia. This growth is fuelled by the discovery and development of a number of World-class mineral projects that are transforming the country into one of Asia's natural resource capitals.
Erdene has a current working capital position of $4.2 million, including that of its controlled subsidiary Advanced Primary Minerals Corp., with 90,323,377 common shares issued and outstanding and a fully diluted position of 97,931,377 common shares.
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Contacts:
Erdene Resource Development Corp.
Peter C. Akerley, President and CEO
(902) 423-6419
Erdene Resource Development Corp.
Ken W. MacDonald, Vice President Business Strategy and CFO
(902) 423-6419
info@erdene.com
www.erdene.com
Renmark Financial Communications Inc.
Barbara Komorowski: bkomorowski@renmarkfinancial.com
Dustin Buenaventura: dbuenaventura@renmarkfinancial.com
(514) 939-3989 or (416) 644-2020
www.renmarkfinancial.com