Erdene Resource Development Corp Announces Private Placement

Erdene Resource Development Corp announced it intends to undertake a private placement offering for gross proceeds of up to $1,000,000 (the "Private Placement"). The Private Placement will be comprised of up to 5,882,000 Units offered at a price of $0.17 per Unit. Each Unit will consist of one common share of the Company and one-half of one common share purchase warrant, with each whole common share purchase warrant entitling the holder to purchase one common share of the Company at a price of $0.25 for a 24-month period. Mongolian Investment Banking Group LLC ("MIBG") will be the broker for investors resident in Asia and will be entitled to a cash commission in the amount of 6.0% of the gross proceeds received from the sale of those Units. MIBG will be targeting a group of Mongolian high net worth investors to complete a portion of the Private Placement. The remainder of the financing will be non-brokered. Net proceeds of the Private Placement will be used to advance the Company's projects in Mongolia and for general working capital. Project expenditures will primarily be directed to Altan Nar, where drilling continues to establish this project as one of the most significant gold discoveries in Mongolia. The Private Placement is scheduled to close by December 19, 2012.