Erdene Resource Development Corporation provided final drill results from its 2020 Dark Horse gold prospect and to announce follow up exploration work on this exciting new prospect. Highlights: Fourth Quarter 2020 drilling at Dark Horse delineated a significant new gold discovery Defined a four kilometre long structure, trending north-south (N-S), extending from the Bayan Khundii deposit in the south to the Altan Arrow northeast-trending structure in the north Dark Horse drill hole AAD-61 intersected a wide zone of gold mineralization; Returned 130 metres of 0.53 g/t gold, beginning 10 metres downhole, including 26 metres of 1.1 g/t gold, beginning 14 metres downhole; Drill hole was collared 700 metres north of previously reported high-grade intersection in AAD-58 and 500 metres north of AAD-57. Significant gold mineralization has been intersected along the Dark Horse N-S structure over a 1.2 kilometre trend, including (from south to north): AAD-58 returned 45 metres of 5.97 g/t gold, beginning 10 metres downhole, including 1 metre of 82.5 g/t gold within 8 metres of 27.1 g/t gold; AAD-57, located 180 metres north of AAD-58, returned 16 metres of 0.6 g/t gold beginning 52 metres downhole, and 48 metres of 1.2 g/t gold beginning 194 metres downhole, including 30 metres of 1.7 g/t gold; AAD-61, located 500 metres north of AAD-58, returned 130 metres of 0.53 g/t gold beginning 10 metres downhole; AAD-51, collared 1.2 kilometres north of AAD-58, returned 3 metres of 5.6 g/t gold beginning 138 metres downhole and 10 metres of 0.9 g/t gold starting 222 metres downhole. The phase II Dark Horse drill program was completed in early December 2020, with 3,085 metres drilled in 14 holes. In total, Erdene drilled 4,660 metres in 25 holes (AAD-40 to 64) at Dark Horse in 2020. The phase II program built upon results from the first phase, including proximal pathfinder element (arsenic, molybdenum and antimony), drill intersections, magnetic-low anomalies and gold-in-soil anomalies associated with major structures, particularly structural intersections and interpreted zones of dilation. This new discovery is located within a relatively underexplored region of the Dark Horse prospect, approximately one kilometre west of the high-grade interval 30.6 g/t gold over 1 metre, in AAD-48 The results reported are for hole AAD-61, located mid-way holes AAD-51 and AAD-57, approximately 500 metres from each, with AAD-58 a further 180 metres south of AAD-57. Hole AAD-61 returned the widest zone of gold mineralization to date at the Dark Horse prospect – 130 metres averaging 0.53 g/t gold, including 26 metres of 1.1 g/t gold, beginning 14 metres downhole. Gold mineralization in hole AAD-61 is nearly continuous over the entire 130 metre interval, with the highest reported grade, 3.5 g/t gold over 1 metre, measured at 126 metres downhole. Previously reported gold mineralization along the N-S Dark Horse structure includes: AAD-51 that returned multiple anomalous gold zones, including 3 metres of 5.6 g/t gold at 138 metres, and 10 metres of 0.9 g/t gold at 222 metres downhole depth, AAD-58 that returned 45 metres of 5.97 g/t gold beginning at 10 metres downhole, and AAD-57 that returned 16 metres of 0.6 g/t gold beginning at 52 metres downhole and 48 metres of 1.2 g/t gold beginning at 194 metres downhole. Currently, only six holes have been drilled in the target area and the extent of gold mineralization remains largely untested. The area of exploration will be expanded beyond the north-south discovery corridor to other untested targets with similar geological signatures within the wider Dark Horse area. An evaluation and interpretation effort is currently underway, including: Members of the Company’s exploration team have returned to the field to carry out detailed logging of the discovery core and prepare for the upcoming exploration program; Dr. Jeffrey W. Hedenquist, an expert in epithermal and porphyry deposits, is reviewing results and will assist the Company in developing an understanding of the mineralized system and aid in the design of follow-up drilling; Wave Geophysics has been contracted to complete a detailed review and interpretation of the geophysical data in the new target area; Plus Minerals LLC will complete clay mineral (SWIR) analysis and interpretation from drill hole and surface samples within the target area which can provide insight into the character and depth of the mineralizing system; and The Company’s exploration team will compile recent results and interpretations into its 3-D model and analyze the full suite of geological data to further Erdene’s understanding of the controls on mineralization and aid in identifying additional drilling targets. Once this work is complete, a follow-up drill program will be designed with drilling expected to commence shortly thereafter.