HALIFAX, NOVA SCOTIA--(Marketwire - Dec. 12, 2012) - Erdene Resource Development Corp. (News - Market indicators) ("Erdene" or "Company") is pleased to announce 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 but is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval and acceptance by the Toronto Stock Exchange. All securities to be issued pursuant to the private placement will be subject to a four month hold period.

About MIBG

Located in Ulaanbaatar, the Mongolian Investment Banking Group LLC ("MIBG") is a financial boutique, providing a select range of financial services and products designed specifically to generate value within the mining and resources sector of Mongolia. MIBG has trading rights on the Mongolian Stock Exchange and direct access to international exchanges including the Toronto Stock Exchange, Australian Stock Exchange, Honk Kong Stock Exchange, New York Stock Exchange, and the London Stock Exchange.

About Erdene

Erdene Resource Development Corp. is focussed on exploration and development in Asia, primarily Mongolia. Erdene has a very experienced technical and management team and has assembled a strong portfolio of gold, copper-gold, molybdenum-copper, and coal projects in Mongolia. These projects, and its 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 proximity to China and 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 47,902,947 issued and outstanding common shares, 50,279,447 fully diluted.

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 a number of 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. Erdene does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.