Resource Development Corp., is
pleased to announce it has entered into a definitive agreement (“Asset
Sale Agreement”), through its wholly owned subsidiary, ERD Aggregate
Corp., to sell its real estate and associated royalty interest in the Granite
Hill property (the “Sparta Quarry”) for US$3.35 million, cash on
closing, to an arm”s length, third party.

“The sale of our Granite Hill
property is part of the strategic plan to focus our resources on the
development of the Donkin Coal Project and the advancement of our Mongolian
metals projects,” said Peter Akerley, President and CEO. “Although we
have a positive outlook for the Granite Hill operation, we believe the ability
to monetize this non-core asset, improve our working capital position, and
avoid dilution is in the best interest of our shareholders.”

Under the terms of the Asset Sale
Agreement, the Company”s 100% interest in the 339 acre parcel of land and the
associated lease and royalty will be purchased for US$3.35 million. Closing of
the transaction is expected to take place within the next 40 days.

Erdene Resource Development Corp. is
a focused on the development of the Donkin coking coal project in eastern
Canada and advancing its portfolio of metals projects in southern Mongolia.
Erdene has 95,802,901 common shares issued and outstanding and a fully diluted
position of 103,110,901 common shares.

Source: Market Wire