Assay Results Lift Erdene; Shares Up Almost 5%

Shares of Erdene Resource Development Corp. (ERD.TO) were lifted by almost 5% after the company announced today the final assay results from a 20-hole scout drill program at its 100% owned Altan Nar property in southwest Mongolia.

Peter Akerley, President and CEO, said: "These initial results suggest that Altan Nar has the potential to host a significant gold-polymetallic deposit and we are planning an aggressive evaluation program in 2012."

ERD shares are now trading at $0.465 a share. More than 71,000 ERD shares were traded so far.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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