Peter Akerley. Peter Akerley. Erdene Gold Inc. Mongolia. President & CEO. President & CEO. Erdene Gold Presentation V69

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1 Board of Directors Peter Akerley President & CEO Peter Akerley President & CEO Chris Cowan Managing Director Ken MacDonald V.P. & CFO John P. Byrne President PETREX Wayne G. Beach Partner, Beach, Hepburn David S.B. Carnell President, Bedford Capital Group William Burton President, Magnesium Alloy Corp. Exploration Team Peter Akerley President & CEO Chris Cowan Managing Director Ankhbayar Monrud XXK Ken MacDonald V.P. & CFO Support Team Michael Corey Exploration Manager Stephen King Geophysicist Bayarsaikhan Geomandal XXK Enormous potential Largely unexplored Welcoming business climate Favourable mining laws 1

2 Exploration costs lower than North America Low labour costs Well-educated labour force Mining is Vital to Economic Development Total Export Revenues 41% Other 30% Copper 59% Mining 29% Other Mining Gold Production (Oz) 32,000 Oz 10 X Increase 400,000 Oz Relationship With China China: World's Largest Copper Consumer KAZAKHSTAN INDIA RUSSIA CHINA 70% growth in consumption over next 10 years Established Competitors High Quality Exploration Targets Experienced Management Team Strong Financial Foundation 2

3 Development Highlights Temuujin discovery Privately raised $4.1 M for exploration Completed qualifying Strategic expansion technical report 3 Successful of new mineralization IPO completed zones land Independent position discovered raising report $10.6 at on Temuujin M Virgin confirmed findings Winter Summer Winter Summer Uvs Nuur KHOVD Erdene Property Significant Copper Deposits Significant Gold Deposits Mine/major Deposits: Au, Cu Copper Smelter National Capital Province Center Airport: international, regional Major Road Main Railway TAUT DALANDZADGAD KHARMAGTAI CHINA IRKUTSK South Gobi Lake Lake Baikal Baikal URGAMAL ULISTAI ZAAMAR Blue Springs White Hills Boroo RUSSIA CHOYBALSAN UNDERKHAAN BARUUN-URT MANDALGOVI ERDENE TOLGOI CHANDMAN Virgin UUL TEMUUJIN SHUTEEN OYUT ULAAN TSAGRIG TSAGAAN SUVARAGA Oyu Tolgoi BAOTOU BAOTOU CHITA HUHOT Baley Wungugetshan East Gobi Trans-n Railway Trans-China Railway BEIJING Style: Location: Skarn-hosted mineralization DUND-US Bayanhongor gold belt 792 Hectares Blue Springs ULAANBAAT W M DALANDZADGA South Go North Skarn Zone South Skarn Zone South Skarn Zone North Skarn Zone South Skarn Zone North Skarn Zone 3

4 7.8 g/t Au /10m (Incl g/t /3m) South Skarn Zone North Skarn Zone 14.5 g/t Au /7m Trench sampling & geophysical surveys completed in May Defined drill targets Expanded target areas Trench Samples 1% Copper & 1 oz. Silver Trench Samples 1% Copper & 1 oz. Silver 10 holes completed in July 25g/t Au over 3m in North Zone Expanded target areas (Bayan Govi) DUND-US Gold-bearing Style: Blue Springs deformation zone Location: Inferred Trend of Main n Lineament 57,800 Hectares Erden (Cu, M ULAAN DALANDZA South G (Bayan Govi) Vein Trend Main n Lineament (Bayan Govi) kilometres Au Occurrence Cu Occurrence Volcaniclastics Limestone Alteration Zone Quaternary Granite Au Occurrence 12 km strike length; up to 11.7g/t Au 4

5 Chargeability White Hills (Tsagaan Ovoo) Quartz breccia Style: zones & Quartz DUND-US vein system Blue Springs Location: Erdenedalai Metallogenic Belt 84,889 Hectares DALANDZADGAD South Gobi Boroo (Au) White MANDALGOVI Hills ÖNDÖRHAA Virg BUYANT-UH Oyu Tolgoi (Cu Erdenedalai Property Erdenedalai Property Tsagaan Ovoo Gold Occurrence Assay Results 2.5 km strike length; up to 7.9g/t Au over 4 m metres Quartz veins Quartz - breccia Sandstone Fault Sample line White Hills New Prospects White Hills New Prospects 5

6 Erdene Gold Presentation V69 (Oyuut KhonKhor) (Oyuut KhonKhor) Anomalous Bi-Hg-Sb Porphyry Cu/Au mineralized system Style: Hydrothermal breccia (Cu, Mo) Same geologic Location: DUND-US belt as deposit Blue Springs 189 Hectares Intrusives: Syenite, granite granodiorite Advanced argillic alteration zone Boroo Boroo (Au) (Au) White Hi MANDALGOVI Sediments Alteration Zones Kilometres 1 Mixed Volcanoes Gold-bearing rock sample Porphyry style alterations; Breccia w/ anomalous Au values DALANDZADGAC (Oyuut KhonKhor) (Oyuut KhonKhor) Anomalous Bi-Hg-Sb Hydrothermal breccia Intrusives: Syenite, granite granodiorite Advanced argillic alteration zone Sediments Alteration Zones Kilometres 1 Mixed Volcanoes Gold-bearing rock sample Porphyry style alterations; Breccia w/ anomalous Au values Virgin (Ongon) (Cu, Mo) Chargeability Surveys Virgin (Ongon) Boroo Boroo (Au) (Au) CHOYBALSAN d Style: Porphyry Cu/Au ÖNDÖRHAAN untain Blue Springoccurrences East Gobi White Hills BARUUN-URT Northeast trending South-Gobi MANDALGOVI metallogenic belt Virgin AY Location: ch Gobi BUYANT-UHAA DALANDZADGAC 216,000 Hectares South Gobi Oyu Oyu Tolgoi Tolgoi (Cu,Au) (Cu,Au) 6

7 Virgin (Ongon) Temuujin District Compilation Temuujin District Gravity Temuujin District Magnetics Temuujin District Gravity Temuujin Airborne Compilation T- II T- III T- I T- IV T- V 7

8 Temuujin II Prospect Temuujin II Prospect Area Looking North 1.5km Grab sample assays up to: Grab sample assays up to: 5% Cu, 0.44 g/t Au, 31 ppm Ag 1.2 g/t Au, 10ppm Ag Area of intense Fe-alteration to massive Fe-oxide Area of limonitic, vuggy quartz breccia Area of altered andesite porphyry w/ quartz-specularite veins ±secondary Cu Temuujin II Prospect Temuujin II Au + Cu Distribution on Surface Reflects assay results of surface samples collected across alteration zone at 50m intervals along 200m spaced surveyed grid lines Au ppb Cu ppm Temuujin V May 2004 Discovery Temuujin District New Discoveries Area of Generally Pervasive Hematization Trachyandesite Feldspar-crowded andesite Mafic volcanic (fine-grained) Area of intense pervasive Fe-oxide alteration Area of local intense carbonate alteration as veins & pervasive replacement Temuujin IV Temuujin I Temuujin VI Temuujin II Temuujin III Temuujin V Substantial Exploration Opportunities Excellent Prospects for Success Financial Review Private Placements March 16/04 IPO: Listing: Listing Symbol: Shares: Working Capital: Debt: $4.1 M $10.6 M TSX Venture Exchange ERD 25.7 M issued & outstanding $11.0 M No long-term debt 8

9 Total Program Budget (C$1000's) Drilling Analytical Exploration Support Mgmt/Geologists (Expat) 300 Geophysics Claim Renewal General Exploration Regional 500 Admin Total Two Year Exploration Program Define resources on advanced properties Early stage exploration on others Exploration Program East ÖNDÖRHAAN Blue Springs Gobi Focus of exploration 2004 White Hills BARUUN-URT Significant drill program at Virgin MANDALGOVI Temuujin late 2004 Erdene Property Copper Deposits Gold Deposits National Capital Province Center DALANDZADGAD South Gobi Boroo (Au) BUYANT-UHAA Oyu Tolgoi (Cu,Au) CHOYBALSAN Investment Highlights Significant Resource Potential Targeted Exploration Plan Independent Confirmation Experienced Management Team Financial Strength 9