Ulaanbaatar, Mongolia--(Newsfile Corp. - June 21, 2024) - Steppe Gold Ltd. (TSX: STGO) ("Steppe Gold" or the "Company") announces that as a result of a review by staff of the Ontario Securities Commission, the Company has filed an amended and restated technical report for the Boroo and Ulaanbulag Gold Project entitled, "Boroo And Ulaanbulag Gold Project NI 43-101 Technical Report" (the "Amended Report") and is issuing the following news release regarding its disclosure on the Boroo and Ulaanbulag Gold Project technical report.

The Amended Report addresses comments raised by the Ontario Securities Commission related to the author of the Amended Report and the associated Certificate of Qualified Person. The Amended Report also removes references to use the technical report for internal purposes only and restates the mineral resource and mineral reserve estimates as rounded numbers (as opposed to precise calculations). The rounding of the mineral resource and mineral reserve estimates to the nearest significant number do not otherwise alter the results included in the initial technical report that was filed on the Company's profile on SEDAR+. The Amended Report does not otherwise contain any material revisions.

The Amended Report (effective February 1, 2024 and amended as of June 16, 2024), was prepared in compliance with National Instrument 43-101 - Standards for Disclosure of Mineral Projects. The Amended Report is available under the Company's profile on SEDAR+ at and on the Company's website at .

Steppe Gold Ltd.

Steppe Gold is Mongolia's premier precious metals company.

For Further Information, please contact:

Bataa Tumur‐Ochir, CEO and President

Shangri‐La office, Suite 1201, Olympic Street
19A, Sukhbaatar District 1,
Ulaanbaatar 14241, Mongolia
Tel: +976 7732 1914