Mr. Tserenbadam Dugeree reports

STEPPE GOLD MOURNS THE PASSING OF DR. ZAMBA BATJARGAL, CHAIR OF THE AUDIT COMMITTEE

Steppe Gold Ltd. notes with deep sorrow the passing of Dr. Zamba Batjargal, who served as chair of the audit committee on the company's board of directors.

Dr. Batjargal served as an independent director of Steppe Gold Ltd. since 2017, bringing decades of leadership in environmental science and international policy to the board. He previously served as Mongolia's minister of the environment (1990-1996), director-general of the National Agency for Meteorology, Hydrology and Environmental Monitoring, and ambassador of Mongolia to Japan, before representing the World Meteorological Organization at the United Nations in New York from 2005 to 2011. He went on to serve as Mongolia's special envoy on climate change and national focal point for the UNFCCC, and held a doctorate from Russia's State Hydrometeorological University.

"Dr. Batjargal was a trusted voice on our board. His integrity, discipline and deep sense of public service shaped the standards by which our audit committee operated. On behalf of everyone at Steppe Gold, I extend our heartfelt condolences to his family and all who knew him. He will be greatly missed," said Tserenbadam Dugeree, chief executive officer of Steppe Gold.

The company extends its deepest condolences to Dr. Batjargal's family, friends and colleagues. His contributions to the board and to the global climate policy community leave a lasting legacy.

About Steppe Gold Ltd.

Steppe Gold is Mongolia's premier precious metals company.