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Steppe Gold Announces Results of Annual General and Special Meeting of Shareholders

T.STGO

Ulaanbaatar, Mongolia--(Newsfile Corp. - July 4, 2022) - Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) ("Steppe Gold" or the "Company") is pleased to report the results of its 2022 Annual General and Special Meeting of Shareholders held on June 30, 2022 in Ulaanbaatar, Mongolia. A total of 35,544,144 common shares were voted at the meeting representing 51.10% of the votes attached to all outstanding shares.

Election of Directors

Detailed results from the election of directors are set out below:

Nominee Votes For % For Votes Withheld % Withheld
Batjargal Zamba 24,708,816 85.09% 4,331,000 14.91%
Jargalan Sereenen 24,708,816 85.09% 4,331,000 14.91%
Patrick Michaels 29,033,401 99.98% 6,415 0.02%
Bataa Tumur-Ochir 24,709,116 85.09% 4,330,700 14.91%
Aneel Waraich 24,708,116 85.09% 4,331,700 14.92%
Matthew Wood 20,937,333 72.1% 8,102,483 27.90%
Steve Haggarty 21,023,383 72.4% 8,016,433 27.61%

Complete voting results are available on SEDAR at www.sedar.com.

Appointment of Auditors

Kingston Ross Pasnak LLP was appointed to serve as the independent auditors of the Company for the ensuing year.

Long-Term Incentive Plan

The Company's Long-Term Incentive Plan was approved and adopted.

Steppe Gold Limited.
Steppe Gold (TSX: STGO, OTCQX: STPGF) is Mongolia's premier precious metals company.

For more information, please contact:

Bataa Tumur-Ochir, CEO and President

Shangri-La office, Suite 1201, Olympic Street
19A, Sukhbaatar District 1,
Ulaanbaatar 14241, Mongolia
Website: www.steppegold.com
Email: investors@steppegold.com
Tel: +976 7732 1914

Forward-Looking Statements

Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and Steppe Gold assumes no obligation to update such information to reflect later events or developments, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129953