Steppe Gold Files Amended and Restated Technical Report for the Boroo and Ulaanbulag Gold Project

Rhea-AI Summary

Steppe Gold (TSX: STGO) has filed an amended and restated technical report for its Boroo and Ulaanbulag Gold Project following a review by the Ontario Securities Commission. The Amended Report, titled 'Boroo And Ulaanbulag Gold Project NI 43-101 Technical Report,' addresses comments by the commission regarding the report's author and certificate. It removes references to internal use and restates mineral resource and reserve estimates as rounded figures, with no changes to the initial report’s results. The report is effective as of February 1, 2024, and amended on June 16, 2024. It is available on SEDAR+ and Steppe Gold's website.

Positive

• Addressed comments by the Ontario Securities Commission, demonstrating regulatory compliance.
• Restated mineral resource and reserve estimates do not alter the initial report results.

Negative

• The need for an amended report indicates prior deficiencies in compliance or reporting accuracy.
• No material revisions imply no significant new information or improvements in resource estimates.

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 www.sedarplus.ca and on the Company's website at www.steppegold.com.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/213898

FAQ

What is the amended report filed by Steppe Gold for the Boroo and Ulaanbulag Gold Project?

Steppe Gold filed an amended and restated technical report titled 'Boroo And Ulaanbulag Gold Project NI 43-101 Technical Report' to address comments from the Ontario Securities Commission.

What changes were made in Steppe Gold's amended technical report?

The amended report addresses comments on the author and certificate, removes references to internal use, and restates mineral resource and reserve estimates as rounded numbers.

When was the amended technical report for the Boroo and Ulaanbulag Gold Project filed?

The amended technical report was filed on June 21, 2024, with an effective date of February 1, 2024, and amended on June 16, 2024.

Where can I find Steppe Gold's amended technical report?

The amended technical report is available on SEDAR+ and Steppe Gold's official website.

Does the amended technical report impact the results of the initial report for the Boroo and Ulaanbulag Gold Project?

No, the rounding of the mineral resource and reserve estimates does not alter the results of the initial report.