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Steppe Gold Issues Inaugural ESG Report

Corporate Updates

Steppe Gold Issues Inaugural ESG Report

Ulaanbaatar, Mongolia--(Newsfile Corp. - August 24, 2023) -

Steppe Gold Ltd. (TSX: STGO)

(OTCQX: STPGF) (FSE: 2J9)

("

Steppe Gold

" or the "

Company

")

is pleased to announce the release

of its inaugural Environmental, Social and Governance ("

ESG

") Report. The report is the Company's first

annual disclosure of its approach and performance on a range of material ESG topics as well as the

Company's plans and priorities for 2023 and beyond. The report is available on Steppe Gold's website

at

www.steppegold.com

under

Sustainability

. The Company has also shared a corporate video

highlighting its ESG efforts:

Steppe Gold - Embracing Sustainable Mining in Mongolia

.

Steppe Gold's 2022 ESG Report summarizes its strategy, efforts, and actions for responsible and

sustainable operations since 2018. The Report provides enhanced transparency regarding the

Company's ESG efforts and approach to managing ESG factors that have the greatest potential to

impact Steppe's value and success. Building on the Company's commitment to ongoing transparency

and disclosure, the ESG Report has been prepared in alignment with the Sustainability Accounting

Standards Board (SASB) Metals & Mining Sustainability Accounting Standard.

Steppe Gold Chairman and CEO, Mr. Bataa Tumur-Ochir, noted, "I am delighted to present our

inaugural ESG report, encompassing the period from 2018 to 2022. As our vision is to create long-

lasting value for all stakeholders, promote social and economic development in our local community, and

responsibly manage our impact on the environment, I am proud to say that Steppe Gold has been

committed to social responsibility to ensure our mines and communities are sustainable and profitable

for many years to come."

Steppe Gold Ltd.

Steppe Gold is Mongolia's premier precious metals company.

For further information, please contact:

Bataa Tumur-Ochir, Chairman and CEO

Shangri-La office, Suite 1201, Olympic Street19A, Sukhbaatar District 1,Ulaanbaatar 14241, Mongolia

Tel: +976 7732 1914

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking statements" and "forward-looking information" (collectively

referred to herein as "forward-looking statements") within the meaning of applicable securities

legislation. Forward-looking statements are statements that are not historical facts and are generally, but

not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates",

"continues", "plan", "projects", "potential", "budget" and similar expressions, or are events or conditions

that "will", "would", "may", "could" or "should" occur or be achieved. This news release contains forward-

looking statements pertaining to meeting ESG reporting expectations; the impact of ESG factors on the

value and success of Steppe.

Although the Company believes that the material factors, expectations, and assumptions expressed in

such forward-looking statements are reasonable based on information available to it on the date such

statements are made, undue reliance should not be placed on the forward-looking statements because

the Company can give no assurances that such statements and information will prove to be correct and

such statements are not guarantees of future performance. Since forward-looking statements address

future events and conditions, by their very nature they involve inherent risks and uncertainties.

Actual performance and results could differ materially from those currently anticipated due to a number of

factors and risks. These include, but are not limited to known and unknown risks, including those set forth

in the Company's Annual Information Form (a copy of which can be found under Steppe's profile on

SEDAR+ at

www.sedarplus.ca

). Accordingly, readers should not place undue importance or reliance on

forward-looking statements. Readers are cautioned that the list of factors is not exhaustive.

Statements, including forward-looking statements, contained in this news release are made as of the

date they are given, and the Company disclaims any intention or obligation to publicly update or revise

any forward-looking statements, whether as a result of new information, future events or otherwise,

unless so required by applicable securities laws. The forward-looking statements contained in this news

release are expressly qualified by this cautionary statement.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or

accuracy of the content of this news release.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/178351