Steppe Gold Releases 2025 ESG Report

Ulaanbaatar, Mongolia--(Newsfile Corp. - November 3, 2026) - Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") today announced the publication of its 2025 Environmental, Social and Governance ("ESG") Report, reflecting the Company's continued commitment to transparent sustainability disclosure and responsible operations.

This is Steppe Gold's fourth annual sustainability report, its second integrated report covering the Altan Tsagaan-Ovoo ("ATO") and Boroo Gold operations, and the first to include a double materiality assessment.

The 2025 ESG Report provides a comprehensive overview of Steppe Gold's ESG performance across ATO, Boroo and Ulaanbulag, covering key areas including health and safety, environmental stewardship, community relations and ethical business practices. The report is aligned with the GRI, SASB and IFRS S1 and S2 frameworks.

The full report is available on Steppe Gold's website at https://steppegold.com/sustainability/.

"As an established Mongolian gold producer, we recognize our responsibility to the communities where we operate," said Tserenbadam Dugeree, Chief Executive Officer of Steppe Gold. "In 2025, we maintained zero fatalities across our operations, advanced environmental rehabilitation efforts and continued investing in our host communities, including initiatives supporting the preservation of Buryat cultural heritage near the ATO mine. We are proud that our community engagement at Boroo Gold was recognized by the Mongolia's mining ministry and national mining association. We will continue to build on this progress, remaining committed to responsible mining and creating long-term value for our communities".

About Steppe Gold Ltd.

Steppe Gold is a Mongolia-focused precious metals producer and developer.

For further information, please contact:

Tserenbadam Dugeree, Chief Executive Officer
Ariuntsetseg Batsaikhan, Interim Chief Financial Officer
Elisa Tagarvaa, Investor Relations Manager

7th floor, Blue Sky Tower, Peace Avenue 17
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, "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 words such as "expects", "plans", "anticipates", "believes", "intends", "estimates", "continues", "projects", "potential", "budget" and similar expressions, or by statements that events or conditions "will", "would", "may", "could" or "should" occur or be achieved. This news release contains forward-looking statements pertaining to meeting ESG reporting expectations and the impact of ESG factors on the value and success of the Company.

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 forward-looking statements, because the Company can give no assurance that such statements will prove to be correct, and they 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 Gold'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 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/322275