Steppe Gold Announces Results of Annual General Meeting of Shareholders

Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (“

Steppe Gold

” or the “

Company

”) is pleased to report the results of its 2021 Annual General Meeting of Shareholders held on June 30, 2021 in Ulaanbaatar, Mongolia. A total of 32,400,465 common shares were voted at the meeting representing 47.35% 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	21,380,544	81.15%	4,965,200	18.85%
Jargalan Sereenen	21,380,044	81.15%	4,965,700	18.85%
Patrick Michaels	21,380,544	81.15%	4,965,200	18.85%
Bataa Tumur-Ochir	21,380,044	81.15%	4,965,700	18.85%
Aneel Waraich	19,925,958	75.63%	6,419,786	24.37%
Matthew Wood	19,679,948	74.70%	6,665,796	25.30%
Steve Haggarty	21,374,444	81.13%	4,971,300	18.87%

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

Appointment of Auditors

BDO Limited was reappointed to serve as the independent auditors of the Company for the ensuing year.

Steppe Gold Ltd.Steppe Gold (TSX: STGO, OTCQX: STPGF) is Mongolia’s premier precious metals company, holding a portfolio of gold and silver projects covering over 20,000 hectares, including the Altan Tsagaan Ovoo Project (ATO Project) and the Uudam Khundii (UK) property.

For more information, please contact:

Bataa Tumur-Ochir, CEO and President

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

Website: www.steppegold.comEmail: [e-mail]: [phone]

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.