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Steppe Gold Ltd. Announces Annual General and Special Meeting Voting Results

News provided by newsfile2025-06-16

June 16, 2025 4:30 PM EDT | Source: Steppe Gold Ltd.

Ulaanbaatar, Mongolia--(Newsfile Corp. - June 16, 2025) - Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) ("Steppe Gold" or the "Company") announces today the results of its annual general and special meeting of shareholders (the "Meeting") held on June 16, 2025.

At the Meeting, Steppe Gold shareholders voted on the following matters, the full details of which are set out in the Company's management information circular dated May 13, 2025, issued in connection with the Meeting, which is available under the Company's profile on SEDAR+ at www.sedarplus.ca.

According to the proxies received and ballots cast, the following seven individuals nominated to serve on Steppe Gold's Board of Directors (the "Board"), were elected by shareholders as follows:

Nominee	Votes For	% Votes For	Votes Withheld	% of Votes Withheld
Batjargal Zamba	171,310,130	99.78%	369,143	0.22%
Jargalan Sereenen	171,340,130	99.80%	339,143	0.20%
Bataa Tumir-Ochir	165,839,855	96.60%	5,839,418	3.40%
Marina Lerner	166,729,855	97.12%	4,949,418	2.88%
Byambatseren Tsogbadrakh	15,704,475	9.15%	155,974,798	90.85%
Tserenbadam Dugeree	171,321,073	99.79%	358,200	0.21%
Dulguun Erdenebaatar	165,916,942	96.64%	5,762,331	3.36%

Pursuant to, and in accordance with, the terms of the Company's majority voting policy (the "Policy"), any nominee proposed for election as a director in an uncontested election who receives a greater number of votes withheld than number of votes in favour of the nominee, even though duly elected as a matter of corporate law, must promptly tender their resignation to the board of directors of the Company (the "Board"). At the Meeting, Ms. Tsogbadrakh received more votes withheld than votes in favour and therefore, in accordance with the Policy, Ms. Tsogbadrakh is required to submit her resignation to the Board for its consideration. Under the Policy, the Board will promptly accept the resignation unless it determines that there are extraordinary circumstances relating to the composition of the Board or the voting results that should delay the acceptance of the resignation or justify rejecting it. The Board will make its decision and reasons available to the public within 90 days of the Meeting.

According to the proxies received and ballots cast, Kingston Ross Pasnak LLP were re-appointed as Steppe Gold's auditors to hold office until the next annual meeting of the Company's shareholders and the Board was authorized to fix their renumeration, as an ordinary resolution of shareholders as follows:

Votes For	% Votes For	Votes Withheld	% of Votes Withheld
174,945,784	99.81%	337,941	0.19%

According to the proxies received and ballots cast, the shareholders did not pass the ordinary resolution approving the ratification and adoption of the Company's long-term incentive plan, with the voting results as follows: