Steppe Gold Announces Important Developments In Creating A New Gold District In Bayankhongor |

Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is extremely pleased to announce three important milestones in its ongoing plan to create a new, multi-million ounce exploration potential, gold district in Bayankhongor province.

Steppe Gold acquired the highly prospective Uudam Khundii gold project in 2017, in partnership with the Province of Bayankhongor, and has been conducting exploration work since the acquisition.

With these new agreements announced today, the Company is poised to consolidate its leading position in this district and within the Bayankhongor Province. It plans to accelerate its exploration and development work at Uudam Khundii, with strong local partners and stakeholders, a foundational social program and new prospective licence areas.

• Partnership with state-owned Erdenes Alt Resource LLC announced to develop the highly prospective Khurentsav gold project that adjoins the Steppe Gold Uudam Khundii gold project; • Consolidates our leading land position in this gold district; • Renewed commitment with Shinejinst Soum to support ongoing exploration at UK project; and • Signature to the Responsible Mining Codes

Landmark Agreement on Important New Licence with State-Owned Mining Enterprise

Steppe Gold has signed a Memorandum of Understanding ("MOU') with Erdenes Alt Resource LLC - a leading State-Owned Mining Enterprise to develop a landmark strategic partnership for the development of a highly prospective new licence area nearby its Uudam Khundii exploration licence.

The goal of the MOU is to build a framework for the exploration and development of the highly prospective Khurentsav project, located in the Shinejinst Soum of Bayankhongor Province. The Khurentsav project is widely considered to be one of the most prospective gold licences in Bayankhongor and in Mongolia, and the Company is privileged to partner with state-owned Erdenes Alt Resource LLC on this asset. Steppe Gold believes that combining Khurentsav and Uudam Khundii will drive significant synergies in the delineation and future development of this area.

Fig. 1 Map of Uudam Khundii and Khurentsav projects in Bayankhongor

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6562/139435_d2418b539412fafe_001full.jpg

With the MOU now signed, the partners are working on contracts and community support and will build on the exciting preliminary exploration data for projects located in the Bayankhongor Province. Renewed Co-Operation Agreement with Local Communities

Steppe Gold, through its Joint Venture with Bayankhongor Province, Corumdum Geo, and Shinejinst Soum of Bayankhongor Province, signed a new Co-Operation Agreement to support its exploration partnership in the region.

Steppe Gold is committed to a strong two-way partnership with all stakeholders in the region and particularly the residents of the local Soum area. As it has done successfully in Dornod with the ATO Gold Mine, the Company is already working closely with the local Soum on a program of local procurement, employment opportunities and investment in education, providing scholarships to over 70 students and social programs that will ensure the local communities are beneficiaries of the economic development arising from the exploration, development and operation of mining in the region.

Exploration work at the Uudam Khundii project has been continuing in 2022 and a summary of preliminary results to date is below.

Steppe Gold has also signed a Memorandum of Understanding with the Minister of Mining and Heavy Industry and the Mongolian Mining Association, regarding the following Responsible Mining Codex.

Operating best practices in responsible mining has always been at the core of our promise to our local communities, and all of our stakeholders in Mongolia: the signing of this commitment is further evidence of this.

President and CEO of Steppe Gold, Bataa Tumur-Ochir, commented, "We are extremely pleased to announce these very important milestones in our strategy to consolidate our position in the highly prospective gold district in Bayankhongor Province, Western Mongolia. At the core, our strategy has always been to build strong relationships with local partners and create win-win scenarios for all stakeholders. Bayankhongor has fantastic mining assets and we look forward to building long-term and sustainable projects across our significant land holdings in the area.

The partnership with Erdenes Alt Resource LLC is a major development for us as it consolidates our leading land position in the Khundii gold district. The Uudam Khundii project and the nearby Khurentsav licence together will create a strong combined platform for our growth plans in the region. With our new partner on Khurentsav, Erdenes Alt Resource LLC, we are proposing 10,000m of exploration drilling at this exciting project, and we look forward to sharing more updates with the market in the coming months.

We are also delighted to renew and strengthen our partnership with the Bayankhongor Province and now the Shinejinst Soum to provide tangible benefits to our communities and a renewed commitment to responsible mine development."

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

Cautionary Note Regarding Forward-Looking Statements:

The above contains forward-looking statements that are subject to a number of known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those anticipated in our forward-looking statements. Factors that could cause such differences include: changes in world commodity markets, equity markets, costs and supply of materials relevant to the mining industry, change in government and changes to regulations affecting the mining industry. Forward-looking statements in this release include, among other things, statements regarding the trading of the Common Shares and business, economic, and political conditions in Mongolia. Although we believe the expectations reflected in our forward-looking statements are reasonable, results may vary, and we cannot guarantee future results, levels of activity, performance or achievements. We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

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Overview Steppe Gold (TSX:STGO) is a precious metals development company and gold producer in Mongolia. The company owns the Altan Tsaagan Ovoo (ATO) and the Uudam Khundii (UK) gold projects in Mongolia. Steppe Gold has recently commenced gold production at its flagship ATO project. The company has mined, crushed and stacked approximately 715,000 tonnes of ore with an average grade of approximately 2 g/t gold to date. As of June 2020, Steppe Gold has produced and sold a total of 15,389 ounces of gold and 4,978 ounces of silver generating US$25.3 million. The company is on pace to meet its production goal of 60,000 ounces of gold in 2020. Now that the company has commenced gold production, Steppe Gold intends to continue its feasibility study into the development of the much larger fresh rock resource underlying the current mining operation. The proposed development of a cyanide in leach operation for processing fresh rock is expected to have a life of mine of approximately 12 to 15 years. Existing defined fresh rock resources are expected to be supplemented by the new discovery of high-grade gold and silver mineralization on the Mungu trend. Steppe Gold’s exploration is showing that the high-grade Mungu discovery is semi-continuous to the structurally-controlled mineralization drilled at the ATO 4 deposit and that significant resource expansion is possible. The UK project is the first-of-its-kind joint venture (80/20) between Steppe Gold and the Bayankhongor Provincial Government. The company has completed an initial exploration program on this project consisting of IP and magnetic surveys, as well as rock chip and soil geochemical programs. The program resulted in four discoveries that the company plans to further explore with an extensive program of trenching and drilling in the near-term. Steppe Gold is continuing to asses a number of additional opportunities to acquire exploration licenses and mining projects across Mongolia. Steppe Gold’s management team has a track record of success in Mongolia. Keeping projects on track and under budget is Steppe Gold’s General Manager of Processing Grant Smith. Smith has experience in constructing and operating heap leach operations and most recently worked on the Tujuh Bukit gold heap leach project in East Java, Indonesia. Company Highlights Steppe Gold is a gold producer in Mongolia.Initial capital cost of approximately US$20 million, average cash costs less than US$500 per ounce.Approximately 875,225 tonnes of ore with an average grade of 2 g/t gold has been mined to date at the ATO projectOn pace to hit 2020 production goal of 60,000 ounces of goldUS$28 million gold and silver streaming agreement with Triple Flag Mining Finance Bermuda Ltd. in place.Updated resource estimate and feasibility study underway for the larger fresh rock project underlying the current mining project at open cuttable depths. This larger Phase 2 project would involve the construction of a grinding and CIL circuit and would have an expected life of mine of 12 to 15 years and an annual production profile that could reach approximately 150,000 ounces on a gold equivalent basis.Joint venture partnership in place for the UK project with the Mongolian government.Management has a proven track record of success in Mongolia. Key Projects Mining in Mongolia Mongolia is known as one of the last frontiers for large scale mining projects, offering investors and mining companies alike an interesting opportunity. With the success of Oyu Tolgoi, a tier one producer and one of the largest copper mines in the world, Mongolia has demonstrated the geologic potential for mineral wealth. Mongolia had a GDP of US$11.43 billion in 2017 and has an annual growth rate of approximately six percent. The growth of the economy is supported by commodity exports, such as copper and coal, improved business sentiment and the implementation of a government-led economic adjustment program. The World Bank believes that Mongolia’s growth outlook is positive and is supported by the mining and manufacturing sectors. Gold exploration accounts for 45 percent of the mining sector and 2.6 percent of the country’s GDP, leading to the implementation of policies and programs to help promote gold mining. In March 2017, the Mongolian government signed a Foreign Investment Promotion and Protection Agreement (FIPA) with Canada. The agreement provides Canadian investors operating in Mongolia with a legal framework that is expected to help bring greater predictability and certainty to their investments. Canada is a significant investor in Mongolia and has invested approximately $6.4 billion in the country.Mongolian AssetsSteppe Gold’s ATO Gold-Silver Mine The 5,493-hectare ATO gold-silver project is located in the Dornod province of eastern Mongolia. Steppe Gold’s mining license for the project is fully-permitted for 30 years. Steppe Gold commenced production at the ATO project in December 2019. As of July 2020, Steppe Gold has produced and sold a total of 15,389 ounces of gold and 4,978 ounces of silver which generated a net cash flow of US$25.3 million. The company has mined, crushed and stacked approximately 715,000 tonnes of ore where leaching continues. Steppe Gold remains on pace to produce 60,000 ounces of gold in 2020 at cash costs of circa $500 per ounce from the ATO Mine. The company plans to complete the feasibility study for its Stage 2 expansion project at the ATO mine moving forward. The expansion targets an increase in gold production to 150,000 tonnes per annum from underlying fresh rock ores.2017 technical report A 2017 technical report outlined a project development plan for an open-pit heap leach operation at ATO. The project could produce approximately 147,000 ounces of gold and 673,000 ounces of silver from oxide ores over its 4.5-year mine life. Economics are highlighted by an initial capital cost of approximately US$20 million and average cash costs less than US$500 per ounce.2017 resource estimate In 2017, Steppe Gold released a resource estimate for ATO. The report outlined a proven and probable mineral reserve of 5.23 million tonnes grading 1.25 g/t gold and 10 g/t silver. It also described a measured and indicated resource of 12.23 million tonnes grading 1.49 g/t gold, 9.99 g/t silver, 0.75 percent lead and 1.34 percent zinc, as well as an inferred resource of 1.05 million tonnes grading 1.03 g/t gold, 25.18 g/t silver, 0.52 percent lead and 1.11 percent zinc. Exploration Centerra Gold (TSX:CG), the prior operator and owner of the ATO project, spent over US$25 million on exploration, including the completion of 67,000 meters of drilling and 28,421 meters of trenching. Since acquiring the property, Steppe Gold has completed an additional 20,000 meters of drilling. ATO4 & Mungu Discovery The Mungu discovery is located northeast of the current resource from the ATO 4 deposit. The discovery is located on a 20-kilometer long structurally controlled, north-trending, mid-sulfidation epithermal gold-silver system. Steppe Gold believes that the ATO 4 deposit may be semi-continuous to the mineralization at the Mungu discovery. The ATO 4 Deposit currently remains open along strike to the north and at depth. Moving Forward Now that the company is in production, Steppe Gold plans to turn its focus towards exploration at the ATO deposits and Mungu discovery. The company is also working towards releasing an updated feasibility study for the fresh rock project that is expected to include the Mungu discovery. Steppe Gold is also looking to complete the following activities at ATO:Receive cyanide permit, begin leaching and pour first gold.Complete maiden mineral resource on Mungu deposit.Restart exploration program at ATO and Mungu deposit.The UK Gold Project The 14,397-hectare Uudam Khundii property is comprised of one exploration license and is located 800 kilometers southwest of Ulaanbaatar, Mongolia. The property is an 80/20 joint venture with the Provincial Government of Bayankhongor. The property is located between Erdene Resource Development Corporation’s (TSX:ERD) Bayan Khundii gold discovery and Altan Nar epithermal gold deposits. Steppe Gold has completed an initial exploration program on the property that included geological mapping, geochemical sampling and geophysical surveys. The company expects to commence its trenching and drill programs in the near term. Steppe Gold is also looking into expansion opportunities to further consolidate its footprint in the area. To date the company has completed:1,940 line kilometer ground magnetic survey12 line kilometer IP survey346 rock chip samples8,427 soil geochemical samples Steppe Gold plans to commence a trenching and drilling program at the UK project by the end of 2019.Management Team Matthew Wood — Chairman Matthew Wood is a mineral resource explorer and developer with over 25 years of global industry experience in mining and commodities investments. He has managed investment deals in diamonds, coal, energy, ferrous metals, base and precious metals, among other commodities. His unique skills in technical and economic evaluation of resource opportunities have resulted in a record of nurturing resource deals from early-stage, to market listings and exit strategies for his investors. He was formerly the founder and Executive Chairman of the Mongolian coal company, Hunnu Coal Limited. Hunnu Coal was IPO of the year for all sectors on the ASX in 2010, and its sale for approximately A$500 million in 2011 to Banpu PCL was recognized as the Mines and Money 2012 Deal of the Year. Wood has founded and been involved in many other resource companies and investments over the years. He has extensive experience and many key relationships in Mongolia and was recently awarded the Order of the Polar Star, the highest state honor that can be awarded to a non-citizen of Mongolia. He has an Honours Degree in Geology from the University of New South Wales and a Graduate Certificate in Mineral Economics from the Western Australian School of Mines.Bataa Tumur-Ochir — President and CEO Bataa Tumur-Ochir is responsible for new business acquisitions, development, government and community relations and the daily operations in Mongolia. He has strong relationships with all levels of government in Mongolia and was recently appointed independent advisor to the Ministry of Mining and Heavy Industry responsible for foreign investment and promotion. He is currently a director at GCD Mongolia and CEO and executive director of ASX-listed Wolf Petroleum. Under his guidance, Wolf Petroleum was awarded the “Operator of the Year Award” from the Petroleum Authority of Mongolia, and today, Wolf Petroleum is recognized as the fastest growing petroleum exploration company with the largest petroleum exploration acreage in Mongolia. He holds a bachelor’s degree in business administration and graduate certificates in international business and marketing from Australia and Singapore.Aneel Waraich — Director and Executive VP Aneel Waraich is the founder of ATMA Capital Markets and ATMACORP LTD. He is a financial service professional with progressive experience in asset management and corporate finance businesses. Waraich focuses primarily on advising public and private companies in the natural resource sector. In previous roles at Goodman and Company Investment Counsel and Dundee Capital Markets, he worked as an analyst valuing private companies. Most recently he worked as an investment banker focusing on deal origination, going-public transactions and financings for both public and private companies in the resource and technology sectors. He completed his MBA from the Goodman Institute of Investment Management at the John Molson School of Business.Jeremy South — Senior VP and CFO Jeremy South has been a director of Steppe Gold since March 2017. He has over 33 years of experience in M&A, capital markets and private equity in Europe, North America and Australia, including senior positions in investment banking at Deutsche Bank, NatWest Markets and Deloitte. For 10 years, he was a Global Leader and Mining M&A Advisor at Deloitte. Based in Beijing for four years, he advised leading Asian trading houses and financial investors on mining M&A, financing and strategy, and he has worked with some of Asia’s largest companies. He acted as Chairman of Aldridge Minerals Inc. up until it’s recent sale to Trafigura Ventures. South is a Chartered Accountant and holds a Bachelor of Economics degree from Monash University (Australia). He holds the ICD.D designation as a graduate of the Institute of Corporate Directors.Greg Wood — VP Operations Gregory Wood is an Australian citizen and was appointed as Vice President Operations of Steppe Gold LLC in 2016. He is responsible for all mining-related operations in Mongolia. Prior to joining Steppe, he held positions as Director and Non-Executive Chairman of Carajas Copper Company, Operations Manager of Harvest Minerals and as CEO of Black Star Petroleum. He has extensive experience in the oil and gas industry through his past family oil business’s and has completed the Petroleum Engineering for non-engineers programmer in Houston, Texas. Wood was a systems accountant with over 12 years extensive experience in financial reporting, financial analysis, developing key performance indicators and modeling of financial reports over a number of industries including transport, media and infrastructure. He held management positions at Asciano and Patrick Stevedores.Enkhtuvshin Khishigsuren — VP Exploration Enkhtuvshin Khishigsuren has over 30 years of Mongolian mineral exploration experience. He spent the first 10 to 12 years of his career at Central Geological Expedition doing regional geological mapping in various areas of Mongolia, followed by seven years as senior exploration manager on the exploration of precious metal in Mongolia for Harrods Minerals. Since 2005, he has been running his own company, Erdenyn Erel, which provides exploration and consulting services to western exploration and mining companies. He is responsible for identifying targets and properties based on his knowledge and experience. His experience has resulted in the discovery of several prospective gold and copper deposits in Mongolia; such as the multimillion-ounce gold deposit Olon Ovoot, the Zuun mod molybdenum porphyry deposit and the Shand copper porphyry deposit. He holds a bachelor degree in geological exploration from Azerbaijan State University and a Master’s degree in geological science from Shimane University, Japan.Grant Smith — General Manager of Processing Grant Smith has over 15 years of heap leach experience beginning with Which Creek Copper in the Pilbara region in Western Australia since 2003. Following that, Smith spent time in Laos, Egypt and Mauritania as well as held consultative roles in Mongolia, Kazakhstan and Armenia. More recently, his extensive experience led him to Indonesia where he was responsible for the construction and operation of the heap leach at Tujuh Bukit gold heap leach in East Java, Indonesia.Patrick Michaels — Director Patrick Michaels is the Chairman of Zuri-Invest AG and the Chairman of Asty Capital AG in Zurich, Switzerland. He has been involved in numerous financings of gold mines in North America, among others. He is a well-respected financial adviser and fund manager throughout Europe. Michaels has extensive experience in the fields of mining finance, fund management and asset allocation. He has a background in law and economics and did his training in the areas of private banking and investment research at UBS in Zurich. Additionally, he attended post-graduate courses at the Colorado School of Mines in Golden, Colorado.Dr. Zamba Batjargal — Director Dr. Zamba Batjargal has over 35 years of experience working for the government in Mongolia, dealing with issues of environmental protection and climate change. He was the Minister of the Environment of Mongolia from 1990 to 1996 and Director General of the National Agency for Meteorology, Hydrology and Environmental Monitoring from 1996 to 2001. Dr. Batjargal has experience in working outside of Mongolia due to his engagement in international bi-and multilateral cooperation activities. He was Ambassador of Mongolia to Japan from 2001 to 2005. Between 2005 and 2011, he worked in New York as a Representative of the World Meteorological Organization (WMO) to the UN. Since 2014, he has served as an independent consultant on climate change and the development of green policy for public institutions and non-profit organizations. He was also an advisor at the Office of the President of the United Nations Environmental Assembly (UNEA) in Ulaanbaatar (2014 to 2016). He received his Ph.D. in physics and mathematics in 1978 from the Hydrometeorological State University, St.Petersburg, Russia.Batukhuu Budnyam — Director Batukhuu Budnyam is a successful entrepreneur and financial expert who has extensive experience in the banking and finance sectors in Mongolia. Until recently, Budnyam served as Advisor to Chinggis Khaan Bank. Prior to joining Chinggis Khaan Bank, he was Managing Director of Organic Solutions Mongolia LLC and previous to that, he was Managing Director of MFS Capital LLC. Budnyam is a Mongolian native and speaks fluent English, Russian and German. He has a Bachelor’s Degree in Economics from the National University of Mongolia.Sereenen Jargalan — Director Sereenen Jargalan has been a professor at the Mongolian University of Science and Technology since September 2003 and head of the Department of Mineral Exploration since 2011 where she teaches ore geology and metallogeny to bachelors, masters and doctorate students and supervises Ph.D. student research projects. She has a Ph.D. and Master’s degree in Earth Science from the Institute of Mineralology, Petrology and Economic Geology at Tohoku University in Japan, focused on petrology of igneous rocks and a Bachelor of Mineral Exploration from the Mongolian Polytechnical University. She completed post-doctorate work focused on the REE potential in Mongolia at the Mineral Resources Research Group, Institute for Geo-Resources and Environment and the National Institute of Advanced Industrial Science and Technology, Japan. She has co-authored or contributed to over 50 academic books, articles and other publications. She has been the recipient of numerous academic awards and honors in both Magnolia and Japan.Steve Haggarty – Director Steve Haggarty is the Managing Director of Haggarty Technical Services Corporation and a registered member of the Professional Engineers Ontario. He has over 35 years of industrial experience both on-site and at a corporate level, involving several precious metal and copper producers, with a background in project design, commissioning, start-up, metallurgy, process optimization, project management, reclamation and closure. With a mining career spanning nearly four decades, Haggarty’s industry experience includes 24 years in operations and 14 years in corporate and EPCM-related roles. Most recently, he was Senior Director for the Metallurgy at Barrick Gold Corp. In this role, he was responsible for operational performance improvements, defining GeoMet models, processing strategy and risk mitigation. Haggarty has worked at multiple mine sites around the world, including as General Manager of Barrick Gold’s Veladero heap leach project in Argentina. He is considered a technical leader in heap leach processing, implementation and optimization.

Steppe Gold (TSX:STGO) is a precious metals development company and gold producer in Mongolia. The company owns the Altan Tsaagan Ovoo (ATO) and the Uudam Khundii (UK) gold projects in Mongolia.

Steppe Gold has recently commenced gold production at its flagship ATO project. The company has mined, crushed and stacked approximately 715,000 tonnes of ore with an average grade of approximately 2 g/t gold to date. As of June 2020, Steppe Gold has produced and sold a total of 15,389 ounces of gold and 4,978 ounces of silver generating US$25.3 million. The company is on pace to meet its production goal of 60,000 ounces of gold in 2020.

Now that the company has commenced gold production, Steppe Gold intends to continue its feasibility study into the development of the much larger fresh rock resource underlying the current mining operation. The proposed development of a cyanide in leach operation for processing fresh rock is expected to have a life of mine of approximately 12 to 15 years.

Existing defined fresh rock resources are expected to be supplemented by the new discovery of high-grade gold and silver mineralization on the Mungu trend. Steppe Gold’s exploration is showing that the high-grade Mungu discovery is semi-continuous to the structurally-controlled mineralization drilled at the ATO 4 deposit and that significant resource expansion is possible.

The UK project is the first-of-its-kind joint venture (80/20) between Steppe Gold and the Bayankhongor Provincial Government. The company has completed an initial exploration program on this project consisting of IP and magnetic surveys, as well as rock chip and soil geochemical programs. The program resulted in four discoveries that the company plans to further explore with an extensive program of trenching and drilling in the near-term.

Steppe Gold is continuing to asses a number of additional opportunities to acquire exploration licenses and mining projects across Mongolia.

Steppe Gold’s management team has a track record of success in Mongolia. Keeping projects on track and under budget is Steppe Gold’s General Manager of Processing Grant Smith. Smith has experience in constructing and operating heap leach operations and most recently worked on the Tujuh Bukit gold heap leach project in East Java, Indonesia.

Mongolia is known as one of the last frontiers for large scale mining projects, offering investors and mining companies alike an interesting opportunity. With the success of Oyu Tolgoi, a tier one producer and one of the largest copper mines in the world, Mongolia has demonstrated the geologic potential for mineral wealth. Mongolia had a GDP of US$11.43 billion in 2017 and has an annual growth rate of approximately six percent. The growth of the economy is supported by commodity exports, such as copper and coal, improved business sentiment and the implementation of a government-led economic adjustment program.

The World Bank believes that Mongolia’s growth outlook is positive and is supported by the mining and manufacturing sectors. Gold exploration accounts for 45 percent of the mining sector and 2.6 percent of the country’s GDP, leading to the implementation of policies and programs to help promote gold mining.

In March 2017, the Mongolian government signed a Foreign Investment Promotion and Protection Agreement (FIPA) with Canada. The agreement provides Canadian investors operating in Mongolia with a legal framework that is expected to help bring greater predictability and certainty to their investments. Canada is a significant investor in Mongolia and has invested approximately $6.4 billion in the country.

The 5,493-hectare ATO gold-silver project is located in the Dornod province of eastern Mongolia. Steppe Gold’s mining license for the project is fully-permitted for 30 years.

Steppe Gold commenced production at the ATO project in December 2019. As of July 2020, Steppe Gold has produced and sold a total of 15,389 ounces of gold and 4,978 ounces of silver which generated a net cash flow of US$25.3 million. The company has mined, crushed and stacked approximately 715,000 tonnes of ore where leaching continues.

Steppe Gold remains on pace to produce 60,000 ounces of gold in 2020 at cash costs of circa $500 per ounce from the ATO Mine. The company plans to complete the feasibility study for its Stage 2 expansion project at the ATO mine moving forward. The expansion targets an increase in gold production to 150,000 tonnes per annum from underlying fresh rock ores.

A 2017 technical report outlined a project development plan for an open-pit heap leach operation at ATO. The project could produce approximately 147,000 ounces of gold and 673,000 ounces of silver from oxide ores over its 4.5-year mine life. Economics are highlighted by an initial capital cost of approximately US$20 million and average cash costs less than US$500 per ounce.

In 2017, Steppe Gold released a resource estimate for ATO. The report outlined a proven and probable mineral reserve of 5.23 million tonnes grading 1.25 g/t gold and 10 g/t silver. It also described a measured and indicated resource of 12.23 million tonnes grading 1.49 g/t gold, 9.99 g/t silver, 0.75 percent lead and 1.34 percent zinc, as well as an inferred resource of 1.05 million tonnes grading 1.03 g/t gold, 25.18 g/t silver, 0.52 percent lead and 1.11 percent zinc.

Centerra Gold (TSX:CG), the prior operator and owner of the ATO project, spent over US$25 million on exploration, including the completion of 67,000 meters of drilling and 28,421 meters of trenching. Since acquiring the property, Steppe Gold has completed an additional 20,000 meters of drilling.

The Mungu discovery is located northeast of the current resource from the ATO 4 deposit. The discovery is located on a 20-kilometer long structurally controlled, north-trending, mid-sulfidation epithermal gold-silver system. Steppe Gold believes that the ATO 4 deposit may be semi-continuous to the mineralization at the Mungu discovery. The ATO 4 Deposit currently remains open along strike to the north and at depth.

Now that the company is in production, Steppe Gold plans to turn its focus towards exploration at the ATO deposits and Mungu discovery. The company is also working towards releasing an updated feasibility study for the fresh rock project that is expected to include the Mungu discovery. Steppe Gold is also looking to complete the following activities at ATO:

The 14,397-hectare Uudam Khundii property is comprised of one exploration license and is located 800 kilometers southwest of Ulaanbaatar, Mongolia. The property is an 80/20 joint venture with the Provincial Government of Bayankhongor.

The property is located between Erdene Resource Development Corporation’s (TSX:ERD) Bayan Khundii gold discovery and Altan Nar epithermal gold deposits.

Steppe Gold has completed an initial exploration program on the property that included geological mapping, geochemical sampling and geophysical surveys. The company expects to commence its trenching and drill programs in the near term. Steppe Gold is also looking into expansion opportunities to further consolidate its footprint in the area.

To date the company has completed:

Steppe Gold plans to commence a trenching and drilling program at the UK project by the end of 2019.

Matthew Wood is a mineral resource explorer and developer with over 25 years of global industry experience in mining and commodities investments. He has managed investment deals in diamonds, coal, energy, ferrous metals, base and precious metals, among other commodities. His unique skills in technical and economic evaluation of resource opportunities have resulted in a record of nurturing resource deals from early-stage, to market listings and exit strategies for his investors.

He was formerly the founder and Executive Chairman of the Mongolian coal company, Hunnu Coal Limited. Hunnu Coal was IPO of the year for all sectors on the ASX in 2010, and its sale for approximately A$500 million in 2011 to Banpu PCL was recognized as the Mines and Money 2012 Deal of the Year. Wood has founded and been involved in many other resource companies and investments over the years. He has extensive experience and many key relationships in Mongolia and was recently awarded the Order of the Polar Star, the highest state honor that can be awarded to a non-citizen of Mongolia. He has an Honours Degree in Geology from the University of New South Wales and a Graduate Certificate in Mineral Economics from the Western Australian School of Mines.

Bataa Tumur-Ochir is responsible for new business acquisitions, development, government and community relations and the daily operations in Mongolia. He has strong relationships with all levels of government in Mongolia and was recently appointed independent advisor to the Ministry of Mining and Heavy Industry responsible for foreign investment and promotion.

He is currently a director at GCD Mongolia and CEO and executive director of ASX-listed Wolf Petroleum. Under his guidance, Wolf Petroleum was awarded the “Operator of the Year Award” from the Petroleum Authority of Mongolia, and today, Wolf Petroleum is recognized as the fastest growing petroleum exploration company with the largest petroleum exploration acreage in Mongolia. He holds a bachelor’s degree in business administration and graduate certificates in international business and marketing from Australia and Singapore.

Aneel Waraich is the founder of ATMA Capital Markets and ATMACORP LTD. He is a financial service professional with progressive experience in asset management and corporate finance businesses. Waraich focuses primarily on advising public and private companies in the natural resource sector.

In previous roles at Goodman and Company Investment Counsel and Dundee Capital Markets, he worked as an analyst valuing private companies. Most recently he worked as an investment banker focusing on deal origination, going-public transactions and financings for both public and private companies in the resource and technology sectors. He completed his MBA from the Goodman Institute of Investment Management at the John Molson School of Business.

Jeremy South has been a director of Steppe Gold since March 2017. He has over 33 years of experience in M&A, capital markets and private equity in Europe, North America and Australia, including senior positions in investment banking at Deutsche Bank, NatWest Markets and Deloitte. For 10 years, he was a Global Leader and Mining M&A Advisor at Deloitte.

Based in Beijing for four years, he advised leading Asian trading houses and financial investors on mining M&A, financing and strategy, and he has worked with some of Asia’s largest companies. He acted as Chairman of Aldridge Minerals Inc. up until it’s recent sale to Trafigura Ventures. South is a Chartered Accountant and holds a Bachelor of Economics degree from Monash University (Australia). He holds the ICD.D designation as a graduate of the Institute of Corporate Directors.

Gregory Wood is an Australian citizen and was appointed as Vice President Operations of Steppe Gold LLC in 2016. He is responsible for all mining-related operations in Mongolia. Prior to joining Steppe, he held positions as Director and Non-Executive Chairman of Carajas Copper Company, Operations Manager of Harvest Minerals and as CEO of Black Star Petroleum. He has extensive experience in the oil and gas industry through his past family oil business’s and has completed the Petroleum Engineering for non-engineers programmer in Houston, Texas.

Wood was a systems accountant with over 12 years extensive experience in financial reporting, financial analysis, developing key performance indicators and modeling of financial reports over a number of industries including transport, media and infrastructure. He held management positions at Asciano and Patrick Stevedores.

Enkhtuvshin Khishigsuren has over 30 years of Mongolian mineral exploration experience. He spent the first 10 to 12 years of his career at Central Geological Expedition doing regional geological mapping in various areas of Mongolia, followed by seven years as senior exploration manager on the exploration of precious metal in Mongolia for Harrods Minerals.

Since 2005, he has been running his own company, Erdenyn Erel, which provides exploration and consulting services to western exploration and mining companies. He is responsible for identifying targets and properties based on his knowledge and experience. His experience has resulted in the discovery of several prospective gold and copper deposits in Mongolia; such as the multimillion-ounce gold deposit Olon Ovoot, the Zuun mod molybdenum porphyry deposit and the Shand copper porphyry deposit. He holds a bachelor degree in geological exploration from Azerbaijan State University and a Master’s degree in geological science from Shimane University, Japan.

Grant Smith has over 15 years of heap leach experience beginning with Which Creek Copper in the Pilbara region in Western Australia since 2003. Following that, Smith spent time in Laos, Egypt and Mauritania as well as held consultative roles in Mongolia, Kazakhstan and Armenia. More recently, his extensive experience led him to Indonesia where he was responsible for the construction and operation of the heap leach at Tujuh Bukit gold heap leach in East Java, Indonesia.

Patrick Michaels is the Chairman of Zuri-Invest AG and the Chairman of Asty Capital AG in Zurich, Switzerland. He has been involved in numerous financings of gold mines in North America, among others. He is a well-respected financial adviser and fund manager throughout Europe.

Michaels has extensive experience in the fields of mining finance, fund management and asset allocation. He has a background in law and economics and did his training in the areas of private banking and investment research at UBS in Zurich. Additionally, he attended post-graduate courses at the Colorado School of Mines in Golden, Colorado.

Dr. Zamba Batjargal has over 35 years of experience working for the government in Mongolia, dealing with issues of environmental protection and climate change. He was the Minister of the Environment of Mongolia from 1990 to 1996 and Director General of the National Agency for Meteorology, Hydrology and Environmental Monitoring from 1996 to 2001. Dr. Batjargal has experience in working outside of Mongolia due to his engagement in international bi-and multilateral cooperation activities.

He was Ambassador of Mongolia to Japan from 2001 to 2005. Between 2005 and 2011, he worked in New York as a Representative of the World Meteorological Organization (WMO) to the UN. Since 2014, he has served as an independent consultant on climate change and the development of green policy for public institutions and non-profit organizations. He was also an advisor at the Office of the President of the United Nations Environmental Assembly (UNEA) in Ulaanbaatar (2014 to 2016). He received his Ph.D. in physics and mathematics in 1978 from the Hydrometeorological State University, St.Petersburg, Russia.

Batukhuu Budnyam is a successful entrepreneur and financial expert who has extensive experience in the banking and finance sectors in Mongolia. Until recently, Budnyam served as Advisor to Chinggis Khaan Bank. Prior to joining Chinggis Khaan Bank, he was Managing Director of Organic Solutions Mongolia LLC and previous to that, he was Managing Director of MFS Capital LLC. Budnyam is a Mongolian native and speaks fluent English, Russian and German. He has a Bachelor’s Degree in Economics from the National University of Mongolia.

Sereenen Jargalan has been a professor at the Mongolian University of Science and Technology since September 2003 and head of the Department of Mineral Exploration since 2011 where she teaches ore geology and metallogeny to bachelors, masters and doctorate students and supervises Ph.D. student research projects. She has a Ph.D. and Master’s degree in Earth Science from the Institute of Mineralology, Petrology and Economic Geology at Tohoku University in Japan, focused on petrology of igneous rocks and a Bachelor of Mineral Exploration from the Mongolian Polytechnical University.

She completed post-doctorate work focused on the REE potential in Mongolia at the Mineral Resources Research Group, Institute for Geo-Resources and Environment and the National Institute of Advanced Industrial Science and Technology, Japan. She has co-authored or contributed to over 50 academic books, articles and other publications. She has been the recipient of numerous academic awards and honors in both Magnolia and Japan.

Steve Haggarty is the Managing Director of Haggarty Technical Services Corporation and a registered member of the Professional Engineers Ontario. He has over 35 years of industrial experience both on-site and at a corporate level, involving several precious metal and copper producers, with a background in project design, commissioning, start-up, metallurgy, process optimization, project management, reclamation and closure.

With a mining career spanning nearly four decades, Haggarty’s industry experience includes 24 years in operations and 14 years in corporate and EPCM-related roles. Most recently, he was Senior Director for the Metallurgy at Barrick Gold Corp. In this role, he was responsible for operational performance improvements, defining GeoMet models, processing strategy and risk mitigation. Haggarty has worked at multiple mine sites around the world, including as General Manager of Barrick Gold’s Veladero heap leach project in Argentina. He is considered a technical leader in heap leach processing, implementation and optimization.

Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is pleased to provide an operations update for the third quarter.

Gold production in the third quarter was approximately 13,300 oz, up 28% from the second quarter where the Company produced 10,400 oz. The Company has continued with its regular pour schedule, twice per month. Ongoing deliveries to MongolBank attract a 5% premium to the LME Spot price.

Mining and stacking activities were on plan for the third quarter and we are now stacking ore on the second lift of the leach pad. Mining activities decreased in September as the planned fall and winter slowdown commenced, with 266,292 tonnes mined across ATO2, ATO1 and ATO4, and 230,399 tonnes crushed and stacked in the third quarter.

As of September 30, 2022 the Company has now mined 3.29 million tonnes, crushed and stacked 2.56 million tonnes @ 1.93 g/t for approximately 158,884 ounces of gold on the leach pad and 684,000 tonnes of ore at an average grade of 1.0 g/t on the ROM pad. At an estimated 70% recovery, the total inventory on the leach pad, ROM pad and pit floors is approximately 71,000 ounces of recoverable gold.

President and CEO of Steppe Gold, Bataa Tumur-Ochir commented, "We are very pleased to report continued ramp up of production at the ATO Gold Mine in the third quarter. All activities at site are operating well. We are still looking to build our reagent stocks in the fourth quarter with new deliveries expected in October and November. We maintain a strong inventory of ore and we plan to leach through the winter, at planned lower production rates."

Steppe Gold Limited 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 Street19A, Sukhbaatar District 1,Ulaanbaatar 14241, MongoliaTel: +976 7732 1914

Cautionary Note Regarding Forward-Looking Statements:

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/139551

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This document corrects and replaces in its entirety the previous release that was issued by Steppe Gold Limited earlier today, where it should have read, "The Triple Flag Gold Prepay Facility will be repaid over 6 months starting December 23, 2022 by six monthly deliveries of 500 oz of gold for a total of 3,000 oz." instead of "December 23, 2023." The corrected release is found below and all other content within this release is unchanged:

Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is pleased to announce that it has entered into an agreement with Triple Flag International Ltd ("Triple Flag") for a short-term gold prepay facility (the "Triple Flag Gold Prepay Facility").

One of the consequences of the zero covid policy in China and the attendant China/Mongolia border closures has been a shortage of available US dollars with banks in Mongolia. Steppe Gold sales revenue is received in Mongolian Tugrik. While most of its operating costs are also paid in local currency, we require US dollars to acquire reagents and to fund deliveries to Triple Flag. The Triple Flag Gold Prepay Facility allows Steppe Gold to continue to meet all of its obligations during this temporary market disruption.

The prepay represents an elegant funding solution for a short term currency issue. The Company is operating as planned with gold pours every two weeks and the advancement of the Phase 2 Expansion efforts continue.

Under the terms of the agreement Triple Flag has advanced net funds of US$4.6 million to Steppe Gold after fees and legal costs. The Triple Flag Gold Prepay Facility will be repaid over 6 months starting December 23, 2022 by six monthly deliveries of 500 oz of gold for a total of 3,000 oz.

Steppe Gold Limited 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 Street19A, Sukhbaatar District 1,Ulaanbaatar 14241, MongoliaTel: +976 7732 1914

Cautionary Note Regarding Forward-Looking Statements:

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/138884

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Under the terms of the agreement Triple Flag has advanced net funds of US$4.6 million to Steppe Gold after fees and legal costs. The Triple Flag Gold Prepay Facility will be repaid over 6 months starting December 23, 2023 by six monthly deliveries of 500 oz of gold for a total of 3,000 oz.

Steppe Gold Limited 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 Street19A, Sukhbaatar District 1,Ulaanbaatar 14241, MongoliaTel: +976 7732 1914

Cautionary Note Regarding Forward-Looking Statements:

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/138856

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Steppe Gold Ltd. (TSX: STGO): The full report can be accessed by clicking on the following link: https:stonegateinc.comreportsSTGO_Q2FY22.pdf

To view the full announcement, including downloadable images, bios, and more, click here.

Click image above to view full announcement.

About Stonegate Capital Partners Stonegate Capital Partners is a Dallas-based corporate advisory firm dedicated to serving the specialized needs of small-cap public companies. Since our inception, our mission has been to find innovative, undervalued public companies for our network of leading institutional investors who seek high-quality investment opportunities.

Stonegate Capital Partners (214) 987-4121 info@stonegateinc.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/136813

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Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is extremely pleased to report two major milestones on its Phase 2 Expansion at the ATO Gold Mine.

Steppe Gold's ATO Gold Mine has received relevant approvals from the Ministry of Energy and National Dispatching Center to build and connect a high voltage power line system of 110/35/10 kVand use 10MW from the Dornod Province State Power Plant. This is a major milestone in the Phase 2 Expansion, and a special purpose company Steppe Power LLC has been established to manage the development and connection to the state grid system.

The Company retained a leading global engineering firm to advise on available energy options for the Phase 2 Expansion, including renewable alternatives. Renewable options are generally too expensive at this scale, with traditional energy sources more economic.

With the recent significant rise in fuel prices, connecting to the state grid power system will dramatically reduce projected energy costs by 75%, or from approximately $32M to $8M annually at the Phase 2 Expansion and will reduce expected cash costs by well in excess of $100/oz.

The Company plans to commence the construction of a high voltage power line system in 2023-2024, and the flotation plant should be complete by Q3 2024.

Steppe Gold reports that the Phase 2 Expansion continues to ramp up with the new fixed crusher nearing completion in October.

All equipment for the new crushing unit has arrived via 15 open-top railway wagons and 62 trucks.

Currently, 160 tonnes of equipment have been installed out of a total of 220 tonnes, and installation work is 72% complete.

The new 1,000 tonnes per hour crushing unit consists of 2 jaw crushers, 4 hydraulic cone crushers, 5 vibration screens and 5 vibration feeders, 17 conveyor systems, 3 sets of buffer bins with steel structure, 3 underground buffer bins with steel structure and central control system.

Once operational, the new crushing unit will increase Steppe Gold's current capacity by 4 times, up to 4Mt per annum/ at 50% of its power.

Learn more about our new crushing unit in this video: https://youtu.be/gy4W7ZPW2bU

Fig 1: Fixed Crushing Unit Work in Progress

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6562/135360_c614a577a4613b70_001full.jpg

Fig 2: Fixed Crushing Unit Work in Progress

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6562/135360_c614a577a4613b70_002full.jpg

As of August 20, the Company has mined 3.24 million tonnes, crushed and stacked 2.46 million tonnes @ 1.93 g/t ~ 152,510 ounces on the leach pad and 781,500 tonnes of ore at an average grade of 1.17 g/t on the ROM pad. At an estimated 70% recovery, the total inventory on the leach pad, ROM pad and pit floors is approximately 80,000 ounces of recoverable gold.

The Company has received a new batch of reagents via rail and will increase the rate of production in the coming months.

President and CEO of Steppe Gold, Bataa Tumur-Ochir, commented, "We are pleased to report solid progress on the new fixed crusher, which is a critical step in the Phase 2 Expansion. Despite a challenging period with COVID-related lockdowns in China and continued border closures, we have shipped all heavy equipment and installation work is rapidly advancing.

The Company has over 781,500 tonnes of ore on the ROM pad in addition to 735,000 tonnes of blasted material on the pit floors, and the new crushing unit will significantly increase daily crushing rates at the Phase 1 project in the winter months. We are also delighted to announce government approval to connect to the state grid power system and quota to use 10MW, which will significantly reduce operating costs for the Phase 2 Expansion of the ATO Gold Mine. This is a major milestone for us as we accelerate the major capital items for this next phase.

We also continue to work on optimizing the Phase 2 Expansion through exploration drilling and we plan to announce updates to the mine plan in the coming month or so. We are well advanced with design work on the expansion facilities, and new fuel and chemical storage facilities are complete."

Fig. 3: Leach Pad at ATO Gold Mine with Lift Complete

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6562/135360_c614a577a4613b70_003full.jpg

Fig. 4: ROM Pad at ATO Gold Mine

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6562/135360_c614a577a4613b70_004full.jpg

Fig 5: Fixed Crushing Unit Work in Progress

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6562/135360_c614a577a4613b70_005full.jpg

Fig 6: Fixed Crushing Unit Work in Progress

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6562/135360_c614a577a4613b70_006full.jpg

Fig 7: Fixed Crushing Unit Work in Progress

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6562/135360_c614a577a4613b70_007full.jpg

Steppe Gold Limited 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 Street19A, Sukhbaatar District 1,Ulaanbaatar 14241, Mongolia Tel: +976 7732 1914

Cautionary Note Regarding Forward-Looking Statements:

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/135360

News Provided by Newsfile via QuoteMedia

Precious metals are rare, naturally occurring, metallic assets that have high economic value.

In the past, the precious metals market was important because these commodities were used as currency. Today, precious metals are considered valuable because of their investment and industrial uses.

But what is the best precious metal to invest in? Different investors have different needs, and it’s important to be aware of the factors that affect supply, demand and prices for each precious metal before making a financial decision.

Below is a quick overview of the gold, silver, platinum and palladium markets. Those four are the most popular of the precious metals, and all can be good investment choices. Read on to find out the ways to invest and what to know before you buy.

The best-known precious metals are gold and silver, and it’s not hard to see why they are good assets to add to an investment portfolio. Gold is a key material for jewelry, and is also used as a store of wealth by investors around the world. Indeed, many believe that it’s superior to any and all paper currencies.

Silver is also used as a store of wealth and in jewelry, but unlike gold bullion, it’s also subject to a fair amount of industrial demand. In other words, the metal is not only bought by investors, but also by manufacturers that then put it to use in various ways.

Silver trading is intriguing because those applications are incredibly varied — the white metal is used in batteries, electronic devices and as a catalyst to produce industrial chemicals, but it’s also found in medical devices and in the automotive industry.

Gold and silver prices are most heavily affected by global economic and political changes. Both metals are considered safe-haven investments, and tend to receive increased attention from investors in times of turmoil. If you believe that more tumultuous times are in store, you may want to consider owning gold and silver bullion as a hedge against these troubles.

Sister metals palladium and platinum are also well-known precious metals. Like silver and gold, both metals are used in jewelry and are bought by investors for portfolio diversification.

However, what they’re perhaps best known for is their use in the automotive industry, specifically in catalytic converters: palladium for gasoline engines, and platinum for diesel engines.

While platinum and palladium prices sometimes also move because of worldwide economic and political volatility, they are influenced more strongly by supply and demand dynamics. In recent years, higher demand and strikes at key mines have pushed the markets for both platinum and palladium into deficit.

Investors who chart these changes and think those circumstances will eventually result in higher platinum and palladium prices may want to consider owning these metals to make a profit.

For investors looking to flex some purchasing power in the precious metals space, there’s perhaps no time like the present. Luckily, those interested in gold, silver, platinum or palladium have myriad options in terms of how to buy into the precious metals space.

From investing in stocks and mutual funds, to purchasing an exchange-traded fund to physically buying precious metals coins, there are many ways to get involved in the space. All it takes is some research to determine which is the best fit.

As a final note, it’s worth being aware that while gold, silver, platinum and palladium are undeniably the most high-profile precious metals, other precious metals do exist. Rhodium and rhenium are two fairly common ones, with rarer examples being germanium and beryllium — getting exposure to these metals is more complex.

This is an updated version of an article originally published by the Investing News Network in 2017.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

First Tellurium Corp. (CSE: FTEL OTC FSTTF ) (the "Company" or "First Tellurium"), reports that channel sampling is underway at the Company's Deer Horn Property in west-central British Columbia, following up on rock sampling at the Pond and H Spot showings in August and September which encountered widespread porphyry-style mineralization (assays pending). The team will also conduct channel sampling on a third zone of porphyry-style mineralization northeast of the Pond and H Spot zones. This target was first identified in 2012 and never explored. In addition, a prominent quartz vein outcrop at least three meters wide, discovered in September, will be sampled and measured.

"Dr. Groat and his team came back very excited about what they found last month," said FTEL President and CEO Tyrone Docherty. "It's why they wanted to get back and start drilling immediately before we lost our fall weather window. Unfortunately, we weren't able to coordinate all the logistics with the drilling company in time for the 2022 season."

Larger Drill Campaign Proposed for 2023 "While we'd like to get a limited number of drill holes completed this season, waiting until next year gives us a longer window for comprehensive drilling," said Docherty. "In addition, assays and information from this year's sampling will give us better intel for planning what will be a larger drill campaign in 2023. In addition to drilling the Pond and H Spot zones, we hope to expand our 2023 drilling to include the new target. This could greatly expand the porphyry potential at Deer Horn."

Photo Gallery from September Sampling Program A photo gallery from the August-September program is now available for viewing here on the Company's website.

"Looking at these photos, shareholders can see why we're so excited about the additional work now underway," said Docherty. "You see multiple targets in porphyry-style outcrop over a broad area. This is why Dr. Groat wanted to get a drill on site as soon as possible, and why he returned to the property again this week for channel sampling."

Sampling the Third Showing of Porphyry-Style Mineralization The third porphyry-style showing of copper-gold mineralization occupies the northeast quadrant of Deer Horn's 51-square kilometer claim holdings, on a ridge crest 1.8 km northwest of Kenney Lake. Select grab samples from this showing in 2012 graded from 10 to 4540 ppm Cu, from 0.07 to 7.72 ppm Ag and from

A key objective of the current sampling is to identify drill targets for this third zone.

The Pond Showing at First Tellurium's Deer Horn Property. Click here to visit the full photo gallery.

"This third showing has intrigued us for a long time," said Docherty. "The May 2018 PEA was specific in its recommendations for further work on the zone, noting that the area had no known exploration history and that the geology was indicative of porphyry-style mineralization."

FTEL's New Website, Presentation and Video We are also excited to announce the launch of our new website , where you'll find information about our company and properties. In addition, we have also released a new animated pitch deck, which you can find here . This presentation provides an overview of our business and future opportunities. Finally, we have also released a new explainer video, which you can find here . This video dives into the details of our properties and how they can benefit First Tellurium Investors.

Ab out First Tellurium Corp. First Tellurium's unique business model is to generate revenue and value through mineral discovery, project development, project generation and cooperative access to untapped mineral regions in Indigenous territory with sustainable exploration.

Our polymetallic (tellurium, gold, silver copper, tungsten) Deer Horn Project in British Columbia and Klondike tellurium-gold property in Colorado anchor a diversified search for metals, working in alliance with Indigenous peoples, NGOs, governments and leading metals buyers. This is the future of mineral exploration: generating revenue by exploring responsibly and leveraging diverse partnerships.

First Tellurium proudly adheres to and supports the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent.

Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.

Forward-looking information All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated event .

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Vancouver, British Columbia TheNewswire - October 6, 2022 Bathurst Metal Corp. ( TSXV: BMV) (OTC:BMVVF) (" Bathurst " or the " Company ") is pleased to announce the agreement with Nunavut Tunngavik Incorporated to obtain a 100% interest in the minerals within, upon or under Inuit Owned Mineral Title Lands parcel CO-62 comprising approximately 10,433 hectares. The property is immediately to the north of the Company's 100% owned Speers Lake property and is approximately 100 km south of Kugluktuk in Nunavut. The Mineral Exploration Agreement includes the Inuit Owned Lands Mineral Production Lease, which sets out the details of a 12% net profits royalty. In determining the net profits, the available deductions which can be deducted from gross revenues in each year are limited to 70% of gross revenues.

Lorne Warner (P. Geo), President of Bathurst commented "The new acquisition doubles the Company's land holdings over the Muskox Intrusion. The claims also host a Palladium/Platinum/Chromitite, ultramafic layer (the "Reef") exposed at surface. Data from historical rock sampling indicated the Reef hosted significantly higher Pd/Pt concentrations (up to 6.23 grams/tonne Pd/Pt) near structures hosting younger ultramafic dykes. The company was able to acquire the claims through the assistance of the Kitikmeot Inuit Association".

McGregor Lake/Speers Lake Projects

Previously, the company had acquired a 100% interest of approximately 10,433 Ha covering the exposure of the Proterozoic, Layered Muskox Ultramafic Intrusive (LMUI) in western Nunavut, now called the McGregor and Speers Lake projects. The LMUI outcrops over 80 kilometres along strike and could be one of the largest layered, ultramafic complexes in the world based on regional airborne surveys. The region has received only sporadic, systematic exploration since its first discovery and exploration by Inco in the late 1950's. Additional systematic exploration was not conducted again until the 1980's and in 1999 to 2007. Several geochemical, geophysical, geological mapping and limited diamond drilling has been undertaken on the property. These studies have been able to define at least two sulphide pulses associated with the emplacement of the LMUI. These pulses both contain high nickel and copper concentrations with associated precious metals.

Listed below are some of the more significant precious metal assay results from rock sampling to date.

The Pyrrhotite Lake Area is approximately 5 kilometres south of the McGregor Lake Showings also along the eastern contact of the LMUI with the Archean Age Metasediments. Surface sampling was again able to return high precious metal values. Base metal values as shown in drill hole 87-P5 table also show high copper and nickel concentrations; however the relationship between precious and base metals does not indicate a strong positive correlation in some areas. Data compilation suggests the possibility of mineralization having been remobilized.

Diamond Drill Hole 87-P5 Assay Results

Thickness is core length, true width is unknown.

Lorne Warner, P. Geo, is a qualified person as defined by National Instrument 43-101 and has reviewed and approved the scientific and technical disclosure in this news release.

On behalf of the Board of Directors

For more information contact Harold Forzley, CEO

Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain of the statements made and information contained herein may contain forward- looking information within the meaning of applicable Canadian securities laws. Forward-looking information includes, but is not limited to, information concerning the Company's intentions with respect to the development of its mineral properties. Forward-looking information is based on the views, opinions, intentions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated or projected in the forward-looking information (including the actions of other parties who have agreed to do certain things and the approval of certain regulatory bodies). Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws, or to comment on analyses, expectations or statements made by third parties in respect of the Company, its financial or operating results or its securities. The reader is cautioned not to place undue reliance on forward-looking information.

On behalf of the Board of Directors

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Vancouver, Canada TheNewswire - October 5, 2022 Nexus Gold Corp. (" Nexus Gold " or the " Company ") (TSXV:NXS ) ( OTC:NXXGF ) ( FSE:N6E) is pleased to announce the effective date for its previously announced spinout (the " Spinout ") of the Company's Canadian projects (including the McKenzie Gold Project, located in Red Lake, Ontario) by way of the distribution of the shares of its subsidiary Nexus Metals Corp. (" Nexus Metals ") to the shareholders of the Company through a statutory plan of arrangement (the " Arrangement "). The Arrangement is expected to take effect at 12:01 a.m. on October 12, 2022 (the " Effective Date ").

Pursuant to the terms of the Arrangement, holders of common shares of the Company (the " Existing Nexus Gold Shares ") at the Effective Date will receive one new common share of the Company (each, a " New Nexus Gold Share ") in exchange for each Existing Nexus Gold Share they hold (on a one for one basis) and will receive 1/7 of one Nexus Metals share (each, a " Nexus Metals Share "). The New Nexus Gold Shares are expected to commence trading on the TSX Venture Exchange at the market open on October 14, 2022, under the new CUSIP 65345J105 .

The registered shareholders of the Company (the " Shareholders ") will receive a letter of transmittal (each a " Letter of Transmittal ") with respect to the Arrangement with information on how to surrender certificates representing the Existing Nexus Gold Shares to the Company's depositary, Computershare Investor Services Inc. (" Computershare "). All Shareholders who submit a duly completed Letter of Transmittal along with their respective share certificate(s) to Computershare, will receive a certificate or a DRS statement representing the New Nexus Gold Shares and the Nexus Metals Shares to which they are entitled. Shareholders whose Existing Nexus Gold Shares are registered in the name of an intermediary (such as a broker, investment dealer, bank, or trust company) do not have to take any action and will receive their New Nexus Gold Shares and Nexus Metals Shares through such intermediary.

Further information regarding the Arrangement and the Spinout is available in the Company's management information circular dated June 7, 2022, a copy of which is available under Nexus Gold's profile on SEDAR at www.sedar.com .

Nexus Metals is in the process of applying to have the Nexus Metals Shares listed on the Canadian Securities Exchange (the " CSE "). Listing approval will be subject to Nexus Metals satisfying all of the listing conditions of the CSE.

The Spinout is intended to allow the Company to segregate its assets for the purpose of more focused marketing and financing opportunities. Following the Spinout, the Company will continue to develop international opportunities, while Nexus Metals will focus on the Canadian exploration projects.

The Company also advises it is continuing with its due diligence process regarding the acquisition of one or more projects for both Nexus Metals and Nexus Gold. The Company is focused on adding Canadian-based energy/battery metals (i.e., lithium, copper, nickel, etc.) projects to Nexus Metals, while continuing to focus on international precious metals projects in Nexus Gold. Project portfolios of Nexus Metals and Nexus Gold will be adjusted over time to reflect the more specific focus of each company.

Nexus Gold is a Canadian-based gold exploration and development company with an extensive portfolio of projects in Canada and West Africa. Upon completion of the Arrangement, the Company will continue development of assets in West Africa in addition to broadening its scope to other jurisdictions.

For more information, please visit nxs.gold

On behalf of the Board of Directors of

info@nexusgoldcorp.com www.nexusgoldcorp.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements, except as required by applicable laws.

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Vancouver, British Columbia TheNewswire - October 5, 2022 - Leocor Gold Inc. (the " Company " or " Leocor ") (CSE:LECR ) ( OTC:LECRF) is pleased to announce that it has entered into an option to purchase agreement (the " Option Agreement "), dated September 14, 2022, with an arms-length party(the " Vendor "), pursuant to which it has been granted the right to acquire the Joes Lake Property (the " Property "). The Property consists of a 300-hectare exploration-stage parcel located in the Province of Newfoundland.

Pursuant to the Option Agreement, the Company can acquire the Property by completing a series of cash payments and share issuances to the Vendor and incurring exploration expenditures on the Property over a six-year term, as follows:

Assuming the Company exercises the option and acquires the Property, it will remain subject to a two percent (2.0%) net smelter returns royalty in favour of the Vendor on commercial production from the Property. One-half (1.0%) of the royalty can be purchased from the Vendor at any time by completing a one-time cash payment of $1,000,000.

All common shares issued to the Vendor will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. No finders' fees or commissions are owing by the Company in connection with the entering into of the Option Agreement.

Leocor Gold Inc. is a British Columbia-based resource company involved in the acquisition and exploration of precious metal projects, with a current focus in Atlantic Canada. Leocor, through outright ownership and earn-in agreements, currently controls several gold-copper projects in prime exploration ground located within the prolific Baie Verte Mining District. Leocor's Bae Verte portfolio includes the Dorset, Dorset Extension, Copper Creek and Five Mile Brook projects, creating a contiguous nearly 2,000-hectare exploration corridor. The Company also controls the 6,847-ha grassroots Startrek project near Gander, as well as three district scale land packages in North Central Newfoundland, known as Robert's Arm, Hodge's Hill, and Leamington, (collectively "Western Exploits") representing over 144,000 hectares (1,440 square kilometers) of prospective exploration

Alex Klenman, Chief Executive Officer

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release .

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Yorbeau Resources Inc. (TSX: YRB) (" Yorbeau " or the " Company ") is pleased to announce the progress of the exploration program initiated in late August 2022 on its Scott property near Chibougamau, Quebec 100% owned by the Company.

As of October 5, 2022 three holes have been drilled on the property for a total of 2,615 meters. During this program, which is still ongoing, the company discovered a well mineralized 6.6 meters zone of sulphide rich in chalcopyrite (copper) and sphalerite (zinc) centered at a vertical depth of about 925 meters. The sulfide zone has so far been intersected by two drill holes, about 60 meters apart and a third is being executed. This zone of sulfide coincides with a modeled electromagnetic conductor 150 by 150 meters, 300 meters west of known Scott Lake deposit. The average thickness of this zone is not known at this moment. Indeed, the two holes that intersected the conductor only scratched the surface of the eastern edge (EST) of the electromagnetic conductor, according to our interpretation and the modeling made by Inter-Géophysique from Rosemère in Quebec. The current drilling is now targeting the center of the conductor in order to determine the potential size of the lens.

Mr. Laurent Hallé, P.Geo., Consulting geologist and qualified person for the purposes of National Instrument 43-101 with respect to the technical information being reported on has read and approved this press release.

The 100% owned Rouyn property contains four known gold deposits in the six-kilometre-long Augmitto-Astoria corridor located in the western part of the property. The Company signed a definitive agreement in December 2018 that gives IAMGOLD the option to acquire a 100% interest in the Rouyn property, and a major drilling program is underway on the property. Two of the four deposits, Astoria and Augmitto, have substantial underground infrastructure and have been the subject of technical reports that include resource estimates and have been filed in accordance with NI 43-101.

Additional information about the Company is available on its website, http://www.yorbeauresources.com .

Forward-looking statements: Except for the statement of historical fact, all statements in this news release, including without limitation, regarding the potential discovery of new lens, formal drilling results, future plans and objectives are forward-looking statements which involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. Yorbeau disclaims any obligation to update such forward-looking information unless required by applicable securities laws.

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