乌兰巴托，蒙古——（Newsfile Corp. -2025 年 12 月 9 日）——Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9)（&#34; Steppe Gold&#34; 或 &#34; 公司&#34;）很高兴地报告 2025 年第四季度的生产指导上调。
在 2025 年进行重大设备升级后，持续的维护工作以及第三季度的停工恢复，Boroo 金矿能够加快高品位矿石的处理。因此，公司预计第四季度的整体生产将超过 23,000 盎司，高于之前的 15,000 盎司的指导。
随着 2025 年 9 月 30 日的成品处理在 10 月完成，预计本季度的销售将超过 30,000 盎司。因此，公司及其子公司（&#34; 集团&#34;）的全年生产预计将达到 70,000 盎司。
公司还宣布，自 2025 年 12 月 8 日起，Kingston Ross Pasnak LLP（&#34; 前审计师&#34;）已辞去公司审计师职务，Emmerich, Córdova y Asociados S. Civil de R.L.，KPMG International 的成员公司，已被任命为继任审计师（&#34; 继任审计师&#34;）。更换审计师是为了与集团及相关实体的当前审计关系保持一致，确保集团内部的一致性和透明度。
在与&#34;相关期间&#34;（该术语在 NI 51-102 中定义）相关的审计中，没有修改意见或可报告事件（该术语在国家工具 51-102 - 持续披露义务（&#34; NI 51-102&#34;）中定义）。
更换审计师及推荐任命继任审计师的提案已获得公司审计委员会和董事会（&#34; 董事会&#34;）的批准。
根据 NI 51-102，审计师更换通知以及前审计师和继任审计师的所需函件已由董事会审查并在 SEDAR+ 上提交。
Steppe Gold 是蒙古首屈一指的贵金属公司。
关于前瞻性声明的警示说明
本新闻稿包含某些前瞻性声明或披露，涉及公司或集团的预期，这些声明基于管理层的期望以及公司当前可获得的信息和假设，这可能构成适用证券法下的前瞻性声明或信息（&#34;前瞻性声明&#34;）。所有这些声明和披露，除了历史事实外，涉及公司预期或预计可能发生的活动、事件、结果或发展（全部或部分）应视为前瞻性声明。在某些情况下，前瞻性声明可以通过使用&#34;将&#34;、&#34;预计&#34;、&#34;预期&#34;及类似表达来识别。特别是，但不限制于前述内容，本新闻稿包含与未来计划、预测、目标、估计和相关时间的讨论有关的前瞻性声明，包括但不限于：集团的未来展望和预期事件；未来的勘探和生产；勘探活动的预期结果；未来计划、预测、目标、估计和相关时间的讨论；以及集团预期在未来发生的事件或发展。
本新闻稿中包含的前瞻性声明反映了公司若干重要因素和期望及假设，包括但不限于：Steppe Gold 的管理团队和董事会；对公司业务、资产和财产的重大不利影响；商业计划和战略的变化；诉讼风险；市场和资本融资条件；任何资本融资交易固有的风险；全球商品市场的变化；货币波动；与矿业相关的材料成本和供应；政府变化及影响矿业的法规变化；实际与估计生产和测试结果、矿藏储量和资源及冶金回收之间的差异；以及 Steppe Gold 的公开披露文件中不时详细列出的其他风险因素，包括但不限于在 SEDAR+ 上可获得的截至 2024 年 12 月 31 日的年度信息表中识别的风险。
前瞻性声明基于在作出这些声明时可获得的信息和/或管理层在该时刻对未来事件的善意信念，并且受到风险和不确定性的影响，这可能导致实际表现或结果与这些前瞻性声明中表达或暗示的内容有重大差异。前瞻性声明仅在作出这些声明的日期有效。除非适用法律要求，Steppe Gold 不承担更新或公开宣布对任何前瞻性声明的任何变更的结果，以反映实际结果、未来事件或发展、假设的变化或影响前瞻性声明的其他因素的变化。如果 Steppe Gold 更新任何一个或多个前瞻性声明，不应推断公司将对这些或其他前瞻性声明进行额外更新。本新闻稿中包含的所有前瞻性声明均完全受到本警示声明的明确限定。
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Steppe Gold Ltd. 报告升级了 2025 年第四季度的生产指引，预计产量超过 23,000 盎司，较之前的 15,000 盎司有所增加，预计销售超过 30,000 盎司。全年生产预计将达到 70,000 盎司。公司还宣布将审计师从 Kingston Ross Pasnak LLP 更换为 Emmerich, Córdova y Asociados S. Civil de R.L.，以与集团的审计关系保持一致。该变更已获得审计委员会和董事会的批准

Ulaanbaatar, Mongolia--(Newsfile Corp. - December 9, 2025) - Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9)(&#34; Steppe Gold&#34; or the &#34; Company&#34;) is pleased to report upgraded production guidance for the fourth quarter of 2025.
<div class="lb-trans">乌兰巴托，蒙古——（Newsfile Corp. -2025 年 12 月 9 日）——Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9)（&#34; Steppe Gold&#34; 或 &#34; 公司&#34;）很高兴地报告 2025 年第四季度的生产指导上调。
</div>Following the major fleet upgrades in 2025, ongoing maintenance work and recovery of downtime experienced in the third quarter, the Boroo Gold mine was able to accelerate processing of higher grade ores. Accordingly, the Company expects overall fourth quarter production to exceed 23,000 oz, up from prior guidance of 15,000 oz.
<div class="lb-trans">在 2025 年进行重大设备升级后，持续的维护工作以及第三季度的停工恢复，Boroo 金矿能够加快高品位矿石的处理。因此，公司预计第四季度的整体生产将超过 23,000 盎司，高于之前的 15,000 盎司的指导。
</div>With processing of finished goods from September 30, 2025 completed in October, projected sales for the quarter is expected to be over 30,000 oz. As a result, full year production for the Company and its subsidiaries (the &#34; Group&#34;) is expected to reach 70,000 oz.
<div class="lb-trans">随着 2025 年 9 月 30 日的成品处理在 10 月完成，预计本季度的销售将超过 30,000 盎司。因此，公司及其子公司（&#34; 集团&#34;）的全年生产预计将达到 70,000 盎司。
</div>The Company is also announcing that effective December 8, 2025, Kingston Ross Pasnak LLP (the &#34; Former Auditor&#34;) has resigned as the auditor of the Company and Emmerich, Córdova y Asociados S. Civil de R.L., member firm of KPMG International, has been appointed as the successor auditor (the &#34; Successor Auditor&#34;). The change in auditor was made to align with the current audit relationship of the Group and related entities, ensuring consistency and transparency across the Group.
<div class="lb-trans">公司还宣布，自 2025 年 12 月 8 日起，Kingston Ross Pasnak LLP（&#34; 前审计师&#34;）已辞去公司审计师职务，Emmerich, Córdova y Asociados S. Civil de R.L.，KPMG International 的成员公司，已被任命为继任审计师（&#34; 继任审计师&#34;）。更换审计师是为了与集团及相关实体的当前审计关系保持一致，确保集团内部的一致性和透明度。
</div>There were no modified opinions, or reportable events (as such term is defined in National Instrument 51-102 - Continuous Disclosure Obligations(&#34; NI 51-102&#34;)) in connection with the audits for &#34;relevant period&#34; (as such term is defined in NI 51-102).
<div class="lb-trans">在与&#34;相关期间&#34;（该术语在 NI 51-102 中定义）相关的审计中，没有修改意见或可报告事件（该术语在国家工具 51-102 - 持续披露义务（&#34; NI 51-102&#34;）中定义）。
</div>The change of the auditor and the recommendation to appoint the Successor Auditor was approved by the Audit Committee and the board of directors of the Company (the &#34; Board&#34;).
<div class="lb-trans">更换审计师及推荐任命继任审计师的提案已获得公司审计委员会和董事会（&#34; 董事会&#34;）的批准。
</div>In accordance with NI 51-102, the notice of change of auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been reviewed by the Board and filed on SEDAR+.
<div class="lb-trans">根据 NI 51-102，审计师更换通知以及前审计师和继任审计师的所需函件已由董事会审查并在 SEDAR+ 上提交。
</div>Steppe Gold is Mongolia's premier precious metals company.
<div class="lb-trans">Steppe Gold 是蒙古首屈一指的贵金属公司。
</div>Cautionary Note Regarding Forward-Looking Statements
<div class="lb-trans">关于前瞻性声明的警示说明
</div>This news release contains certain forward-looking statements or disclosures relating to the Company or the Group that are based on the expectations of its management as well as assumptions made by and information currently available to the Company which may constitute forward-looking statements or information (&#34;forward-looking statements&#34;) under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results, or developments that the Company anticipates or expects may, or will occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words &#34;will&#34;, &#34;projected&#34;, &#34;expected&#34; and similar expressions. In particular, but without limiting the foregoing, this news release contains forward-looking statements pertaining to the following discussion of future plans, projections, objectives, estimates and forecasts and the timing related thereto, including, but not limited to: the Group's future outlook and anticipated events; future exploration and production; the expected results of exploration activities; discussion of future plans, projections, objectives, estimates and forecasts and the timing related thereto; and events or developments that the Group expects to take place in the future.
<div class="lb-trans">本新闻稿包含某些前瞻性声明或披露，涉及公司或集团的预期，这些声明基于管理层的期望以及公司当前可获得的信息和假设，这可能构成适用证券法下的前瞻性声明或信息（&#34;前瞻性声明&#34;）。所有这些声明和披露，除了历史事实外，涉及公司预期或预计可能发生的活动、事件、结果或发展（全部或部分）应视为前瞻性声明。在某些情况下，前瞻性声明可以通过使用&#34;将&#34;、&#34;预计&#34;、&#34;预期&#34;及类似表达来识别。特别是，但不限制于前述内容，本新闻稿包含与未来计划、预测、目标、估计和相关时间的讨论有关的前瞻性声明，包括但不限于：集团的未来展望和预期事件；未来的勘探和生产；勘探活动的预期结果；未来计划、预测、目标、估计和相关时间的讨论；以及集团预期在未来发生的事件或发展。
</div>The forward-looking statements contained in this news release reflect several material factors and expectations and assumptions of the Company including, without limitation: management team and board of directors of Steppe Gold; material adverse effects on the business, properties and assets of the Company; changes in business plans and strategies; risk of litigation; market and capital finance conditions; risks inherent to any capital financing transactions; changes in world commodity markets; currency fluctuations; costs and supply of materials relevant to the mining industry; change in government and changes to regulations affecting the mining industry; discrepancies between actual and estimated production and test results, mineral reserves and resources and metallurgical recoveries; and such other risk factors detailed from time to time in Steppe Gold's public disclosure documents, including, without limitation, those risks identified in Steppe Gold's annual information form for the year ended December 31, 2024, which is available on SEDAR+ at www.sedarplus.ca.
<div class="lb-trans">本新闻稿中包含的前瞻性声明反映了公司若干重要因素和期望及假设，包括但不限于：Steppe Gold 的管理团队和董事会；对公司业务、资产和财产的重大不利影响；商业计划和战略的变化；诉讼风险；市场和资本融资条件；任何资本融资交易固有的风险；全球商品市场的变化；货币波动；与矿业相关的材料成本和供应；政府变化及影响矿业的法规变化；实际与估计生产和测试结果、矿藏储量和资源及冶金回收之间的差异；以及 Steppe Gold 的公开披露文件中不时详细列出的其他风险因素，包括但不限于在 SEDAR+ 上可获得的截至 2024 年 12 月 31 日的年度信息表中识别的风险。
</div>Forward-looking statements are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by such forward-looking statements. Forward-looking statements speak only as of the date those statements are made. Except as required by applicable law, Steppe Gold assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If Steppe Gold updates any one or more forward-looking statements, no inference should be drawn that the company will make additional updates with respect to those or other forward-looking statements. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
<div class="lb-trans">前瞻性声明基于在作出这些声明时可获得的信息和/或管理层在该时刻对未来事件的善意信念，并且受到风险和不确定性的影响，这可能导致实际表现或结果与这些前瞻性声明中表达或暗示的内容有重大差异。前瞻性声明仅在作出这些声明的日期有效。除非适用法律要求，Steppe Gold 不承担更新或公开宣布对任何前瞻性声明的任何变更的结果，以反映实际结果、未来事件或发展、假设的变化或影响前瞻性声明的其他因素的变化。如果 Steppe Gold 更新任何一个或多个前瞻性声明，不应推断公司将对这些或其他前瞻性声明进行额外更新。本新闻稿中包含的所有前瞻性声明均完全受到本警示声明的明确限定。
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Steppe Gold 提供第四季度生产更新及更换审计师的消息 | STPGF 股票新闻