• Steppe Gold Ltd. (“STGO”, “company”) is a precious metals company with a portfolio of gold projects in Mongolia. STGO’s flagship mine is Altan Tsagaan Ovoo (“ATO”), which is an open-pit heap leach operation. • Imminent Production: The company is approaching the commercial production stage, with expected production of 60,000 gold-equivalent oz in 2020. • Planned Capacity Expansion: STGO is planning to undergo a feasibility study to determine the economic viability of upgrading the ATO project to a Carbon-In- Leach operation with expanded capacity of 150,000 gold-equivalent oz per annum.