Aurora Energy Reports Q2 2024 Earnings and Revenue Growth

Steppe Gold Announces 2024 Annual Financial Results

Ulaanbaatar, Mongolia, March 31, 2025 – Steppe Gold Corporation (TSX: STLH) (OTCQB: STLHF) is pleased to announce its annual financial results for the year ended December 31, 2024.

For the year ended December 31, 2024, the Company reported a net loss of $1.4 million, compared to a net loss of $2.4 million for the year ended December 31, 2023. The Company's net loss for the year ended December 31, 2024, includes non-cash expenses of $0.8 million related to the issuance of stock options and the grant of restricted share units.

The Company's total comprehensive loss for the year ended December 31, 2024, was $1.4 million, compared to a total comprehensive loss of $2.4 million for the year ended December 31, 2023.

The Company's total assets as at December 31, 2024, were $15.3 million, compared to $12.4 million as at December 31, 2023. The increase in total assets is primarily due to the Company's acquisition of the Altan Tsaagan Project in Mongolia during the year.

The Company's total liabilities as at December 31, 2024, were $2.5 million, compared to $1.8 million as at December 31, 2023. The increase in total liabilities is primarily due to the Company's acquisition of the Altan Tsaagan Project in Mongolia during the year.

The Company's cash and cash equivalents as at December 31, 2024, were $1.2 million, compared to $1.1 million as at December 31, 2023.

"We are pleased with our progress in 2024, and we believe that our acquisition of the Altan Tsaagan Project in Mongolia will provide significant opportunities for growth and exploration in the future," said Alexander Shur, President and CEO of Steppe Gold. "We are excited to continue exploring and developing our properties in Mongolia and look forward to updating our shareholders on our progress in the coming months."

The Company's audited annual financial statements for the year ended December 31, 2024, have been filed with the Canadian securities regulatory authorities and are available on the Company's website and on SEDAR at www.sedar.com. The Company's management's discussion and analysis ("MD&A") for the year ended December 31, 2024, is also available on the Company's website and on SEDAR at www.sedar.com.