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Steppe Announces Results of Annual Meeting of Shareholders

TORONTO, June 28, 2019 (GLOBE NEWSWIRE) -- Steppe Gold Limited (STGO.TO) (the “Company” or “Steppe Gold”) is pleased to report the results of 2019 Annual Meeting of Shareholders held on June 28, 2019 in Ulaanbaatar, Mongolia.

Election of Directors

Detailed results from the election of directors are set out below:

Nominee Votes For % For Votes Withheld % Withheld
Zamba Batjargal 23,586,480 99.98% 5,000 0.02%
Lewis Marks 9,487,890 40.22% 14,103,590 59.78%
Patrick Michaels 23,591,480 100% 0 0%
Bataa Tumur-Ochir 23,586,480 99.98% 5,000 0.02%
Aneel Waraich 18,101,280 76.73% 5,490,200 23.27%
Matthew Wood 18,101,280 76.73% 5,490,200 23.27%
Sheldon Vanderkooy 23,591,480 100% 0 0%

Complete voting results are available on SEDAR at www.sedar.com.

Appointment of Auditors

MNP LLP, Chartered Professional Accountants, were reappointed to serve as the independent auditors of the Company for the ensuing year.  

ABOUT STEPPE GOLD LTD.

Steppe Gold is a precious metals development company with an aggressive growth strategy to build Steppe Gold into the premier precious metals company in Mongolia. The Company owns 100% of the advanced staged Altan Tsaagan Ovoo Gold Project where a heap leach development is currently being completed. The second development phase of the ATO Project is the construction of an approximate 150,000oz per annum CIL operation and this is currently subject to the completion of a feasibility study. The Company is also working on the completion of a new resource for the ATO project which will include the new high grade Mungu Discovery.

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.

 

CAPITALIZATION

TSX Symbol: STGO

Total Basic Shares O/S (M): 41.5

 

BOARD OF DIRECTORS

MATTHEW WOOD
Chairman, President and CEO

BATAA TUMUR-OCHIR
Director and Executive Vice President Mongolia

ANEEL WARAICH
Director and Executive Vice President

PATRICK MICHAELS
Director                                                                          

DR. ZAMBA BATJARGAL
Director

LEWIS MARKS
Director

SHELDON VANDERKOOY
Director

 

CONTACT INFORMATION

THE COMPANY’S HEAD OFFICE:

Shangri-La office, Suite 1201, Olympic street 19A, Sukhbaatar District 1,
Ulaanbaatar 14241, Mongolia
Tel: +976 7732 1914

TORONTO OFFICE:

90 Adelaide Street. W, Suite 400 Toronto, ON M5H 3V9,
Canada
Tel: +1 647 697 0577

TRANSFER AGENT:

Lori Winchester
Senior Relationship Manager, Client Management

Phone: +1 416 607-7898
Cell: +1 416 671-4558
Email: lori.winchester@tmx.com