NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

TORONTO, April 27, 2018 (GLOBE NEWSWIRE) — Steppe Gold Ltd. (“Steppe Gold” or the “Company”) is pleased to announce that further to the non-brokered private placement (the “Offering”) of special warrants of the Company (the “Special Warrants”) completed on February 1, 2018, the Special Warrant holders approved by extraordinary resolution the extension of the Deadline Date (as defined below) from April 27, 2018 to May 21, 2018 in accordance with the terms of the Special Warrant Indenture dated February 1, 2018  between the Company and TSX Trust Company (the “Special Warrant Agent”). To give effect to the amendment (the “Amendment”), the Company and the Special Warrant Agent entered into a Third Supplemental Special Warrant Indenture dated April 27, 2018.

Prior to the Amendment, the Special Warrant Indenture provided that if the Company did not obtain on or prior to April 27, 2018 (the “Deadline Date”)  a receipt for a final prospectus (the “Final Prospectus”) issued by the Ontario Securities Commission on behalf of the securities regulatory authorities in the provinces of Canada (except Quebec) qualifying the distribution of the offered securities of the Company issuable on the deemed exercise of the Special Warrants, all outstanding Special Warrants would be cancelled and within three business days following the Deadline Date the Special Warrant Agent would deliver by cheque, the amount of the purchase price per Special Warrant plus the pro rata portion of any interest earned or income generated thereon, less any withholding tax required to be withheld in respect thereof, to holders of Special Warrants.

As a result of the Amendment, the Deadline Date has now been extended to May 21, 2018.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

For further information, please contact:

Matthew Wood
President and Chief Executive Officer
E: [email protected]

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 statements regarding future exploration programs, operation plans, geological interpretations, mineral tenure issues and mineral recovery processes. 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.