Stonegate Capital Partners Updates Coverage On Steppe Gold Ltd. |

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Overview Steppe Gold (TSX:STGO) is a precious metals development company and gold producer in Mongolia. The company owns the Altan Tsaagan Ovoo (ATO) and the Uudam Khundii (UK) gold projects in Mongolia. Steppe Gold has recently commenced gold production at its flagship ATO project. The company has mined, crushed and stacked approximately 715,000 tonnes of ore with an average grade of approximately 2 g/t gold to date. As of June 2020, Steppe Gold has produced and sold a total of 15,389 ounces of gold and 4,978 ounces of silver generating US$25.3 million. The company is on pace to meet its production goal of 60,000 ounces of gold in 2020. Now that the company has commenced gold production, Steppe Gold intends to continue its feasibility study into the development of the much larger fresh rock resource underlying the current mining operation. The proposed development of a cyanide in leach operation for processing fresh rock is expected to have a life of mine of approximately 12 to 15 years. Existing defined fresh rock resources are expected to be supplemented by the new discovery of high-grade gold and silver mineralization on the Mungu trend. Steppe Gold’s exploration is showing that the high-grade Mungu discovery is semi-continuous to the structurally-controlled mineralization drilled at the ATO 4 deposit and that significant resource expansion is possible. The UK project is the first-of-its-kind joint venture (80/20) between Steppe Gold and the Bayankhongor Provincial Government. The company has completed an initial exploration program on this project consisting of IP and magnetic surveys, as well as rock chip and soil geochemical programs. The program resulted in four discoveries that the company plans to further explore with an extensive program of trenching and drilling in the near-term. Steppe Gold is continuing to asses a number of additional opportunities to acquire exploration licenses and mining projects across Mongolia. Steppe Gold’s management team has a track record of success in Mongolia. Keeping projects on track and under budget is Steppe Gold’s General Manager of Processing Grant Smith. Smith has experience in constructing and operating heap leach operations and most recently worked on the Tujuh Bukit gold heap leach project in East Java, Indonesia. Company Highlights Steppe Gold is a gold producer in Mongolia.Initial capital cost of approximately US$20 million, average cash costs less than US$500 per ounce.Approximately 875,225 tonnes of ore with an average grade of 2 g/t gold has been mined to date at the ATO projectOn pace to hit 2020 production goal of 60,000 ounces of goldUS$28 million gold and silver streaming agreement with Triple Flag Mining Finance Bermuda Ltd. in place.Updated resource estimate and feasibility study underway for the larger fresh rock project underlying the current mining project at open cuttable depths. This larger Phase 2 project would involve the construction of a grinding and CIL circuit and would have an expected life of mine of 12 to 15 years and an annual production profile that could reach approximately 150,000 ounces on a gold equivalent basis.Joint venture partnership in place for the UK project with the Mongolian government.Management has a proven track record of success in Mongolia. Key Projects Mining in Mongolia Mongolia is known as one of the last frontiers for large scale mining projects, offering investors and mining companies alike an interesting opportunity. With the success of Oyu Tolgoi, a tier one producer and one of the largest copper mines in the world, Mongolia has demonstrated the geologic potential for mineral wealth. Mongolia had a GDP of US$11.43 billion in 2017 and has an annual growth rate of approximately six percent. The growth of the economy is supported by commodity exports, such as copper and coal, improved business sentiment and the implementation of a government-led economic adjustment program. The World Bank believes that Mongolia’s growth outlook is positive and is supported by the mining and manufacturing sectors. Gold exploration accounts for 45 percent of the mining sector and 2.6 percent of the country’s GDP, leading to the implementation of policies and programs to help promote gold mining. In March 2017, the Mongolian government signed a Foreign Investment Promotion and Protection Agreement (FIPA) with Canada. The agreement provides Canadian investors operating in Mongolia with a legal framework that is expected to help bring greater predictability and certainty to their investments. Canada is a significant investor in Mongolia and has invested approximately $6.4 billion in the country.Mongolian AssetsSteppe Gold’s ATO Gold-Silver Mine The 5,493-hectare ATO gold-silver project is located in the Dornod province of eastern Mongolia. Steppe Gold’s mining license for the project is fully-permitted for 30 years. Steppe Gold commenced production at the ATO project in December 2019. As of July 2020, Steppe Gold has produced and sold a total of 15,389 ounces of gold and 4,978 ounces of silver which generated a net cash flow of US$25.3 million. The company has mined, crushed and stacked approximately 715,000 tonnes of ore where leaching continues. Steppe Gold remains on pace to produce 60,000 ounces of gold in 2020 at cash costs of circa $500 per ounce from the ATO Mine. The company plans to complete the feasibility study for its Stage 2 expansion project at the ATO mine moving forward. The expansion targets an increase in gold production to 150,000 tonnes per annum from underlying fresh rock ores.2017 technical report A 2017 technical report outlined a project development plan for an open-pit heap leach operation at ATO. The project could produce approximately 147,000 ounces of gold and 673,000 ounces of silver from oxide ores over its 4.5-year mine life. Economics are highlighted by an initial capital cost of approximately US$20 million and average cash costs less than US$500 per ounce.2017 resource estimate In 2017, Steppe Gold released a resource estimate for ATO. The report outlined a proven and probable mineral reserve of 5.23 million tonnes grading 1.25 g/t gold and 10 g/t silver. It also described a measured and indicated resource of 12.23 million tonnes grading 1.49 g/t gold, 9.99 g/t silver, 0.75 percent lead and 1.34 percent zinc, as well as an inferred resource of 1.05 million tonnes grading 1.03 g/t gold, 25.18 g/t silver, 0.52 percent lead and 1.11 percent zinc. Exploration Centerra Gold (TSX:CG), the prior operator and owner of the ATO project, spent over US$25 million on exploration, including the completion of 67,000 meters of drilling and 28,421 meters of trenching. Since acquiring the property, Steppe Gold has completed an additional 20,000 meters of drilling. ATO4 & Mungu Discovery The Mungu discovery is located northeast of the current resource from the ATO 4 deposit. The discovery is located on a 20-kilometer long structurally controlled, north-trending, mid-sulfidation epithermal gold-silver system. Steppe Gold believes that the ATO 4 deposit may be semi-continuous to the mineralization at the Mungu discovery. The ATO 4 Deposit currently remains open along strike to the north and at depth. Moving Forward Now that the company is in production, Steppe Gold plans to turn its focus towards exploration at the ATO deposits and Mungu discovery. The company is also working towards releasing an updated feasibility study for the fresh rock project that is expected to include the Mungu discovery. Steppe Gold is also looking to complete the following activities at ATO:Receive cyanide permit, begin leaching and pour first gold.Complete maiden mineral resource on Mungu deposit.Restart exploration program at ATO and Mungu deposit.The UK Gold Project The 14,397-hectare Uudam Khundii property is comprised of one exploration license and is located 800 kilometers southwest of Ulaanbaatar, Mongolia. The property is an 80/20 joint venture with the Provincial Government of Bayankhongor. The property is located between Erdene Resource Development Corporation’s (TSX:ERD) Bayan Khundii gold discovery and Altan Nar epithermal gold deposits. Steppe Gold has completed an initial exploration program on the property that included geological mapping, geochemical sampling and geophysical surveys. The company expects to commence its trenching and drill programs in the near term. Steppe Gold is also looking into expansion opportunities to further consolidate its footprint in the area. To date the company has completed:1,940 line kilometer ground magnetic survey12 line kilometer IP survey346 rock chip samples8,427 soil geochemical samples Steppe Gold plans to commence a trenching and drilling program at the UK project by the end of 2019.Management Team Matthew Wood — Chairman Matthew Wood is a mineral resource explorer and developer with over 25 years of global industry experience in mining and commodities investments. He has managed investment deals in diamonds, coal, energy, ferrous metals, base and precious metals, among other commodities. His unique skills in technical and economic evaluation of resource opportunities have resulted in a record of nurturing resource deals from early-stage, to market listings and exit strategies for his investors. He was formerly the founder and Executive Chairman of the Mongolian coal company, Hunnu Coal Limited. Hunnu Coal was IPO of the year for all sectors on the ASX in 2010, and its sale for approximately A$500 million in 2011 to Banpu PCL was recognized as the Mines and Money 2012 Deal of the Year. Wood has founded and been involved in many other resource companies and investments over the years. He has extensive experience and many key relationships in Mongolia and was recently awarded the Order of the Polar Star, the highest state honor that can be awarded to a non-citizen of Mongolia. He has an Honours Degree in Geology from the University of New South Wales and a Graduate Certificate in Mineral Economics from the Western Australian School of Mines.Bataa Tumur-Ochir — President and CEO Bataa Tumur-Ochir is responsible for new business acquisitions, development, government and community relations and the daily operations in Mongolia. He has strong relationships with all levels of government in Mongolia and was recently appointed independent advisor to the Ministry of Mining and Heavy Industry responsible for foreign investment and promotion. He is currently a director at GCD Mongolia and CEO and executive director of ASX-listed Wolf Petroleum. Under his guidance, Wolf Petroleum was awarded the “Operator of the Year Award” from the Petroleum Authority of Mongolia, and today, Wolf Petroleum is recognized as the fastest growing petroleum exploration company with the largest petroleum exploration acreage in Mongolia. He holds a bachelor’s degree in business administration and graduate certificates in international business and marketing from Australia and Singapore.Aneel Waraich — Director and Executive VP Aneel Waraich is the founder of ATMA Capital Markets and ATMACORP LTD. He is a financial service professional with progressive experience in asset management and corporate finance businesses. Waraich focuses primarily on advising public and private companies in the natural resource sector. In previous roles at Goodman and Company Investment Counsel and Dundee Capital Markets, he worked as an analyst valuing private companies. Most recently he worked as an investment banker focusing on deal origination, going-public transactions and financings for both public and private companies in the resource and technology sectors. He completed his MBA from the Goodman Institute of Investment Management at the John Molson School of Business.Jeremy South — Senior VP and CFO Jeremy South has been a director of Steppe Gold since March 2017. He has over 33 years of experience in M&A, capital markets and private equity in Europe, North America and Australia, including senior positions in investment banking at Deutsche Bank, NatWest Markets and Deloitte. For 10 years, he was a Global Leader and Mining M&A Advisor at Deloitte. Based in Beijing for four years, he advised leading Asian trading houses and financial investors on mining M&A, financing and strategy, and he has worked with some of Asia’s largest companies. He acted as Chairman of Aldridge Minerals Inc. up until it’s recent sale to Trafigura Ventures. South is a Chartered Accountant and holds a Bachelor of Economics degree from Monash University (Australia). He holds the ICD.D designation as a graduate of the Institute of Corporate Directors.Greg Wood — VP Operations Gregory Wood is an Australian citizen and was appointed as Vice President Operations of Steppe Gold LLC in 2016. He is responsible for all mining-related operations in Mongolia. Prior to joining Steppe, he held positions as Director and Non-Executive Chairman of Carajas Copper Company, Operations Manager of Harvest Minerals and as CEO of Black Star Petroleum. He has extensive experience in the oil and gas industry through his past family oil business’s and has completed the Petroleum Engineering for non-engineers programmer in Houston, Texas. Wood was a systems accountant with over 12 years extensive experience in financial reporting, financial analysis, developing key performance indicators and modeling of financial reports over a number of industries including transport, media and infrastructure. He held management positions at Asciano and Patrick Stevedores.Enkhtuvshin Khishigsuren — VP Exploration Enkhtuvshin Khishigsuren has over 30 years of Mongolian mineral exploration experience. He spent the first 10 to 12 years of his career at Central Geological Expedition doing regional geological mapping in various areas of Mongolia, followed by seven years as senior exploration manager on the exploration of precious metal in Mongolia for Harrods Minerals. Since 2005, he has been running his own company, Erdenyn Erel, which provides exploration and consulting services to western exploration and mining companies. He is responsible for identifying targets and properties based on his knowledge and experience. His experience has resulted in the discovery of several prospective gold and copper deposits in Mongolia; such as the multimillion-ounce gold deposit Olon Ovoot, the Zuun mod molybdenum porphyry deposit and the Shand copper porphyry deposit. He holds a bachelor degree in geological exploration from Azerbaijan State University and a Master’s degree in geological science from Shimane University, Japan.Grant Smith — General Manager of Processing Grant Smith has over 15 years of heap leach experience beginning with Which Creek Copper in the Pilbara region in Western Australia since 2003. Following that, Smith spent time in Laos, Egypt and Mauritania as well as held consultative roles in Mongolia, Kazakhstan and Armenia. More recently, his extensive experience led him to Indonesia where he was responsible for the construction and operation of the heap leach at Tujuh Bukit gold heap leach in East Java, Indonesia.Patrick Michaels — Director Patrick Michaels is the Chairman of Zuri-Invest AG and the Chairman of Asty Capital AG in Zurich, Switzerland. He has been involved in numerous financings of gold mines in North America, among others. He is a well-respected financial adviser and fund manager throughout Europe. Michaels has extensive experience in the fields of mining finance, fund management and asset allocation. He has a background in law and economics and did his training in the areas of private banking and investment research at UBS in Zurich. Additionally, he attended post-graduate courses at the Colorado School of Mines in Golden, Colorado.Dr. Zamba Batjargal — Director Dr. Zamba Batjargal has over 35 years of experience working for the government in Mongolia, dealing with issues of environmental protection and climate change. He was the Minister of the Environment of Mongolia from 1990 to 1996 and Director General of the National Agency for Meteorology, Hydrology and Environmental Monitoring from 1996 to 2001. Dr. Batjargal has experience in working outside of Mongolia due to his engagement in international bi-and multilateral cooperation activities. He was Ambassador of Mongolia to Japan from 2001 to 2005. Between 2005 and 2011, he worked in New York as a Representative of the World Meteorological Organization (WMO) to the UN. Since 2014, he has served as an independent consultant on climate change and the development of green policy for public institutions and non-profit organizations. He was also an advisor at the Office of the President of the United Nations Environmental Assembly (UNEA) in Ulaanbaatar (2014 to 2016). He received his Ph.D. in physics and mathematics in 1978 from the Hydrometeorological State University, St.Petersburg, Russia.Batukhuu Budnyam — Director Batukhuu Budnyam is a successful entrepreneur and financial expert who has extensive experience in the banking and finance sectors in Mongolia. Until recently, Budnyam served as Advisor to Chinggis Khaan Bank. Prior to joining Chinggis Khaan Bank, he was Managing Director of Organic Solutions Mongolia LLC and previous to that, he was Managing Director of MFS Capital LLC. Budnyam is a Mongolian native and speaks fluent English, Russian and German. He has a Bachelor’s Degree in Economics from the National University of Mongolia.Sereenen Jargalan — Director Sereenen Jargalan has been a professor at the Mongolian University of Science and Technology since September 2003 and head of the Department of Mineral Exploration since 2011 where she teaches ore geology and metallogeny to bachelors, masters and doctorate students and supervises Ph.D. student research projects. She has a Ph.D. and Master’s degree in Earth Science from the Institute of Mineralology, Petrology and Economic Geology at Tohoku University in Japan, focused on petrology of igneous rocks and a Bachelor of Mineral Exploration from the Mongolian Polytechnical University. She completed post-doctorate work focused on the REE potential in Mongolia at the Mineral Resources Research Group, Institute for Geo-Resources and Environment and the National Institute of Advanced Industrial Science and Technology, Japan. She has co-authored or contributed to over 50 academic books, articles and other publications. She has been the recipient of numerous academic awards and honors in both Magnolia and Japan.Steve Haggarty – Director Steve Haggarty is the Managing Director of Haggarty Technical Services Corporation and a registered member of the Professional Engineers Ontario. He has over 35 years of industrial experience both on-site and at a corporate level, involving several precious metal and copper producers, with a background in project design, commissioning, start-up, metallurgy, process optimization, project management, reclamation and closure. With a mining career spanning nearly four decades, Haggarty’s industry experience includes 24 years in operations and 14 years in corporate and EPCM-related roles. Most recently, he was Senior Director for the Metallurgy at Barrick Gold Corp. In this role, he was responsible for operational performance improvements, defining GeoMet models, processing strategy and risk mitigation. Haggarty has worked at multiple mine sites around the world, including as General Manager of Barrick Gold’s Veladero heap leach project in Argentina. He is considered a technical leader in heap leach processing, implementation and optimization.

Steppe Gold (TSX:STGO) is a precious metals development company and gold producer in Mongolia. The company owns the Altan Tsaagan Ovoo (ATO) and the Uudam Khundii (UK) gold projects in Mongolia.

Steppe Gold has recently commenced gold production at its flagship ATO project. The company has mined, crushed and stacked approximately 715,000 tonnes of ore with an average grade of approximately 2 g/t gold to date. As of June 2020, Steppe Gold has produced and sold a total of 15,389 ounces of gold and 4,978 ounces of silver generating US$25.3 million. The company is on pace to meet its production goal of 60,000 ounces of gold in 2020.

Now that the company has commenced gold production, Steppe Gold intends to continue its feasibility study into the development of the much larger fresh rock resource underlying the current mining operation. The proposed development of a cyanide in leach operation for processing fresh rock is expected to have a life of mine of approximately 12 to 15 years.

Existing defined fresh rock resources are expected to be supplemented by the new discovery of high-grade gold and silver mineralization on the Mungu trend. Steppe Gold’s exploration is showing that the high-grade Mungu discovery is semi-continuous to the structurally-controlled mineralization drilled at the ATO 4 deposit and that significant resource expansion is possible.

The UK project is the first-of-its-kind joint venture (80/20) between Steppe Gold and the Bayankhongor Provincial Government. The company has completed an initial exploration program on this project consisting of IP and magnetic surveys, as well as rock chip and soil geochemical programs. The program resulted in four discoveries that the company plans to further explore with an extensive program of trenching and drilling in the near-term.

Steppe Gold is continuing to asses a number of additional opportunities to acquire exploration licenses and mining projects across Mongolia.

Steppe Gold’s management team has a track record of success in Mongolia. Keeping projects on track and under budget is Steppe Gold’s General Manager of Processing Grant Smith. Smith has experience in constructing and operating heap leach operations and most recently worked on the Tujuh Bukit gold heap leach project in East Java, Indonesia.

Mongolia is known as one of the last frontiers for large scale mining projects, offering investors and mining companies alike an interesting opportunity. With the success of Oyu Tolgoi, a tier one producer and one of the largest copper mines in the world, Mongolia has demonstrated the geologic potential for mineral wealth. Mongolia had a GDP of US$11.43 billion in 2017 and has an annual growth rate of approximately six percent. The growth of the economy is supported by commodity exports, such as copper and coal, improved business sentiment and the implementation of a government-led economic adjustment program.

The World Bank believes that Mongolia’s growth outlook is positive and is supported by the mining and manufacturing sectors. Gold exploration accounts for 45 percent of the mining sector and 2.6 percent of the country’s GDP, leading to the implementation of policies and programs to help promote gold mining.

In March 2017, the Mongolian government signed a Foreign Investment Promotion and Protection Agreement (FIPA) with Canada. The agreement provides Canadian investors operating in Mongolia with a legal framework that is expected to help bring greater predictability and certainty to their investments. Canada is a significant investor in Mongolia and has invested approximately $6.4 billion in the country.

The 5,493-hectare ATO gold-silver project is located in the Dornod province of eastern Mongolia. Steppe Gold’s mining license for the project is fully-permitted for 30 years.

Steppe Gold commenced production at the ATO project in December 2019. As of July 2020, Steppe Gold has produced and sold a total of 15,389 ounces of gold and 4,978 ounces of silver which generated a net cash flow of US$25.3 million. The company has mined, crushed and stacked approximately 715,000 tonnes of ore where leaching continues.

Steppe Gold remains on pace to produce 60,000 ounces of gold in 2020 at cash costs of circa $500 per ounce from the ATO Mine. The company plans to complete the feasibility study for its Stage 2 expansion project at the ATO mine moving forward. The expansion targets an increase in gold production to 150,000 tonnes per annum from underlying fresh rock ores.

A 2017 technical report outlined a project development plan for an open-pit heap leach operation at ATO. The project could produce approximately 147,000 ounces of gold and 673,000 ounces of silver from oxide ores over its 4.5-year mine life. Economics are highlighted by an initial capital cost of approximately US$20 million and average cash costs less than US$500 per ounce.

In 2017, Steppe Gold released a resource estimate for ATO. The report outlined a proven and probable mineral reserve of 5.23 million tonnes grading 1.25 g/t gold and 10 g/t silver. It also described a measured and indicated resource of 12.23 million tonnes grading 1.49 g/t gold, 9.99 g/t silver, 0.75 percent lead and 1.34 percent zinc, as well as an inferred resource of 1.05 million tonnes grading 1.03 g/t gold, 25.18 g/t silver, 0.52 percent lead and 1.11 percent zinc.

Centerra Gold (TSX:CG), the prior operator and owner of the ATO project, spent over US$25 million on exploration, including the completion of 67,000 meters of drilling and 28,421 meters of trenching. Since acquiring the property, Steppe Gold has completed an additional 20,000 meters of drilling.

The Mungu discovery is located northeast of the current resource from the ATO 4 deposit. The discovery is located on a 20-kilometer long structurally controlled, north-trending, mid-sulfidation epithermal gold-silver system. Steppe Gold believes that the ATO 4 deposit may be semi-continuous to the mineralization at the Mungu discovery. The ATO 4 Deposit currently remains open along strike to the north and at depth.

Now that the company is in production, Steppe Gold plans to turn its focus towards exploration at the ATO deposits and Mungu discovery. The company is also working towards releasing an updated feasibility study for the fresh rock project that is expected to include the Mungu discovery. Steppe Gold is also looking to complete the following activities at ATO:

The 14,397-hectare Uudam Khundii property is comprised of one exploration license and is located 800 kilometers southwest of Ulaanbaatar, Mongolia. The property is an 80/20 joint venture with the Provincial Government of Bayankhongor.

The property is located between Erdene Resource Development Corporation’s (TSX:ERD) Bayan Khundii gold discovery and Altan Nar epithermal gold deposits.

Steppe Gold has completed an initial exploration program on the property that included geological mapping, geochemical sampling and geophysical surveys. The company expects to commence its trenching and drill programs in the near term. Steppe Gold is also looking into expansion opportunities to further consolidate its footprint in the area.

To date the company has completed:

Steppe Gold plans to commence a trenching and drilling program at the UK project by the end of 2019.

Matthew Wood is a mineral resource explorer and developer with over 25 years of global industry experience in mining and commodities investments. He has managed investment deals in diamonds, coal, energy, ferrous metals, base and precious metals, among other commodities. His unique skills in technical and economic evaluation of resource opportunities have resulted in a record of nurturing resource deals from early-stage, to market listings and exit strategies for his investors.

He was formerly the founder and Executive Chairman of the Mongolian coal company, Hunnu Coal Limited. Hunnu Coal was IPO of the year for all sectors on the ASX in 2010, and its sale for approximately A$500 million in 2011 to Banpu PCL was recognized as the Mines and Money 2012 Deal of the Year. Wood has founded and been involved in many other resource companies and investments over the years. He has extensive experience and many key relationships in Mongolia and was recently awarded the Order of the Polar Star, the highest state honor that can be awarded to a non-citizen of Mongolia. He has an Honours Degree in Geology from the University of New South Wales and a Graduate Certificate in Mineral Economics from the Western Australian School of Mines.

Bataa Tumur-Ochir is responsible for new business acquisitions, development, government and community relations and the daily operations in Mongolia. He has strong relationships with all levels of government in Mongolia and was recently appointed independent advisor to the Ministry of Mining and Heavy Industry responsible for foreign investment and promotion.

He is currently a director at GCD Mongolia and CEO and executive director of ASX-listed Wolf Petroleum. Under his guidance, Wolf Petroleum was awarded the “Operator of the Year Award” from the Petroleum Authority of Mongolia, and today, Wolf Petroleum is recognized as the fastest growing petroleum exploration company with the largest petroleum exploration acreage in Mongolia. He holds a bachelor’s degree in business administration and graduate certificates in international business and marketing from Australia and Singapore.

Aneel Waraich is the founder of ATMA Capital Markets and ATMACORP LTD. He is a financial service professional with progressive experience in asset management and corporate finance businesses. Waraich focuses primarily on advising public and private companies in the natural resource sector.

In previous roles at Goodman and Company Investment Counsel and Dundee Capital Markets, he worked as an analyst valuing private companies. Most recently he worked as an investment banker focusing on deal origination, going-public transactions and financings for both public and private companies in the resource and technology sectors. He completed his MBA from the Goodman Institute of Investment Management at the John Molson School of Business.

Jeremy South has been a director of Steppe Gold since March 2017. He has over 33 years of experience in M&A, capital markets and private equity in Europe, North America and Australia, including senior positions in investment banking at Deutsche Bank, NatWest Markets and Deloitte. For 10 years, he was a Global Leader and Mining M&A Advisor at Deloitte.

Based in Beijing for four years, he advised leading Asian trading houses and financial investors on mining M&A, financing and strategy, and he has worked with some of Asia’s largest companies. He acted as Chairman of Aldridge Minerals Inc. up until it’s recent sale to Trafigura Ventures. South is a Chartered Accountant and holds a Bachelor of Economics degree from Monash University (Australia). He holds the ICD.D designation as a graduate of the Institute of Corporate Directors.

Gregory Wood is an Australian citizen and was appointed as Vice President Operations of Steppe Gold LLC in 2016. He is responsible for all mining-related operations in Mongolia. Prior to joining Steppe, he held positions as Director and Non-Executive Chairman of Carajas Copper Company, Operations Manager of Harvest Minerals and as CEO of Black Star Petroleum. He has extensive experience in the oil and gas industry through his past family oil business’s and has completed the Petroleum Engineering for non-engineers programmer in Houston, Texas.

Wood was a systems accountant with over 12 years extensive experience in financial reporting, financial analysis, developing key performance indicators and modeling of financial reports over a number of industries including transport, media and infrastructure. He held management positions at Asciano and Patrick Stevedores.

Enkhtuvshin Khishigsuren has over 30 years of Mongolian mineral exploration experience. He spent the first 10 to 12 years of his career at Central Geological Expedition doing regional geological mapping in various areas of Mongolia, followed by seven years as senior exploration manager on the exploration of precious metal in Mongolia for Harrods Minerals.

Since 2005, he has been running his own company, Erdenyn Erel, which provides exploration and consulting services to western exploration and mining companies. He is responsible for identifying targets and properties based on his knowledge and experience. His experience has resulted in the discovery of several prospective gold and copper deposits in Mongolia; such as the multimillion-ounce gold deposit Olon Ovoot, the Zuun mod molybdenum porphyry deposit and the Shand copper porphyry deposit. He holds a bachelor degree in geological exploration from Azerbaijan State University and a Master’s degree in geological science from Shimane University, Japan.

Grant Smith has over 15 years of heap leach experience beginning with Which Creek Copper in the Pilbara region in Western Australia since 2003. Following that, Smith spent time in Laos, Egypt and Mauritania as well as held consultative roles in Mongolia, Kazakhstan and Armenia. More recently, his extensive experience led him to Indonesia where he was responsible for the construction and operation of the heap leach at Tujuh Bukit gold heap leach in East Java, Indonesia.

Patrick Michaels is the Chairman of Zuri-Invest AG and the Chairman of Asty Capital AG in Zurich, Switzerland. He has been involved in numerous financings of gold mines in North America, among others. He is a well-respected financial adviser and fund manager throughout Europe.

Michaels has extensive experience in the fields of mining finance, fund management and asset allocation. He has a background in law and economics and did his training in the areas of private banking and investment research at UBS in Zurich. Additionally, he attended post-graduate courses at the Colorado School of Mines in Golden, Colorado.

Dr. Zamba Batjargal has over 35 years of experience working for the government in Mongolia, dealing with issues of environmental protection and climate change. He was the Minister of the Environment of Mongolia from 1990 to 1996 and Director General of the National Agency for Meteorology, Hydrology and Environmental Monitoring from 1996 to 2001. Dr. Batjargal has experience in working outside of Mongolia due to his engagement in international bi-and multilateral cooperation activities.

He was Ambassador of Mongolia to Japan from 2001 to 2005. Between 2005 and 2011, he worked in New York as a Representative of the World Meteorological Organization (WMO) to the UN. Since 2014, he has served as an independent consultant on climate change and the development of green policy for public institutions and non-profit organizations. He was also an advisor at the Office of the President of the United Nations Environmental Assembly (UNEA) in Ulaanbaatar (2014 to 2016). He received his Ph.D. in physics and mathematics in 1978 from the Hydrometeorological State University, St.Petersburg, Russia.

Batukhuu Budnyam is a successful entrepreneur and financial expert who has extensive experience in the banking and finance sectors in Mongolia. Until recently, Budnyam served as Advisor to Chinggis Khaan Bank. Prior to joining Chinggis Khaan Bank, he was Managing Director of Organic Solutions Mongolia LLC and previous to that, he was Managing Director of MFS Capital LLC. Budnyam is a Mongolian native and speaks fluent English, Russian and German. He has a Bachelor’s Degree in Economics from the National University of Mongolia.

Sereenen Jargalan has been a professor at the Mongolian University of Science and Technology since September 2003 and head of the Department of Mineral Exploration since 2011 where she teaches ore geology and metallogeny to bachelors, masters and doctorate students and supervises Ph.D. student research projects. She has a Ph.D. and Master’s degree in Earth Science from the Institute of Mineralology, Petrology and Economic Geology at Tohoku University in Japan, focused on petrology of igneous rocks and a Bachelor of Mineral Exploration from the Mongolian Polytechnical University.

She completed post-doctorate work focused on the REE potential in Mongolia at the Mineral Resources Research Group, Institute for Geo-Resources and Environment and the National Institute of Advanced Industrial Science and Technology, Japan. She has co-authored or contributed to over 50 academic books, articles and other publications. She has been the recipient of numerous academic awards and honors in both Magnolia and Japan.

Steve Haggarty is the Managing Director of Haggarty Technical Services Corporation and a registered member of the Professional Engineers Ontario. He has over 35 years of industrial experience both on-site and at a corporate level, involving several precious metal and copper producers, with a background in project design, commissioning, start-up, metallurgy, process optimization, project management, reclamation and closure.

With a mining career spanning nearly four decades, Haggarty’s industry experience includes 24 years in operations and 14 years in corporate and EPCM-related roles. Most recently, he was Senior Director for the Metallurgy at Barrick Gold Corp. In this role, he was responsible for operational performance improvements, defining GeoMet models, processing strategy and risk mitigation. Haggarty has worked at multiple mine sites around the world, including as General Manager of Barrick Gold’s Veladero heap leach project in Argentina. He is considered a technical leader in heap leach processing, implementation and optimization.

Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is extremely pleased to report two major milestones on its Phase 2 Expansion at the ATO Gold Mine.

Steppe Gold's ATO Gold Mine has received relevant approvals from the Ministry of Energy and National Dispatching Center to build and connect a high voltage power line system of 110/35/10 kVand use 10MW from the Dornod Province State Power Plant. This is a major milestone in the Phase 2 Expansion, and a special purpose company Steppe Power LLC has been established to manage the development and connection to the state grid system.

The Company retained a leading global engineering firm to advise on available energy options for the Phase 2 Expansion, including renewable alternatives. Renewable options are generally too expensive at this scale, with traditional energy sources more economic.

With the recent significant rise in fuel prices, connecting to the state grid power system will dramatically reduce projected energy costs by 75%, or from approximately $32M to $8M annually at the Phase 2 Expansion and will reduce expected cash costs by well in excess of $100/oz.

The Company plans to commence the construction of a high voltage power line system in 2023-2024, and the flotation plant should be complete by Q3 2024.

Steppe Gold reports that the Phase 2 Expansion continues to ramp up with the new fixed crusher nearing completion in October.

All equipment for the new crushing unit has arrived via 15 open-top railway wagons and 62 trucks.

Currently, 160 tonnes of equipment have been installed out of a total of 220 tonnes, and installation work is 72% complete.

The new 1,000 tonnes per hour crushing unit consists of 2 jaw crushers, 4 hydraulic cone crushers, 5 vibration screens and 5 vibration feeders, 17 conveyor systems, 3 sets of buffer bins with steel structure, 3 underground buffer bins with steel structure and central control system.

Once operational, the new crushing unit will increase Steppe Gold's current capacity by 4 times, up to 4Mt per annum/ at 50% of its power.

Learn more about our new crushing unit in this video: https://youtu.be/gy4W7ZPW2bU

Fig 1: Fixed Crushing Unit Work in Progress

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Fig 2: Fixed Crushing Unit Work in Progress

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/6562/135360_c614a577a4613b70_002full.jpg

As of August 20, the Company has mined 3.24 million tonnes, crushed and stacked 2.46 million tonnes @ 1.93 g/t ~ 152,510 ounces on the leach pad and 781,500 tonnes of ore at an average grade of 1.17 g/t on the ROM pad. At an estimated 70% recovery, the total inventory on the leach pad, ROM pad and pit floors is approximately 80,000 ounces of recoverable gold.

The Company has received a new batch of reagents via rail and will increase the rate of production in the coming months.

President and CEO of Steppe Gold, Bataa Tumur-Ochir, commented, "We are pleased to report solid progress on the new fixed crusher, which is a critical step in the Phase 2 Expansion. Despite a challenging period with COVID-related lockdowns in China and continued border closures, we have shipped all heavy equipment and installation work is rapidly advancing.

The Company has over 781,500 tonnes of ore on the ROM pad in addition to 735,000 tonnes of blasted material on the pit floors, and the new crushing unit will significantly increase daily crushing rates at the Phase 1 project in the winter months. We are also delighted to announce government approval to connect to the state grid power system and quota to use 10MW, which will significantly reduce operating costs for the Phase 2 Expansion of the ATO Gold Mine. This is a major milestone for us as we accelerate the major capital items for this next phase.

We also continue to work on optimizing the Phase 2 Expansion through exploration drilling and we plan to announce updates to the mine plan in the coming month or so. We are well advanced with design work on the expansion facilities, and new fuel and chemical storage facilities are complete."

Fig. 3: Leach Pad at ATO Gold Mine with Lift Complete

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Fig. 4: ROM Pad at ATO Gold Mine

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Fig 5: Fixed Crushing Unit Work in Progress

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Fig 6: Fixed Crushing Unit Work in Progress

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Fig 7: Fixed Crushing Unit Work in Progress

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Steppe Gold Limited Steppe Gold is Mongolia's premier precious metals company.

For Further information, please contact: Bataa Tumur-Ochir, CEO and President

Shangri-La office, Suite 1201, Olympic Street19A, Sukhbaatar District 1,Ulaanbaatar 14241, Mongolia Tel: +976 7732 1914

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.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135360

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Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is pleased to announce its financial results for the three months ended June 30, 2022.

Second Quarter Highlights (all figures in US$000's unless stated otherwise)

The focus for the balance of 2022 will be on maximizing gold production from the leach pad and continuing to work on operational efficiencies and strengthening supply chain logistics at the ATO Gold Mine.

The Company has built up a significant inventory of precious metals and is working hard to maximize the yield from this inventory. With planned revenues from gold production for the balance of 2022, the Company aims to reduce or refinance its debt obligations in 2022 and progress discussions on project financing for the Phase 2 Expansion that is already underway.

The Company's consolidated financial results for the three months ended June 30, 2022 have been filed on SEDAR. The full version of the condensed interim consolidated financial statements and associated management's discussion & analysis can be viewed on the Company's website at www.steppegold.com or under the Company's profile on SEDAR at www.sedar.com.

Steppe Gold is Mongolia's premier precious metals company.

For Further information, please contact: Bataa Tumur-Ochir, CEO and President

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

EBITDA is defined as earnings before interest, taxes, depreciation and amortization. Adjusted EBITDA is defined as adjusted earnings before interest, taxes, depreciation and amortization. Further details of Non-IFRS Performance Measures noted above can be found in the Company's management's discussion & analysis.

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.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/133868

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Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) ("Steppe Gold" or the "Company") is pleased to report the results of its 2022 Annual General and Special Meeting of Shareholders held on June 30, 2022 in Ulaanbaatar, Mongolia. A total of 35,544,144 common shares were voted at the meeting representing 51.10% of the votes attached to all outstanding shares.

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

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

Kingston Ross Pasnak LLP was appointed to serve as the independent auditors of the Company for the ensuing year.

The Company's Long-Term Incentive Plan was approved and adopted.

Steppe Gold Limited. Steppe Gold (TSX: STGO, OTCQX: STPGF) is Mongolia's premier precious metals company.

For more information, please contact:

Bataa Tumur-Ochir, CEO and President

Shangri-La office, Suite 1201, Olympic Street 19A, Sukhbaatar District 1, Ulaanbaatar 14241, Mongolia Website: www.steppegold.com Email: investors@steppegold.com Tel: +976 7732 1914

Certain statements in this press release constitute "forward-looking statements" which involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. Words such as "expects", "anticipates", "projects", "intends", "plans", "will", "believes", "seeks", "estimates", "should", "may", "could", and variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on management's current expectations and beliefs and actual events or results may differ materially. There are many factors that could cause such actual events or results expressed or implied by such forward-looking statements to differ materially from any future results expressed or implied by such statements. Forward-looking statements are based on current expectations and Steppe Gold assumes no obligation to update such information to reflect later events or developments, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129953

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Steppe Gold Ltd. (TSX: STGO) ("Steppe Gold" or the "Company") announces that, as a result of a review by Staff of the Ontario Securities Commission, the Company is issuing the following news release to clarify the disclosure regarding the certificates and applicable consents of qualified persons related to each of David Morgan, Dan V. Michaelsen and Ochirkhuyag Baatar in connection with the NI 43-101 Technical Report - Feasibility Study for the Altan Tsagaan Ovoo (ATO) Phase 2 Expansion Project, Mongolia with an effective date of October 27, 2021, and issued on November 30, 2021 (the "Technical Report").

As a result, the Company has filed: (i) amended certificates for David Morgan and Dan V. Michaelsen to clarify their responsibility in connection with preparing certain portions of the Technical Report; and (ii) certificate and consent of qualified person for Ochirkhuyag Baatar.

Further, certain media article links have been removed from the Company's corporate website to comply with National Instrument 43-101 - Standards of Disclosure of Mineral Projects.

Steppe Gold is Mongolia's premier precious metals company.

For Further Information, please contact:

Bataa Tumur‐Ochir, CEO and President

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

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/129950

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Steppe Gold Limited (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") is pleased to provide a further operations update.

With one more pour to come on June 30, gold production for the month is expected to be around 3,200 oz, bringing total production for the second quarter to approximately 10,400 oz. The Mongolian government is currently paying a 5% premium for gold and this will ensure an above-market achieved gold price in the quarter and strong operating cash flow for the quarter.

The Company is also pleased to confirm new supplies of key reagents and consumables allowing us to build stockpiles at site. This in turn allows us to be more aggressive on leaching strategy, with more cells under active leach, allowing for acceleration of monthly production rates through the balance of 2022. Steppe Gold expects a significant uptick in the production rate in the third quarter with internal guidance around 15,000 oz for the quarter.

At an estimated 70% recovery, total inventory at May 31 on the leach pad, ROM pad and pit floor was approximately 80,000 ounces of recoverable gold.

Mining and stacking activities were on plan for June with stacking on Cell 5 continuing and mining well above planned rates. Blasting at ATO 2 has commenced.

Steppe Gold has set up an exploration camp at the Uudam Khundii (UK) project located in the highly prospective Bayankhongor gold belt in Western Mongolia with first drilling programmes underway.

President and CEO of Steppe Gold, Bataa Tumur-Ochir commented, "We are very pleased to report a strong quarter of production at the ATO Gold Mine as we restarted full operations. All activities at site are operating well and reagent and consumable stockpiles are building. Together with a strong inventory of ore we are optimistic of accelerating our production rate in the second half of 2022. Exploration drilling at the Uudam Khundii project is underway shortly and we are excited to see the results from this highly prospective deposit."

Steppe Gold is Mongolia's premier precious metals company.

For Further information, please contact:

Bataa Tumur-Ochir, CEO and President

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

Cautionary Note Regarding Forward-Looking Statements:

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release

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ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") announced that it has made an application to the TSX Venture Exchange (the "TSXV") to amend the terms of an aggregate of 19,219,733 outstanding share purchase warrants (the "Warrants"), which were issued in connection with a non-brokered private placement (the "Offering") (see ALX news releases dated October 2, 2020 and October 20, 2020).

The Company is seeking to extend the term of the Warrants for an additional year. Warrants issued in the first tranche of the Offering would be extended to October 2, 2023, and the Warrants issued in the second tranche of the Offering would be extended to October 20, 2023. The exercise price of the Warrants will remain unchanged, at $0.10 per Warrant.

The application to extend the expiry date of the Warrants is subject to acceptance by the TSXV.

ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF".

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include uranium, lithium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 220,000 hectares of prospective lands in Saskatchewan, a stable Canadian jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, and production from base metals mines, both current and historical.

ALX's uranium holdings in northern Saskatchewan include 100% interests in the Gibbons Creek Uranium Project,the Sabre Uranium Project and the Javelin and McKenzie Lake Uranium Projects, a 40% interest in the Black Lake Uranium Project (a joint venture with Uranium Energy Corporation and Orano Canada Inc.), and a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) as operator of exploration since 2016.

ALX owns 100% interests in four lithium exploration properties staked in September 2022 collectively known as the Hydra Lithium Project, located in the James Bay region of northern Quebec, Canada.

ALX also owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying VeeNickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages), and in the Draco VMS Project in Norway.

For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com.

On Behalf of the Board of Directors of ALX Resources Corp.

Warren Stanyer, CEO and Chairman

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include: the application for an extension to the expiry time for certain common share purchase warrants. It is important to note that the Company's actual business outcomes could differ materially from those in such forward-looking statements. Risks and uncertainties for the Company include that ALX may not be able to fully finance exploration on our exploration projects, including drilling; our initial findings at our exploration projects may prove to be unworthy of further expenditures; commodity prices may not support further exploration expenditures; exploration programs may be delayed or changed due to any delays experienced in consultation and engagement activities with First Nations and Metis communities and the results of such consultations;and economic, competitive, governmental, societal, public health, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop our projects, and even if uranium, lithium, nickel, copper, gold or other metals or minerals are discovered in quantity, ALX's projects may not be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Six Months Ended June 30, 2022, which is available under the Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward-looking statement risk factors.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137497

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GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) ("GoldHaven" or the "Company") announces that it has prioritized a follow-up campaign including soil grid extensions at newly identified target areas as well as prospecting and mapping of extensive newly acquired contiguous land positions in the belt. Given preliminary results from its summer work program at Smoke Mountain, VTEM and LiDAR airborne surveys for the newly staked ground have also been scheduled for completion in October 2022 .

GoldHaven CEO, Justin Canivet commented "Our exploration results at Smoke Mountain this summer have prompted a high priority follow-up field program . The objective of the campaign is to obtain geologically-based vectors to porphyry and epithermal targets on this highly prospective and exciting property . Lab results and airborne survey interpretation from our summer program are expected in the coming weeks and we look forward to further leveraging these data and adding shareholder value."

GoldHaven has re-engaged Dahrouge Geological Consulting Ltd . to complete a comprehensive follow-up exploration program at Smoke Mountain. This program is focused on extending soil sampling grids at priority target areas defined in the recently completed 2022 summer program. Furthermore, the field work will focus on p rospecting and mapping newly staked contiguous land positions . Detailed geological mapping, along with the soil geochemical work will improve the interpretation of the geophysical datasets and constrain target locations.

GoldHaven has engaged Geotech Ltd. to conduct Helicopter-Borne VTEM TM and Magnetic Geophysical Surveys for the purpose of investigating the mineral potential over the extensive contiguous land position at Smoke Mountain. The proposed survey is approximately 721 line-kms over 1 block with a planned start date of late October . The survey will take 5-7 days to complete with the intention of targeting intermediate sulfidation polymetallic vein systems.

GoldHaven will be benefiting from Geotech Ltd's Versatile Time-Domain Electromagnetic ( VTEM TM ) geophysical system, which is excellent at locating discrete conductive anomalies as well as mapping lateral and vertical variations in resistivity .

Full waveform recording will also be employed to achieve very clean early-time measurements to effectively resolve near surface structures . GoldHaven will benefit from Geotech's Concentric Transmitter - Receiver geometry, which ensures positive anomaly location and results in huge time and costs savings as there will be no need for ground follow-up. The technology has successfully been deployed globally for targeting work in epithermal precious metal districts.

GoldHaven management seeks to acquire a Multi-Year Area-Based Exploration Permit for drilling in Q2 2023 . The extensive geological, geochemical and geophysical campaigns from 2022 are yielding excellent preliminary porphyry and epithermal-style targets . GoldHaven is planning to carefully evaluate all of the obtained data during late 2022 and early 2023, with the objective of defining drill targets for testing going forward.

GoldHaven's Smoke Mountain land position was recently doubled from 4,190 hectares to 8,645 hectares based on promising preliminary results from geological, geochemical and geophysical surveys conducted during the 2022 Smoke Mountain summer exploration program. The resulting large, contiguous land position defines a commanding land position in an emerging BC porphyry-epithermal belt . Copper, gold, and silver mineralization is extensive in the region with several promising new discoveries and extensions to mineralization (see below).

GoldHaven's Smoke Mountain property is strategically situated within an extensive 85 kilometre polymetallic belt that is highly prospective for gold-silver-zinc epithermal systems, porphyry copper-gold deposits, as well as gold and silver-rich magmatic-hydrothermal occurrences . The property is road accessible from Houston via a series of gravel forest service roads off Highway 16.

Exploration activity in the area has been renewed in this historic mining region , propelled by the ongoing expansion of advanced exploration projects and mines including:

Note: the mines and advanced exploration and development projects in the Central BC porphyry-epithermal provide geologic context for the Smoke Mountain Property, but this is not necessarily indicative that the Smoke Mountain Property hosts similar grades or tonnages of mineralization.

The historic Central BC porphyry-epithermal belt is re-emerging as an important copper-gold-silver jurisdiction as evidenced by increased staking activity and exploration drilling. The region is quickly becoming known for its long mineralized drill intercepts including Universal Copper's 216m interval grading 0.54% CuEq ( click here for release) and has the potential to host some of the largest copper-polymetallic discoveries in British Columbia .

In recent news, Surge Copper expanded their Ootsa project by 96% to a total of 439Mt grading 0.32% CuEq ( click here for release) increasing their total mineralized inventory in the southern part of this belt to over 1 billion tonnes (measured and indicated).

These results in the immediate vicinity of GoldHaven's Smoke Mountain project showcase the exceptional regional endowment and metallogenic character of the Late Cretaceous arc rocks hosted within this belt. Among several emerging targets on the property, GoldHaven is working on a newly-identified 2.5km long untested and under-explored alteration and mineralization trend currently being examined by our field team at Smoke Mountain .

Note: The adjacent mines and advanced exploration and development projects in the Central BC porphyry-epithermal provide geologic context for the Smoke Mountain Property, but this is not necessarily indicative that the Smoke Mountain Property hosts similar grades or tonnages of mineralization.

Daniel MacNeil , P.Geo, a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has read and approved all technical and scientific information contained in this news release. Mr. MacNeil is Technical Advisor to GoldHaven Resources Corp.

GoldHaven Resources Corp. is a Canadian junior precious metals exploration Company focused on acquiring and exploring highly prospective land packages in both Canada and Chile . GoldHaven maintains a strategic presence in the gold and silver rich Maricunga Gold Belt of Northern Chile which is host to several mining and advanced exploration projects including Salares Norte (Gold Fields), Esperanza (Kingsgate Consolidated), La Coipa ( Kinross ), Cerro Maricunga ( Fenix Gold ), Lobo-Marte ( Kinross ), Volcan (Volcan), Refugio ( Kinross /Bema), Caspiche (Goldcorp/Barrick), and Cerro Casale (Goldcorp/Barrick). The Company has identified a total of 12 high-priority targets at its Alicia and Roma project areas in the Maricunga within a prominent regional NW-SE structural trend along strike from Gold Fields' Salares Norte deposit (5.2 million ounces of Gold 7) . These targets have been designated "High Priority" due to the extent, pervasive alteration, favourable geology, highly anomalous rock geochemical results, and their relative proximity to existing deposits. GoldHaven is also making exploration progress at its Smoke Mountain property ( Canada ) which is strategically located in the Central British Columbia Porphyry-Epithermal Belt in close proximity to Surge Copper's Berg project, as well as its Pat's Pond project in Newfoundland's Central Newfoundland Gold Belt ( Canada ). Pat's Pond is strategically located less than 20km from Marathon Gold's 3.14 Moz 8 Valentine Gold Project and on strike from the Boomerang/Domino VMS deposit. Pat's Pond is highly prospective for gold, copper, silver and zinc and has large scale discovery potential. GoldHaven engages proactively with local and Indigenous rightsholders and seeks to develop relationships and agreements that are mutually beneficial to all stakeholders.

Note: The deposits/mines near GoldHaven's properties provide geologic context, but this is not necessarily indicative that GoldHaven properties host similar grades or tonnages of mineralization.

On Behalf of the Board of Directors

Justin Canivet , CFA Chief Executive Officer

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE- Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

1 Giroux, G.H., 2012. MINERAL RESOURCE UPDATE on The POPLAR DEPOSIT, OMINECA MINING DIVISION BRITISH COLUMBIA. Prepared for Lions Gate Metals Inc. Prepared by Giroux Consultants Ltd. Effective Date: March 30, 2012 https://www.universalcopper.com/UNV_Presentation_Web.pdf?a28db

2 Norton, C., Huang, J., and Lui, D., Updated Technical Report and Mineral Resource Estimate on the Berg Project, British Columbia. A NI 43-101 Technical Report prepared by Tetra Tech Canada Inc. EFFECTIVE DATE: MARCH 9, 2021; RELEASE DATE: MAY 3, 2021. https://surgecopper.com/site/assets/files/5735/updated_technical_report_mineral_resource_estimate_on_the_berg_ project-_bc.pdf

3 Christensen, K., Connaughton, G.R., and Ogryzlo, P., 2011. TECHNICAL REPORT ON THE MAIN ZONE OPTIMIZATION HUCKLEBERRY MINE OMINECA MINING DIVISION BRITISH COLUMBIA, CANADA. Prepared for Huckleberry Mines Ltd. and Imperial Metals Corporation November 22, 2011 The effective date of the exploration data is September 1, 2011, Amended May 11, 2016. https://www.imperialmetals.com/assets/docs/2016- hml-43-101-technical-report-on-the-main-zone-optimization.pdf

4 Burga D., Barry J., Grant D., Hutter J., Puritch E., Sutcliffe, R.H., and Wu, Y., 2019. INITIAL MINERAL RESOURCE ESTIMATE AND TECHNICAL REPORT ON THE NUMBER 3 VEIN, SILVER QUEEN PROPERTY, OMINECA MINING DIVISION, BRITISH COLUMBIA, CANADA. Prepared for NEW NADINA EXPLORATIONS LIMITED

NI 43-101 & 43-101F1 TECHNICAL REPORT by P&E Mining Consultants Inc. Effective Date: July 15, 2019 Signing Date: August 29, 2019. https://equitymetalscorporation.com/site/assets/files/3673/sq_ni43- 101_aug29_2019.pdf

5 https://sunsummitminerals.com/news/2021/sun-summit-drills-31-6-g-t-gold-over-4-0-metres-including-246-g-t- gold-over-0-5-metres-in-the-trench-zone-and-1-07-g-t-gold-over-109-metres-including-7-17-g-t-gold-over-5-2- metres-in-the-horseshoe-zo/

6 Diakow, L.J., and Drobe, J.R., 1989. The Geology and Mineral Occurrences in the North Newcombe Lake Map Sheet, NTS 093E/14. Open File Map 1989-1 British Columbia Ministry of Energy, Mines and Petroleum Resources Map.

7 Jamasmie, C., 2019. Gold Fields Salares Norte project in Chile granted environmental permit. December 18, 2019, 9:29am. Exploration Intelligence Latin America Gold Silver. https://www.mining.com/gold-fields-salares-norte-project-in-chile-granted-environmental-permit/

This news release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the intended use of the proceeds received from the Offering, the possible acquisition of the Projects, the Company's expectation that it will be successful in enacting its business plans, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "will", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that investor interest will be sufficient to close the Offering, and the receipt of any necessary regulatory or corporate approvals in connection with the Offering and the Assignment, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company's projects in a timely manner, the availability of financing on suitable terms for the exploration and development of the Company's projects and the Company's ability to comply with environmental, health and safety laws.

The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, the inability to close the Offering, the inability of the Company to enter into definitive agreements in respect of the Letters of Intent which are the subject of the Assignment, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including by the Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management's Discussion and Analysis and filed with certain securities commissions in Canada . All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

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GCM Mining Corp. ("GCM Mining" or the "Company") (TSX: GCM, OTCQX: TPRFF) announced today that its Segovia Operations produced 18,852 ounces of gold in August 2022, up from 17,377 ounces of gold in August last year. This brings the total gold production for the first eight months of 2022 to 139,952 ounces, up from 133,891 ounces in the first eight months last year. Segovia's trailing 12-months' total gold production at the end of August 2022 was 212,450 ounces, up about 3% over 2021. The Company remains on track to meet its annual production guidance for 2022 of between 210,000 and 225,000 ounces of gold.

Benefitting from the completion of the expansion of capacity at its Maria Dama processing plant at Segovia in August 2022, GCM Mining processed a total of 57,073 tonnes in the month, representing a daily processing rate of 1,841 tpd, compared with 50,245 tonnes and 1,621 tpd in August 2021. Segovia's head grades averaged 11.3 g/t in August 2022 compared with 12.0 g/t in August last year. For the first eight months of 2022, a total of 401,394 tonnes (equivalent to 1,652 tpd) were processed at Segovia at an average head grade of 12.0 g/t compared with a total of 365,805 tonnes (equivalent to 1,505 tpd) at an average head grade of 12.7 g/t in the first eight months last year. Production activities in the Company's mines and in the small-scale mines in its Segovia mining title in July and August were impacted by a temporary shortage in the supply of detonators for explosives. The situation is beginning to normalize and this should benefit production through the balance of the year.

The Company also processed an average of 107 tpd of tailings in August 2022 at its polymetallic plant at Segovia resulting in the production of approximately 133 tonnes of zinc concentrate and approximately 106 tonnes of lead concentrate. Payable production from the concentrates in August 2022 is estimated to total approximately 124,000 pounds of zinc, 137,000 pounds of lead, 9,900 ounces of silver and 128 ounces of gold. Actual payable quantities are subject to change and will be finalized once the concentrates are shipped. To date, the Company has produced a total of approximately 926 tonnes of lead concentrate and 1,071 tonnes of zinc concentrate which have been stockpiled. Transportation of the first concentrates to port has commenced this week and the first shipment to the international offtake customer is expected to take place before the end of September.

GCM Mining is a mid-tier gold producer with a proven track record of mine building and operating in Latin America. In Colombia, the Company is the leading high-grade underground gold and silver producer with several mines in operation at its Segovia Operations. Segovia produced 206,389 ounces of gold in 2021. In Guyana, the Company is advancing its fully funded Toroparu Project, one of the largest undeveloped gold/copper projects in the Americas, which is expected to commence production of more than 200,000 ounces of gold annually in 2024. GCM Mining has equity interests in Aris Gold Corporation (~44%; TSX: ARIS; Colombia – Marmato, Soto Norte; Canada - Juby), Denarius Metals Corp. (~32%; TSX-V: DSLV; Spain – Lomero-Poyatos and Colombia – Guia Antigua, Zancudo) and Western Atlas Resources Inc. (~26%; TSX-V: WA: Nunavut – Meadowbank).

Additional information on GCM Mining can be found on its website at www.gcm-mining.com and by reviewing its profile on SEDAR at www.sedar.com .

Cautionary Statement on Forward-Looking Information:

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to its production and production guidance and other anticipated business plans or strategies. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of GCM Mining to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Factors that could cause actual results to differ materially from those anticipated in these forward-looking statements are described under the caption "Risk Factors" in the Company's Annual Information Form dated as of March 31, 2022 which is available for view on SEDAR at www.sedar.com. Forward-looking statements contained herein are made as of the date of this press release and GCM Mining disclaims, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

For Further Information, Contact: Mike Davies Chief Financial Officer (416) 360-4653 investorrelations@gcm-mining.com

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Falcon Gold Corp. (TSXV:FG)(GR:3FA)(OTCQB:FGLDF); ("Falcon" or the "Company") is pleased to announce that exploration has commenced at the Company's 100% owned Gander North Property, with initial results now available from its reconnaissance exploration program. The project commenced in late June, with initial prospecting and till sampling. Preliminary efforts have identified numerous evidence for quartz veins, including subcrop and float. Surface samples collected to date have been submitted for assay; and initial results have returned values of up to 885 ppb gold from sub cropping quartz veins, up to 0.15% copper, and up to 26.8 gpt silver from quartz float. Several samples have returned anomalous tungsten, and further analysis is required to confirm the content. Initial results for gold are presented in figure 1. Multiple geophysical targets were identified over the project area earlier this year through review of publicly available datasets, and these will be the focus of ongoing reconnaissance. Detailed work, including systematic sampling and geological mapping will commence this fall to better define targets in advance of drilling. Work permit applications have been submitted for the drill program, and approval is pending

Mr. Karim Rayani, Falcon's Chief Executive Officer, commented, "Excellent progress is being made at our Gander North project, preliminary results are more than just encouraging with surface samples as high as 885 ppb gold. We now have multiple geophysical targets to go after that have been identified - with the help of publicly available data sets, we have now submitted our drill plan application and are awaiting final approval for our inaugural drill campaign. This is an opportunistic time for Falcon, as we have set ourselves apart from our peers. We control a sizeable area of influence totaling 108,000 hectares when combining this with our JV partner Marvel Discovery at Baie Verte and Golden Brook the number jumps to 150,000 hectares making us one of the dominant players on the island. We look forward to reporting back on the remaining sample results with the drill permit news when received."

About the Gander North Property

The Gander North Property is comprised of 406 claims within two blocks covering 10,150 hectares, and is located in two blocks, one immediately south of Gander, Newfoundland (see figure 1), and the second block immediately east of the town. The property occurs within the Gander Zone and is proximal to the

Figure 1 - Initial results from 2022 sampling stations at the Gander North Property.

Dog Bay-Appleton-Grub fault system, a crustal scale zone that extends southwest from the north coast of Newfoundland for nearly 200km to Gander. Structural corridors in central Newfoundland have shown to be intimately associated with recent gold discoveries including New Found Gold's Queensway project located approximately 9km from Falcon's project, an area of considerable potential that made national headlines recently in an article by the Financial Post (https://financialpost.com/commodities/mining/eric-sprott-makes-his-biggest-bet-yet-on-what-he-believes-could-be-the-greatest-gold-discovery-in-the-history-of-canada).

Northeast trending structural lineaments first recognized by Gander Gold have returned spectacular results from soil geochemistry sampling surveys as evidenced with recent published results of 1432 parts per billion gold. These NW trending zones are interpreted to continue onto Falcon's Gander North Property. An interpretation of the regional magnetics show NNE trending, ophiolite bearing thrust faults are cross-cut by a series of brittle NE trending fault-fractures, which indicate a regional setting similar to the highly prospective eastern Exploits Subzone (see figure 2). Gold mineralization models along the Exploits Subzone are based on structural settings analogous to those reported for Fosterville in Victoria, Australia (https://exploitsdiscovery.com/projects/). Tungsten mineralization models indicate a common association with intrusion-related gold deposition that have a genetic association to felsic intrusions, particularly within cratonic margins or back-arc positions relative to continental margin arcs, or within continental collisional settings.

Reference Gander Gold: https://www.stockwatch.com/News/Item/Z-C!SASY-3181872/C/SASY

Greg Robinson, P. Geo, an independent qualified person as defined in National Instrument 43-101, has reviewed, and approved the technical contents of this news release on behalf of the Company.

Falcon is a Canadian mineral exploration company focused on generating, acquiring, and exploring opportunities in the Americas. Falcon's flagship project, the Central Canada Gold Mine, is approximately 20km southeast of Agnico Eagle's Hammond Reef Gold Deposit which has currently estimated 3.32 million ounces of gold (123.5 million tonnes grading 0.84 g/t gold) mineral reserves, and 2.3 million ounces of measured and indicated mineral resources (133.4 million tonnes grading 0.54 g/t gold). The Hammond Reef gold property lies on the Hammond shear zone, which is a northeast-trending splay off the Quetico Fault Zone ("QFZ") and may be the control for the gold deposit. The Central Gold property lies on a similar major northeast-trending splay of the QFZ.

The Company holds 14 additional projects: The Esperanza Gold/Silver/Copper mineral concessions located in La Rioja Province, Argentina, The Viernes Gold/Silver/Copper project in Antofagasta Chile, The Springpole West Property in the world-renowned Red Lake mining camp; a 49% interest in the Burton Gold property with Iamgold near Sudbury Ontario; and in B.C., the Spitfire-Sunny Boy, Gaspard Gold claims; and most recently the Great Burnt, Hope Brook, and Baie Verte acquisitions adjacent to First Mining, Matador, Benton-Sokoman's JV, and Marvel Discovery in Central Newfoundland.

Karim Rayani Chief Executive Officer, Director

Telephone: (604) 716-0551 Email: k@r7.capital

Cautionary Language and Forward-Looking Statements

This news release may contain forward looking statements including but not limited to comments regarding the timing and content of upcoming work programs, geological interpretations, receipt of property titles, etc. Forward looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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First Tellurium Corp. (CSE: FTEL OTC FSTTF ) (the "Company" or "First Tellurium"), reports that the US Department of Energy (DOE) has launched the Cadmium Telluride Accelerator Consortium a $20 million initiative designed to make cadmium telluride (CdTe) solar cells less expensive and more efficient. The Consortium's intent is to spur technological advancements in CdTe manufacturing to help increase America's competitiveness, bolster domestic innovation and advance clean electricity deployment. The initiative augments President Biden's goal of achieving a net-zero economy by 2050.

"This news further supports our efforts to expand and develop the tellurium resource at the Deer Horn Project," said First Tellurium President and CEO Tyrone Docherty. "The demand for tellurium continues to increase, not only for solar cells, but for new battery technology and other applications. Currently the United States imports 95% of its required tellurium."

First Tellurium's Deer Horn Property, located in west-central British Columbia, hosts one of the world's only silver-gold-tellurium properties with an NI 43-101 compliant tellurium resource. The Company is also exploring the Klondike tellurium-gold property in Colorado, a high-grade tellurium prospect held previously by First Solar, Inc., one of the world's largest solar panel producers.

According to 360 Research, the CdTe solar cell market is expected to exceed $10 billion in 2027, more than double the roughly $4 billion in CdTe cells installed in 2021. The United States Geological Survey (USGS) estimates that roughly 40% of tellurium consumed in the U.S. during 2021 went to production of CdTe solar cells.

CdTe solar cells, made from cadmium and tellurium, were first developed in the United States. Today they make up about 20% of the market for solar modules. They offer the lowest cost-per-watt technology , have the shortest energy payback time and are the least carbon intensive in production.

"Major cadmium-telluride manufacturers, and in particular First Solar Inc., will need new amounts of tellurium to meet market needs," said Docherty. "According to the USGS, First Solar already consumes roughly 30% of the world's tellurium production."

First Solar, Inc. (Nasdaq: FSLR), broke ground in August 2021 on its third and largest CdTe solar cell manufacturing facility, located in Ohio.

The new 3.3 gigawatt (GW)DC plant, scheduled to open mid-2023, represents a $680 million investment. When fully operational, the facility is expected to scale the company's Ohio manufacturing footprint to a total annual capacity of 6 GWDC, which is expected make it the largest fully vertically integrated solar manufacturing complex outside China.

First Solar also intends to build its fourth domestic factory, with an annual capacity of 3.5 GWDC, in the US Southeast. The company expects to invest up to $1 billion in the new factory, which, contingent upon permitting and pending approval of various federal, state, regional, and local incentives, is expected to commence operations in 2025.

A December, 2021 report by S&P Global Market Intelligence noted: "First Solar's plan to spend $1.36 billion to help increase module capacity to 16 GW by 2024 seems certain to strain the tellurium market. If the company achieves its goals, its annual demand for the mineral will exceed last year's estimated global production by up to 70%, according to data from a November report by researchers at the Institute of Environmental Science and Technology at the Autonomous University of Barcelona."

Seeing the growing need for domestic supplies of tellurium, Rio Tinto invested approximately $2.9 million to build a plant capable of recovering roughly 20 metric tons of this semiconductive metalloid as a byproduct of the copper produced at its Kennecott Mine in Utah. First Solar has committed to purchasing all the tellurium produced at Kennecott.

"There are so many factors aligning for a robust tellurium market going forward," said Docherty. "With the U.S. pushing heavily to expand North American supply chains, we're positioning First Tellurium strategically to help meet that growing demand."

Presenting at the NAI 500 Resource Conference First Tellurium also reports that it will be presenting at the NAI 500 GCFF Global Resource Investment Conference , September 24th, 2022 at the Richmond Sheraton Hotel. GCFF is pleased to announce the return to in-person attendance for the first time since the pandemic.

FTEL's New Website, Presentation and Video We are also excited to announce the launch of our new website , where you'll find information about our company and properties. In addition, we have also released a new animated pitch deck, which you can find here . This presentation provides an overview of our business and future opportunities. Finally, we have also released a new explainer video, which you can find here . This video dives into the details of our properties and how they can benefit First Tellurium Investors.

Ab out First Tellurium Corp. First Tellurium's unique business model is to generate revenue and value through mineral discovery, project development, project generation and cooperative access to untapped mineral regions in Indigenous territory with sustainable exploration.

Our polymetallic (tellurium, gold, silver copper, tungsten) Deer Horn Project in British Columbia and Klondike tellurium-gold property in Colorado anchor a diversified search for metals, working in alliance with Indigenous peoples, NGOs, governments and leading metals buyers. This is the future of mineral exploration: generating revenue by exploring responsibly and leveraging diverse partnerships.

First Tellurium proudly adheres to and supports the principles and rights set out in the United Nations Declaration on the Rights of Indigenous Peoples and in particular the fundamental proposition of free, prior and informed consent.

Neither the Canadian Securities Exchange nor its regulations services accept responsibility for the adequacy or accuracy of this release.

Forward-looking information All statements included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These forward-looking statements involve numerous assumptions made by the Company based on its experience, perception of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances. In addition, these statements involve substantial known and unknown risks and uncertainties that contribute to the possibility that the predictions, forecasts, projections and other forward-looking statements will prove inaccurate, certain of which are beyond the Company's control. Readers should not place undue reliance on forward-looking statements. Except as required by law, the Company does not intend to revise or update these forward-looking statements after the date hereof or revise them to reflect the occurrence of future unanticipated event .

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Edgemont Gold Corp. (CSE: EDGM) (FSE: EG8) ("Edgemont") is pleased to announce the assay results from its recent Phase II drill program at the Dungate copper-gold porphyry project, where a total of five holes totaling 2063 metres were drilled in the spring of 2022. Dungate is located 6 km south of the town of Houston in the Omineca Mining Division of B.C.

Highlights from this drilling include:

In addition, additional assaying of Hole 2021-04, drilled in 2021, returned an interval of 55 m @ 0.20 g/t Au (previously reported as 27m @ 0.24 g/t Au).

The target for this drill program was following up on structurally controlled gold zones discovered in the 2021 Phase 1 drill program (see March 28, 2022 news release). These zones were associated with coincident magnetic and IP anomalies within and proximal to a highly altered and sulphide mineralized quartz feldspar porphyry ("QFP") intrusion. QFP was intersected in 4 holes of this Phase 2 program, with hole DG22-08 intersecting a 279 meter zone (261m - 540m) of complete quartz flooded replacement of what is interpreted as intermediate volcanics. Unfortunately, this quartz zone was not mineralized. A map of the drill holes completed at Dungate can be accessed below.

2022 Drill Hole Location Map To view an enhanced version of this map, please visit: https://images.newsfilecorp.com/files/6955/137195_de76900f14802abc_002full.jpg

Gold mineralization was encountered both in the host volcanics adjacent to the QFP and within the QFP intrusive which generally had 2-10% sulphides occurring as disseminations, replacements, fracture fillings, veins, and as breccias. The surrounding volcanic host rock to the intrusion was also variably altered, presumably by the proximity to the QFP intrusive.

Broad anomalous copper and molybdenum intervals were intersected in the heart of the QFP indicating pervasive mineralization, but with no higher grade concentrations (>0.20% Cu) encountered.

Significant drill results are as follows (In general - Gold zones >0.10 g/t Au with anomalous Silver, Copper and Molybdenum):

1 DG21-04 intersection previously reported as 27m @ 0.24 g/t Au (NR March 28, 2022)

Drill results from 2022 have confirmed the structurally controlled gold mineralization indicated in the 2021 program with gold deposition on the periphery of the QFP and into the adjacent volcanic host rocks. In the opinion of Edgemont management, economic intersections of gold have not yet been encountered. Due to the wide spacing of the current drilling it is unknown whether a higher concentration of gold exists lateral to the currently intersected zones. Edgemont continues to assess these latest drill results, along with prior data, and will provide an update on future exploration plans at Dungate in due course.

This news release reports the assay results from five (5) drill holes from which 871 core samples were assayed. The Company inserted certified standards and blanks into the sample stream as a check on laboratory Quality Control (QC). Drill core samples are cut by diamond saw at a core facilities in Houston, BC. A halved core sample is left in the core box. The other half core is sampled and transported by Gold Terra personnel in securely sealed bags to MSALabs in Terrace, BC for crushing and grinding, then transport to MSALabs analytical facility in Langley, BC. Ground and were subjected to 30g fire assay with AA finish (FAS-111) and Multi-element ICP-ES (ICP-130) Aqua Regia analysis (34 elements). MSALabs routinely inserts certified standards, blanks and pulp duplicates, and results of all QC samples are reported.

Because of the wide spacing of drill holes, the orientation of the mineralized zones reported here is not known, and Edgemont has not interpreted true thickness.

The technical information contained in this news release has been approved by Joseph Campbell, P. Geo, a Director of Edgemont, who is a Qualified Person as defined in "National Instrument 43-101, Standards of Disclosure for Mineral Projects."

Edgemont is actively exploring the Dungate copper/gold porphyry project located just 6 km southeast of Houston, B.C., in a region with a history of successful mining projects including the Equity Silver Mine, Imperial Metals' Huckleberry Mine, and the more recent gold-silver discovery at Sun Summit Minerals' Buck Project which sits just 7 km to the south.

Dungate Location Map To view an enhanced version of this map, please visit: https://images.newsfilecorp.com/files/6955/137195_de76900f14802abc_003full.jpg

Having acquired an interest in its initial claims at Dungate in 2018, the Company now holds five mineral tenures covering 1,582.2 hectares that can be explored year-round by all-season roads. For more information, please visit our website at www.edgemontgold.com.

For further information, please contact: Stuart Rogers Chief Executive Officer Tel: (778) 239-3775 www.edgemontgold.com

Neither the Canadian Securities Exchange nor its Market Regulator (as the term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements made and information contained in this news release constitute "forward-looking information" within the meaning of applicable securities legislation ("forward-looking information"). Generally, this forward-looking information can, but not always, be identified by use of forward-looking terminology such as "plans", "expects", "intends", "anticipates" or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof. All statements other than statements of historical fact may be forward-looking information. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. In particular, this news release contains forward-looking information regarding risks inherent in exploration activities, including unforeseen delays due to circumstances beyond our control, including weather and other natural phenomena, and financial market and regulatory risks.

The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in this forward-looking information. Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated or expected. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof. Except as required under applicable securities legislation and regulations applicable to the Company, the Company does not intend, and does not assume any obligation, to update this forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137195

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