Steppe Gold's Strategic Acquisition and Expansion Plans Unveiled

Steppe Gold has initiated a transformative share exchange agreement aimed at acquiring all of the issued and outstanding common shares of Boroo Gold, a strategic move poised to establish Steppe Gold as Mongolia's premier gold producer. In tandem with this acquisition, Steppe Gold has also finalized separate definitive share purchase agreements, paving the way for the sale of the Tres Cruces Oxide Project to Boroo Singapore for approximately 12 million Canadian dollars, to be disbursed over the course of the next 18 months. South emphasized that this strategic maneuver not only accelerates Steppe Gold's journey towards becoming a multi-asset mining group focused on Mongolia but also fortifies its financial position with robust cash flow, buoyed by the recent upsurge in gold prices. Furthermore, South disclosed to Proactive that Boroo Gold anticipates a significant uptick in gold production from 2024 to 2031, with projected average annual production hovering around 60,000 ounces in 2024, 2025, and 2026. As Steppe Gold charts its course towards becoming a dominant force in Mongolia's mining landscape, the company remains steadfast in its commitment to delivering value to its shareholders while driving sustainable growth through strategic acquisitions and operational excellence. Stay tuned for further updates as Steppe Gold continues to execute its ambitious expansion plans and solidify its position as a leading player in the gold mining industry.