Commodities
Steppe Gold Amends EPC Agreement for ATO Phase 2 Project
Ulaanbaatar, Mongolia--(Newsfile Corp. - June 26, 2026) - Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") announces that Steppe Gold LLC ("Steppe Mongolia"), its wholly owned subsidiary, has entered into an amendment (the "EPC Amendment") to its engineering, procurement and construction agreement (the "EPC Agreement") with Hexagon Build Engineering LLC ("Hexagon") for Phase 2 at the ATO Mine (the "Project"), increasing the contract value from US$148.8...
About this update from Steppe Gold Ltd.
Ulaanbaatar, Mongolia--(Newsfile Corp. - June 26, 2026) - Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") announces that Steppe Gold LLC ("Steppe Mongolia"), its wholly owned subsidiary, has entered into an amendment (the "EPC Amendment") to its engineering, procurement and construction agreement (the "EPC Agreement") with Hexagon Build Engineering LLC ("Hexagon") for Phase 2 at the ATO Mine (the "Project"), increasing the contract value from US$148.8 million to approximately US$238.2 million. Following a review of the EPC Agreement and the Project's development plan, the Company's management determined that certain additional infrastructure and supporting facilities are required for Phase 2 development and were therefore added to the scope of work under the EPC Agreement. These additions include a tailings management facility, power transmission and water supply infrastructure, concentrate transportation roads and the construction of warehousing, maintenance shop and camp facilities. These items are necessary for the Project but were not fully contemplated in the EPC Agreement in terms of responsibility, or method of execution. Financing The Company intends to pursue debt financing in connection with the revised project scope of the Project. Financing arrangements have not yet been determined or finalized, and there can be no assurance that the Company will be able to obtain the required financing on acceptable terms, or at all. Accordingly, there can be no assurance that the Project will proceed as currently contemplated. Outlook The revised feasibility study is expected to be completed in the second half of 2026 and to reflect the Company's decision to increase the Project's planned annual throughput capacity. The timing of further Project development remains subject to, among other things, completion of the revised feasibility study, securing the required financing, receipt of all necessary permits and approvals, and ongoing project execution planning. As the Project advances, additional works, infrastructure requirements or scope modifications may be identified through engineering, permitting and optimization activities, which could affect the Project's capital costs, development schedule and overall execution strategy. About ATO Mine ATO Mine is a multi-stage precious metals project, located in Dornod Province...