Steppe Gold Announces Final Instalment on Asset Sale

Rhea-AI Summary

Steppe Gold (OTCQX: STPGF) received the final instalment of approximately CAD$3 million on February 10, 2026, completing payment for the sale of the Aurifera Tres Cruces asset in Peru.

The Tres Cruces Oxide Project was sold on August 1, 2024 for ~CAD$12 million payable over ~18 months; prior instalments were received in September 2024, February 2025 and July 2025.

Positive

• Final receipt of ~CAD$3 million completed the CAD$12M sale
• Transaction closed and cash collection completed over ~18 months

Negative

• None.

Ulaanbaatar, Mongolia--(Newsfile Corp. - February 19, 2026) - Steppe Gold Ltd. (TSX: STGO) (OTCQX: STPGF) (FSE: 2J9) ("Steppe Gold" or the "Company") announces that it has now received the final instalment of approximately CAD$3m relating to the sale of the Aurifera Tres Cruces asset in Peru.

On August 1, 2024, the Company completed the sale of the Tres Cruces Oxide Project to Minera Boroo Misquichilca S.A. and Boroo Pte Ltd. (as guarantor) for approximately CAD$12 million payable over approximately 18 months (the "Transaction").

Payment instalments under the Transaction were received in September 2024, February 2025, and July 2025, and the final instalment was received on February 10, 2026.

Cautionary Statement on Forward-Looking Information

This news release contains certain statements or disclosures relating to the Company that are based on the expectations of its management as well as assumptions made by and information currently available to the Company which may constitute forward-looking statements or information ("forward-looking statements") under applicable securities laws. All such statements and disclosures, other than those of historical fact, which address activities, events, outcomes, results, or developments that the Company anticipates or expects may, or will, occur in the future (in whole or in part) should be considered forward-looking statements. In some cases, forward-looking statements can be identified by the use of the words "anticipates", "expects", "plans", "will" and similar expressions. Forward-looking statements are based on a number of assumptions and are subject to a number of risks and uncertainties, many of which are beyond the Company's control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking statements. Such risks and uncertainties include, but are not limited to, the factors discussed under "Risk Factors" in the Company's most recent annual information form and management's discussion and analysis, available on SEDAR+ at www.sedarplus.ca. The Company does not undertake any obligation to update such forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly 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.

Contact Information

Steppe Gold Ltd.

Dulguun Erdenebaatar, Chairman

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284497

FAQ

What did Steppe Gold (STPGF) announce on February 19, 2026 about Tres Cruces?

Steppe Gold announced it received the final instalment of ~CAD$3 million on February 10, 2026. According to the company, this completes the CAD$12 million sale of the Tres Cruces Oxide Project closed August 1, 2024.

How much was the total sale price for the Tres Cruces Oxide Project reported by Steppe Gold (STPGF)?

The total sale price was approximately CAD$12 million. According to the company, that amount was payable over approximately 18 months with instalments received across 2024–2026.

When did Steppe Gold (STPGF) receive the final payment for the Aurifera Tres Cruces asset?

Steppe Gold received the final instalment on February 10, 2026. According to the company, prior payments were received in September 2024, February 2025 and July 2025.

Who bought the Tres Cruces Oxide Project from Steppe Gold (STPGF)?

The Tres Cruces Oxide Project was sold to Minera Boroo Misquichilca S.A. with Boroo Pte Ltd as guarantor. According to the company, the sale closed on August 1, 2024.

What does the final CAD$3M instalment mean for Steppe Gold (STPGF) shareholders?

The final CAD$3M instalment completes the cash receipts for the CAD$12M sale of Tres Cruces, clearing that transaction. According to the company, the instalment was received on February 10, 2026.

Over what timeline were payments for the Tres Cruces sale to Steppe Gold (STPGF) scheduled?

Payments were structured to be payable over approximately 18 months. According to the company, instalments were received in September 2024, February 2025, July 2025 and the final on February 10, 2026.