Early Warning News Release Regarding the Ownership of Securities of Steppe Gold Ltd. By LIM Advisors Limited

HONG KONG, Aug. 20, 2018 /CNW/ - LIM Advisors Limited, along with LIM Asia Special Situations Master Fund Limited, as joint actor, announced that between June 15, 2018 and August 17, 2018, it had acquired 1,465,200 Common Shares ("Shares") of Steppe Gold Ltd. (the "Issuer").

Prior to the acquisitions, LIM Advisors Limited exercised control over 7,000,000 Shares representing approximately 15.54% of the then issued and outstanding Shares on a partially diluted basis. The recent acquisitions increase LIM Advisors's position in the Shares of the Issuer by 1,465,200 (or approximately 3.25%) to 8,465,200, or approximately 18.79% of the presently issued and outstanding Shares on a partially diluted basis.

The securities were acquired in multiple trades through the facilities of the Toronto Stock Exchange at prices ranging from C$1.0953 to C$1.1994 per Share for an aggregate purchase price purchase of C$1,627,535.79

LIM Advisors has acquired the Shares for investment purposes, and may acquire further securities of the Issuer, or dispose of securities of the Issuer, both as investment conditions warrant.  LIM Advisors has control over but not ownership of the shares and provides investment management services to LIM Asia Special Situations Master Fund Limited, which has ownership of the securities of the Issuer.

The Issuer's address is: Steppe Gold Ltd., 90 Adelaide St. West, Suite 400, Toronto, ON, M5H 3V9. The Issuer's Shares are listed on the Toronto Stock Exchange.

LIM Advisors' office address is 19/F, Ryuttonjee House, 11 Duddell Street, Central, Hong Kong and its principal business is investment management.

SOURCE LIM Advisors Limited

please contact Benjamin Mak, Chief Executive Officer of LIM Advisors Limited, at [phone]