4770 72nd St,
Delta, BC V4K 3N3

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STOCK SYMBOL
TSX-V: DAU
OTC: DAUGF
              FKFT: QXR2.F

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Delta, British Columbia, October 11, 2017, DESERT GOLD VENTURES INC. (“Desert Gold” or the “Company”) (TSX.V: DAU /FF: QXR2 /OTC: DAUGF) is pleased to announce that it has closed the second and final tranche of its non-brokered private placement (the “Final Tranche”) raising aggregate gross proceeds of $340,000 through the issuance of 1,360,000 units (each a “Unit”).  Each Unit consists of one common share and one share purchase warrant (the “Warrant”). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of CDN$0.30 per share for a period of five (5) years from the closing of this Private Placement. Warrants will be subject to a thirty (30) day acceleration clause upon announcement by the Company that its shares have traded on a volume weighted average basis of CDN$1.00 per common share, or more, for at least ten (10) consecutive trading days.

In the first tranche, the Company issued 2,000,000 common shares for gross proceeds of CDN$500,000, which together with the Final Tranche raised total gross proceeds of CDN$840,000. The private placement was oversubscribed by CDN$40,000.

Certain directors and officers of the Company acquired Units under the Private Placement. Such participation is considered to be a related party transaction as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued to or the consideration paid by such persons will exceed 25% of the Company’s market capitalization.

In connection with closing the Final Tranche, the Company paid finder’s fee consisting of a cash fee of $7,525 and 30,100 non-transferable brokers warrants.  The brokers’ warrants are exercisable at a price of $0.25 for a period of two years from closing of the Private Placement.

The proceeds of the Final Tranche will be used for drilling and fieldwork at the Company’s Farabantourou and Segala West projects in Western Mali. All securities issued pursuant to the Final Security will be subject to a hold period of four months and a day.

ON BEHALF OF THE BOARD

“Jared Scharf”                                                    
Jared Scharf, President and Director
Desert Gold Ventures Inc.
+1 (858) 247-8195

For further information please visit our website www.desertgold.ca or information available on www.SEDAR.com under the Company’s profile.

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. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the united states securities act of 1933, as amended, and may not be offered or sold in the united states or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such act.