News Releases

Delta, British Columbia, January 16, 2019. Desert Gold Ventures Inc. (“Desert Gold” or “the Company”) (TSXV: DAU) is pleased to announce that fieldwork has begun at its Farabantourou property situated along the Senegal Mali Sheer Zone (“SMSZ”) in Western Mali.

Work Commencement

Phase 1: Fieldwork will consist of detailed geology and structural mapping over 8 known gold zones on the property. The zones are hosted by a variety of rock types including limestones, siltstones, intermediate volcanics and felsic intrusions with the gold zones oriented in at least 3 different directions. The objective of the program is to determine the local controls for the gold mineralization and the relative strength of the individual zones in order to both prioritize and more accurately target follow-up drilling. In addition to the known mineralized zones on the property, there are in excess of 45, untested, gold-in-soil anomalies containing greater than 200 ppb gold with values ranging up to 7,589 ppb gold. These anomalies, which occur throughout the entire property, both east and west of the SMSZ, suggest significant exploration potential in a variety of geological settings (see Figure 1). Each anomaly will be reviewed in the field and evaluated for the potential to host gold mineralization with higher priority targets selected for follow-up. This work, in conjunction with drilling, is expected to lead to the development of a significant number of new priority drill targets.

Phase 2: The second phase of work will consist of following up on known gold zones and drill testing new targets. A combination of auger, reverse circulation, air core and select diamond drilling will be used to evaluate new targets and expand existing known zones. This phase is scheduled to begin in Q2 of 2019.      

About Farabantourou

The permit is 122 km2 and spans the SMSZ which is related to 30 million + oz gold of production and resources(1). The permit contains 8 known gold zones with numerous material drill intercepts including:

  • 8.40 g/t gold over 10 metres
  • 6.28 g/t gold over 13 metres
  • 2.29 g/t gold over 20 metres
  • 9.99 g/t gold over 4 metres
  • 8.07 g/t gold over 8 metres

map1

(Figure 1) Farabantourou Property Map Showing Frikidi Trend, Gold-in-Soil Anomalies and Select Historic Drill Intercepts

Desert Gold holds three gold projects in Mali (Farabantourou, Segala Ouest and Djimbala), of which, Farabantourou and Segala West are located within the Kenieba Inlier of western Mali. The Farabantourou project lies 40 km to the south of AngloGold Ashanti’s/Iamgold’s Sadiola gold mine and 50 km to the north of Randgold’s Loulo-Gounkoto complex gold mines (see Figure 2).

map2

(Figure 2) Location of Desert Gold’s Farabantourou and Segala Ouest gold projects in Western Mali

(1) Randgold's Loulo-Gounkoto mine complex to the west with ore reserves of 32 Mt average at 4.6 g.t for 3.7 million oz Au in the Proven and Probably category. Endeavour Mining's Tabakoto and Segala mines which hosts ~3 million oz Au (18.5 Mt at 3.5 g/t for 1.8 million oz Au measured and indicated, 9 Mt at 3.6 g/t for 1 million oz Au inferred and 6.4 Mt at 3.5 g/t for 0.7 million oz Au proven and probable. B2Gold Fekola mine to the south with ore reserves of 48.3 million Mt average at 2.37 g/t gold for 3.34 million oz Au in the Proven and Probably category and 65.8 million Mt average at 2.13 g/t gold for 4.5 million oz Au. To the north Sadiola/Yatela mine contains ore reserves of 38 million Mt at 1.57 g/t gold for 2 million oz Au and 87 million Mt at 1.58 g/t gold for 6 million oz Au in the measured and indicated category.

On Behalf of the Board of Directors

“Sonny Janda”
____________________
Sonny Janda
Director

For further information please contact Jared Scharf, President, at +1 (858) 247-8195 or visit www.desertgold.ca

Don Dudek, P. Geo, who is a director of the Company and a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information in this press release.

Additional information can also be viewed at www.SEDAR.com under the company’s profile.

About Desert Gold

Desert Gold Ventures Inc. is an advanced exploration and development company which holds 3 gold exploration permits in Western Mali (Farabantourou, Segala West and Djimbala) and a mining license at its Rutare project in central Rwanda.

This news release contains forward-looking statements respecting the Company's ability to successfully complete the Offering. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements, including the inability of the Company to successfully complete the Offering. These uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with mining operations. Risks and uncertainties about the Company's business are more fully discussed in the company's disclosure materials filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. The Company assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.

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.

 

Delta, British Columbia, January 8, 2019. Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FF: QXR2, OTC: DAUGF) announces that it has received consent from the exchange to extend closing of its non-brokered private placement to January 25, 2019. The non-brokered private placement consists of up to 5,000,000 units at a price of CDN $0.15 per unit (the “Unit”) to raise up to an aggregate of CDN $750,000 (the “Financing).

 Pursuant to the terms of the Financing, each Unit consists of one common share in the equity of the Company and one share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of CDN $0.15 per share for a period of two (2) years from the closing of the Financing

 All securities issued as a result of closing of this first tranche are subject to a statutory hold period.

 The proceeds of the Financing will be used for working capital.

 

ON BEHALF OF THE BOARD

“Jared Scharf”

___________________________

Jared Scharf
President & Director
+1 (858) 247-8195

For further information please visit www.SEDAR.com under the company’s profile.

This news release contains forward-looking statements respecting the Company's ability to successfully complete the Offering. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements, including the inability of the Company to successfully complete the Financing. These uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with mining operations. Risks and uncertainties about the Company's business are more fully discussed in the company's disclosure materials filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. The Company assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.

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.

Delta, British Columbia, December 21, 2018, DESERT GOLD VENTURES INC. (“Desert Gold” or the “Company”) (TSX.V: DAU/FF: QXR2/OTCBB: DAUGF) announces that the following appointments were made after completion of the 2018 Mali Presidential Election:

  • Mme LELENTA Hawa Baba BAH, formerly Director of The National Directorate of Geology and Mines (the “DNGM”), was confirmed as Minister of Mines on September 9th, 2018 and;
  • Mr. Cheick G KEÏTA was confirmed as the new Director of the DNGM on December 20th, 2018

The Desert Gold team wishes to congratulate Honourable Minister LELENTA Hawa Baba BAH and Director Cheick G KEÏTA on their respective appointments and looks forward to continuing to work with them in their new leadership roles at the Ministry of Mines and DNGM.

ON BEHALF OF THE BOARD OF DIRECTORS

Jared Scharf, President & Director
+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.

Certain statements contained in this release may constitute "forward–looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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.

Delta, British Columbia, December 19, 2018, DESERT GOLD VENTURES INC. (“Desert Gold” or the “Company”) (TSX.V: DAU/FF:QXR2/OTC:DAUGF) is pleased to announce the appointment of Greg Isenor to the Company’s board of directors.

Mr. Isenor holds a B.Sc. geology, (1970) from Acadia University and is a member of the Association of Professional Geologists of Nova Scotia. Currently Mr. Isenor is President and CEO of Roscan Gold Corporation; a company engaged in gold exploration in Western Mali.

Mr. Isenor was President, CEO and Director (2005 to 2017) of Merrex Gold Inc., up until Merrex was taken over by Iamgold Corporation. During that time, Merrex discovered two significant gold deposits in Mali (West Africa): the Siribaya deposit; and, with joint venture partner Iamgold, the Diakha deposit. To date, these two deposits are estimated to represent a combined resource approaching approximately two million ounces of gold. 

Previously, Mr. Isenor was the President, CEO and Director (2003 to 2005) of Jilbey Gold Exploration Ltd., until Jilbey was acquired by High River Gold Mines Limited. During Mr. Isenor's time with Jilbey, Mr. Isenor led the team that identified the Bissa gold deposit in Burkina Faso (West Africa), which was placed into production by Nord Gold SE and has a reported resource exceeding 5 million ounces of gold. In addition, from 1979 - 2003, Mr. Isenor worked as an independent consulting geologist on mineral exploration projects in Canada, the United States, Australia, New Zealand, Asia and Africa. As well, Mr. Isenor founded Jubilee Minerals Inc, to develop the Jubilee zinc deposit; and, Glencoe Resources Inc. to develop the Glencoe limestone deposit. Both of these deposits are located in Nova Scotia, Canada.

The Company also announces that Dr. Luc Antoine has resigned as a director of the Company. Desert Gold thanks Dr. Antoine for his contribution to the Company over the last several years and wishes him luck in his future endeavors.

Desert Gold’s President Jared Scharf remarked, “We’re delighted to have Greg join the board. His experience in West Africa and more specifically in Western Mali will be a great asset to our company moving forward.”

ON BEHALF OF THE BOARD

Jared Scharf, President & Director

+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.

Certain statements contained in this release may constitute "forward–looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated”, “anticipates” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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.

Delta, British Columbia, December 17, 2018. Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FF: QXR2, OTC: DAUGF) announces, subject to approval of the TSX Venture Exchange and further to its news release of November 30, 2018 that the Company has closed the first tranche (the “First Tranche”) of its non-brokered private placement of up to 5,000,000 units at a price of CDN $0.15 per unit (the “Unit”) to raise up to an aggregate of CDN $750,000 (the “Financing”). The Company has raised proceeds of $540,000 through the sale of 3,600,000 Units.

Pursuant to the terms of the Financing, each Unit consists of one common share in the equity of the Company and one share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of CDN $0.15 per share for a period of two (2) years from the closing of the Financing, subject to a thirty (30) day acceleration clause, at the Company’s option, upon announcement by the Company that its shares have traded on a volume weighted average basis of CDN $0.75 per common share, or more, for at least ten (10) consecutive trading days.

All securities issued as a result of closing of this first tranche are subject to a statutory hold period.

The proceeds of the Financing will be used for exploration activities at the Company’s projects in Western Mali.

ON BEHALF OF THE BOARD

“Jared Scharf”

___________________________
Jared Scharf
President & Director
+1 (858) 247-8195

For further information please visit www.SEDAR.com under the company’s profile.

This news release contains forward-looking statements respecting the Company's ability to successfully complete the Offering. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements, including the inability of the Company to successfully complete the Financing. These uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of gold; operational, funding, and liquidity risks; the degree to which mineral resource estimates are reflective of actual mineral resources; and the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with mining operations. Risks and uncertainties about the Company's business are more fully discussed in the company's disclosure materials filed with the securities regulatory authorities in Canada and available at www.sedar.com and readers are urged to read these materials. The Company assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless required by law.

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.