News Releases

Delta, British Columbia, June 12, 2018, DESERT GOLD VENTURES INC. (“Desert Gold” or the “Company”) (TSX.V: DAU/FF: QXR2/OTC: DAUGF) announces that incumbent directors, Jared Scharf, Sonny Janda and Dr. Luc Antoine were elected for the ensuing year at the June 8, 2018 annual shareholders’ meeting. New nominee, Mr. Don Dudek, was unanimously elected by the shareholders as a director.

Mr. Dudek brings over 30 years of experience in various roles with junior to senior exploration and mining companies. He recently served as Senior V.P. of Technical Services for Endeavour Mining Corporation while managing a feasibility study for the Hounde Gold Project in Burkina Faso. Previously, he served as Senior VP Exploration of Avion Gold Corporation, a successful junior gold producer and explorer in Western Mali and as Exploration Manager for AUR Resources Inc. He holds a B.Sc. Geology (Honors) from the University of Saskatchewan. The Company welcomes Mr. Dudek to its board of directors and looks forward to working with him as a member of its team.

ON BEHALF OF THE BOARD

Jared Scharf, President
Tel: +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, May 23, 2018. Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FF: QXR2, OTC: DAUGF) announces, further to its news release of April 26, 2018 that the Company has closed its non-brokered private placement (the “Offering”) and is pleased to announce that the Offering is oversubscribed. The Company has raised an aggregate of $647,500 from the sale of 4,676,668 units at a price of $0.15 per unit (the “Unit”).

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 $0.20 per share for a period of five (5) years from the closing of the Offering.

All securities issued as a result of this Offering are subject to a statutory hold period. There are no finder’s fees payable in connection with this Offering. This Offering is subject to exchange approval.

The proceeds of the Offering will be used for exploration activities at the Company’s projects in Western Mali and general working capital.

The Company also announces that it has amended the exercise price of its stock options announced on May 2, 2018 from $0.19 to $0.25.

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, April 26, 2018. Desert Gold Ventures Inc. (“Desert Gold” or “the Company”) (TSX.V: DAU, FF: QXR2, OTC: DAUGF) announces that, subject to exchange approval, it will conduct a non-brokered private placement of up to 4,333,334 units at a price of CDN $0.15 per unit (the “Unit”) to raise up to an aggregate CDN $650,000 (the “Financing”).

Each Unit will consist of one common share in the equity of the Company 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 $0.20 per share for a period of Five (5) years from the closing of the Financing.

The proceeds of the Financing will be used for exploration activities at the Company’s projects in Western Mali and general working capital purposes. The Company may pay finder’s fee to qualified finders in respect to the Financing. Securities issued as a result of the Financing will be subject to a statutory hold period. .

The Company will complete a portion of the Financing pursuant to the conditions described in Multilateral CSA Notice 45-318 Prospectus Exemption for Certain Distributions through an Investment Dealer ("CSA 45-318") and the corresponding instruments, orders and rules implementing CSA 45-318 in the participating jurisdictions (collectively with CSA 45-318, the "Investment Dealer Exemption"). In addition to conducting the Financing pursuant to the Investment Dealer Exemption, the Company will also accept subscriptions for units where other prospectus exemptions are available, including from accredited investors. In accordance with the Investment Dealer Exemption, the Company advises that, as at the date hereof, there is no material fact or material change in respect of the Company that has not been generally disclosed. The Company further advises that there is no minimum number of units being offered pursuant to the Financing.

“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 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, March 26, 2018. Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FF: QXR2, OTC: DAUGF) announces, further to its news release of March 19, 2018 that the Company has closed the first tranche (the “First Tranche”) of its non-brokered private placement of up to 4,000,000 units at a price of CDN $0.25 per unit (the “Unit”) to raise up to an aggregate of CDN $1,000,000 (the “Financing”). The Company has raised proceeds of $538,187 through the sale of 2,152,750 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 $0.30 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 $0.60 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 expiring on July 27, 2018. In connection with closing the First Tranche the Company paid finder’s fee consisting of a cash fee of $3,000 and 12,000 non –transferable brokers warrants on the same terms as the warrant terms set out above.

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

Certain directors 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.

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, February 15, 2018. Desert Gold Ventures Inc. (“Desert Gold” or “the Company”) (TSX.V: DAU, FF: QXR2, OTC: DAUGF) is pleased to announce that drilling has begun on its Farabantourou project located in western Mali.

Highlights

Desert Gold's initial drill program will focus on three target areas including Barani East, Barani and Keniegoulou. The drill program plans for 31 holes consisting of 780 meters diamond drilling and 3,265 meters of RC drilling. A summary of the prospects to be drilled follows:

✓    Barani East Prospect

  • Past drilling returned intercepts up to 7.8 g/t gold over 10meters
  • Four moderate to steep east-dipping lenses ranging in width from 4.5 meters to 15 meters
  • The mineralized zones have approximately 550 meters of strike and may be open along strike anddepth
  • Potential for additional parallel zones with mineralized intercepts up to 2.22 g/t gold over 20 metres will be tested and followedup.

✓    Barani Prospect

  • Drilling returned intercepts of 2.19 g/t gold over 9meters
  • The prospect is subparallel and proximal to the Mali-Senegal Shear Zone (MSSZ), along which the World Class gold mines of Sadiola, Loulo-Gounkoto complex and Fekola aresituated.
  • The gold mineralization is contained in several lenses and has been traced over an approximate strike of 1,900meters
  • The mineralization is open along strike anddepth

✓    Keniegoulou Prospect

  • Drilling returned intercepts of 5.92 g/t gold over 4meters
  • This prospect is close to and subparallel to the MSSZ on the southern strike extension of the Barani Propsect
  • This zone comprises 5 lenses of gold mineralization traced over approximately 1,500 meters
  • The mineralization is open ended along strike anddepth

021518 figure1

Figure 1: Locality plan of the Farabantourou Prospects with historic drill results

Desert Gold holds two gold Exploration Permits (Farabantourou and Segala Ouest) within the Kenieba Birimian Inlier of Western Mali. The Farabantourou project lies 40 km to the south of Anglo Gold’s Sadiola gold mine and 50 km north of Randgold’s Loulo-Gounkoto complex of gold mines.

021518 figure2

*Figure 2: Location of Desert Gold’s Segala Ouest and Farabantourou exploration permits in western Mali

Jared Scharf, Desert Gold’s President commented, "This drill program is focussing on our Farabantourou property which straddles the Mali-Senegal Shear Zone which hosts, in the management’s opinion, some of the best gold deposits in the world combining high grade, multimillion ounce reserves and low mining costs. After an extended period of inactivity we are very excited to be actively developing this target again.”

This note was reviewed by Dr. Luc Antoine who is a director of the Company and is registered as a Member of the Geological Society of South Africa (MGSSA 967397). He approves the scientific and technical disclosure in the news release and has the necessary experience relevant to the style of mineralization and types of deposits under consideration and to the activity as a Qualified Person as defined in the National Instrument 43-101.

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 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.

* 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.