News Releases

Delta, British Columbia, May 7, 2020 Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FF: QXR2, OTC: DAUGF) is pleased to announce that it has received final TSXV approval to close its previously announced CAD $500,000 non-brokered private placement (the “Financing) The Company raised CAD $1,283,000 through the sale of 16,037,500 Units.  Securities issued as a result of closing of the Financing will be subject to a statutory hold period of four months from closing.

Pursuant to the terms of the Financing, each Unit was priced at CAD $0.08 and consists of one common share in the equity of the Company and one-half common share purchase warrant (a “Warrant”).  Each full Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.15 per share for a period of three (3) years from the closing of the Financing. In connection with closing, the Company will pay finders’ fees of CAD $47,390 and issue 592,375 non-transferable brokers warrants (a “Broker Warrant”). Each Broker Warrant entitles the holder to purchase one common share of the Company at a price of $0.15 for a period of three (3) years.

Certain directors of the Desert Gold have participated in the Financing and are considered “related parties” to the Company under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”).

The Financing is 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 those directors will exceed 25% of the Company’s market capitalization.

The proceeds of the Financing will be used for drilling and other exploration related activities at the Company’s Senegal Mali Shear Zone Project in Western Mali (“SMSZ Project”) and for general corporate purposes.

On Behalf of the Board

“Jared Scharf”
___________________________
Jared Scharf
President & Director

About Desert Gold

Desert Gold Ventures Inc. is a gold exploration and development company which holds 2 gold exploration permits in Western Mali (SMSZ Project and Djimbala)  and its Rutare gold project in central Rwanda. For further information please visit www.SEDAR.com under the company’s profile. Website: www.desertgold.ca 

Contact

Jared Scharf, President and CEO
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

This news release contains forward-looking statements. 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. These uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of gold; operational, funding, liquidity risks, the degree to which mineral resource estimates are reflective of actual mineral resources, the degree to which factors which would make a mineral deposit commercially viable, and 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 28, 2020.  Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FF: QXR2, OTC: DAUGF) announces the postponement of filing its annual financial statements (“Financial Statements”) and its annual management's discussion & analysis (“MD&A”) for the year ended December 31, 2019 due to logistics and delays caused by the COVID-19. The Company is relying on the British Columbia Securities Commission (the “Commission”) blanket order BCI 51-515 (the “Blanket Order”) for temporary exemption from certain corporate finance requirements.

Recent events pertaining to COVID-19 has impacted the Company and its employees and its auditors’ ability to rely on timely information and to prepare its Financial Statements and MD&A. According to the Blanket Order, during the period from March 23, 2020 to June 1, 2020 a person or company required to make certain filings as described in the Blanket Order has an additional 45 days from the deadline otherwise applicable under British Columbia securities laws to make the filing according to certain disclosure obligations by the Company. Pursuant to the Blanket Order, the Company is relying on the relief therein for its Financial Statements required by section 4.2 of National Instrument 51-102 and its MD&A required by subsection 5.1(2) of National Instrument 51-102.

Until the Company has filed and announced the required Financial Statements and MD&A, all management and other insiders are subject to the Company’s share trading and black-out policy that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.

The Company estimates that the required disclosure required by British Columbia securities laws will be filed no later than June 12, 2020. There have been no unreported material business developments since the date of the last interim financial statements were filed on November 29, 2019 

ON BEHALF OF THE BOARD

“Jared Scharf”
Chief Executive Officer

+1 (604) 357 4726

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, April 27, 2020 Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FF: QXR2, OTC: DAUGF) announces that in relation to its press release dated April 27, 2020, the Company paid total finders fees of CAD $47,390 and 592,375 finders warrants.

On Behalf of the Board

“Jared Scharf”
___________________________
Jared Scharf
President & Director

About Desert Gold

Desert Gold Ventures Inc. is a gold exploration and development company which holds 2 gold exploration permits in Western Mali (SMSZ Project and Djimbala)  and its Rutare gold project in central Rwanda. For further information please visit www.SEDAR.com under the company’s profile. Website: www.desertgold.ca

Contact

Jared Scharf, President and CEO
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel. No.: +1 (858) 247-8195

 

This news release contains forward-looking statements. 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. These uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of gold; operational, funding, liquidity risks, the degree to which mineral resource estimates are reflective of actual mineral resources, the degree to which factors which would make a mineral deposit commercially viable, and 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 27, 2020 Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FF: QXR2, OTC: DAUGF) is pleased to announce that it has closed its previously CAD $500,000 non-brokered private placement (the “Financing) The Company raised CAD $1,283,000 through the sale of 16,037,500 Units.  Securities issued as a result of closing of the Financing will be subject to a statutory hold period.

Pursuant to the terms of the Financing, each Unit was priced at CAD $0.08 and consists of one common share in the equity of the Company and one-half common share purchase warrant (a “Warrant”).  Each full Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.15 per share for a period of three (3) years from the closing of the Financing. In connection with closing, the Company will pay finders’ fees of CAD $46,550 and issue 581,875 non-transferable brokers warrants (a “Broker Warrant”). Each Broker Warrant entitles the holder to purchase one common share of the Company at a price of $0.15 for a period of three (3) years.

Desert Gold’s CEO Jared Scharf commented, “We were encouraged by the strong market support for this financing as the macroeconomic setting for gold continues to improve. The oversubscribed placement will allow us to do additional exploration work over several high priority targets at our roughly 400 km2 Senegal Mali Shear Zone Project. 

The proceeds of the Financing will be used for drilling and other exploration related activities at the Company’s Senegal Mali Shear Zone Project in Western Mali (“SMSZ Project”) and for general corporate purposes. The Financing is subject to final exchange approval.

Exploration Guidance

The planned program will be evenly split between mining camp-scale conceptual targets and high value drill targets that have already been defined. The bulk of the conceptual targeting comprises approximately 10,000 metres of auger drilling on wide-spaced drill fences (1.7 to 4.7 km apart) that will test below laterite-covered areas, proximal to the east side of the Senegal Mali Shear Zone, where regionally, the largest gold deposits have been discovered, including Fekola, Gounkoto, Loulo, to the south along strike, and Sadiola, to the north along strike (see Figure 1). Additional auger holes will test for extensions to gold-bearing hydrothermal breccias and along other mineralized trends that require additional definition. Core and reverse circulation drilling is planned at the Gourbassi East, Gourbassi West and Barani East areas (Figure 2), with all holes targeting extensions to know mineralization, including follow-up of an at surface intercept of 3.52 g/t gold over 33 metres (estimated 28 metres true thickness) at Gourbassi West and down plunge testing of an intercept at Barani East of 6.28 g/t gold over 13 metres (estimated 11 metres true thickness).

Note that this program is subject to work restrictions related to Covid 19 and while, currently, the planned program appears able to proceed, there is no guarantee that operating conditions will not change in the future.

This press release contains certain scientific and technical information. The Company is solely responsible for the contents and accuracy of any scientific and technical information related to it. Don Dudek, P.Geo a director of Desert Gold and a Qualified Person under National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this press release.

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Figure 1 – SMSZ Project Location, Regional Geology and Major Deposits in Western Mali and Eastern Senegal

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Figure 2 – SMSZ Project on Color-Contoured Magnetic base with major zones and soil anomalies

On Behalf of the Board

“Jared Scharf”
___________________________
Jared Scharf
President & Director

About Desert Gold

Desert Gold Ventures Inc. is a gold exploration and development company which holds 2 gold exploration permits in Western Mali (SMSZ Project and Djimbala)  and its Rutare gold project in central Rwanda. For further information please visit www.SEDAR.com under the company’s profile. Website: www.desertgold.ca 

Contact
Jared Scharf, President and CEO
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel. No.: +1 (858) 247-8195

 

This news release contains forward-looking statements. 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. These uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of gold; operational, funding, liquidity risks, the degree to which mineral resource estimates are reflective of actual mineral resources, the degree to which factors which would make a mineral deposit commercially viable, and 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 14, 2020. 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 6,250,000 units at a price of CAD $0.08 per unit (the “Unit”) to raise up to CAD $500,000 (the “Financing”). Each Unit will consist of one common share in the equity of the Company and one half common share purchase warrant (the “Warrant”).  Each full Warrant entitles the holder to purchase one additional common share of the Company at a price of CAD $0.15 per common share for a period of three (3) years from the closing of the Financing.

Desert Gold’s CEO Jared Scharf commented, “With the gold market continuing to strengthen, we feel it is time to re-initiate our funding efforts. We chose to competitively price this raise and give priority to those that have supported and followed our evolving story before and during the recent market turmoil. A portion of these funds will be earmarked for auger drilling and continued mapping. Both activities will likely further highlight the potential for the discovery of a material gold deposit at our Senegal Mali Shear Zone Project. The auger drilling, specifically, will test below those laterite covered areas proximal to the east side of the Senegal Mali Shear Zone, where regionally, the largest gold deposits have been discovered to date, including Fekola, Gounkoto and Loulo to the south along strike and Sadiola to the north along strike. In addition to the aforementioned activities and subject to funding availability, diamond, air-core and RC drilling is also planned at the known zones Gourbassi East and West, Barani East and Soa where targets have already been defined.”

The proceeds of the Financing will be used primarily for drilling at the Company’s flagship Senegal Mali Shear Zone Project (the “SMSZ Project”) in Western Mali (see Figure 1. below) and for general working capital purposes. The Company may pay a finder’s fee to qualified individuals in respect to the Financing.  Securities issued as a result of the Financing will be subject to a statutory hold period. 

This press release contains certain scientific and technical information. The Company is solely responsible for the contents and accuracy of any scientific and technical information related to it. Don Dudek, P.Geo a director of Desert Gold and a Qualified Person under National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this press release.

Figure 1.  Senegal Mali Shear Project Property Scale Compilation Map*

*All gold grades over width, with the exception of the Soa prospect, represent drill holes with the true widths, for most holes, ranging from 70 to 95%. **The Soa Prospect true widths are unknown. Estimated true widths for the Berola Prospect are unknown. True widths at the Gourbassi Zones are estimated to range from 60% to 90%.

NR Apr 14 

ON BEHALF OF THE BOARD

“Jared Scharf”
___________________________
Jared Scharf
President & CEO

ABOUT DESERT GOLD
Desert Gold Ventures Inc. is a gold exploration and development company which holds 2 gold exploration permits in Western Mali (SMSZ Project and Djimbala)  and its Rutare gold project in central Rwanda. For further information please visit www.SEDAR.com under the company’s profile. Website: www.desertgold.ca

CONTACT
Jared Scharf, President & CEO
Email: This email address is being protected from spambots. You need JavaScript enabled to view it. 

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.