TORONTO, February 15, 2012 - Desert Gold Ventures Inc. (TSX-V: DAU) (the "Company" or "Desert Gold") is pleased to announce that the Company’s updated corporate website is now live. The newly updated website can be accessed at www.desertgold.ca and includes detailed information about the Company’s African projects in Mali, Rwanda, and Senegal; executive management and board member bios; and an overview of the Company’s most recent technical reports and news releases. Interested persons can visit the site to add their names to the mailing list to receive news and information about the Company.
“We’re excited to have the new website available for our shareholders, and for the mineral exploration and investment communities, where visitors can learn more about the Desert Gold story,” said Roeland van Kerckhoven, President & CEO.
The annual general meeting of shareholders was held on January 31, 2012 at the Company’s head office in Vancouver, BC. At the meeting, shareholders voted in favour of motions electing the Company’s nominees for director: Roeland van Kerckhoven, Ayub Khan, Louw van Schalkwyk, Theo Christodoulou, Thomas Tough, and Sonny Janda. Davidson & Company LLP, Chartered Accountants was appointed as the Company’s auditor. The 2012 Desert Gold Stock Option Plan was approved by the shareholders; shareholders also voted in favour of a motion to amend the exercise price of 625,000 stock options previously granted to insiders that have a current exercise price of $1.25. The amended exercise price of options will be reduced to $0.80 per share, with no change in the expiry date of the options.
Under the 2012 Stock Option Plan, the board has granted incentive stock options to certain directors, officers, and consultants of the Company to purchase up to an aggregate total of 3,675,000 common shares at a price of $0.80 per common share. The stock options will vest in four equal tranches at three, six, nine, and twelve months from the date of grant and will be fully vested at such time. The stock options will expire five years from the date of the grant. The 2012 Stock Option Plan and amendment to the exercise price are subject to TSX Venture Exchange acceptance.
Immediately following the AGM, the board of directors appointed the following officers: Roeland van Kerckhoven as President and CEO; Jared Scharf as CFO and Corporate Secretary; and Louw van Schalkwyk as VP Exploration; the board named Ayub Khan as non-executive chairman of the board.
About Desert Gold
Desert Gold Ventures Inc. is an advanced exploration and development company which holds mining assets in Mali, Rwanda, and Senegal, and a 50% participating interest in a joint venture agreement with Kinross Goldbanks Mining Company (a subsidiary of Kinross Gold Corporation of Toronto, Ontario) in respect of the Goldbanks Mining property located in Pershing County, Nevada, USA.
To learn more, visit our website at: www.desertgold.ca
This press release includes certain "forward-looking statements". All statements regarding the ability of the Company to delineate new resources in proposed drilling programs are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include risk factors as discussed in the Company's filings with Canadian securities regulatory agencies. The Company expressly disclaims any obligation to update any forward-looking statements except as may be required by law.
For further information concerning Desert Gold and the TransAfrika material properties, please refer to Desert Gold's SEDAR profile at www.sedar.com, or contact:
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.