October 5, 2015: Desert Gold Ventures Inc. (TSX-V:DAU/FF:QXR2:/OTC:DAUGF) (“Desert Gold” or the “Company”) reports that, further to its news release of June 12, 2015, as a result of a British Columbia Securities Commission’s (“BCSC”) review, the Company is retracting the previously disclosed preliminary economic assessment ("PEA") which was referred to in its news release of September 17, 2014, as the Company has low confidence in the specific gravity ("SG") estimation. The free dig mining method assumed in the PEA was based on this SG without being supported by geotechnical analysis. In the event that the free dig mining would not be possible, it may result in the economic assessment no longer being viable. Moreover, the economic analysis did not allow for the state’s carried interest.
The Company intends to amend the report titled “A Technical Report on the Barani East Prospect, Kenieba District, Western Mali”, dated September 16, 2014, (the “Amended Report”) to be in compliance with NI 43-101, which Amended Report will be filed on SEDAR when available.
The Company’s previously disclosed mineral resource estimates on the Barani East Prospect should not be relied upon until such time as a NI 43-101 compliant technical report has been prepared which supports the disclosed mineral resource estimates.
Mr. Uwe Engelmann, a qualified person under National Instrument 43-101, has reviewed and approved of this news release.
ON BEHALF OF THE BOARD
Chief Executive Officer
Desert Gold Ventures Inc.
+1 (604) 592 6881
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.