Desert GOLD Closes First Tranche of Non-Brokered Private Placement and Provides Exploration Update
4770 72 Street, Delta, British Columbia | Canada | V4K 3N3 | Office +1 (604) 357 4726 | Fax +1 (604) 592 6882
For Immediate Release
TSX.V: DAU
Frankfurt: QXR2
OTC: DAUGF
DESERT GOLD CLOSES FIRST TRANCHE OF
NON-BROKERED PRIVATE PLACEMENT AND PROVIDES EXPLORATION UPDATE
Delta, British Columbia, June 19 2019. Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FF: QXR2,
OTC: DAUGF) is pleased to annou nce that it has closed a first tranche (the “First Tranche”) of its non -brokered private
placement of up to 15,625,000 units at a price of CDN $0.16 per unit (the “Unit”) to raise up to an ag gregate of CDN
$2,500,000 (the “Financing”). In the First Tranche the Company has r aised proceeds of $1,713,586.58 through the sale
of 10,709,916 Units. Securities issued as a result of closing of this first tranche will be subj ect to a statutory hold per iod.
In connection with closing the First Tranche, the Company paid finder’s fees of $36,785 and issued 229,897 non-
transferable brokers warrants.
Pursuant to the terms of the Financing, e ach 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 $0.24 per share for a period of two (2) years from the closing of the Financing.
The proceeds of the Financing will be used for drilling and other exploration activities at the Company’s Senegal Mali
Shear Zone Project in West ern Mali (“SMSZ Project”) . The Company closed a First Tranche in order to complete
important exploration work before the beginning of the rainy season in Western Mali, which usually begins in early July
and continues through early October. The Financing will remain open until July 7, 2019 due to ongoing investor interest.
Update on Senegal Mali Shear Zone Project 2019 Exploration Program
The next round of exploration has commenced over Desert Gold’s SMSZ Project. This phase of the program will consist
of the following activities (See Figure 1).
- Drilling to further test the 550 -metre long Barani East Zone which returned a recent intercept of 6.28 g/t gold
over 13 metres at approximately 80 metres depth. This target area is open along strike and to depth
- Drilling to test the new Frikidi and Kousilli Zones where recent mapping and sampling returned multiple gold
values in excess of 100 g/t gold
- Drilling to follow up on the KE Zone where previous work returned up to 5.89 g/t gold over 8 metres
- Drilling to follow-up on validated, gold-in-soil anomalies of greater than 200 ppb gold
- Approximately 8,000 metres of auger drilling to develop targets in a laterite -covered, conceptual target area
where three mineralized zones appear to intersect
- Initiate the process of re -modelling the Gourbassi East and West Deposits, which have returned significant
amounts of gold mineralization. Once the modelling is updated, drilling will be carried out to validate the new
model in Q4, 2019
4770 72 Street, Delta, British Columbia | Canada | V4K 3N3 | Office +1 (604) 357 4726 | Fax +1 (604) 592 6882
Figure 1. Senegal Mali Shear Zone Project Map
QA/QC Procedures
All grab samples were geologically described following Desert Gold’s established standard operating procedures. For
grab sampling, all individual samples represent approximately 2-3 kilograms that is sent for preparation and gold assaying
at the SGS laboratories in Bamako, Mali. Each sample is fire -assayed for gold by SGS laboratories in Bamako using Au -
4770 72 Street, Delta, British Columbia | Canada | V4K 3N3 | Office +1 (604) 357 4726 | Fax +1 (604) 592 6882
FAA505 method that is a 50g fire assay fusion with AAS instrument finish. In addition to SGS own QA/QC (Quality
Assurance/Quality Control) program, an inter nal quality control and quality assurance program is in place throughout the
sampling program, using blind duplicates (1 :20), blanks (1 :20) an d recognized industry standards (1 :20).
Technical Disclosure
This press release contains certain scientific and technical information of Desert Gold. The Company is solely
responsible for the contents and accuracy of any scientific and technical information disclosure relating to it.
Don Dudek, P.Geo. is a director of Desert Gold and a Qualified Pers on under National Instrument 43- 101, has reviewed
and approved the scientific and technical information contained in this press release.
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 3 gold exploration permits in
Western Mali (Farabantourou, Segala West and Djimbala) and its Rutare gold project in central Rwanda. Furthermore,
Desert Gold is in the process of acquiring a large property package on and near the Senegal Mali Shear zone as part of its
SMSZ project, which is anchored by the Farabantourou Concession. For further information please visit
www.SEDAR.com under the company’s profile. Website: www.desertgold.ca
Contact
Jared Scharf, President and Director
Email: [email protected]
Tel. No.: +1 (858) 247-8195
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 inab ility 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 Com pany 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 Uni ted 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 exe mption from the
registration requirements of such act.