Desert GOLD Closes Non-Brokered Private Placement
For Immediate Release
TSX.V: DAU
Frankfurt: QXR2
OTCQB: DAUGF
DESERT GOLD CLOSES NON-BROKERED PRIVATE PLACEMENT
Surrey, British Columbia - April 25, 2022 - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2)
(OTCQB: DAUGF) ("Desert Gold" or "the Company") announces that it has received approval from
the TSX Venture Exchange to close its non-brokered private placement (the "Financing").
The Company has received subscription receipts totaling CAD $1,409,000 via the sale of
11,741,667 units at a price of CAD $0.12 per unit (the "Unit"). Each Unit consists of one common
share in the equity of the Company and one common share purchase warrant (the "Warrant"). Each
Warrant entitles the holder to purchase one additional common share of the Company at a price of
CAD $0.18 per common share for a period of two (2) years from the closing of the Financing.
The Company will pay a finder's fee to M. Partners Inc., in the amount of CAD$11,205.60, being 7%
cash on the proceeds of the Units found.
Securities issued as a result of the Financing will be subject to a statutory hold period.
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 and for general working capital purposes.
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: [email protected]
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 su ccessfully 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 uncerta inties 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 o r 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.