Desert GOLD Closes Private Placement
Suite 210, Surrey, British Columbia | Canada | V3T 2X9 | Office +1 (604) 357 4726 | Fax +1 (604) 592 6882
For Immediate Release
TSX.V: DAU
Frankfurt: QXR2
OTC: DAUGF
DESERT GOLD CLOSES PRIVATE PLACEMENT
Surrey, British Columbia, January 13, 2022. Desert Gold Ventures Inc. (the “Company”) (TSX.V: DAU, FSE: QXR2,
OTC: DAUGF) announces that, subject to exchange approval, it has closed its non -brokered private placement
(“Financing”). The Company r aised proceeds of $1,678,696 through the sale of 11,990,693 Units. Securities issued will
be subject to a statutory hold period. In connection with closing, the Company will pay finders fees of $27,410 and will
issue 195,790 non-transferable brokers warrants.
Pursuant to the terms of the Financing, each Unit consists of one common share in the equity of the Company and one-half
share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder to purchase one additional common share
of the Company at a price of CDN $0.25 per share for a period of three (3) years from the closing of the Financing.
Directors and officers of the Company have acquired Units in the Financing. Such participation is considered a related
party transaction as defined under Multilateral Instrument 61- 101 Protection of Minority Security Holders in Special
Transactions (“MI 61-101”). The transaction will be 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 such
persons will exceed 25% of the Company’s market capitalization.
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), its Anumso project in Ghana’s Ashanti Belt and its Rutare gold project in
central Rwanda. For furthe r information please visit www.SEDAR.com under the company’s profile. Website:
www.desertgold.ca
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 a re 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
Suite 210, Surrey, British Columbia | Canada | V3T 2X9 | Office +1 (604) 357 4726 | Fax +1 (604) 592 6882
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.
Contact
Jared Scharf, President and CEO
Email: [email protected]
Tel. No.: +1 (858) 247-8195