OTC Pink: Daugf Desert GOLD Options Non-Core Djimbala Property IN Southern Mali to Indigo
For Immediate Release
TSX.V: DAU
Frankfurt: QXR2
OTC Pink: DAUGF
DESERT GOLD OPTIONS NON-CORE DJIMBALA PROPERTY IN
SOUTHERN MALI TO INDIGO
Delta, British Columbia, April 13, 2020. Desert Gol d Ventures Inc. (the “ Company ”) (TSX-
V: DAU) announces that it has signed an Option Agre ement with Indigo Exploration Inc. for a
100% interest in its 100 square kilometre Djimbala Permit in southern Mali, West Africa. The
Djimbala Permit lies immediately east of Hummingbird’s 0.7 million oz Au Komana gold mine 1,
21 kilometres north, along strike, of the Kodieran Mine and 28 kilometres north, along strike,
from Endeavour’s high grade 3.3 million oz Au Kalana gold project 2.
Djimbala Permit is located in southern Mali, West Africa, 220 km south of the capital of Bamako
and covers a 100 km 2 area. The permit is situated in the Yanfolila gold belt and is surrounded by
a significant number of gold deposits, mines and pr ospecting permits. The bulk of the permit has
not been explored. Two small soil sampling campaign s and a limited artisanal pit sampling
program were completed by Desert Gold over parts of the permit with positive Au anomalies
coinciding with possible favourable mineralized str uctures. Four north-south trending gold-in-
soil anomalies were defined, reflecting the regiona l structural trend. These soil anomalies also
appear to correspond to the southern extension of m ineralized zones drilled by Gold Fields
immediately north of the Djimbala Permit. To date, several active artisanal workings were
located during the soil campaigns, confirming Au mineralization.
Jared Scharf, President & CEO states, "With Desert Gold’s primary focus on its flagship Senegal
Mali Shear Zone Project, we feel it’s a sensible de cision to option out the Djimbala Property to
Indigo. This allows us to focus our resources on th e SMSZ Project. At the same time, it is
important for exploration to scale up at Djimbala o n a timely basis. This transaction will ensure
that this happens. Desert Gold looks forward to bec oming an Indigo shareholder, and by proxy,
realize additional potential value for our sharehol ders via this transaction and also through their
exploration properties in Burkina Faso. We look forward to Indigo advancing the potential of the
Djimbala Property for the benefit of both our shareholders and the country of Mali.”
1 Hummingbird Komana gold resource; 0.7 million oz Au probable reserves category (2015)
https://hummingbirdresources.co.uk/operations-projects/mali/
2 Endeavour Kalana gold resource; 3.3 million oz Au measured & indicated (2020)
https://www.endeavourmining.com/our-portfolio/Kalana-Project/default.aspx
DJIMBALA TRANSACTION
The Company has signed a four-year Option Agreement with Indigo, whereby Indigo can
acquire up to 100% interest in the Djimbala Permit by the issuance of shares and completing
work. Upon completing a positive title opinion and financing of at least $500,000, Indigo would
make a share issuance to Desert Gold equivalent of $50,000 of Indigo common shares at a
deemed price of 5 cents per share, and three subsequent share issuances over three years totalling
$300,000 at a deemed price equal to the volume weig hted average price (“VWAP”) for the prior
10 day trading period. With work expenditures of CA D $400,000, Indigo would earn 51% in the
permit and with an additional CAD $600,000 work exp enditure, Indigo would earn 100%
interest in the permit, subject to a 2% net smelter royalty (“NSR”) in favour of Desert Gold,
where 1% NSR could be bought out at any time for USD $1 million by Indigo.
This press release contains certain scientific and technical information. The Company is solely
responsible for the contents and accuracy of any scientific and technical information related to it.
Don Dudek, P.Geo a director of Desert Gold and a Qu alified Person under National Instrument
43-101, has reviewed and approved the scientific an d technical information contained in this
press release.
ABOUT DESERT GOLD
Desert Gold Ventures Inc. is a gold exploration and development company that holds 2 gold
exploration projects in Western Mali (SMSZ and Djim bala) and its Rutare gold project in central
Rwanda. The Company’s current focus is its 391 km 2 SMSZ Project that spans approximately 38
km of the prolific Senegal Mali Shear Zone.
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 2 gold
exploration permits in Western Mali (SMSZ Project and Djimbala) and its Rutare gold project in
central Rwanda. For further information please visi t 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 statemen ts 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 stat ements, including the inability of the Company to s uccessfully complete the Offering. These
uncertainties and risks include, but are not limite d to, the strength of the capital markets, the pric e of gold; operational, funding, and liquidity
risks; the degree to which mineral resource estimat es 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 Company assumes no obligation to update any forwar d-
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 consti tute an offer to sell or a solicitation of an
offer to buy the securities described herein in the United States. The securities described herein hav e not been and will not be registered under
the united states securities act of 1933, as amende d, and may not be offered or sold in the united sta tes or to the account or benefit of a U.S.
person absent an exemption from the registration requirements of such act.