Desert Gold Ventures announces $800K private placement

News Release

Desert Gold Announces Proposed Private Placement

Delta, British Columbia–(Newsfile Corp. – September 11, 2017) – Desert Gold Ventures Inc. (TSXV: DAU) (OTC Pink: DAUGF) (FSE: QXR2) (“Desert Gold” or the “Company”) announces that it intends to raise up to CAD$800,000 (the Offering”) through a non-brokered private placement of up to 3,200,000 units at a price of CAD$0.25 per unit (the “Unit”). Each Unit will consist of one common share and one share purchase warrant (the “Warrant”). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of CDN$0.30 per share for a period of five (5) years from the closing of this Offering. Warrants will be subject to a thirty (30) day acceleration clause upon announcement by the Company that its shares have traded on a volume weighted average basis of CDN$1.00 per common share, or more, for at least ten (10) consecutive trading days.

The proceeds of the Offering will be used for drilling and fieldwork at the Company’s projects in Western Mali and for general working capital. There may be a finder’s fee payable for the Offering. Securities issued as a result of the Offering will be subject to a statutory hold period. The Offering is subject to TSX Venture Exchange approval.

Certain insiders of the Company may subscribe for Units of the Offering. Any such participation would considered to be a related party transaction as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (“MI 61-101”) by virtue of their respective shareholdings being in excess of 10% of the Company’s share capital.

The Offering 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 and Director
Desert Gold Ventures Inc.
+1 (858) 247-8195

For further information please visit our website www.desertgold.ca or information available on www.SEDAR.com under the Company’s profile.