Delta, British Columbia--(Newsfile Corp. - March 10, 2017) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTC Pink:
DAUGF) ("Desert Gold" or "the Company") Further to the press release dated November 22, 2016, the Company is pleased to announce
that it has closed its private placement. The Company has sold 1,200,000 units at a price of $0.25 per unit, raising gross proceeds
of $300,000.
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 $0.30 per share for a period of
five (5) years from closing, subject to a thirty (30) day accelerated expiry period, upon announcement by the Company that its
shares have traded on a weighted average of $1.00 per common share, or more, for ten (10) consecutive trading days.
The proceeds of the Financing will be used for general working capital and development purposes at the Company's projects in
Western Mali and Rwanda. There are no finder's fees or commissions related to this private placement. Securities issued resulting
from this private placement will be subject to a statutory hold period. This private placement is subject to approval by TSX
Venture Exchange.
ON BEHALF OF THE BOARD
"Jared Scharf"
Jared Scharf, President
+ 1(858) 247 8195
For further information please visit www.SEDAR.com under the company's profile.
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 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 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
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.
