Mr. Jared Scharf reports

NEW 2,680 PPB GOLD-IN-AUGER VALUE HIGHLIGHTS ADDITIONAL POTENTIAL FOR EXPANSION OF DESERT GOLD'S MOGOYAFARA SOUTH GOLD DEPOSIT IN WESTERN MALI

Gold Ventures Inc. has presented new gold-in-auger exploration targets on its SMSZ project. The untested auger anomalies lie under shallow laterite cover proximal to the company's 413,000-ounce Mogoyafara South gold deposit (see Jan. 17, 2022, Desert Gold news release).

Desert Gold's 440-square-kilometre SMSZ project is both named after and overlies a 43-kilometre section of the prolific Senegal Mali shear zone (SMSZ). The Senegal Mali shear zone is related to seven gold deposits located both to the north and south, along strike of the company's SMSZ project, including B2 Gold's Fekola mine, Barrick's Gounkoto and Loulo mines, and Allied Gold's Sadiola and Yatela mines. To the company's knowledge, the SMSZ project is the largest, contiguous, non-producer land package over this highly prospective structural feature.

In February, 2023, Desert Gold completed 445 auger holes totalling 2,067 metres over the Mogoyafara South deposit area and the Kousilli West concession in the northwesternmost portion of the property. All gold-in-auger values in excess of 50 parts per billion are considered anomalous, with gold-in-auger values in excess of 100 parts per billion considered high priority. This program resulted in the discovery of an exceptional auger hole that returned a gold value of 2,680 parts per billion within a 100-metre-wide area of anomalous gold-in-auger values. These anomalous auger values lie along trend of an approximately 1,000-metre-long north-northwest trend of gold-in-soil values linking up with the westernmost lens of the Mogoyafara South deposit. This highlight gold-in-auger anomaly lies about 800 metres south of the limits of the 413,000-ounce Mogoyafara South deposit. An additional trend of strong, gold-in-auger anomalies, to 569 parts per billion gold, were returned on three auger lines, with the first anomaly approximately 200 metres east of the northern portion of the deposit to 800 metres north of the deposit area. This approximately one-kilometre-long anomalous trend lies along the interpreted location of the Mali Senegal shear zone. A third anomalous, 800-metre-long trend, with gold-in-auger values to 121 parts per billion, is developing along a prominent northeast-trending magnetic feature located approximately 1.2 kilometres southwest of the Mogoyafara South deposit. A fourth, strong, 395-part-per-billion gold-in-auger intercept lies approximately 1,300 metres southwest of the deposit. An additional eight anomalous gold-in-auger values in excess of 50 parts per billion were returned from the Mogoyafara South deposit area during this most recent program.

Two long lines and three short lines of auger drilling were completed over the Kousilli West concession to cover part of a nine-kilometre-long, anomalous gold-in-soil trend. The best auger results were returned from the northernmost line, with values to 250 parts per million gold with five of seven drill sites, across a 150-metre-wide area, returning greater than 50-part-per-billion gold values. Five additional, widely spaced sites returned greater than 50 parts per billion gold.

Jared Scharf, president and chief executive officer of Desert Gold Ventures, commented: "As expected, the new auger results support our belief that there is significant potential for the discovery of new lenses of gold mineralization near the Mogoyafara South deposit and along trend, north of the Gourbassi West North zone. This target model has worked to great effect at the SMSZ project as evidenced by the testing of slightly weaker gold-in-auger anomalies that resulted in the discovery of several new gold zones, including the Gourbassi West North zone, with intercepts to 1.08 grams per tonne gold over 124 metres. Next steps will be to follow up with drilling on these new high-priority auger targets as soon as possible."

Next steps

Drill testing of these new gold-in-auger anomalies and other previously proposed drill targets will be carried out as soon as possible.

Quality assurance/quality control

All auger samples are delivered to SGS in Bamako, Mali, where they are prepped, pulverized and subjected to fire assay analysis. Standards, assay blanks or sample duplicates are inserted into the assay stream every 20 samples. All assay batches are reviewed for quality, with reassays requested for standards that assay more than two to three standard deviations from an accepted value and for blanks that contain more than 10 parts per billion gold.

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, PGeo, a director of Desert Gold and a qualified person under National Instrument 43-101, has reviewed and approved the scientific and technical information contained in this press release.

About Desert Gold Ventures Inc.

Desert Gold Ventures is a gold exploration and development company that controls the 440-square-kilometre SMSZ project in western Mali containing measured and indicated mineral resources of 8.47 million tonnes grading 1.14 grams per tonne gold totalling 310,300 ounces and inferred mineral resources of 20.7 million tonnes grading 1.16 grams per tonne gold totalling 769,200 ounces.

We seek Safe Harbor.