Mr. Jared Scharf reports

DESERT GOLD CLOSES NON-BROKERED PRIVATE PLACEMENT

Desert Gold Ventures Inc. has closed its non-brokered private placement and issued a total of 15,993,142 units at a price of seven cents per unit, raising gross proceeds of $1,119,520. The financing is subject to final acceptance for filing by the TSX Venture Exchange. Securities issued pursuant to the financing are subject to a statutory hold, which expires on July 13, 2024, as to 8,847,142 units, and on July 21, 2024, as to 7,146,000 units.

Each unit consists of one common share in the equity of the company and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the company at a price of eight cents per common share for a period of three years from the closing of the financing.

The proceeds of the financing will be used to finance a preliminary economic assessment that will focus on the heap leach extraction of gold from open-pit constrained oxide and transition mineral resources at its Barani East and Gourbassi West gold deposits.

A director of the company participated in the financing and indirectly acquired 1,428,571 units for a total investment of $100,000. The director's participation constitutes a related-party transaction as defined under Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the units issued to, nor the consideration paid by, the director exceeds 25 per cent of the company's market capitalization. The company did not file a material change report more than 21 days before the expected closing of the financing as the date of closing was not previously known.

About Desert Gold Ventures Inc.

Desert Gold is a gold exploration and development company which holds two gold exploration permits in western Mali (SMSZ project and Djimbala) and its Rutare gold project in central Rwanda.

We seek Safe Harbor.