Mr. Jared Scharf reports

DESERT GOLD ANNOUNCES NON-BROKERED PRIVATE PLACEMENT AND CAD $910,000 IN LEAD ORDERS

Subject to exchange approval and the right to increase the offering, Desert Gold Ventures Inc. will conduct a non-brokered private placement of up to 13 million units at a price of seven cents per unit to raise up to $910,000. Lead orders from this round of funding combined with its recently closed financing (see company press release dated March 26, 2024) have secured a total of $2,029,520 in aggregate proceeds for the company in the last 30 days.

Each unit will consist of one common share in the equity of the company and a 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 company may pay a finder's fee to qualified individuals in respect to the financing. Securities issued from the Financing will be subject to a statutory hold period.

The company intends to close the initial $910,000 in lead orders upon exchange approval. Due to additional interest in the financing, the company may upsize and extend the close of its offering in the coming days.

The proceeds of the financing will be used primarily to complete additional reverse circulation and air core drilling over the Mogoyafara South deposit and the southeast extension of the Barani East deposit. Drilling will also be completed over four nearby exploration target areas: Frikidi, Soa/Soa South, Kolon and Keniebandi. Holes drilled over the Mogoyafara South deposit (12.29 million tonnes containing 412,800 ounces of gold) will focus on testing the extension of known gold zones and validation of the resource wire frame modes. Air core holes planned over the southeast extension of the Barani East deposit will test the continuity of the oxide gold zones, which will in turn, support the company's continuing PEA (preliminary economic assessment). Holes drilled over the exploration target areas will follow up on previously released drill intercepts (to 2.04 grams per tonne Au (gold) over 30 metres at Soa) and select gold-in-auger anomalies.

Should any directors and officers of the company acquire units under the financing such participation is a related party transaction as defined under Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions (MI 61-101). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 if neither the fair market value of any securities issued to or the consideration paid by such persons will exceed 25 per cent of the company's market capitalization.

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 which controls the 440-square-kilometre SMSZ project in Western Mali containing measured and indicated mineral resources of 8.47 million tonnes grading 1.14 g/t gold totalling 310,300 ounces and inferred mineral resources of 20.7 million tonnes grading 1.16 g/t gold totaling 769,200 ounces.

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