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Desert Gold Announces Extension of Its Non-Brokered Private Placement

SURREY, BC / ACCESSWIRE / February 24, 2017 / Desert Gold Ventures Inc. (DAU.V) (QXR2.F) (OTC PINK: DAUGF) ("Desert Gold" or "the Company") announces that it has received consent from the Toronto Venture Stock Exchange ("TSX-V") to extend the closing of its non-brokered private placement, initially announced November 22, 2016 to March 10, 2017. The financing consists of up to 4,000,000 units at a price of CAD$0.25 per unit (the "Unit") to raise up to an aggregate CAD$1,000,000 (the "Financing").

Each Unit will consist of one common share in the equity of the Company and one share purchase warrant (the "Warrant"). Each Warrant shall entitle the holder to purchase one additional common share of the Company at a price of CAD$0.30 per share for a period of five (5) years from the closing of this Financing. Warrants will be subject to a thirty (30) day acceleration 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. There may be a finder's fee payable for the Financing. Securities issued as a result of the Financing will be subject to a statutory hold period. The Financing is subject to the TSX-V approval.

ON BEHALF OF THE BOARD

"Jared Scharf"
Jared Scharf
Director and President
(604) 245-6802

For further information, please visit our website www.desertgold.ca, or find information available on www.SEDAR.com under the company's profile.

Certain statements contained in this release may constitute "forward-looking statements" or "forward-looking information" (collectively "forward-looking information") as those terms are used in the Private Securities Litigation Reform Act of 1995 and similar Canadian laws. These statements relate to future events or future performance. The use of any of the words "could," "intend," "expect," "believe," "will," "projected," "estimated," "anticipates," and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the business of the Company, the Property, financing and certain corporate changes. The forward-looking information contained in this release is made as of the date hereof and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events, or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties, and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

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.

SOURCE: Desert Gold Ventures Inc.