TORONTO, ONTARIO--(Marketwire -08/28/12)- Desert Gold Ventures Inc. (DAU.V) (the "Company" or "Desert Gold") is pleased to announce that it has entered into a consulting agreement (the "Agreement") with FronTier Consulting Ltd. ("FronTier"), an independent consulting firm that provides financial market consulting services, who will act as an advisor to the Company with respect to select financial market initiatives and programs. Under the terms of the Agreement, FronTier will receive compensation of $4,500 per month for a term of six months, after which time the monthly fee will be $3,500 per month and the Agreement can be terminated on ten days' notice. FronTier will also receive 87,500 options at an exercise price of $0.40 per share (the "Options"); the Options will vest in four equal tranches at three, six, nine and twelve months while the Agreement is in effect and will expire two years from the date of grant, subject to an acceleration clause. The Agreement is subject to approval by the TSX Venture Exchange.
About FronTier Consulting Ltd.
FronTier Consulting Ltd. is a full service independent financial market consulting firm. FronTier provides a wide range of services to its clients including assessing clients' market needs and providing necessary solutions. It is focused on establishing lasting and valuable long term relationships with clients and the financial community and is constantly uncovering innovative and dynamic ways to increase value to clients.
About Desert Gold
Desert Gold Ventures Inc. is an advanced exploration and development company which holds mining assets in Mali, Rwanda, Senegal and a 50% participating interest in a joint venture agreement with Kinross Goldbanks Mining Company (a subsidiary of Kinross Gold Corporation) of Toronto, Ontario in respect of the Goldbanks Mining property located in Pershing County, Nevada, USA.
For further information concerning Desert Gold Ventures Inc. and the TransAfrika material properties, please refer to Desert Gold's SEDAR profile at www.sedar.com or visit our website at www.desertgold.ca.
Jared Scharf, CFO
This press release includes certain "forward-looking statements". There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. All statements that are not historical facts, including without limitation statements regarding future estimates, plans, objectives, assumptions or expectations of future performance, are "forward-looking statements". We caution you that such "forward looking statements" involve known and unknown risks and uncertainties that could cause actual results and future events to differ materially from those anticipated in such statements. Such risks and uncertainties include risk factors as discussed in the Company's filings with Canadian securities regulatory agencies. The Company expressly disclaims any obligation to update any forward-looking statements except as may be 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.