DESERT GOLD VENTURES - DAUGF STOCK NEWS

Desert Gold Ventures has announced results from its Q2 2024 Phase 2 drill program at the SMSZ Project in Mali. The 3,892-meter program across 65 holes revealed significant gold intersections, including 6.35 g/t Au over 9.5 metres at Frikidi and 3.81 g/t Au over 2.7 m at Mogoyafara South. The company aims to exceed 2 million ounces in gold mineral resources, with current drilling extending known zones and discovering new mineralization. A PEA is expected in early 2025, with ongoing metallurgical testing at Barani East, Gourbassi West, and Gourbassi West North deposits.

Desert Gold Ventures has successfully concluded its warrant exercise incentive program, raising CAD $1,258,286 through the exercise of 15,728,571 Eligible Warrants at $0.08 per Common Share. The program participants received an equal number of Incentive Warrants, exercisable at $0.08 for three years. The funds will support the development of the company's SMSZ Gold Project in West Mali and general working capital. Insiders participated in 5.02% of the total Eligible Warrants exercised. The new Incentive Warrants include an acceleration clause if shares trade at or above $0.20 for ten consecutive days.

Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) has announced an update to its warrant exercise incentive program. The program aims to encourage the exercise of up to 28,438,688 unlisted common share purchase warrants issued on December 21, 2022. Each eligible warrant can be exercised for one common share at $0.08 per share.

The company is offering an inducement to warrant holders who exercise during the early exercise period from October 7, 2024 to November 6, 2024. The inducement consists of one new warrant for each eligible warrant exercised. The new warrants will be exercisable at $0.08 for 3 years, with an accelerated expiry clause if the company's shares trade at or above $0.20 for 10 consecutive trading days.

The program aims to fund working capital and is subject to TSX Venture Exchange approval. Insider participation is to 10% of total eligible warrants.

Desert Gold Ventures Inc. (TSXV: DAU) (OTCQB: DAUGF) has announced a warrant exercise incentive program to encourage the exercise of up to 48,235,326 unlisted common share purchase warrants. The program offers an inducement to warrant holders who exercise during an early exercise period, consisting of one new warrant in addition to the common share subscribed for. Each new warrant is exercisable at $0.08 for 3 years, with an accelerated expiry if the company's shares trade at or above $0.20 for 10 consecutive trading days.

The company expects to receive gross proceeds of up to $3,858,826.08 if all eligible warrants are exercised. This will fund exploration and development work at the company's flagship SMSZ Project in western Mali. The early exercise period will commence one day after receiving TSX Venture Exchange conditional approval and extend for 4 weeks.

Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) has provided an update on its Preliminary Economic Assessment (PEA) for the SMSZ Project in western Mali. Key highlights include:

1. Assay results from 12 metallurgical drill holes, with notable intersections:

• 3.54 g/t Au over 10.15 metres at Barani East
• 6.62 g/t Au over 12 metres at Gourbassi West

2. Three composite metallurgical samples sent to a lab in South Africa

3. Drone survey completed over potential mining areas

4. An initial resource estimate to be prepared for Gourbassi West North

The company aims to complete the PEA as soon as possible, with heap leach metallurgical test work expected to take at least 3 months.

Desert Gold Ventures has announced the granting of 3,300,000 incentive stock options to its directors, officers, employees, and consultants. These options are exercisable at CAD $0.08 per share and will expire five years from the date of grant. This move aligns with the Company’s Stock Option Plan, aiming to motivate and retain key personnel.

Desert Gold Ventures has completed a non-brokered private placement, raising CAD $941,920 through the issuance of 13,456,000 units at CAD $0.07 per unit. This, combined with a prior financing round, brings the total funds raised to CAD $2,061,440. Each unit includes one common share and one share purchase warrant, allowing the purchase of an additional share at CAD $0.08 for three years. The funds will be used for drilling projects at the Mogoyafara South Deposit and the southeast extension of the Barani East Deposit, as well as four nearby exploration targets.

Desert Gold Ventures has initiated the second phase of its 2024 exploration drilling program at the SMSZ Project in Mali. The program will cover 3,750 meters and target extensions to known gold zones at Mogoyafara South, Barani East, and other areas. The company aims to identify new gold zones and extend existing ones. CEO Jared Scharf is optimistic about discovering additional gold resources. The project includes testing high-priority gold-in-auger anomaly areas and conducting a Preliminary Economic Assessment (PEA) study on the oxide gold resources at Barani East and Gourbassi West. Key technical updates include details on mineral resources and gold recovery rates at various deposits.