Desert Gold Report Results from 3,900 Meter Phase 2 Exploration Drill Program, SMSZ Project, Mali

Surrey, British Columbia--(Newsfile Corp. - November 28, 2024) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTCQB: DAUGF) (the "Company") is pleased to announce results from its 2^nd phase drill program that was carried out in Q2, 2024. A total of 3,892 meters of exploration drilling in 65 holes was completed on its SMSZ Project in Mali, West Africa (see Figure 1 for regional setting).

Company CEO Jared Scharf commented: "During the 2024 work season, the company successfully completed all geotechnical and metallurgical drilling as well as some exploration drilling to advance and enhance our ongoing PEA for the phase 1 mining study at the SMSZ project. The most recent drill results continue to advance the larger exploration goal which is to crack the 2 million ounce gold mineral resource threshold. We look forward to publishing the results of the PEA in early 2025 as well as following up with continued drilling at our best targets."

Highlights of the Phase 2 Exploration Program*

Mogoyafara South – 3.81 g/t Au over 2.7 m from 74.0 m in hole KO-24-DD-001 – 60 m downdip extension

Mogoyafara South – 5.64 g/t Au over 1.9 m from 249.4 m in hole KO-24-DD-001 – new lens

Mogoyafara South – 0.86 g/t Au over 6.7 m from 170.2 m in hole KO-24-DD-002 – known zone

Mogoyafara South – 2.00 g/t Au over 7 m from 25 m in hole KO-24-RC-007 – better than expected

Mogoyafara South – 0.80 g/t Au over 9 m from 93 m in hole KO-24-RC-009 – 35 m downdip extension

Frikidi – 6.35 g/t Au over 9.5 metres in hole FAW-24-DD-001 from 26.9 m, known zone

Frikidi – 0.5 g/t Au over 6.85 metres, 0.5 g/t Au over 3.5 metres and 0.5 g/t over 5.25 m in hole FAW-24-DD-002 from 35.35 m, 65 and 129.5 m, respectively, historic target

Barani Gap – 1.11 g/t Au over 8 m in hole FA-24-AC-059 from 9.0 m

Barani Gap – 0.77 g/t Au over 9 m in hole FA-24-AC-057 from 28 m

New Zone – 3.35 g/t Au over 3 m from 43 m in hole FA-24-AC-047 - Auger anomaly

Kolon – 0.74 g/t Au over 9 m and 1.91 g/t Au over 3 m from 19 m and 33 m, respectively in hole SW-24-AC-021 – 100 m step-out from 3.68 g/t Au over 3 m

* Complete results are presented in Table 1 at end. Estimated true widths are 85-95% of drilled length at Mogoyafara South, 70-85% of drilled length at Kolon and unknown at the 'New' Zone.

Technical Details of the Phase 2 Drill Program

The company tested for extensions of the gold mineralization at Mogoyafara South, Barani Gap, Frikidi, Kolon and Soa Zones (see Figure 2 for locations). Mineral resources have been estimated at Mogoyafara South and Barani East (includes Barani Gap).

Mogoyafara South

The Mogoyafara Deposit comprises an inferred mineral resource of 412,800 ounces grading 1.05 g/t Au**. It consists of at least 56 shallow east- or west-dipping, dominantly sandstone- and felsic intrusion-hosted lenses of gold mineralization within a ~4 km by 1.8km structural window on the west side of the Senegal Mali Shear Zone. Gold mineralization is associated with pyritic, silicified and albitized zones in the host rocks. Generally, the alteration halo is larger than the anomalous gold mineralization.

A total of 11 holes totaling 1,647 m were completed over Mogoyafara South comprising nine RC holes totaling 1,108 metres and 2 oriented core holes totaling 539 metres (see Figure 3). The core holes were designed to both validate and extend mineralization to depth. The RC holes tested for extensions to existing gold lenses, validation of gold mineralization and the testing of new targets. The two core holes intersected wide intervals of silica-albite-pyrite altered sandstone.

A 287-metre-long core hole, KO-24-DD-001, was drilled as an 80 metre stepout, to an in-resource pit hole that returned 1.22 g/t Au over 41 metres. The mineralized zone was intersected where expected but was lower grade and broken up with intercepts of 1.51 g/t Au over 1.2 m, 0.77 g/t Au over 2.9 m and 0.96 g/t Au over 4.7 m. New zones of gold mineralization intersected to depth returned 0.9 g/t over 2.7 m, 5.64 g/t Au over 1.9 m and 1.21 g/t Au over 2.3 m with the latter intercept, 95 metres vertically below the previous gold-bearing intercept on this section. One other intersection of note is a mid-hole intercept of 3.82 g/t Au over 2.7 metres, which is materially better than an intercept on the same lens, located 50 metres to the east.

Core hole KO-24-DD-002, demonstrated good continuity with the previously interpreted gold zones with mix of better and weaker intercepts across the modelled gold-bearing lenses with intersections of 0.71 g/t over 3.4 metres, 0.42 g/t Au over 7.9 metres, 0.86 g/t Au over 7.0 metres and 1.16 g/t Au over 2.6 metres. This hole was drilled within the resource pit outline and will likely result in modest volume additions to the mineralization model.

Of the nine RC holes, intercepts of 2.00 g/t Au over 7 metres in hole KO-24-RC-007 and 1.26 g/t Au over 5 metres in hole KO-24-RC-009, either extended the zone down dip (RC-009) or returned a wider and higher grade intercept than expected (RC-007). Holes KO-24-RC-004, -006 and -008 intersected the mineralized zones where expected, but had lower grades. Hole KO-24-RC-003, a 35 metre up-dip step-out, did not intersect the expected zone. Holes KO-24-RC-004 and -005, where drilled to test the southerly extension of the western set of lenses. Both holes intersected gold alteration with a best interval grading 0.20 g/t Au over 12.0 metres. The final two RC holes tested a 2,680 ppb Au-in-auger anomaly and returned a best intercept of 0.19 g/t Au over 3.0 metres.

Additional drilling is required over the Mogoyafara Deposit area to continue to define the mineralized zone, test for extensions to known zones, test strong Au-in-auger anomalies and to test artisanal mine areas that returned good gold values (Figure 3), especially to the south of the resource area as there is a good correlation between open-pit constrained resources and the location of artisanal mine workings at Mogoyafara South.

Figure 3. Mogoyafara South plan map with drilling summary

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4954/231781_2d40832154ce2a2e_001full.jpg

Frikidi

A total of 17 AC (315 metres) and 2 oriented diamond drill holes (190 metres) totaling 505 m were completed over the Frikidi area in 2024 (see Figure 4). Rocks in the Frikidi area are likely part of the same rock package that hosts the gold mineralization at the Mogoyarafa South, Gourbassi West and Gourbassi West North Zones,

The two core holes tested two areas of gold mineralization. Hole FAW-24-DD-001 was a vertical hole drilled to test for flat-lying zones adjacent to a previously drilled structure that had returned 6.67 g/t over 4 metres. The new hole, representing an approximate 9 m step-out to the south, returned 6.35 g/t Au over 9.5 metres. True width is estimated at ~4 metres. No significant flat-lying mineralization was intersected.

The 2^nd core hole was drilled to follow up on a historic intercept of 1.07 g/t Au over 26 metres located near a NW-trending magnetic break. This hole intersected numerous lower grade gold zones including 0.50 g/t au over 7.85 metres, 0.50 over 3.5 metres, 0.5 g/t Au over 5.25 metres and six additional, narrow intercepts grading > 0.3 g/t Au (see Table 1 at end for summary). Oriented core data suggest that the zones trend northwest, which supports an inferred NW-trending host structure as evident in the magnetic data. Additional holes are required along the NW trend to determine the potential of this zone. True widths are unknown.

The AC holes tested two areas along interpreted NW-trending structures that returned Au-in-auger anomalies of up to 8,650 ppb Au and 462 ppb Au (see Figure 3). Low gold values, intersected in both areas likely explain the anomalous auger results with the best interval returning 0.68 g/t Au over 3 metres from hole FAW-24-AC-010.

More work needs to be completed over the Frikidi area to determine if there are sufficient volumes of mineralized rock to delineate a mineral resource.

Barani Gap Area

A total of 24 AC holes totaling 789 metres were completed in the Barani Gap area (see Figure 5). This work results in the discovery of a new zone of gold mineralization and modest extensions to the Barani Gap mineralization. Six of the holes were drilled to test auger anomalies of 1,527 ppb Au, 633 ppb Au and 408 ppb Au.

Hole FA-24-AC-047, which tested a 1,527 ppb Au-in-auger anomaly, returned 4 intervals grading 0.57 g/t Au over 5.0 metres, 0.83 g/t Au over 6.0 metres, 1.11 g/t Au over 4 metres and 3.35 g/t Au over 3 metres. This target is believed to be a NE-trending zone of mineralization within a larger northerly-trending shear zone system. Additional drilling is required in this area. This is a new discovery.

Holes FA-24-AC-54, -57, -58 and -59, all drilled in the Barani Gap area, returned oxide gold intercepts of 0.49 g/t Au over 6.0 metres, 0.77 g/t Au over 9.0 metres, 0.44 g/t Au over 8.0 metres and 1.11 g/t Au over 8.0 metres, respectively, which resulted in extensions to one of the resource zones of 120 m and extended a non-modelled lens of gold mineralization by 100 metres to 270 metres. More drilling will be carried out into this area with a goal to expand and discover new mineral resources. True widths are estimated to be 70-90% of true widths.

Figure 4. Frikidi Area 2024 Drill Summary Plan

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4954/231781_2d40832154ce2a2e_002full.jpg

Figure 5. Barani Gap 2024 Drill Summary Plan

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4954/231781_2d40832154ce2a2e_003full.jpg

Kolon to Soa Area

The Kolon to Soa area lies northeast, along strike of the Barani East Deposit and is likely controlled, in part, by the same northeast-trending structure that is related to the Barani East Deposit. In 2024, 21 holes, including 3 RC holes (328 metres) totaling 951 metres were completed over this area (see Figure 6 for locations). The best results were returned from the Kolon (1.91 g/t Au over 3 metres) and Soa South (0.16 g/t Au over 28 metres) areas, where drilling extended the mineralized zones by 100 and 200 metres, respectively. Unfortunately, the RC holes did not return any significant results as they are interpreted as having been drilled mostly down-dip. Follow-up drilling is required to validate this interpretation.

The Kolon to Soa area lies along the northeast strike extension of the Barani East Zone, which is subject to a current PEA. Both magnetic and induced polarization surveys show clear breaks in the stratigraphy, which are interpreted to represent northeast-trending shear zones and/or faults. Northerly-trending mineralization appears to be stronger close to the interpreted structural breaks. Future drilling will focus on those areas proximal to the shear zones.

Figure 6. Kolon to Soa 2024 Drill Summary Plan

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4954/231781_2d40832154ce2a2e_004full.jpg

Technical Study Update (The "PEA")

Figure 1 - SMSZ Project Location and Major Deposits in Western Mali and Eastern Senegal (* see deposit resources disclosures at end)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4954/231781_2d40832154ce2a2e_005full.jpg

Figure 2. SMSZ Property scale Summary and Zone location plan

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4954/231781_2d40832154ce2a2e_006full.jpg

PEA Update

Metallurgical test work is continuing for samples from the Barani East, Gourbassi West and Gourbassi West North deposits. Test work results will be released in due course.

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, P.Geo. 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.

On Behalf of the Board

"Jared Scharf"

___________________________
Jared Scharf
President & Director

About Desert Gold

Desert Gold Ventures Inc. is a gold exploration and development company which controls the 440 km² SMSZ Project in Western Mali containing Measured and Indicated Mineral Resources of 8.47 million tonnes grading 1.14 g/t gold totaling 310,300 ounces and Inferred Mineral Resources of 20.7 million tonnes grading 1.16 g/t gold totaling 769,200 ounces. For further information please visit www.SEDARPLUS.ca under the company's profile. Website: www.desertgold.ca.

This news release contains forward-looking statements. These forward-looking statements entail various risks and uncertainties that could cause actual results to differ materially from those reflected in these forward-looking statements. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, the strength of the capital markets, the price of gold; operational, funding, liquidity risks, the degree to which Mineral Resource estimates are reflective of actual Mineral Resources, the degree to which factors which would make a mineral deposit commercially viable, and the risks and hazards associated with mining operations. Risks and uncertainties about the Company's business are more fully discussed in the company's disclosure materials filed with the securities regulatory authorities in Canada and available at www.sedarplus.ca and readers are urged to read these materials. The Company assumes no obligation to update any forward-looking statement or to update the reasons why actual results could differ from such statements unless 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. 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.

* Figure 1 disclosure

Figure 1 Disclosure

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4954/231781_fig1disclosure.jpg

TABLE 1. SUMMARY OF DRILL HOLE INTERCEPTS >0.3 g/t Au

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/231781