Desert Gold Provides Corporate and Exploration Update; 20,000 Metres of Drilling in Progress - SMSZ Project, West Mali

Delta, British Columbia--(Newsfile Corp. - February 24, 2021) - Desert Gold Ventures Inc. (TSXV: DAU) (FSE: QXR2) (OTC Pink: DAUGF) (the "Company") is pleased to provide an update on the Company's largest exploration program to date at its flagship Senegal Mali Shear Zone project in Western Mali (the "SMSZ Project"). The 410 km² SMSZ Project is both named after and overlies a 38 km section of the prolific Senegal Mali Shear Zone (the "SMSZ"). The SMSZ is related to 5 large mines located both to the north and south, along strike of the Company's SMSZ Project, including B2 Gold's Fekola Mine, Barrick's Gounkoto and Loulo Mines and Allied Gold's Sadiola and Yatela Mines^[1]. To the Company's knowledge, the SMSZ Project is the largest, contiguous, non-producer land package over this highly prospective structural feature (see Figure 1.).

Field work recommenced at the SMSZ Project in early December, 2020. The goal of the exploration program is to develop/discover a stand-alone Tier 1 gold deposit(s). Exploration comprises drilling to advance known gold zones and soil, auger and IP surveys to identify new targets, with real-time follow-up of drill testing of newly developed targets. The SMSZ exploration program is fully underway with one multipurpose drill, three auger drills, a geological mapping team and a couple of soil sampling teams. Geophysical surveys have been completed.

SMSZ Project Exploration Progress to Feb 21, 2021

• Drilling - 6% complete
  
  • Three core holes, totaling approximately 825 metres completed at Gourbassi East and West. RC drilling has commenced at Gourbassi West with 310 metres completed in three holes. Drilling will progress through property from West to East to North.
  • All three core holes were extended by the drill geologists to cover potentially gold-bearing alteration zones.
  • Drilling pace expected to materially increase with move from diamond to RC drilling.

• Auger Drilling - 49 % complete
  
  • 9,248 metres drilling in 1,087 holes.
  • Two rigs active.

• IP Geophysical Surveys - 100% complete
  
  • 90.8 line kilometres completed.
  • Historic and new IP data have been merged.

• Soil Sampling - 56% complete
  
  • 3,962 samples taken.

• Mapping and prospecting ongoing

• Community Support Program Initiated
  
  • Funding from Desert Gold and major contractors including SGS, Etasi Drilling and Sahara Natural Resources.
  • Medical and school supplies to be donated to 9 communities in the SMSZ Project region.

A summary of exploration progress to date is presented in Figure 2.

Corporate Update

• The Company has launched its new corporate website at www.desertgold.ca which includes several new features:
  
  • New projects page with enhanced technical detail regarding the Company's projects.
  • An updated corporate presentation that can be found at https://www.desertgold.ca/images/presentation/2021/Desert_Gold_Presentation_Jan_2021_final-_V1.pdf.
  • New photo gallery feature which showcases the Company's ongoing exploration, development and community work.

Djimbala Project Update - Southern Mali

• The Company's joint venture partner, Indigo Exploration, has completed its previously announced auger drill program on the Company's Djimbala concession situated in Southern Mali's Yanfolila Gold Belt
  
  • The 602 vertical auger holes drilled to an average depth of 7.8 metres and spaced 25 metres apart along 10 transect lines will provide a 2.0 kilometre strike length by 2.5 kilometre wide test of the Djelinfing and Forela gold targets with the aim to prioritize subsequent air core fence drilling later this year.
  • All samples have been delivered to the lab for assays and results are pending.

2021 Exploration Program

• Fully Funded 20,000 metres of drilling- Drilling started January 2021
  • Follow-up on Gourbassi West, Gourbassi East and Barani East Zones
  • Continue to trace gold mineralization from Barani East northeast to Soa and south to Keniegoulou
  • Follow up drill testing at Gourbassi NE, Goubassi SE, Berola, Frikidi, KE, Komana and Manakoto zones
  • Test gold-in-auger targets
  • Contingency metres will follow-up drill success
    
    
• Approximately 19,000 metres of auger drilling
  • Auger drilling will commence in mid-December to follow up on 2020 auger anomalies
  • Testing for gold mineralization along thinly-covered laterite, and/or, not yet evaluated, regional scale structures
    
    
• 90-line km of induced polarization gradient geophysical surveys
  • Five grid areas, with four covering structural targets related to the SMSZ and one covering a felsic intrusion that hosts gold mineralization
  • Survey to start mid-December
    
    
• 7,000 soil samples
  • Test 3 areas comprising ~100 km2, that have not been soil sampled, mapped or drilled
    
    
• Geological mapping and prospecting
  • Approximately 55% of the property still requires mapping and prospecting
    
    
• Complete a 43-101 compliant report in Q4, 2021

Figure 1 - SMSZ Project Location and Major Deposits in Western Mali and Eastern Senegal

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4954/75296_092135af84e04b3e_001full.jpg

Figure 2 - Overview of 2020-21 Exploration Planning to Date with historic drilling results**

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4954/75296_092135af84e04b3e_002full.jpg

**All gold grades over width, with the exception of the Soa, Berola and Gourbassi prospects, represent drill holes with the true widths, for most holes, ranging from 65 to 95%. Estimated true widths for the Soa and Berola prospects are unknown. Estimated true widths at the Gourbassi Zones are estimated to range from 60% to 90%.

Assays

A total of 4,908 samples have been sent to the lab. This includes 814 core samples, 1,718 auger samples and 2,376 soil samples. All sample sets also include standards, duplicate and blank samples for QAQC. Some of the auger sample assays are expected this week with core, soil and additional auger assays expected in March. Assay results and additional updates will be released in due course.

Metallurgical Update

Samples from two, un-oxidized, gold-bearing intervals from the limestone-hosted Barani East Zone were combined to create two sample composites. The first sample corresponds with an interval that returned 4.76 g/t Au (un-cut) over 13.45 metres (true width estimated at 12.3 metres) from 171.3 to 184.75 metres (152 metres vertical depth) from 2020 hole BERCD0007 (see Desert Gold news release for August 31, 2020). The second sample corresponds with an interval that returned 2.49 g/t Au over 5.05 metres (true width estimated at 4.6 metres) from 191.7 to 196.75 metres (167 metres vertical depth) from 2020 hole BERCD0007. Both samples were pulverized to 85% passing 70 microns and subjected to 72 hours of bottle roll in a cyanide-saturated, ph-monitored fluid. Both samples were analyzed before and after the bottle roll test with samples of the CN-rich fluid taken every 12, 24, 36, 48 and 72 hours. The goal of this test was to indicate both how much and how quickly that of the gold could be recovered. A summary of the results is presented in the following table.

The initial assays, fairly reflect that average composited grade of each sample. Each sample, comprises 500 grams of material from 22 and 6 individual assay samples for Composites 1 and 2, respectively. The final estimated grade of Composite 1, is higher than expected, which may be due to coarse gold as a 0.4 metre interval in Composite 1, had initially returned 62.05 g/t Au. Overall gold recoveries, over 48 hours, averaged 87.3% with a range of 79.4% to 95.3%. At 72 hours, gold recoveries in Composite 1 were still increasing, while, essentially all of the gold was leached from Composite 2. If coarse gold was a factor in Composite 1's reduced recovery, this could be mitigated by the addition of a gravity circuit, which would recover coarse gold and is common at gold mills in the region. In management's opinion, these results suggest that the preliminary gold recovery results in unoxidized rock, at Barani East, are quite positive, are within acceptable limits and that ongoing exploration of this zone continues to be warranted.

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

"Sonny Janda"
___________________________
Sonny Janda
Chairman

About Desert Gold

Desert Gold Ventures Inc. is a gold exploration and development company which holds 2 gold exploration permits in Western Mali (SMSZ Project and Djimbala), its Anumso project in Ghana's Ashanti Belt and its Rutare gold project in central Rwanda. For further information please visit www.SEDAR.com under the company's profile. Website: www.desertgold.ca.

Contact
Jared Scharf, President and CEO
Email: [email protected]

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.sedar.com 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.

¹ Mineralization hosted on adjacent and/or nearby properties is not necessarily representative of mineralization hosted on the Company's SMSZ Property.

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