March 02, 2006
Non-Brokered Private Placement of $1.6 Million
Vancouver, B.C. --Desert Gold Ventures Inc. ("Desert Gold" or the "Company") is pleased to announce that it has arranged a non-brokered private placement of 6,200,000 units of Desert Gold at a price of $0.27 per unit. Each unit will consist of one common share of the Company and one transferable share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of Desert Gold at a price of $0.30 until the second anniversary of the completion of the Offering.
The Offering is subject to a number of conditions including the execution of formal documentation and receipt of regulatory approvals.
Proceeds from the Offering will be used by Desert Gold to further its exploration program on its Goldbanks Property in Nevada, for general working capital and for operating expenses.
On Behalf of the Board of Directors,
"Donald R. Sheldon"
Donald R. Sheldon, President
For further information on Desert Gold Ventures Inc., please visit our website at: www.desertgold.ca
This release includes certain statements that may be deemed to be "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration and development activities and events or developments that the Company expects, are forward looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see our public filings at www.sedar.com for further information.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE
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