News Release

May 04, 2006

Goldbanks Project 2006 Exploration Program Initiated

Vancouver, B.C. -- Desert Gold Ventures Inc. ("Desert Gold" or the "Company") is pleased to announce that the 2006 exploration program has been initiated on the Goldbanks Property, located 35 miles south of Winnemucca, Pershing County, Nevada (the "Property"). The 2006 exploration is planned in two phases to identify new areas of near surface gold mineralization and expand on the known gold resource of an inferred oxide and sulphide resource of 556,700 ounces of gold with 90% as oxide mineralization (refer to the Company's news release dated March 28, 2006). An experienced team of geologists and field crews have been assembled to complete the proposed exploration programs.

Phase One will consist of continued collection of geological and geochemical data, compilation, and evaluation. The goal is to define solid, geologically-based, drill targets having the potential to host bulk extractable lower grade and high-grade "feeder-type" gold mineralization. Some of these targets may be extensions of known zones while others will be new targets based on developing an improved understanding of the structural control of mineralization.

Phase Two will consist of drilling the targets, which have been selected for their geologic merit. A drill footage of 10,000 feet is recommended for the Phase Two program. Exploration work is being conducted under the supervision of the Company's Qualified Person, Jim Miller Tait, P.Geo. Under the terms of the Option Agreement with Kinross Gold Corporation, the Company is required to spend $5 million US before December 31, 2008, including $1,250,000 by December 31, 2005 to earn a 50% interest. The Company has satisfied the initial expenditure requirement.

Corporate Update

The Company is also pleased to announce that Mr. Stan Bharti has been appointed to the Board of Directors, effective May 1, 2006.

Mr. Bharti brings over 25 years of experience in operations, public markets and finance to Desert Gold. Over the last ten years Mr. Bharti has been involved in acquiring, restructuring, and financing public companies. Mr. Bharti has raised over $300 million in public markets over the last decade. His experience in public markets includes acquisitions of companies in Europe, Australia and North America. He is a Professional Mining Engineer and holds a Masters Degree in Engineering from Moscow, Russia and University of London, England.

The Company received disinterested shareholder approval to reduce the exercise price of stock options held by its Insiders. The Company will now apply for TSX Venture Exchange (the "Exchange") approval to reduce the exercise price of an aggregate 66,250 stock options held by Insiders to purchase 66,250 common shares from $2.40 per share to $1.00 per share, and an aggregate 268,750 stock options held by Insiders to purchase 268,750 common shares from $2.00 per share to $1.00 per share.

The Company has today granted incentive stock options to its directors, officers, employees and consultants to purchase a total of 589,463 shares of the Company at a price of $1.00 per share. The options expire on May 4, 2011 and are subject to a hold period that expires on September 5, 2006. The options granted to consultants of the Company are subject to the same terms as above except that they expire on May 4, 2008. Also, in accordance with the policies of the Exchange, all of the options are subject to vesting provisions for the first 18 months.

On Behalf of the Board of Directors,

"Eugene Beukman"

Eugene Beukman, 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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